Breaking: ChatGPT API released

What the ChatGPT API means for you; Meet Stacks - practical AI use cases

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The AI Exchange
March 02, 2023

Welcome to another edition of what we’re determined to make the best damn newsletter in AI. Here we’ll break down AI topics that matter, open your mind to use cases, and keep you ahead of the curve.

Our #1 goal is to be useful. So please shoot us an email 📩 if you have questions or feedback, and especially if you implement something we share!

Here's what we're covering today: 

  • Distilling down what you should know about the new ChatGPT API

  • We've launched a whole new way to discover real AI use cases: meet Stacks 🎉

  • And a list of tools with a head start on using the ChatGPT API

... and if someone forwarded this email to you, thank them 😉, and subscribe here!

Let’s get to it! 👇

TODAY'S PERSPECTIVE

ChatGPT is coming to every product near you

Yesterday, Open AI released the ChatGPT API and AI Twitter is going a bit crazy with the possibilities. 

In today’s newsletter - we’re going to distill down what’s most important to know. 

10x cheaper, apparently 10x faster and even better GPT models

Yes, you read that right. Every AI product that was using Open AI's APIs just got a major upgrade. Previously, API access was limited to GPT-3, with their most powerful model being text-davinci-003. But now the same exact model that's powering ChatGPT is available, called gpt-3.5-turbo, is now considered their "most advanced language model" at 1/10th the price of GPT-3.

Your data, your privacy

As we've talked about in depth, the text put into and out of ChatGPT is shared back with Open AI who uses it to improve the performance of ChatGPT. That hasn't changed. 

But the API, and the Open AI playground, have a different set of terms. Yesterday, Open AI announced they are changing their policy from opt-out (which we've recommended you do in the past) to opt-in. This means that any data or text you share is now further protected and not being used to further improve their models. Here are the full terms.

Within their data privacy docs, OpenAI now explicitly states that they are SOC 2 Type 1 compliant and enterprise customers can qualify for HIPAA compliance sign-off as well

    New restrictions on how you can use the ChatGPT API for Medical, Financial, Legal

    One of the biggest current issues with these AI models is that they hallucinate, or make up information. This is why it's recommended to keep a "Human in the Loop" or in the final step of the process reviewing the draft done by ChatGPT before it's used or sent to an end customer. 

    Open AI has formalized this as a restriction for certain use cases: Medical, Financial and Legal advice. 

    And, any products that use AI in medical, financial, legal and news generation must provide a disclaimer informing users that AI is being used.

    We like to say, p.s. this was written with the help of ChatGPT at the bottom of the content that we use it for - and no, we don't use it for this newsletter, at least not yet :)

    Instacart, Shopify, Snapchat and Quizlet are already using it!

    We expect to see these AI assistants and chat bots in every product, quickly. The announcement came with news that ChatGPT is already powering assistants in Instacart for grocery shopping, Shopify’s Shop app for general shopping, Quizlet for learning, and Snapchat for companionship. (See the demos for each here).

    We expect to see travel, cooking, news, restaurant recommendations, music and many more use cases pop up here - likely in today’s big players.

      How this might impact you

      • There will be an assistant for everything - what does that mean for you and your business? Want to talk, come join us in Slack.

      • If you’ve faced issues using ChatGPT at work due to data privacy, ChatGPT itself still shares data - but as of March 1st, using it via the API by default will not. 

      • If you’re in one of the restricted business categories, the restrictions here are interesting. However, Open AI is only one player. Meta, Google and many startups with this technology may take different approaches.

      They also added a speech-to-text API for their AI model Whisper, priced at almost 1/3rd the cost of the next cheapest transcription service that we could find. 

      We’ll be digging further into this in future newsletters!

      USE CASE DEEP DIVE

      Announcing Stacks, the easiest way to start using AI in your work

      The explosion of AI tools is exciting and there seems to be an AI tool for everything these days. But the real impact of AI-powered tools comes from actually using them.

      However, this frenzy of tools makes figuring out a use case and finding the best tools for the job feel impossible.

      We know this all too well.

      From this feeling stems our next step towards empowering you to find real use cases from AI tools. That's why we're excited to announce the launch of Stacks: real-world AI workflows, and the tools that power them. 

      With Stacks, find tools, trusted by those who use them, to help you...

      All contributed by an impressive and diverse group of AI early adopters and experts from a variety of industries (huge shoutout to our inaugural group of contributors)!

      LINKS

      For your reading list 📚

      Tools with a headstart on ChatGPT API usage...

      And if you're really nerdy...

      Member only links (more info on joining here!)

      That's all!

      We'll see you again on Tuesday. Thoughts, feedback and questions are much appreciated - respond here or shoot us a note at [email protected]. 

      ... and if someone forwarded this email to you, thank them 😉, and subscribe here!

      Cheers,

      🪄 The AI Exchange Team