diff --git a/sdk/ai/azopenai/CHANGELOG.md b/sdk/ai/azopenai/CHANGELOG.md
index 4cfb7fe91743..ed17f94dc83c 100644
--- a/sdk/ai/azopenai/CHANGELOG.md
+++ b/sdk/ai/azopenai/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 0.3.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 0.3.0 (2023-09-26)
 
 ### Features Added
diff --git a/sdk/ai/azopenai/version.go b/sdk/ai/azopenai/version.go
index 425e296b22b7..75cec0e21146 100644
--- a/sdk/ai/azopenai/version.go
+++ b/sdk/ai/azopenai/version.go
@@ -7,5 +7,5 @@
 package azopenai
 
 const (
-	version = "v0.3.0"
+	version = "v0.3.1"
 )