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January 5, 2024
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10 Ways to Make Money with AI in 2024

AI is turning out to be extremely useful across industries. But that is not all. AI can be utilized to generate a passive income. Check out these insane ways to use AI to make money.

Arzu Özkan-  Digital Marketing Manager
Arzu Özkan
Head of Marketing

Artificial intelligence is scaring people away, just because they think they might lose their job. But some think AI can be a huge aid to their work. From writing jobs to designing, marketing and even tutoring, AI has been proven worthy, and even an impeccable necessity for every job activity. 

But that is not all. What if you could use AI to make money? It is not just about AI boosting your work productivity or sending bulk mails or even finding creative lines to your blog post. It is about leveraging AI for your benefit. Not just to give your work a good tweak, but to create income. That is a full-time job in itself.

If you do not know how to utilize AI to make yourself rich, here are the 10 best ways to make money with AI in 2024. 

After all, who wouldn’t like a $100 extra per hour right?

How to make money with AI in 2024?

How to make money with AI in 2024

1) Develop chatbots for specialized purposes

Chatbots are the new trend in town. It is at least a 5-step advancement in the field of technology and the best part is that its utility is across fields. This makes it a requirement in every industry. This is where you should see your slot to make money. Build a chatbot that is necessary for particular uses. May that be for the healthcare industry, business building, content creation, sales etc. If your chatbot is worth it, it will gain popularity.

Imagine crafting chatbots that excel in areas like customer support, healthcare guidance, financial advice, or even helping online shoppers find their perfect match. These chatbots, supercharged with AI smarts, can totally transform industries by offering top-notch efficiency and personalization. Think of them as friendly digital assistants that not only make life easier for people but also catch the eye of businesses looking to enhance their services. So, whether you're a tech-savvy entrepreneur or just someone intrigued by AI, diving into chatbot development could be your ticket to a fun and rewarding money-making adventure!

How to make money with AI in 2024

2) Content creation with AI

This probably is something you must know by now. Good content is something that sells anything. And in the dearth of quality content, AI like chat GPT has been of use to multiple industries, including curating website content, blogs, sales content, emails, social media posts etc. Here’s something you can do; create texts, podcasts, and videos to increase the quality of the content and monetize it with sponsorships and ads.

Think of it as teaming up with a super-smart sidekick that helps you craft awesome articles, social media posts, and captivating stories. It's not about losing your personal touch; it's about enhancing your ideas with AI magic. Plus, as businesses and individuals hunt for standout content, your AI-boosted creations become hot commodities. So, whether you're a seasoned pro or just enjoy putting thoughts into words, diving into AI-assisted content creation opens up a world of fun and profit. Get ready to unleash your creativity and make some cash doing what you love!

How to make money with AI in 2024

3) AI for business

If you already have a running business, then bingo! This is your chance to boost it up with AI. If your business has an app, you could integrate it with AI to increase productivity. You could also automate complex tasks with AI. Apart from these, businesses could help their clients with their AI. From communication to tracking client projects and systemising the process.

Imagine automating those head-scratching, time-consuming tasks that used to bog you down. With AI as your trusty sidekick, you can focus on the big picture while it takes care of the nitty-gritty details. Whether it's crunching mind-numbing numbers, sorting through heaps of data, or even making lightning-fast decisions, AI's got your back. And guess what? Businesses are on the hunt for folks who can wield this AI magic to streamline operations and boost efficiency. So, if you're ready to trade mundane for money and innovation, hop on the AI automation train – it's your ticket to a more profitable and stress-free journey!

How to make money with AI in 2024

4) Lead generation

Chatbots can identify purchase patterns among customers. They can interact with customers to understand their preferences by collecting relevant information. Chatbots, when identifying potential customers, can target them with offers and promotions. This can increase sales and revenue.

Using AI for lead generation can be a smart way to generate income. To get started, you can develop or acquire AI-powered tools that analyze data and user behavior to identify potential leads with precision. Create a compelling value proposition highlighting how your AI solution can help businesses find and connect with their target audience more effectively. Market your services through online platforms, social media, and networking events, showcasing real success stories and demonstrating the increased efficiency and quality your AI-driven lead generation brings. Collaborate with businesses across various industries and offer personalized solutions tailored to their needs. As your reputation grows and your AI system continues to refine its lead generation capabilities, you can establish a subscription-based model or charge a fee per successful lead generated. With dedication and innovation, AI-powered lead generation can become a lucrative income source.  

How to make money with AI in 2024

5) Create online courses

Online courses are a booming industry, especially with Universities like Oxford, and Harvard’s advent into providing online courses. Competing with top universities in online courses is difficult. But here is a way to create error-free, relevant courses to sell. From brainstorming ideas for courses to creating visual content for the target audience, AI will do it all.

Creating online courses with the help of AI is your ticket to making money while sharing your passion! Imagine having a virtual teaching assistant that helps you craft engaging lessons, interactive quizzes, and even personalized study plans. With AI by your side, you can focus on delivering top-notch content and connecting with your students, while it takes care of the tech stuff. As your courses gain popularity and your students rave about their learning experiences, you'll find a growing community of eager learners willing to pay for your valuable insights. So, whether you're a seasoned pro or just starting out, harness the power of AI to create and sell online courses that not only educate but also pad your wallet – it's a win-win for everyone!

How to make money with AI in 2024

6) Generate audio with AI 

AI can create multiple kinds of content through text-to-speech functions. AI tools can translate videos and written content into different languages. Such AI audio tools are an excellent aid for the visually impaired too.

