Artificial intelligence (AI) isn’t a new phenomenon. It’s been evolving since the dawn of computers but has gotten rapidly more accessible, sophisticated and, in our tender new age of ChatGPT, somewhat omnipresent.
Financial advisors and other experts in the personal finance space have been emphatic about their concerns that consumers are moving a bit too fast with AI. They’re particularly nervous that consumers will share important and sensitive financial information with ChatGPT and other AI platforms, which is generally not a good idea.
But no one can knock AI’s capacity to help you grow your income. There are a ton of ways to make money with AI that financial experts approve of. Here are nine of them.
Invest in the Right Companies — at the Right Time
Amid the rise of ChatGPT, a slew of new startups specializing in AI have popped up, and a number have IPO’d, meaning that consumers can now invest in them. Embrace this wave cautiously and carefully.
“Research AI trends and stay ahead of the curve so you can find great AI-based businesses and startups and invest early,” said Gillian Dewar, CFO at Crediful. “Look at the profits from past tech booms and industry giants that once were doubted as radical innovators. If you invest in some great businesses with the potential to become the next Apple or ChatGPT, you could see windfall gains that are truly life-changing.”
Generate AI Content
James Allen, CPA, CFP, CFEI, founder of Billpin.com, has seen firsthand how AI tools can revolutionize the content creation process. This is why he approves of generating AI content as a way to make money.
“It’s like having a virtual brainstorming partner that never runs out of ideas,” Allen said. “The income from ads and sponsored posts can be quite substantial.”
Use AI for Web Design
“In my experience, AI has made website creation a breeze, even for those without a tech background,” Allen said. “It’s like having your own digital Picasso, and the resulting masterpieces can be monetized in so many ways.”
Create Online Courses With AI
Allen has used AI to jazz up his online courses, and found the results to be impressive.
“It’s like having a personal marketing guru who knows exactly how to reel in customers,” Allen said.
Freelance Code With AI
AI tools have been a game-changer in coding projects, and using them effectively in yours could be a smart money move. It has been for Allen.
“[AI] handles the tedious tasks, leaving me free to focus on the complex ones,” Allen said. “It’s like having a reliable assistant who never takes a coffee break.”
Become an AI Product Affiliate
Allen joined an AI product affiliate program, and describes it “like riding the wave of current market trends. He adds, “The income potential from selling AI-related products and services is significant.”
Create and Market AI-Powered Products
Though a finance professional, Allen has dabbled in developing his own AI-based products, and the market response has been encouraging.
“It’s like planting a seed and watching a money tree grow,” he said.
Provide AI Integration Services
It’s definitely worth brushing up on your AI savvy. Customers are willing to pay.
“I’ve offered AI integration services to various companies, and the demand is high,” Allen said. “It’s like being a magician who can transform businesses with a wave of the AI wand.”
Offer AI Consulting Services
Allen has also consulted for businesses struggling to harness the power of AI.
“It’s like being a tech whisperer, guiding companies through the AI maze to the treasure at the end,” Allen said.
More From GOBankingRates