With every major advancement in human history from the industrial revolution to the internet there are those who adopt new technologies and create generational wealth and there are those who miss out or who just fear change.
But here's the problem. With new AI advances announced every single day it can be difficult to identify the best opportunities when it comes to building a business and making passive income with AI.
So in today's video I'm going to give you seven ways that you can apply AI right now to your life and work that will help you to get ahead of the curve and make money or save time with AI.
GEN-AI Saas Company
So first up I want to jump into software as a service as software companies typically give the biggest return on your time investment. They're what I focus my time building. However they are challenging to build. If you're up for the challenge you could build a generative AI copywriting business using the OpenAI GPT API because
There a lots of copywriting startups like Jasper, copy.ai and Writesonic who are using the GPT API and are charging for it by building an easy to use interface on top of GPT3.5 or GPT4.
These 3 companies got into the Gen-AI space with early mover advantage. Copy.ai then led with affordable pricing while Jasper and Writesonic went for just a huge volume of features by adding in things like image generation and chatbot creation. But that doesn't mean there isn't room in the copywriting space.
In my opinion even with GPT-4 the copy you get back very much depends on the prompts you supply and so focusing on a specific niche such as fiction writing or something like sales copy or adding in features that make the output copy more unique and reliable is going to make your business stand out.
OpenAI recently announced the ability to fine-tune your own model using GPT-3.5 and so you could train your own model by using any existing blog posts you might have written and you could do this with some simple UX for your customers by adding in Google Search Console Integration and automatically pulling in your existing blog pages.
Copywriting is a huge market and if you can win the rewards will be exponential. The more niche you go and the easier you make things for your customers the more likely you'll be to carve out a successful Gen-AI copywriting business.
AI Summary Tools
Sticking with software, next up we have AI Summary tools. These SaaS services summarizes any topic in a few sentences, drawing from hundreds of articles, saving users time and effort.
Businesses like Perplexity.ai and tools like Mem, Shiken and Notion can quickly summarize lots of information. Notion recently added in the ability to summarize tasks within a project table saving it's users tonnes of time.
With existing manual knowledge businesses like Blinkist and Headway doing really well using book summaries and book covers which are created manually an automated book summary library would be awesome.
As with anything Gen-AI the more niche you go the higher your chance of success is as you can really focus your efforts on a narrow audience before expanding out. So focusing on things like summarizing scientific articles or podcasts or videos and training your AI model to become the best product in your niche is a great way to win over customers.
If you're not into building tech companies you can also use summary tools to reduce your learning time by having them summarize self-development books, blog articles or even videos like this one.
AI To Mobile
Next up I want to talk about using APIs to create applications that utilize the information and data provided by AI models. And specifically I want to talk about mobile applications because this is still a pretty under-served area.
By focusing on mobile development you can bring AI models to a large group of people who prefer to access tools on the go. And this has all been made possible by mobile phones getting increasingly powerful and mobile chip manufacturer Qualcomm moving towards processing AI workloads on-device rather than in the cloud to drive performance, privacy, security, and cost considerations.
Apps like Lensa and Zoomerang have generated millions in mobile revenue by getting stable diffusion and its latest video AIs like Deforum and Restyle into the hands of mobile users to create fun and engaging AI art and video which can then be shared to socials.
There are also loads of ChatGPT clones that popped up before the launch of the official ChatGPT app.
As with Ai SaaS tools we want to think about how we can create something with a unique selling point that provides value to a specific audience. Maybe we want to focus on something like language learning or maybe an AI coach available on demand anytime or even soemthing very niche and specific like an AI recipe generator.
AI For Marketing
Aligning your AI business to sales and marketing outcomes is an easy way to grab the attention of potential buyer because everyone wants to land more sales and grab people's attention without having to spend hours and hours creating sales and marketing content.
If we think about marketing it's different types of copywriting and images displayed in different formats designed to grab the attention of potential customers.
