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A Simple Guide to Making Money with AI
Yes, you can make money with AI, but it’s crucial to distinguish real business opportunities from temporary trends. Too many people chase quick profits without realizing these income streams might disappear overnight. Here’s a guide to help you build a sustainable, profitable business with AI.
What You Need to Know About AI
What is AI?
Artificial intelligence (AI) is a broad term for tech that enables machines to perform tasks that typically require human intelligence, such as decision-making, problem-solving, and content creation.
What is Generative AI?
Generative AI is a type of AI that creates new data from user inputs. It powers popular apps that create text, images, and videos.
What are Large Language Models (LLMs)?
LLMs are advanced generative AI models that understand and generate text, mimicking human language. Chatbots like ChatGPT use LLMs to hold conversations.
Popular LLMs Today
Currently, the top LLMs are OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini. Each has its strengths, so experiment to see which fits your needs.
The “Black Box” Problem
LLMs operate as “black boxes”—even scientists can’t fully understand their inner workings. This lack of transparency is a major challenge in AI research.
AI “Hallucinations”
LLMs sometimes produce inaccurate or misleading responses—known as “hallucinations.” Always fact-check AI-generated content before publishing.
Prompt Engineering
Good prompts lead to better AI results. “Prompt engineering” is the art of crafting effective inputs. Start with a structured approach, including details like task, context, and tone.
Building a Sustainable AI Business
Avoid temporary “arbitrage” plays that may violate platform rules or disappear as platforms adapt. Instead, focus on legitimate business opportunities.
Best Ways to Make Money with AI
- Social Media Marketing Service
Help businesses with social media by creating and managing posts using AI tools like ChatGPT for content ideas, Jasper for posts, and Adobe Firefly for images.
- Podcast Editing Service
Use Descript to simplify podcast editing by editing the audio transcript, saving hours for podcast hosts.
- Video Editing Service
With AI tools like Descript and OpusClip, you can edit long-form videos into bite-sized clips. Demand is growing as video becomes the main medium online.
- Video Thumbnail Design Service
AI tools like Adobe Firefly allow you to create click-worthy thumbnails. Many YouTubers could benefit from better thumbnails to increase engagement.
- Website Design Service
Many small businesses need a website update but don’t know where to start. With AI-powered website builders, you can create professional sites and offer maintenance.
Building Your Online Service Business
- Identify Your Dream Clients
Make sure your target clients need your service, can afford it, and are willing to pay.
- Build Social Proof
Start by offering free work in exchange for testimonials to build credibility.
- Turn Free Work into Paid Work
Once you’ve done good work, pitch clients a low-cost service to convert them to paying customers.
- Use Cold Outreach
Reach out to potential clients with personalized messages. Offer a free sample or trial to get your foot in the door.
- Perfect Your Service Before Scaling
Start small, gain experience, and get good at what you do. Then, scale.
- Use a Webinar Funnel to Scale
Once you’re ready, use webinars to reach more clients. Structure it with an intro, a presentation, and a pitch for your service.
Learn More About AI
If you’re serious about leveraging AI, consider Google’s “AI Essentials” course on Coursera. The course covers the basics of AI and prompt engineering, skills that apply to all major LLMs, including ChatGPT and Claude.
Avoid Get-Rich-Quick Schemes
Temporary schemes may seem attractive, but they rarely last. Instead, build a legitimate, sustainable business that can grow over time.
Want to Master Sales Funnels?
If you’re interested in learning more about building sales funnels that convert, check out DotCom Secrets by Russell Brunson. It covers everything you need to know to build effective sales funnels, and you can even get a free copy (just pay for shipping).
By focusing on real opportunities and honing your skills, you can create a profitable, lasting business with AI. Let’s get started!
