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How The ChatGPI API Is Going To Revolutionize Companies Forever

OpenAI released an API for ChatGPT. It's now possible for companies to integrate conversational AI directly with their services. But how exactly will this be used... and what are the impacts on businesses around the world?
Updated March 4, 2023
a robot walking away from a city on fire as 4k digital art, mirroring a movie scene in I am Legend
a robot walking away from a city on fire as 4k digital art, mirroring a movie scene in I am Legend

The mind boggling text-generating AI model known as ChatGPT has surpassed expectations beyond belief. With OpenAI's recent announcement releasing a ChatGPT API, third-party developers can now integrate ChatGPT-style AI into any of their apps and services. It's starting to look like ChatGPT is poised to become a ubiquitous tool impacting throughout companies around the world.

But how exactly is this going to happen?

Most people in the tech world have heard of ChatGPT, but what about the rest of the world? Well for starters, the tool hit a million users in just 5 days (compared to Facebook taking 10 months). That's the fastest growing consumer application in history.

Since ChatGPT formulates human-like responses in addition to its AI answers to prompts and queries, it's an ideal tool for chatbots, virtual assistants, and other conversational interfaces. Its versatility and flexibility have already made it a hit with businesses looking to improve customer engagement and automate routine tasks.

These companies have already started to leverage a form of generative AI with their own services. But the next level is coming – and that's making it all conversational.

Do you know how powerful it will be when you'll be able to ask a ChatBot about some coding documentation your company uses? What about a doctors office training the tool to talk to patients about medicine questions?

I think my favorite thing about this API is the upcoming removal of semi-automated chatbots. You know when you visit a site and have to go through that before you can speak to a human? Yeah that's going away!

Tailoring a chatbot can help companies both internally and externally. You'll see large companies (especially in software and engineering) train chat models on their documentation. It's already happening to a lesser extent with products like CodeWP and GitHub Copilot.

Within the next year we might see the death (or replacement) of companies like ChatBot and Intercom. It's about to become a lot easier for companies to integrate a native chatbot with their products and services.

So how exactly is the introduction of the ChatGPT API going to integrate with companies across the world? Everything we're about to go over can be applied to almost every business in some way.

How The ChatGPT API Will Be Used

With the announcement of the ChatGPT API comes the gpt-3.5-turbo model (the exact model ChatGPT was trained on.) It has the lowest pricing model of an OpenAI service ever with 1000 tokens only costing a measly $0.002.

Not only is this going to reduce the cost of using the services, but will also expand the barrier for more AI products to be developed.

If you equated the new pricing models to generative AI products like Jasper, 100,000 words using gpt-3.5-turbo would cost $2.57, while 100,000 words written with Jasper would cost $70.

It'll be a great day when a startup creates a tool to allow everyday users to train their own models (basically wrap a UI around both training & text generation). I'm not really sure how I feel about Jasper for long-term sustainability anymore. The tsunami is coming & only the best pivotable companies will survive the wave.

But how is this new API actually going to change things? What's going to happen? Here's a few of the best ways we'll see this get implemented across the globe:

Streamline Internal Training & Documentation

Companies have onboarding, training, and navigational content that needs to get displayed to employees. Generally you'd have to look through tons of pamphlets or even talk to supervisors just to get things clarified.

We're one day closer to companies having every piece of documented HR right in front of them

The ChatGPT API is going to help facilitate clearer and quicker communication between employees and departments, ultimately improving workflow efficiency and productivity. This will benefit businesses tenfold in any industry that replies on collaboration and teamwork, such as healthcare, education, and logistics.

Need to know the company holiday calendar? What about making a quick client appointment? Need to know the obscure rules about expensing a questionable purchase? It's coming!

Automate Customer Service

This one might seem more obvious, but we're nearing the point where ChatGPT can provide quick and accurate responses to common customer inquiries, freeing up customer service representatives to handle more complex issues. This can benefit businesses in a wide range of industries, such as e-commerce, telecommunications, and banking.

We currently have semi-automated chatbots on websites that will really just waste your time until you eventually get connected to a human. We'll still need humans for support, but training a chatbot to adapt to your company while also making it feel genuine is going to be a big customer satisfaction booster.

Product Integration

Instead of companies needing to develop robust platforms to make their services more conversational, they can integrate AI directly with their tools.

Look at Quizlet, they just released a phenomenal integration that lets you merge flashcard sets with conversation. Students don't need to rely on parents to quiz them before exams anymore, they could just talk to an AI! The tutoring game is totally going to change when it's mixed with topical expertise.

Here's Q-Chat deepening my understanding on the Wines of Italy... this is crazy!

Q-Chat, Quizlet's new AI chatbot to help study having a conversation about Italy.

Generate Conversational Insights from Data

Lastly, once you merge conversation with data, you get personalized insights. ChatGPT will eventually be used to analyze customer feedback and generate insights that can inform business strategy.

This can be particularly valuable for businesses in the technology and finance sectors, where data analysis plays a critical role in decision-making.

Some other career use cases I can think of involve actuaries, bloggers, and healthcare professionals. Imagine having a workout plan generated based on your week over week metrics. That's pretty cool!

Final Thoughts

Words can't really express my excitement about the future of AI integration. OpenAI continues to dominate the field of conversational AI and doesn't seem to be stepping on the brakes anytime soon!

What about the negative personal and societal implications? With great progress comes an even greater need for moral oversight. It's not clear of how long until we see money mix with AI. At what ethical boundary do we put our foot down and say enough? Do we have any clue of the implications of everything we've been seeing in 5 years...? What about 10? Are we already too far gone?

I don't think so.

Like any great advancement will always have negatives associated. As a society we're going to have to ensure we stay vigilant to the advancements in artificial intelligence or we'll eventually suffer the impacts of greed. What are your thoughts? Leave a comment below to add your insight!

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Written by Justin Gluska
Justin is the founder of Gold Penguin, a business technology blog that helps people start, grow, and scale their business using AI. The world is changing and he believes it's best to make use of the new technology that is starting to change the world. If it can help you make more money or save you time, he'll write about it!
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