Artificial intelligence (AI) continues to gain popularity -- so much so that many people are wondering how to make money with AI. The public launch of the latest version of ChatGPT and rival tools, along with growing investment by businesses to harness AI technology, continues to drive advancements. Although many worry that AI might eventually take their jobs, others want to harness its power to make money.
Artificial Intelligence
Here's a look at seven basic frameworks for the growing number of ways you could make money using tools powered by AI.
Seven ways to make money with AI
As AI becomes a bigger part of our daily lives, more ways to make money using the technology become available. Here are seven ways to potentially cash in on AI:
1. Generate written AI content
Generative AI programs like ChatGPT and Anthropic's Claude enable anyone to generate written content quickly. They can assist with writing content for blog posts, website copy, sales copy for businesses, sponsored social media posts, and more.
AI can assist with developing an outline, generating paragraphs, brainstorming ideas, and even writing entire pieces of content. The technology can help freelance writers produce more content by assisting them with getting past writer's block to write faster.
More advanced AI tools, like Jasper.ai, can help anyone create professional sales copy. You can generate copy for emails, marketing landing pages, and advertisements. AI can also help develop scripts for videos or speeches, e-books, workbooks, and more. You can offer these copywriting services to clients to make money by producing AI-generated content.
2. Create AI-generated art
AI tools like Picsart, Leonardo AI, Adobe (ADBE -1.82%) Firefly, DALL-E, Stable Diffusion, Grok by xAI, and Midjourney enable anyone to create prompts that generate images. The more detailed a prompt you give the AI, the better the images it can generate. Sites like PromptBase allow you to list and sell these prompts, as well as find and create them.
You can also make non-fungible tokens (NFTs) of your art and sell them or turn your AI-generated art into a meme you monetize. Your AI-generated art can even be made into physical products you sell, like t-shirts, wall art, or decorations.
3. Create YouTube videos
AI tools allow anyone to create videos for YouTube so they can promote or sell a product or service. ChatGPT can generate video ideas and scripts, and the program has a text-to-speech feature for creating a voiceover for the video.
Meanwhile, you can use programs like Synthesia to generate videos to upload to YouTube. Other AI video tools include Alphabet's Google Gemini from Alphabet (GOOG +3.10%)(GOOGL +3.13%), FlexClip, Veed, and Canva.
If you create evergreen videos (i.e., those with content that will remain relevant), they can generate recurring passive income from ad revenue or affiliate links embedded within the video.
4. Make AI-generated digital visual products
You can also use AI to help generate many types of digital visual content, like digital ads for websites, business logos, and marketing materials. You can use it to edit photos and other graphics more easily as well.
Tools like AdCreative.ai allow you to make commercials and social content with AI that you can sell to businesses. Meanwhile, Canva has AI-powered tools that make creating and editing graphics, videos, and presentations easy. Adobe also offers AI tools for making digital visual products.
7. Create online courses
You can use AI software to help create online courses you sell, including those teaching others how to use AI. Artificial intelligence tools like ChatGPT can help you brainstorm ideas and topics and develop course materials.
AI tools can help you create videos, generate scripts, and record voiceover lessons and other course materials using a text-to-speech tool. AI can also help you put together materials to market and sell your online courses (potentially on a website you designed with AI-powered tools). Several AI tools empower you to create online courses, including Coursebox, Course AI, Mini Course Generator, and Thinkific.
Can you make money with AI?
Anyone can make money with AI, including you. The technology can help anyone create content such as blog posts, videos, and online courses to sell to companies or through online platforms to generate income. Here are some tips to help you get started making money with AI:
- Get familiar with AI tools: Start using free AI tools to create content, learn the best prompts to develop high-quality content, and determine the best ways to monetize your AI-produced content or services.
- Upgrade to the best AI tool for your purposes: If you find free AI tools limited, spend the money to upgrade to an AI tool with more features to help you create the content you want.
- Be unique: Because anyone can use AI to create content, you must differentiate yourself from the competition to make money with AI. That could mean focusing on a specific niche, developing your own personal brand and voice, providing top-notch services to clients, and humanizing your content.
- Don't stop learning: You'll need to stay up-to-date with the latest AI technology, which is constantly evolving.
How to start an AI business
AI can empower anyone to start their own AI-powered business. Here's how:
- Find a problem you can solve with AI.
- Set clear objectives.
- Develop a business plan focused on how you can leverage AI to solve that problem.
- Find the right AI technology to build your solution.
- As customers start adopting your AI solution, build a team to help you expand your business.
Here are some other factors to consider before starting an AI business:
- How much time you have to dedicate to building your AI business
- Whether you have the necessary financial resources to invest in the business
- Whether you have the skills to build and manage a team to help you grow your AI business
- How much competition you'd face in the space
Related investing topics
Key ethical considerations when using AI to earn money
It's essential to consider the business ethics of AI when using the technology to earn money. Some key ethical considerations include:
- Avoiding bias: You need to ensure that AI isn't discriminating against specific individuals or groups.
- Privacy: You must guard personal customer data to prevent misuse.
- Transparency: Inform users and customers that you're using AI and how you're using it while protecting their data.
- Don't misuse the technology: Don't use AI to create a deepfake, especially one that could harm a competitor.
- Empower humans -- don't just displace them: AI-powered automation can make humans even more productive, enabling you to grow your business, not just cut costs by replacing humans with technology.
FAQ
About the Author
