Artificial intelligence (AI) has now become an essential tool in many industries. Generative AI applications can complete repetitive tasks like answering customer FAQs, and AI-powered tools can perform complex tasks like creating product schematics and writing software code. These advancements have positioned AI as a great way to explore new opportunities to make money online.
The best part is you don’t need access to expensive AI technology to generate income. You can launch an AI-powered business and make money online with a commercially available application like Google Gemini or ChatGPT.
Here’s an overview of AI business ideas, artificial intelligence tools, and tips on how to make money online using AI.
What is AI?
AI, or artificial intelligence, refers to computer systems designed to simulate human intelligence. These include learning, adapting, reasoning, problem-solving, decision-making, language, and speech and pattern recognition. Like the human brain, an AI tool typically can learn from experience (also known as its “training”), adapt to changes, and improve over time.
Subsets of artificial intelligence include:
Natural language processing (NLP)
Natural language processing (NLP) deals with the interaction between computers and humans through natural language. Think tasks like language understanding, language generation, and machine translation. Most AI content generation applications rely on NLP.
Computer vision
Computer vision enables machines to interpret and make decisions based on visual data. It does this by analyzing graphics, still images, and videos.
Machine learning (ML)
Machine learning (ML) algorithms enable computers to learn from data analysis to make decisions or predictions. AI-generated art and AI writing tools result from different types of machine learning algorithms that allow AI systems to create content based on patterns detected in human output.
Deep learning
Deep learning, a subset of machine learning that involves neural networks with multiple layers (deep neural networks). These networks help machines improve image and speech recognition.
How to make money using AI: 17 ideas
- AI software development
- AI data analytics
- AI-powered chatbots and virtual assistants
- AI written content
- AI graphic design
- AI website creation
- AI video editing
- AI digital marketing
- AI affiliate marketing
- AI translation services
- AI-powered predictive analytics in finance
- AI-based training programs
- AI hiring and recruitment
- AI cybersecurity
- AI inventory management
- AI agricultural management
- AI in supply chain optimization
The speed at which artificial intelligence has developed has allowed it to permeate countless industries, from writing to data analytics. Market trends have produced a surge in AI applications throughout the economy, making it easier than ever to find ways to make money using AI. In fact, Statista predicts that the AI market size will reach $826.7 billion by 2030.
Here are a few of the top ways to make money using AI:
1. AI software development
AI tools can write the code that powers many types of software applications. This can save time and spare human workers the tedious task of drafting lines of code. This means you can work as a freelance coder and software developer, using AI coding tools to create programs for clients.
The software you create with AI can also incorporate AI models. For instance, you could use AI to create automated bookkeeping software that uses machine learning algorithms to process ledger entries and generate financial reports.
2. AI data analytics
Embracing AI data analytics services includes the use of deep learning, NLP, and sometimes computer vision (depending on the nature of the data and the insights sought). You can leverage AI technologies to gain insights, optimize processes, produce data visualization, and create new industry opportunities.
Many businesses pay for actionable information that can drive decision-making. Some of the leading AI data analytics products include RapidMiner, DataRobot, and Domino.
📚 Recommended reading: Top AI Statistics and Artificial Intelligence Trends
3. AI-powered chatbots and virtual assistants
There is ample market demand for customer service AI chatbots. Unlike human representatives, powerful AI chatbots can generate thousands of replies per minute, letting you serve customers online with great efficiency.
Create and provide AI chatbots or virtual assistants to businesses looking to enhance their customer service operations. You can make money with AI by personalizing your AI chatbots to automate responses and improve customer satisfaction on clients’ websites or platforms.
4. AI written content
Thanks to NLP, AI writing tools can specialize in content creation that mimics human syntax with impressive precision. For example, freelance writers can use AI writing tools to generate ideas and write faster than they could unassisted. With AI-powered content generation, it streamlines the creative process, which opens up their bandwidth to offer writing services to more freelance clients, leading to higher pay without much additional effort.
