ChatGPT is revolutionizing the industry of AI-driven chatbots. It’s no wonder why OpenAI, who have received billions in funding from Microsoft, is opening the floodgates by launching an API. It lessens the burden of needing to spend heavily on hardware and electricity, by reducing the costs to run ChatGPT by a whooping 90%.
That is why they plan on passing on the cost savings to its users of the ChatGPT API. A subscription fee of $0.002 for every 1,000 tokens, or 750 words, generated by ChatGPT. They have even gone a step further to offer 10 times cheaper compared to what their earlier “Davinci” GPT-3.5 large language model would cost for API access, making it more accessible.
Popular applications such as Snapchat and Quizlet, and Instacart are amongst the first to adopt ChatGPT into their app, but with a paid subscription requirement for the former. This demonstrates its potential as a powerful force in the industry and its cost efficiency, however this also means a potential daily bill of tens of thousands of dollars. Apps and websites that decide to utilize the ChatGPT technology must in turn, subsidize these costs with either a paid subscriptions or via targeted ad schemes.
OpenAI has also gone to great lengths to ensure the data submitted through their API is not used for anything other than the requested service. Users are given complete control over the input and output of the models, while they also also give the option to opt in to allow OpenAI to use their specific data for service improvements and AI model training.
If a site or app does take the plunge, users must be made aware of the fact that they are in fact interacting with a chatbot. this must be made explicitly clear via disclaimers or any other means.
It’s truly an exciting time for developers and consumers alike, with ChatGPT offering an innovative and cost effective solution. Not to mention the advantages and benefits it can offer its users. Comment below and let us know your thoughts! #ChatGPT #OpenAI #AIChatbots
