diff --git a/examples/research_projects/vqgan-clip/requirements.txt b/examples/research_projects/vqgan-clip/requirements.txt
index 540bac904f29..b97adf4140d3 100644
--- a/examples/research_projects/vqgan-clip/requirements.txt
+++ b/examples/research_projects/vqgan-clip/requirements.txt
@@ -21,7 +21,7 @@ taming-transformers
 torch
 torchvision
 tqdm
-transformers==4.26.0
+transformers==4.38.0
 tokenizers==0.13.2
 typing_extensions
 wandb