In today’s business landscape, where AI tools like ChatGPT, Google Gemini, Jasper AI, Copy.ai, Writsonic, and Rytr contribute to content creation, the role of an editor becomes crucial to ensure content quality, coherence, and alignment with brand values. That means, even if you don’t use AI applications for content creation, you could make money with AI by becoming an editor of AI content—offering a human touch to the high-volume output of AI tools.
5. AI graphic design
Many AI-powered tools can produce AI-generated art for a variety of purposes. For example, you can use AI image generators for digital artwork like corporate logos, web design, t-shirt graphics, and more. Use a powerful tool like Midjourney or DALL-E to speed up the process of creating digital art for your clients. Once they sign off on a concept, you can use your editing skills to customize and perfect the AI-generated artwork.
Typically, you only need to prompt the AI art generator with a text description of your design idea, and the tool can create images based on your words. You can also use an AI-assisted design tool like Adobe Sensei or Canva to develop your visual concepts.
6. AI website creation
AI tools can design and build websites with remarkable speed. Utilizing AI tools, you can create a custom website that aligns with your objectives, like an ecommerce site or photography portfolio. This might mean building sites for clients or designing your own website to represent your business. AI-powered website builders include Wix as well as more niche AI-powered website builders like CodeWP and Framer.
7. AI video editing
AI tools can now cut and edit videos based on a series of written inputs. AI video editing software like PictoryAI and Animoto works on everything from low-budget YouTube videos to professional films, TV shows, and commercials.
If you have foundational skills in video editing, incorporating AI tools can enhance your efficiency, helping you expedite the editing process. This increase in productivity can help you accommodate more clients. While a human editor’s oversight remains valuable, machine learning advancements have enabled AI software to generate high-quality video content with reduced need for manual intervention.
8. AI digital marketing
There are AI tools that can handle nearly every aspect of digital marketing and even help you manage social media brands. You can integrate AI solutions that aid in content creation, schedule paid advertising content (through a combination of data analysis, predictive analytics, and automation), write blog posts, optimize sites for search engines, draft sponsored social media posts, and help with conversion rate optimization.
Many AI-powered marketing campaigns start with a set of human-crafted digital marketing materials. From there, AI tools can create and disseminate more content to help promote your clients or sell products and services thanks to AI content creation.
📚 Recommended reading: How To Use AI for Sales, Plus 8 Effective AI Sales Tools
9. AI affiliate marketing
Make money with AI tools by getting into the affiliate marketing game. As an AI-powered affiliate marketer, you can generate income by promoting other companies’ products or services and earning commission. AI tools can help you set up an affiliate marketing website in part by observing search trends to figure out what products are worth featuring. Once it’s up and running, an affiliate marketing website can be a great side hustle, bringing in passive income while you focus on other projects.
📚 Recommended reading: AI Affiliate Marketing: How To Earn with Artificial Intelligence
10. AI translation services
Large language models (LLMs) have a deep understanding of many languages, making them useful as translation tools. If you’re multilingual, you can offer AI translation and localization services. When you start an AI-assisted translation service, the AI translation tools produce a basic translation, and then you review the machine’s output, checking for accuracy and syntax before delivering to clients.
11. AI-powered predictive analytics in finance
Financial analysts now use AI for predictive modeling. This could involve building AI algorithms for stock market predictions, risk assessment, or fraud detection in financial transactions. Learn more about these data analysis applications by checking out the existing AI finance software in this space, including Kensho, H2O Driverless AI, Palantir Foundry, and IBM Cloud Pak for Financial Services.
12. AI-based training programs
Using AI, you can create online courses, training programs, and workshops. Use AI to create an outline for a course and flesh it out with unique content, relying on your expertise to finesse the AI’s output and tailor it to your target audience. On a business-to-consumer (B2C) basis, these courses can cater to individuals looking to upskill; on a business-to-business (B2B) basis, they could serve businesses looking to educate employees about their industry or buyer personas.
13. AI hiring and recruitment
Develop custom AI solutions for automating the hiring process, including résumé screening, candidate matching, and interviews. This can save HR departments time and resources. Many of the nation’s leading job recruitment platforms already use AI-powered software to sort through applicants. Consider building specialized AI tools for niche businesses looking to hire rare skill sets.
