According to a study done by Next Move Strategy Consulting, the market for AI is expected to grow from its current value of about $100 billion to up to nearly $2 trillion dollars. That massive growth means there's a lot of potential to make money with AI in a variety of ways.
By now, you’re probably familiar with AI, which stands for artificial intelligence. But if you need a little refresher, artificial intelligence is technology that mimics human intelligence to perform different tasks, while learning and growing over time. AI’s ability to imitate human intelligence is why it can be used to make money in so many different ways.
So if you’re interested in harnessing the power of AI, let’s dive into the top ways you can use it to make money in 2023.
X Ways to Make Money With AI in 2023
From offering freelance services, using AI for your own business, or selling AI generated content, here’s a list of the best ways to earn money online with AI.
1. Generate Written AI Content
There’s a lot of potential for AI in the future, but one of the most discussed topics at the moment is AI written content. Between ChatGPT and freelance writing tools, like Jasper, you can quickly “write” content with AI.
What is ChatGPT?
Chat GPT is an advanced AI chatbot that uses natural language processing to have human-like conversations. You enter a prompt into CHatGPT, and it can answer questions, assist you with tasks, compose emails, write essays, and generate code.
AI can be used to generate emails, blog posts, web copy, sales copy, video scripts, ebooks, landing pages, and more. Now, you can’t fully rely on AI alone to write for you – the technology just isn’t quite there yet, and most AI-generated written content needs heavy editing to sound human. But you can use it to assist you as a way to develop outlines or the basis for your content and get over the hump of writer’s block.
2. Generate AI Audio Content
The other day, I was listening to a podcast that had AI-generated audio content in place of someone speaking. You can make money with AI through text-to-speech functions that turn scripts into audiobooks, VSLs, podcast content, and more.
While some people are scared of AI, generating audio content has exciting potential if you think about people’s ability to translate content into different languages or turn written content into something easily consumable for the visually impaired.
3. Create Social Media Content With AI
ChatGPT and other AI tools can be used to create compelling social media content that you can use to promote your business, sell affiliate products, and grow your following. The benefit for content creators is that you can create content so much faster with AI.
Beyond simply growing your own personal social media content, you can leverage AI and sell your services to make money as a social media manager for other companies.
4. Create a ChatGPT App or Extension
For those who are technologically savvy, you can use AI tools to write the code for apps and web extensions. Some of the best tools for writing code are:
OpenAI Codex
Tabne
CodeT5
Polycoder
GitHub Copilot
5. Launch an Online Course With AI
Launching an online course takes a lot of work — trust us when we say that, because we’ve launched several over the past few years. You can use AI to help you write sales page copy, create an outline for your course, generate email copy, and more. It can also be used for things like creating videos, logos, and text-to-speech course content.
Like other types of AI content, you’ll need to understand how to write prompts that get the results you want and spend time editing before you go live with your course.
6. Create Visual AI Content
Midjourney, DALL-E, Stable Diffusion, and others allow anyone to create images for social media, websites, brand images, and more. The images can range from otherworldly to your basic clip art. You have to be very specific with your prompts to get the types of images you want, but most AI tools let you tweak your prompts until you get things just right.
To make money with AI images, you can sell your images on Etsy, Redbubble, and Freepik.
7. Build Websites Using AI
Building a website no longer requires significant experience or time when you leverage the power of AI. Website building tools can help you streamline the process so you can launch a money-making website in far less time.
Some of the most popular AI website builders are Wix, Jimdp, Unbounce, CodeWP, and Framer. You can make money with AI by building website for others or use one you create for your own business.
8. Create YouTube Videos
YouTube is one of the best platforms for businesses and influencers to grow their reach and make money online, and you can use AI to do things like:
Generate video ideas
Design thumbnails
Create scripts
Do closed captioning
9. Create and Sell AI-Powered Products
Developing AI-powered products and services is a large undertaking because of the complexity and time it takes, but you can make decent money selling what you create. There are also public APIs (application programming interfaces) you can use to streamline part of the process, like Google Cloud AI, Amazon Web Services AI, OpenAI API, and TensorFlow.
10. Provide AI Integration Services
AI integration services refers to helping businesses harness the power of AI in different ways, and you can make money with AI by installing programs and coaching business owners on how it’s used.
Industries like finance, healthcare, and even retail can benefit from machine learning services, and helping those businesses use AI to save money and find more efficient ways to work is an excellent option for anyone with a deep knowledge of how artificial intelligence works.
11. Invest in AI-Focused Businesses
The AI landscape has changed dramatically in recent years, and we can expect that to continue into the future. Investing in companies who are developing AI or leveraging it is a strategy to make passive income. There are no guarantees with investing, so it’s smart to do your research and diversify as much as possible.
Can You Really Make Money With AI?
Yes, it’s possible to make money with AI, and there’s a good chance we’ll see even more options in the future. In terms of making money, the big fear is that it’s going to take away jobs and make it more difficult for people to make money in creative careers, like writing, for example. While there might be truth to that, there will always be a need for content created by humans. If we can use AI to be more efficient at what we do, then we’re all winning.
FAQs
Yes, ChatGPT can be used to write emails, blog posts, sales copy, web copy, product descriptions, and more. While the technology has gotten better, it still hasn’t replaced the need for freelance writers who are generally responsible for writing that kind of copy.
The list of what you can use AI for has only grown in recent years, and now you can use it for personalized shopping, having a personal assistant, budgeting, fraud prevention, creating content, personalized learning, driving autonomous vehicles, filtering for spam, and more.
About Millennial Money Man
Bobby Hoyt is a former band director who paid off $40,000 of student loan debt in 18 months on his teaching salary and then left his job to run Millennial Money Man full-time. He helps other Millennials earn more through side hustles, save more through budgeting tools and apps, and pay off debt. He is a personal finance expert who has been seen on Forbes, Reuters, MarketWatch, CNBC, International Business Times, Business Insider, US News, Yahoo Finance, and many other personal finance and entrepreneurship media outlets.