At the top of our marketing funnel are things like social media posts and paid ads. If you're running a social media marketing agency or you're building your own business AI can save you lots of time here by generating hundreds of social posts in just a few minutes.
You can generate AI post ideas and the copy itself and then pull it into Canva. For an added level of engagement you can even add AI-generated voice over using tools like 11-Labs and if you want to short-circuit this further there are lots of great text-to-video tools out there that enable you to create video with voice-over and captions for socials.
For example you can use AI to create landing pages and irresistible offers in minutes. This allows for A/B testing and fast experimentation which is ideal for everyone from startups testing ideas to drop shippers testing products quickly. Companies like SiteKick.ai are already doing this as are existing page builders like Unbounce.
Newsletters can generate sponsorship and grow your following but they can be time consuming. We can leverage AI to write high-quality content for newsletters or email campaigns, either for clients or your own business.
Tools like Jasper are now pulling all of these together to build complete marketing campaigns from a single brief where everything from social posts to blogs and newsletters are generated.
We can even use ChatGPT to find a specific use case or product idea by asking it for business ideas then create a website landing page and then market the offering to people who could use it.
AI For Sales
Where marketing is grabbing people's attention sales is all about closing deals and building revenue and AI can help you out massively here too.
Once you have a list of potential leads or existing customers from your marketing campaign we can plug GPT into google sheets and generate hundreds of personalized outreach emails and reduce the time it takes to create personalised messages.
ChatGPT can even help us to write potential follow up emails which we can then plug into a messaging campaign if we're using tools like Hubspot.
There are also some great tools out there like Lemlist and Apollo that natively integrate AI into their multi-channel outreach platforms.
For example you can generate a Linkedin direct message and then follow-up on email and if you have a sales team you can even get the AI to write sales scripts for your team to generate high-quality sales copy quickly and efficiently, allowing you to take on more clients and scale your business.
At the closing end of sales things like contracts can be hugely time-consuming and complex to review. Tools like Spellbook use GPT-4 to help you to understand congrats and save time on contract reviews. While you probably want a lawyer to look over large contracts this can be expensive and so AI can save both time and money if you are trying to conserve funds as you scale.
AI For Agencies
Running a service business might not have the scale of a tech platform but it's much easier to set up and start quickly generating revenue as you offer done-for-you services to others.
There are a bunch of ways that you can integrate AI into a service business and streamline your profits.
Although AI and ChatGPT is hugely popular very few businesses have the time or expertise to integrate AI into their organization at scale. A little bit like starting a social media marketing agency where you can offer to run social campaigns for businesses why not consider stating an AI agency? Services might involve training employees how to get the most out of AI tools right up to implementing custom AI workflows and solutions to automate a specific business function for your customer. Prompt engineering itself is a huge opportunity with those able to write effective prompts able to leverage way more with the same AI tools.
Another area where service businesses can massively boost their revenue with AI is around content generation.
For example thumbnails are an essential component of getting people to click through to your product or social media content. You can use use Dall-E, MidJourney or stable diffusion to create high-quality YouTube thumbnails without requiring advanced artistic skills. AI-generated thumbnails require prompt-engineering skills and by mastering more complex image generation tools like stable diffusion where you can train a model using your own images you can quickly leverage these skills as a freelancer on sites like Fiverr or as a dedicated thumbnail service on your own website.
Creating an AI Chatbot
Method number 7 is probably my favourite as it's the most creative. AI models are able to simulate human conversation and offer an accessible user interface for people to interact with.
There are some great examples of this out there with companies such as character.ai enabling people to build AI characters and share them with others.
Similarly AI-generated social media influencers are getting millions of followers with some charging upwards of $10,000 per post despite being completely AI-generated.
You can build your own chatbot or AI avatar pretty quickly. Tools like Botsonic allow you to design your own chatbot that can be trained on your own documents and knowledge base and then embedded on a website.
There are a tonne of use cases here from charging a service to build chatbots for others to creating your own AI chatbot that can talk with your audience or customers to delivering AI coaching and other experiences.