How To Use ChatGPT API in Your Business in 2024

These days, businesses are constantly thinking about how to use the ChatGPT API to the best of their (and its) ability.

The fact that OpenAI has steadily been releasing its paid APIs, advancing their accuracy and the speed of responses, has also led to the emergence of numerous applications in various industries.

Since 2013, Rubyroid Labs has developed over 300 software development projects, including those that required OpenAI integration. If you are looking for a partner to integrate OpenAI into your Ruby on Rails application, contact us right away.

In this article, we share insights on ways to use ChatGPT API for various business cases.

What is ChatGPT API?

After the launch of the chatbot, which utilizes machine learning algorithms to generate responses to user inquiries, developers one by one tried to figure out “does ChatGPT have an API?” And if so, “is ChatGPT API free?”

In March 2023, OpenAI made its API available to developers. The ChatGPT API is a natural language processing tool built on GPT technology.

Recently, the company released its GPT-4 Turbo model, the latest version of the AI tool. Developers can access it by obtaining the OpenAI API key via the official website, while non-technical users can benefit from using the GPT-4 model available as a ChatGPT Plus subscription plan, which grants quick response times and priority access to new features.

If comparing ChatGPT vs ChatGPT API, think of it like this: the latter was designed primarily for businesses with specific features in mind that they wish to implement.
ChatGPT is scalable and can handle large amounts of data. The API comes with a variety of SDKs and libraries to help developers integrate the model into their applications.
What’s more, developers can use Open AI’s API to power their own models and customize the behavior of those models to their unique requirements.

Top 5 Ways to Use API ChatGPT in Business

Since the question “Does Chat GPT have an API” has been answered, let’s proceed to ways to use ChatGPT in a business context.

Companies of every vertical are keen on implementing ChatGPT’s API into their applications, as it proves to be a valuable tool for businesses. This is what we do at Rubyroid Labs — integrate OpenAI capabilities into a customer’s application, whether it is insurance, education, retail or any other industry or business sector.

Now let’s take a look at ChatGPT API integration use cases.

Education

With ChatGPT API, teachers can automate routine tasks, such as grading assignments and sending reminders to students.

Integrating ChatGPT API in educational apps can provide a range of benefits, such as personalized learning experiences, real-time feedback, and interactive virtual assistants. And students can use ChatGPT as an alternative to standard search engines when it comes to conducting research.

Ever since a GPT model proved to be a valuable tool in inquiry-based learning, students can use a chatbot as an alternative to standard search engines when it comes to conducting research.

Human Resources

According to Eightfold AI, HR personnel already use 57% of AI-related tools in the management and onboarding process. If incorporating ChatGPT API into task management, it can accelerate the execution of their daily tasks, such as:

• Job descriptions. Get text templates that can be reworked by HR further.
• Job advertisements. Get a general ad description in a predetermined tone of voice.
• Interview questions. ChatGPT can help  you determine applicable questions that recruiters ask candidates.
• Polite job application denial. Generate a rejection email in a sympathetic and considerate tone.

Healthcare

Having Chat GPT integrated into the healthcare business helps assist with remote consultation, medical diagnoses, documentation, care coordination and more.

ChatGPT API is also a handy tool for doctors. With an API integrated in their work, doctors can get summaries of notes and Q&A sessions fast and use it for diagnosis, treatment, insurance and other processes.

Banking and Finance

Since ChatGPT offers an API, it can handle customer requests related to transactions or account balances, and offer options when it comes to financial planning. Other use cases include:

• Fraud detection. Since the ChatGPT model analyzes vast amounts of transaction data, it can identify suspicious behavior far faster than humans.
• Loan origination. With ChatGPT API integrated into a chatbot, customers can get real-time guidance on loans.
• Compliance. AI models can ensure banks comply with all requirements and regulations since the AI monitors bank transactions and identifies potential violations.
• Financial planning. Once an API for ChatGPT has been implemented, it can help create budgeting, debt management and retirement planning recommendations.

At Rubyroid Labs, we’ve been working with a client looking to integrate OpenAI into their insurance database software. Instead of a manual selection of insurance options, their customers can now get suggested insurance options based on the input they put into the chatbot.

We have expertise in integrating OpenAI’s looking model into any banking & finance areas — contact us to discuss details about your project.

Sales and Marketing

ChatGPT for marketing has been the subject of many discussions recently. There are several cases where using ChatGPT API will benefit sales and marketing teams.

• Generate copy. Ask ChatGPT to create an entire blog post or help with an article outline.
• Get ideas for content. Ask ChatGPT to brainstorm topics based on your existing content as well as research new ones.
• Facilitate lead generation. Use this tool to interact with your customers and gather their contact information for lead generation.
• Manage social media. Train ChatGPT to help you with scheduling, analyzing and advertising.

Examples of API ChatGPT Integration

There are several large-scale businesses that have integrated the current API into their software products and services. Let’s take a look at API implementation examples.

Quizlet

Quizlet announced a new tool, “Q-chat,” that is built on ChatGPT API usage.

Q-chat is an AI coach that engages students with questions derived from data analysis of their study materials. The conversation between an AI coach and a student is delivered through a chatbot.

