An API is an application programming interface that allows programs to request services from operating systems, software libraries, or other services. APIs standardize how different software applications interact, enabling communication between multiple platforms. The presentation discusses how APIs can help address issues like data silos, reduce costs from automation that relies on graphical user interfaces, and enable end-to-end process automation. Examples are given showing how Amazon transformed into a services-first company by requiring teams to expose data and functionality through APIs, and how Bosch has used APIs between systems to reduce manual work and errors.