Artificial intelligence (AI) is such a hot topic these days that many people are wondering how to make money from AI. The public launch of the uber-popular ChatGPT and the growing investment by businesses to harness AI technology are creating a media frenzy. Although many people worry that AI might eventually take their jobs, others want to harness its power to make money.
Image source: The Motley Fool.
Here's a look at seven basic frameworks for the growing number of ways you could make money using tools powered by AI.
Artificial Intelligence
Artificial intelligence is the use of machines to mimic human intelligence.
Seven ways to make money with 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 content
1. Generate written AI content
Generative AI programs like ChatGPT enable anyone to generate written content quickly. It 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 advertisem*nts. AI can also help develop scripts for videos or speeches, e-books, workbooks, and more. You can offer these copywriting services to clients and make money producing AI-generated written content.
2. Create art
2. Create AI-generated art
AI tools, like DALL-E, Stable Diffusion, 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 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
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 on YouTube.
AutoGPT
AutoGPT is an artificial intelligence (AI) agent that can complete complex tasks without human intervention.
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 digital visual products
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.
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.
Pitch decks are another type of digital visual content you can produce with the help of AI. They are a series of slides that help start-up companies tell their stories to investors and potential business partners. AI tools like ChatGPT and Tome can help creators produce pitch decks more quickly for clients, which they can find on freelance sites like Fiverr (FVRR 0.45%) or Upwork (UPWK -0.75%).
5. Build websites
5. Build websites
AI tools can help you build websites. You can build websites for small-business clients or create them for yourself to produce income from affiliated marketing, ads, or subscription sales.
Website-building tools, like Wix.com (WIX -0.45%), can help anyone create a professional-looking website through templates or Wix Artificial Design Intelligence (ADI). You can quickly create websites for clients or build them to sell your products or promote affiliate marketing links.
6. Generate audio content
6. Generate audio AI content
AI can help create many types of audio content through text-to-speech functions. You can use AI prompts to write a script for an audiobook and then a text-to-speech creator to generate the audio for the book. Play.ht, Murf.AI, and Listnr are among the top-rated AI voice generators.
AI tools can also help translate videos or written content into a different language. For example, Nova A.I. software allows you to translate and add subtitles to a video. You can provide video creators with translation services through freelance sites like Upwork and Fiverr. You can also use text-to-speech tools to translate written content into an audio format or to convert written text into audio for the visually impaired.
7. Create online courses
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 a script, 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 to customers (potentially on a website you designed with AI-powered tools).
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Can you make money with AI?
You can make money with AI. It can help anyone create content like blog posts, videos, and online courses to sell to companies or through online platforms to generate income. You can start with the AI tools used 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.
However, 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. You'll also need to ensure you're keeping up with the latest AI technology, which is constantly evolving.
FAQ
How to make money with AI: FAQs
Can I use AI to make money?
You can use AI to make money. The technology can enable you to create a variety of content you can monetize. You can also make money developing online courses with the help of AI. As your experience with the technology grows, you could even develop a course teaching others how to make money using the technology.
How can I use AI for passive income?
There are a few ways to generate passive income with AI. You can use it to create evergreen content, like YouTube videos or a website with affiliate marketing links. These methods can generate passive income from ad revenue and product sales.
You could also invest in AI stocks or exchange-traded funds (ETFs) focused on owning AI chatbot stocks. Some large companies focused on AI -- like Microsoft (NYSE: MSFT), an investor in OpenAI (the company behind ChatGPT) -- make dividend payments to their investors. Likewise, some AI ETFs own dividend-paying stocks focused on AI and distribute those dividend payments to investors.
How can I make money with OpenAI?
You can make money using OpenAI's technology, including its popular ChatGPT program. That technology can help you generate content, like blog posts or YouTube videos, that you can monetize.
How can I make money using ChatGPT?
There are lots of potential ways to make money using ChatGTP. You can use the AI-powered chatbot to help create different types of content you can monetize. For example, ChatGPT could help you generate written content, like blog posts or sales copy, and you could sell your copywriting services to clients.
Matthew DiLallo has positions in Fiverr International. The Motley Fool has positions in and recommends Fiverr International and Wix.com. The Motley Fool recommends Upwork. The Motley Fool has a disclosure policy.