With this tool, students can choose a study they want to be quizzed more on or practice a new language.

Speak

Due to the fact that ChatGPT is available via API, Speak was able to enhance their learning platform. It recently announced the launch of a plug-in that enables users to access learning experiences through OpenAI’s chat product.

Basically, whenever a user has difficulties with translation or explanation of messages across various languages, the plug-in provides answers. Speak has been testing the plug-in with early users and will integrate it for public use in the future.

Slack

There is a Chat GPT API integrated into Slack too. In fact, they were one of the first software applications to do that.

The ChatGPT app for Slack is able to understand the context of a conversation and generate instant summaries, as well as review research tools to learn about any related topics, and offer writing assistance.

The tool pulls information from Slack’s channel archives and online data that ChatGPT has been trained on.

Some Slack users enrolled for beta testing are convinced that the tool will help to serve their clients better because of instant and accurate data.

Snapchat

Another ChatGPT API example belongs to Snapchat — they built an AI chatbot, like ChatGPT, called My AI.

Essentially, it is a mobile-friendly version of ChatGPT inside a communication platform.

My AI is a customizable chatbot that makes a bunch of recommendations, such as gift ideas, trip planning, recipes, and others. Unlike other companies, Snapchat treats generative AI more like a persona, inviting My AI to be another friend (and not a search engine).

Instacart

The fact that there is an API for ChatGPT available for organizations has helped Instacart to generate an application where customers ask questions about food.

The application is a combination of ChatGPT and Instacart’s own AI and product data.

Because of that, when customers ask “How to make fish tacos?” or “What is considered healthy food to cook for kids?”, they get detailed and accurate answers.

While much of the community waits for the most recent Chat GPT API to become available for public use, there are companies that have already integrated the GPT-4 model into their products.

How much does API for ChatGPT cost?

The latest GPT model, known as GPT-4 Turbo, is available at $0.01 for every 1000 tokens or around 750 words for developers. It is a more powerful tool than GPT-4 with a lower cost and broader capabilities.

To receive GPT-4 Turbo API access, developers need to create an account on the OpenAI platform and obtain it there. Developers can also choose other APIs such as GPT-4, GPT-3.5 Turbo, and their predecessors.

Below is the ChatGPT API pricing comparison for input tokens.

		Most advanced	Most powerful	Cost-effective	Fast,better quality	Faster, less quality
tokens	words	GPT-4 Turbo model	GPT-4 model	GPT-3.5 Turbo model	Davinci-002model	Babbage model
1,000	750	$0.01	$0.03	$0.0010	$0.0060	$0.0004
10,000	7,500	$0.10	$0.30	$0.010	$0.060	$0.004
100,000	75,000	$1.00	$3.00	$0.10	$0.60	$0.04
1,000,000	750,000	$10.00	$30.00	$1.00	$6.00	$0.40
10,000,000	7,500,000	$100.00	$300.00	$10.000	$60.00	$4.00

The ChatGPT API pricing comparison shows clearly why developers and businesses are excited about obtaining the GPT-4 Turbo model. Compared to GPT-4 pricing, it is more flexible and yet more powerful to build new products.

Let Rubyroid Labs Execute Your ChatGPT API Ideas

In this article, we shared how ChatGPT API can be used in various industries.

While every company has its own specific business requirements, all agree that ChatGPT can give them more of what they want — better customer service that results in greater customer retention.

While developers wait for the latest Chat GPT API release date, businesses can leverage the GPT-3 API key to build their projects. There are multiple ChatGPT API tutorials available out there, as well as providers who offer their help in building complex and reliable products.

At Rubyroid Labs, we collaborate with companies all over the world to integrate OpenAI into their projects. Reach out to us if you want to transform your chatbot or other conversational interface.

FAQ

Is there an API for ChatGPT?

ChatGPT, a language model offered by OpenAI, has APIs available for developers to integrate into their software products and services.

What is the ChatGPT API release date?

The API was released to the public in March 2023, while a chatbot was launched in November 2022.

How expensive is the ChatGPT developer API?

The new GPT-4 Turbo is 3x cheaper for input tokens and 2x cheaper for output tokens compared to its predecessor, GPT-4.

Do I need to pay for the ChatGPT API?

Yes, the ChatGPT API price is $0.002 for every 1000 tokens, which equals around 750 words.

Is the ChatGPT API free?

No, it is not free. OpenAI offers API at specific costs available at https://openai.com/pricing.

However, the public version of ChatGPT is free, available to use via OpenAI’s website.

What is ChatGPT API?

ChatGPT API is an interface that allows developers to integrate the ChatGPT model into their own software, products, and apps. The API employs ChatGPT’s natural language processing abilities to generate human-like text in a conversation style, making it convenient for chatbots, virtual assistants, and interactive solutions.

Can I use the ChatGPT API for commercial use?

Yes, absolutely. Developers use the API to create applications for customer service, chatbots, virtual assistants and tools for content creation, document searching, and more.

What can the ChatGPT API do?

With ChatGPT API, applications can generate responses, make recommendations or provide information in a conversational manner.