Biggest SaaS Opportunity in 2023: ChatGPT API (OpenAI, FeedHive, GPT-4)
This is the moment we’ve all been waiting for: OpenAI introduced API access to the AI model that’s used by ChatGPT, and it’s absolutely mind-blowing. This means that we can now integrate ChatGPT into our own products or build entirely new products on top of ChatGPT. This is the biggest SAS opportunity in 2023. There’s incredible potential to build something truly amazing, and the barrier isn’t really that high. It’s both affordable, and you can combine this with no code. So you don’t have to be a hardcore software engineer to integrate this. All you need to make this work is a small twist. But first, let’s just get a few concepts nailed down.
ChatGPT is an invention from OpenAI. It’s an AI model trained to assist you through a chat interface, and it can help you answer a wide range of questions and hold conversations on almost any topic. An API or application programming interface is a way for different software applications to communicate with each other over the internet. And this is exactly what ChatGPT just released: a way for me to ask the ChatGPT model for an output but without having to access the ChatGPT website and using their interface. Instead, I can display the output on my own products and give my own users an incredible experience.
If you’re new here, my name is Simon Harberg. I’m the CEO and founder of multiple SAS products. One of them is Feed Hive, a social media marketing tool. And of course, when we heard the news, we immediately added an AI writing assistant to our product, and it’s already adding so much value. Now I can ask the AI assistant to come up with ideas for a post on a specific topic. I can ask it to suggest improvements, and I can even tell it to help me with specific parts of my posts. And I can do this in the very same place where I write my content. I don’t have to leave the page or switch browser tabs.
But here’s where it gets really cool. When you use this AI writing assistant, you’ll notice that it feels a bit different from the regular ChatGPT. It will politely reject helping you with things that are not related to social media. It will reply in ways that are very specific to creating content, and it will inherently understand its purpose without you having to explicitly tell it or remind it. This is what gives the users such an incredible experience, and this is the twist I was talking about before. This is what enables you to create a totally unique experience for your users, an experience that’s definitely going to be worth paying for.
Here, let me show you a little behind the scenes of how this works. I’m sure you’ve used ChatGPT a ton of times already, but what you probably didn’t know is that OpenAI has another platform. When you sign in here, you get to access their playground. Here we can pick the mode we want to use, which is Chat in this case. We can pick the model, tweak the behavior a little, and here we can basically set up a chat conversation just like you would see it in ChatGPT. In this window, we prepare the model with some initial instructions and guidelines. For instance, we can tell it what its purpose is, what it’s not supposed to help with, how to respond to certain questions, and anything else you can think of. Potentially, we can give it a long list of super specific guidelines to follow right here. For example, mostly for the fun of it, but we trained our chat model to suggest writing about Feed Hive every time one of our competitors is mentioned in the post that it’s helping improve. I mean, why not?
When you’ve prepared your chatbot, you click the “View Code” button up here, and boom, you get the code that you should use to interact with the API. And this is where you can enter the game as well. If you have expertise in something specific, you can create a ChatGPT for X. If you’re an accountant, you can create Accountant GPT. If you’re a musician, you can create Music GPT. If you’re an advertiser, you can create Ad GPT. It will be chatbots similar to ChatGPT but specialized in very specific knowledge areas. The AI model is now available for everyone to use, but the twist is your expertise. Now, set up a nice UI that your users can access and integrate the API into it. You can use frameworks like React or Vue, or you can use no-code tools like Webflow or Framer. It’s easy to get started, and you can build a nice SAS out of this already.
And it gets even better. In my last YouTube video, I showed you how I fine-tuned the GPT-3 model using OpenAI’s tools. I trained it on a lot of my old YouTube scripts and social media content. And now, I have a model that can produce new YouTube scripts in a style and tone that sounds exactly like me. But obviously, this required much more data than you can easily insert into this little window here. Fine-tuning is the next level. This requires a bit more technical knowledge, but this is where you can train your own chatbot on a very large data set and make it assist the user in very specific ways based on very specific domain knowledge. The data becomes your competitive advantage. If you’re the one with the biggest and most high-quality data set, you will beat everyone else in your niche, even if they also have access to the ChatGPT API.
Unfortunately, the ChatGPT model, or specifically the GPT-3.5 Turbo model, cannot be fine-tuned yet. But it’s coming very soon. So right now, it’s the perfect opportunity to jump on board, start creating your XGPT, get familiar with the API, and start setting up your app. Once the fine-tuning capabilities for this model are open, you can start specializing your chat assistant and immediately get ahead of the game. There’s only been a handful of opportunities like this in the past 20 years: SEO and affiliate marketing back in 2005, social media and advertising in 2010, blockchain in 2017, and now AI in 2023. In just a few years, this is going to be mainstream, something everyone will do. This year is your chance to get on board.
I hope you enjoyed this video. If you want to learn about other super cool ways you can use AI to run your business and become more productive, check out this video next. If you enjoyed this one, please give the video a like and subscribe to my channel for more content like this. I will see you soon for another video.