AI can boost your income through developing new products, or through complementing your existing … [+]
Artificial intelligence (AI) is reshaping and reimagining almost every aspect of our professional lives. From written business communication, to marketing operations, to customer service, to hosting meetings, developing products, and conducting market research, AI has certainly proven itself to be a real game-changer. But what’s perhaps most astonishing about AI and its adoption at breakneck speed is the potential it contains for boosting one’s income significantly—in some cases even if you have limited technical knowledge.
Thanks to its almost-human-like capabilities, especially with generative AI, you can perform tasks in a fraction of the usual time, and save money—while also profiting from it.
Wondering if AI is smart enough to help you make money to beat inflation in 2024? Well, the good news is, AI has a wide range of capabilities, and earning passive income, launching side hustles, and even starting an entirely new venture is not only possible, it’s much easier. It provides you with more options for making money online.
AI enables you to make money online in two primary ways:
First, you can use artificial intelligence to help augment what you are already doing to gain a second stream of income. For instance, if you are already a blogger, you can use AI tools to help you generate new content ideas and suggest innovative ways of expanding your reach to a larger audience, improving your SEO and rankings on Google.
Second, you can use AI to generate entirely new sources of income—whether they are side hustles or fully-fledged start-up ideas and business plans.
Below, let’s focus on both usages of AI for making money—generating previously unheard of business ideas, and complementing existing side hustles.
1. Create An AI Chatbot
If you have good programming and coding skills, you might be able to make money through specializing in developing bespoke chatbots for businesses, to be used as part of their internal processes (i.e. for knowledge sharing for employees) or externally for sales and customer service. You can promote yourself as a freelance chatbot developer on platforms such as Fiverr, and showcase samples of your work, along with proof of ROI or substantial impact.
2. Use AI For Course Creation
Developing online courses is a great way to make money as a side hustle, but it’s even better when you use AI to help accelerate the process. You can use various AI and algorithm-based tools for the market research phase of developing the course content (such as Exploding Topics) to ensure it resonates with your audience.
Some generative AI tools can even help you plan the entire outline and structure of the content, complete with discussion questions and activities.
You can also use tools such as Quizgecko AI to generate course assessments within minutes without you having to create tests and quizzes manually.
3. Develop Your Own AI Product
Cash in on AI by developing your own solution to solve a market need—and sell it. You can use readily available APIs, such as Amazon Web Services’ AI services which support you in creating your own app or adding AI features to an existing product, or OpenAI’s API.
4. AI Consulting
As the technology is relatively new, there are still businesses that are struggling (or simply haven’t made it their priority as yet) to integrate and implement artificial intelligence. If you are well-versed in this field, you could market yourself as an AI consultant and customize your services and integration solutions for the company’s specific needs.
5. Use AI On Canva
If you have a side hustle within digital or social media marketing and you design the graphics for social media, websites, and advertisements, you may find your work cut short and the creative process much easier by using Canva’s design tools such as their Magic Design, or their Image Generator which is powered by DALL-E by OpenAI, and Imagen from Google Cloud.
Find an industry-specific need, and tap into it with an AI-powered solution
These are just a few of the ways AI can be used to help you make money online. No doubt, as artificial intelligence improves and continues to expand in its capabilities, you will discover more amazing ideas with which you can capitalize and leverage the technology to boost your career, side hustles, and financial growth.