The Future is Here: OpenAI’s ChatGPT API is Changing the Game

OpenAI has made waves in the tech world with the release of their large language model, ChatGPT, and its accompanying API access. This development is sure to have significant implications for businesses, as AI capabilities become more accessible and affordable.

The release of ChatGPT API access means that what was once a cottage industry of hobbyists can now turn their tinkering into fully-fledged businesses. Former Facebook and Oculus employee Daniel Habib was quick to jump on the opportunity, using ChatGPT to build QuickVid AI, which automates much of the creative process involved in generating ideas for YouTube videos. Other generative AI tools then voice the script and create visuals.

With the falling price of access to large language models, there will likely be a proliferation of AI chatbots in the near future. API access to ChatGPT is 10 times cheaper than access to OpenAI’s lower-powered GPT3 API, which it launched in June 2020, and which could generate convincing language when prompted but did not have the same conversational strength as ChatGPT. This could change the economics of AI for many businesses, and could spark a new rush of innovation.

OpenAI has also changed its data retention policy, which could reassure businesses thinking of experimenting with ChatGPT. The company has said it will now only hold on to users’ data for 30 days, and has promised that it won’t use data that users input to train its models. This means that companies can feel in control of their data, rather than having to trust a third party to manage where it goes and how it’s used.

As Hassan El Mghari, who runs TwitterBio, which uses ChatGPT’s computational power to generate Twitter profile text for users, puts it, “What this release means for companies is that adding AI capabilities to applications is much more accessible and affordable.”

With these developments, it’s clear that the future is here, and it’s being driven by AI. As Alex Volkov, founder of the Targum language translator for videos, which was built unofficially off the back of ChatGPT at a December 2022 hackathon, notes, “It’s much cheaper and much faster. That doesn’t happen usually. With the API world, usually prices go up.”

This is an exciting time for businesses and developers alike, as AI technology becomes more accessible and more affordable. The potential for innovation and growth is immense, and we can’t wait to see what the future holds.