Feb 06, 2024
How to Make Money With AI? Using AI Tools for Financial Success
Artificial Intelligence (AI) is becoming increasingly prevalent in the business sector. It helps entrepreneurs with various tasks, from analyzing data to creating content and developing marketing strategies.
Therefore, it has emerged as a great way to save money. However, since artificial intelligence is a relatively new technology, its implementation can be confusing for some.
In this article, we’ll discuss how you can use AI to make more money in nine ways suitable for beginners and experts.
How to Make Money With AI Quickly
1. Generate AI-Driven Content
2. Apply AI to Web Design
3. Use AI to Create Online Courses
4. Freelance Code With AI
5. Become a Product Affiliate for AI
Artificial intelligence tools like ChatGPT and DALL-E are designed to be as intuitive as possible, making them accessible to anyone, including beginners.
In this section, we will look at five quick ways to make money with machine learning for those with surface-level knowledge about AI.
It’s important to note that most of these methods require you to have a website. Luckily, creating one is easy with Hostinger Website Builder. Since the tool uses AI, too, you can get professional AI-generated websites in a few clicks and carry on with your side hustles.
1. Generate AI Content
Monetizing content is a popular way to make money online. The most popular methods to do so include putting advertisements on your blog posts and publishing sponsored social media posts.
However, you need to create unique and engaging content regularly to get a steady stream of income.
AI-based tools can make your brainstorming, research, and drafting processes more efficient. For example, solutions like Jasper can generate content for various formats, including a blog post, an Instagram caption, or a YouTube script.
All you have to do is input a descriptive prompt, and the tool will produce the text for you. If you don’t like it, Jasper can regenerate the content to suit your preferences.
You can also add visual elements to your blog posts using AI-generated art from platforms like DALL-E. This is a great alternative for those who don’t have the budget for a professional artist and want a simple illustration quickly.
However, remember that AI-generated content still requires human editing and moderation. Don’t forget to fact-check the content to ensure you provide valid and reliable information for your audiences.
Hostinger Website Builder has an AI writing tool within the site editor. Use it to generate content on your web pages to save time and get over writer’s block. You can also use the tool to create placeholder copy for your website.
2. Use AI for Web Design
Running your own website opens up numerous opportunities to generate income.
Whether you want to sell products, monetize content using online advertising, or join an affiliate program, a professional-looking website is an excellent medium to reach more audiences and customers online.
With the rapid growth of artificial intelligence, it is easier to create your own website and make money out of it regardless of your technical expertise. Many website builders include AI-powered tools that make building a site much easier.
For example, Hostinger Website Builder has an AI Heatmap feature that helps users identify what parts of their websites attract visitors’ attention the most.
Alternatively, you can build a website using ChatGPT to generate various suggestions on its structure, design, or functionality.
You can also practice with drag-and-drop builders, like Hostinger Website Builder, before moving onto customizing WordPress websites with CSS or HTML.
3. Create Online Courses Using AI
Aside from establishing your position as an expert in your field, creating online courses is an excellent strategy for making money.
With the help of AI software, it is possible to improve how you present and market your lessons to attract more customers.
You can use AI technology to start the market research phase. For example, if you want to create a coding course, consider using ChatGPT to learn about the best programming languages to help narrow your target audience.
After that, the AI tool can suggest ideas for the topics and materials.
Additionally, some AI software lets you write compelling marketing copies that deliver unique value propositions to the customers, helping you sell the courses online.
4. Do Freelance Coding With AI
If you are interested in freelance coding, consider using AI tools to streamline your work process. Software like ChatGPT uses natural language processing (NLP) as the base of its AI system, which can help you with various tedious coding tasks.
NLP-based software is an excellent tool to simplify the typically time-consuming process of code documentation. It can automatically generate documentation based on your comments or natural language descriptions of the code.
You can also use AI applications to help you with research. Developers often need to look for code snippets or libraries to solve problems in their programs. With artificial intelligence, it is easier to get recommendations to overcome the issue.
Additionally, NLP AI technology can help analyze and review your code comments to identify potential issues or areas for improvement.
5. Become an AI Product Affiliate
Joining an AI product affiliate program can be a great way to make money. You can sell products and services related to AI technology, such as machine learning software, data analytics, or cloud-based infrastructure solutions.
By joining an affiliate program, you can tap into current market trends and leverage them to earn money.
You will have access to helpful resources from the company, such as marketing materials, customer service support, and even product discounts. These tools can help optimize your promotional effort and reach more audiences.
Check out our article on how to make an affiliate website to start your own business.
How to Make Money With AI Professionally
1. Develop and Market AI Products
2. Offer AI Integration Services
3. Provide AI Consulting Services
4. Invest in AI-Focussed Companies or Funds
Although utilizing existing products is a viable option for making money, AI technology has much more potential.
With a deeper understanding of artificial intelligence, experts can seize more opportunities to generate income with this technology.
Let’s take a look at four advanced methods of making money using artificial intelligence systems.