14. AI cybersecurity
AI-powered cybersecurity solutions help businesses detect threats and anomalies and monitor for these in real time. With cyberattacks on the rise, businesses are willing to invest in advanced security measures.
If you enter this field, your target audience will likely be companies that store large troves of customer data. For example, you would work to protect sensitive financial data that would have significant consequences if compromised.
15. AI inventory management
Inventory management is a complex process that AI tools can simplify and be used for to help you save time. With AI-powered software, you can track the movement of products through a supply chain, predict stocking needs based on customer behavior, and update inventory records as products are sold and restocked.
As a digital entrepreneur, you can use an AI-powered all-in-one inventory management solution. Or, you can make more money by concentrating on a specific niche like warehousing or shipping logistics.
16. AI agricultural management
AI applications can now help with precision agriculture, crop monitoring, and yield prediction. These solutions can help farmers optimize their operations and improve crop yields. If you work in agriculture, you can join the farmers, seed producers, and resource managers who already make money with AI tools while improving food production.
17. AI in supply chain optimization
According to a 2024 McKinsey & Company survey, 53% of respondents saw more than a 5% increase in revenue when leveraging AI tools for supply chain and inventory management. Use AI to perform tasks like optimizing inventory management systems, organizing routes and suppliers, performing quality control, predicting and managing risks, and forecasting demand.
Tips for making money with AI tools
Now that you’re familiar with those 17 ideas for how to use AI across a variety of industries, here are a few quick tips to consider as you get started.
- Find pain points or inefficiencies. Research your niche and its broader industry to find use cases where AI services can add value and resolve customer pain points.
- Test it out. Depending on your business idea, use no-code platforms or AI-powered APIs to design a simple product prototype. If you use Shopify, test AI integrations by adding AI-powered Shopify Apps to your store.
- Ask for feedback and make continuous refinements. Especially as you’re just starting out, it’s important to ask for feedback and refine your products or services based on that constructive criticism.
📚 Recommended reading: Best Artificial Intelligence Apps for a Range of Uses
Start your business using Shopify’s AI tools
Considering how far artificial intelligence tools have come in recent years, you have access to a lot of AI solutions to help turn your entrepreneurial dreams into reality. Commerce-driven AI makes it easier than ever for you to start and grow an online store that can compete in your industry.
Whether you’re writing product descriptions or need help turning live chats into checkouts, Shopify Magic supports you 24/7 with the powerful AI tools to help your ecommerce business thrive.
How to make money using AI FAQ
Can you use AI to make money?
You can use AI tools to create optimized websites that bring in ad revenue, offer services like AI-powered accounting and bookkeeping that you advertise on freelance sites, or focus on content creation by using AI-powered tools to generate text and graphics for your clients.
How much can you earn using AI?
Earning potential with AI can vary widely depending on how you leverage the technology, your skills, time, industry, niche, and product demand. Generally, you can expect to earn monthly income from a few hundred to a few thousand dollars, but that also depends on factors like your marketing efforts and profit margins.
What are some AI tools you can use to make money?
Among the AI tools you can use to make money with AI are ChatGPT, Jasper AI, Copy.ai, Writesonic, Rytr, Pictory, Animoto, RapidMiner, DataRobot, and Domino.
Are there any risks associated with making money using AI?
Yes, as with any new technology, there are risks associated with making money with AI. You should do your own due diligence when it comes to assessing the risk of using AI-powered platforms for your business, but here are a few considerations: AI algorithms can make mistakes (known as AI hallucinations), cite outdated data, and often lack the ability to cite the sources where it found information. There also could be potential legal risks associated with using AI tools in certain situations, so always consult with your attorney before embarking on a new business venture that utilizes AI technologies.
Can you make money using ChatGPT?
Yes, you can make money with AI by incorporating ChatGPT into your products or services. For example, you could offer AI chatbot services or automated customer support, or use the AI tool for freelance coding or content creation.
