OpenAI API Key

admin

Goal

I am a paid personal user who wants to:

  1. Use the API for learning and experimentation from Python apps.
  2. Understand how to create an API for such purposes (as briefly as possible).
  3. Learn the necessary options while creating the API.
  4. Identify a cheap model for experimenting with Agentic AI.
  5. Know where to monitor the usage of the API once in operation.

How to Create an API Key (Briefly)

  1. Log in to OpenAI’s platform.
  2. Navigate to API Keys under account settings.
  3. Click "Create secret key" and store it securely.

Necessary Options While Creating the API Key

  • Use the default project (sufficient for single-user experiments).
  • Set rate limits in Billing Limits to control costs.
  • Choose personal API keys instead of service accounts.
  • Set permissions for the API key: All (Full control over API access and settings).

Cheapest Model for Agentic AI Experimentation

  • GPT-3.5 Turbo is the most cost-effective option for agentic AI experiments.
  • GPT-4-Turbo is available for more advanced reasoning but costs more.

Where to Monitor API Usage

  • Track API usage and costs at Usage Dashboard.
  • Set spending alerts and limits in the billing section.

References