diff --git a/RELEASE.md b/RELEASE.md
index e060f082a..b4723ef3c 100644
--- a/RELEASE.md
+++ b/RELEASE.md
@@ -32,6 +32,10 @@ Keras pruning API:
 
 # TensorFlow Model Optimization next release TBD
 
+# TensorFlow Model Optimization 0.7.4
+
+TFMOT 0.7.4 add from_config method to QuantizeConfig class since the new keras serialization enforces it.
+
 # TensorFlow Model Optimization 0.7.3
 
 TFMOT 0.7.3 add remove_input_range method that removes input range after apply quantize.
diff --git a/ci/kokoro/gcp_ubuntu/Dockerfile b/ci/kokoro/gcp_ubuntu/Dockerfile
index 41e410727..a7490ba91 100644
--- a/ci/kokoro/gcp_ubuntu/Dockerfile
+++ b/ci/kokoro/gcp_ubuntu/Dockerfile
@@ -29,7 +29,7 @@
 FROM ubuntu:20.04
 
 ARG BAZEL_VERSION=4.2.2
-ARG TENSORFLOW_VERSION=2.11.0
+ARG TENSORFLOW_VERSION=2.12.0
 
 
 RUN apt-get update -y
diff --git a/tensorflow_model_optimization/python/core/version.py b/tensorflow_model_optimization/python/core/version.py
index 754504b3b..28ccf1be1 100644
--- a/tensorflow_model_optimization/python/core/version.py
+++ b/tensorflow_model_optimization/python/core/version.py
@@ -17,7 +17,7 @@
 # We follow Semantic Versioning (https://semver.org/)
 _MAJOR_VERSION = '0'
 _MINOR_VERSION = '7'
-_PATCH_VERSION = '3'
+_PATCH_VERSION = '4'
 
 # When building releases, we can update this value on the release branch to
 # reflect the current release candidate ('rc0', 'rc1') or, finally, the official