1. Create and Market AI-Powered Products
Considering the popularity of artificial intelligence solutions, it can be a great idea to develop and sell your own AI-based products. However, AI software development is highly complex and time-consuming.
Fortunately, you don’t have to create machine learning algorithms from scratch. Instead, consider using a publicly available application programming interface (API).
There are many APIs you can utilize to develop your product, such as:
- Google Cloud AI – provides a suite of machine learning services for building intelligent applications. These services include natural language processing, translation, vision, and speech-to-text functionality.
- Amazon Web Services AI – offers a wide range of machine learning services, including computer vision, speech recognition, and language translation.
- TensorFlow – developed by Google, TensorFlow is an open-source machine learning framework. It has a lot of machine-learning tools and algorithms you can use for tasks like image classification and natural language processing.
- OpenAI API – comes with plenty of large language models for generating text, images, and translating.
Each AI works differently, and some APIs may require additional training data to improve their accuracy for specific use cases. The amount of data needed will depend on what API you use.
Therefore, it’s always a good idea to review the API documentation and test the tool with your specific use case to determine whether you need additional training data.
2. Provide AI Integration Service
Many industries, including finance, healthcare, and retail, can benefit from machine learning and AI automation services. As someone with a deep understanding of the technology, offering AI integration services to companies is a good way to make money.
Artificial intelligence can also improve a company’s business intelligence. For example, brands running online marketing campaigns rely on understanding customers’ behavior.
You can introduce AI’s predictive analytics to the system to improve customer, market patterns, and trend identification.
An agency could also use NLP models to analyze customer reviews and feedback to identify common themes and sentiments. Doing so can help them create ad copy that speaks to the specific needs and pain points of their target audience.
Retail businesses can leverage machine learning to provide AI chatbots to their customer service channel. You can train the AI to identify keywords in customer messages and provide answers from a pre-defined database of frequently asked questions.
Additionally, consider integrating recommendation algorithms that use customer data to suggest relevant products based on their purchase history, search history, and other preferences.
3. Offer AI Consulting Services
Another alternative method to make money for an artificial intelligence expert is by providing consulting services to larger companies. As AI is a relatively new technology, many businesses still don’t understand how to use it optimally.
To do this, you need to have a deep understanding of both the AI system and the client’s business model.
Start by identifying what your client wants to improve. Take a closer look at their current systems, processes, and challenges to identify areas where AI integration could provide value.
After that, develop a proposal that outlines your proposed AI integration services. This may include the specific technologies and tools you will use, the timeline for implementation, and the expected results.
With the right expertise, strategy, and approach, AI consultation services can be an effective way to earn money.
4. Invest in AI-Focused Businesses or Funds
Investing in an AI-focused business is another alternative to starting your own business. With the rise of AI’s popularity, many AI startups are emerging, and they need funding to grow.
Ready to start your venture capitalist journey? Invest in your own .vc domain first.
As artificial intelligence technologies become more widespread, investors can get good returns over time. Additionally, these investments can offer diversification benefits that may reduce risk.
However, investing in businesses is a complex process and requires a deep understanding of the market.
Make sure to do your due diligence before making an AI investment. Just because a company or product includes AI doesn’t mean it will be a good way to make money. Take your time to analyze the business and product fundamentals.
Important! We don’t provide financial advice or recommendations. It’s important to do your own research and due diligence before investing in anything. We are not liable for any losses incurred due to any investment decision made by our readers. All investments involve risk, and you should consult an independent financial advisor first.
The immense growth in artificial intelligence market trends makes it an excellent way to earn money.
AI-powered software can help people from different industries and technical backgrounds automate some of their work processes, saving them time and money.
Beginners with limited technical knowledge of AI technology can use various AI tools and platforms to help with their side hustles, such as producing content, creating a website design, making online courses, doing freelance coding, and becoming AI product affiliates.
On the other hand, experts with a deeper knowledge of the technology can utilize it to create more opportunities to monetize machine learning, for example:
- Create and sell AI-powered products
- Provide AI integration services
- Offer AI consultation for companies
- Invest in AI-focused businesses
Regardless of what method you choose, understanding how the technology works is essential to identifying opportunities. Stay up to date with the latest news and market trends around AI to ensure that you maximize your chances for success.
How to Make Money With AI FAQ
In this section, we will answer some of the most common questions about making money with AI.
What Is the Most Profitable Way to Use AI?
There are many ways to make money using AI. For example, beginners can use an AI content generator to create blog posts and monetize them using platforms like Google Adsense.
On the other hand, experts can develop their own AI products and sell them or offer AI consulting services to larger companies.
How Much Money Can You Make With AI?
The amount of money you can make using AI depends on the product or service you offer. Generally speaking, complex methods like developing your own AI-based products can bring more money than monetizing AI-generated blog posts.
Are There Any Risks to Making Money With Artificial Intelligence?
Some ways to make money using AI carry a certain degree of risk. For example, AI utilization can lead to biased decisions and privacy violations. It is important to remember that artificial intelligence is not an all-encompassing solution, and we must exercise greater care when using it.