With the incredible advancements made in technology, earning a living has become a little easier for many people. One of the major technological advancements that revolutionised industries around the world is artificial intelligence (AI). AI has created numerous opportunities for individuals seeking a side hustle or building a business. AI has also improved global companies, helping them to generate more income. AI not only increases income; it also boosts productivity. Today, we are exploring some of the most popular ways people are using AI to make money.
1. Content Creation and Marketing
AI has increasingly become a major part of the content creation and marketing world. Some of the popular AI-powered tools that have transformed content creation are ChatGPT, Jasper, and Writesonic. These platforms are frequently used by writers, bloggers, and marketers to generate articles, blogs, social media posts, and more.
Content creators also turn to AI for help when it comes to optimising their content for search engines (SEO). Using AI to drive traffic to their social media and increase their visibility helps them to monetise their platforms.
2. AI-Powered Trading and Investments
AI is also very heavily used in the finance industry, where AI is beneficial in producing data analysis and predictions. In the world of trading and investments, AI also allows automated trading. Robo-advisors are AI-powered tools retail investors use to create investment portfolios.
Additionally, QuantConnect and Alpaca are popular AI tools traders use to increase their success. These tools help to develop trading algorithms, analyse datasets, and identify patterns. Traders monetise these features by using them to make informed decisions.
3. Online Tutoring and Course Creation
AI tools that allow users to create AI-generated videos and text-to-speech are being used to create online courses. One of the popular AI platforms that skilled professionals are using is Synthesia. These individuals create engaging content, build educational quizzes, and also virtual tutors.
AI is also used on platforms that support students by providing diverse and personalised learning experiences. After building the course, educators offer and sell these courses on platforms such as Udemy, and Teachable, or on their websites, which target niche audiences.
4. Freelance and Gig Work
AI tools such as Canva and MidJourney are popular for freelancers. These platforms support graphic designs, allowing users to create appealing images. These are frequently used because of their user-friendly interface, amazing free features, and high-quality designs, allowing users who lack advanced design skills to create anything they can possibly imagine. These tools, paired with other AI-powered platforms, allow users to provide services such as graphic designing, copywriting, and video editing.
5. Developing and Selling AI Applications
Developers create AI applications that target specific problems and sell them to customers who are facing these issues. These tech-savvy entrepreneurs create a wide range of AI applications, such as those that help to improve mental health, track your fitness, and teach you different languages. Developers also monetise by offering subscriptions. There are even AI-powered coding platforms that allow users who lack coding skills to develop applications. Two platforms that are popular for developing AI apps are AppGyver and Bubble.
6. AI-Generated Art and Music
Individuals have developed side businesses and started their businesses from AI art and AI music. AI-powered platforms such as DALL-E, Stable Diffusion, and OpenAI’s Jukebox are popularly used for these purposes. Through these unique platforms, individuals have created visuals, digital art, and music that they monetize. While many users generate art and sell it on popular platforms like Etsy, many users creating AI-generated music compositions make money through licensing or streaming.
7. Virtual Assistants and Chatbots
Many businesses have been using AI tools for virtual assistance, which enhances their operations. Tech-savvy entrepreneurs develop chatbots that they offer through subscriptions or outright sales. These chatbots are many times tailored to solve problems companies face.
AI-powered virtual assistants enhance productivity by managing customer queries, bookings, and processing orders. They offer a 24/7 service, which leads to an increase in sales and enhanced customer satisfaction.