Picture this: your ideas come to life as AI-powered tools compose mesmerizing music, produce captivating podcasts, or even craft realistic voiceovers. With AI as your creative collaborator, you can focus on your artistic vision while it handles the technical intricacies. Imagine offering businesses and content creators unique audio solutions that grab attention and leave a lasting impact. As the demand for high-quality audio content continues to surge, your AI-generated masterpieces become sought-after assets. So, whether you're a music enthusiast, a storytelling wizard, or just someone with a knack for sonic innovation, diving into the realm of AI-generated audio is your path to both artistic fulfillment and financial success.

How to make money with AI in 2024

7) AI in e-commerce

AI can personalize the customer experience, driving a tailored experience to the customers. AI can also aid in supply and demand prediction. These predictions can help companies to stay ahead of market trends and predict demand fluctuations. This way you can always ensure you have the right products available in time.

In the dynamic world of e-commerce, leveraging AI can be a game-changer for boosting your bottom line. By tailoring the shopping journey through personalized recommendations, AI enhances customer engagement and conversion rates. AI-powered chatbots provide instant assistance, fostering customer loyalty and satisfaction. Smart inventory management using AI-driven demand forecasting minimizes costs and maximizes revenue by ensuring optimal stock levels. Visual search and fraud detection powered by AI add ease and security to the shopping process, building trust and safeguarding profits. Additionally, dynamic pricing strategies fine-tuned by AI optimize revenue by adjusting prices based on real-time factors. From generating compelling product content to predictive analytics that anticipate trends, AI empowers you to make informed decisions that resonate with customers and drive sales. With AI in e-commerce, you're not just offering products – you're delivering a seamless, personalized shopping experience that translates into tangible financial success.

How to make money with AI in 2024

8) Build websites

Instead of spending money on developing a website with resources, AI can help you build websites from scratch which are tailor-made. The smallest detail from content to pages, will all be designed by the AI. This saves you time and cost.

Building websites with AI involves harnessing the power of artificial intelligence to streamline and enhance the entire process. Begin by using AI-powered website builders or platforms like Wix ADI or Bookmark that employ machine learning to create personalized designs based on your preferences and content. Alternatively, you can integrate AI plugins into traditional platforms like WordPress to automate tasks such as content generation, image optimization, and even chatbot implementation. These AI tools can analyze user behavior to suggest layout improvements and optimize your website for better engagement. Additionally, AI can assist in coding by automatically generating sections of code based on your design inputs. By leveraging AI, you can create websites more efficiently, ensure optimal user experiences, and stay ahead in a technology-driven online landscape.

How to make money with AI in 2024

9) Freelance with AI

AI can help freelancers create impeccable job profiles and make themselves popular online. This is one way to make yourself present and searched for by companies. All you have to do is pick the right niche for you and set up an account on popular freelance work websites like Upwork, Fever etc. You could also get help from AI like ChatGPT for your work.

AI offers freelancers an array of opportunities to boost their income and efficiency. By automating repetitive tasks such as invoicing, scheduling, and client communication, freelancers can focus more on their core skills and revenue-generating activities. AI-driven tools can assist in project management by organizing tasks, setting reminders, and tracking progress, ensuring deadlines are met and clients are satisfied. Moreover, AI-powered analytics can provide insights into market trends, helping freelancers identify lucrative niches and tailor their services accordingly. AI can enhance creative work too, suggesting design options, generating content, or even assisting in code development. As freelancers leverage AI to enhance their productivity and deliver higher-quality results, they can attract more clients, increase project throughput, and ultimately achieve a healthier bottom line.

How to make money with AI in 2024

10) Licensing

Chatbots can gain revenue from licensing agreements. If a vendor has developed a chatbot and is licensed to multiple businesses, the vendor can generate revenue from the licensing fees paid by the businesses.

Chatbots can gain revenue from licensing agreements, where vendors who have developed a successful chatbot can license it to multiple businesses. Through these licensing agreements, businesses pay licensing fees to utilize the chatbot's capabilities on their platforms. This model not only generates a consistent income for the chatbot developers but also offers businesses access to cutting-edge technology without the need for extensive in-house development. The scalability of licensing allows chatbot creators to reach a broader market and maximize their revenue potential, while businesses benefit from efficient and cost-effective customer engagement solutions.

Final Words

AI is a tremendous opportunity to create revenue in multiple ways. All you have to do is find what sector of work fits you the most. Once that is done, you can make use of AI to your benefit.

You no longer need to break your head about finding out ideas, content, selling your products, website, social media, blog optimisation and more. AI will do it all for you. 

Do you need more reasons to use AI now?

Out of numerous ways to use AI, we have listed out 10 ways to utilize AI to boost your income or make money. Check out our list to get an 

idea about boosting your income.

Frequently Asked Questions

1) What will AI do in 2024?

According to researchers, the best use of AI is in healthcare. Healthcare will flourish at a CAGR of 37.5% between 2024 and 2030. Healthcare diagnosis is the most notable use case of AI in 2024

2) What can I sell using AI?

AI can help create a wide variety of digital products. It can create videos, e-books, and content. It can also help in marketing digital products which in turn can increase income.

3) How do we use AI in our daily life?

Out of the multiples applications we use, here are some of the AI tools we use in our daily life

  1. Navigation apps like Google Maps
  2. Virtual assistants like Siri and Alexa
  3. Fraud detection systems in banking
  4. Personalized content generation

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