Making money with AI

The “Making money with AI” trend is just getting started and we’ll likely see an explosion of this phenomenon. As long as AI still requires human intervention, there will be demand for people who specialize in specific AI tools.

Some examples:

  • Prompt engineering. According to this interview with Sam Altman, prompt engineering will mostly no longer be a thing in a few years. Until then, it looks like the demand is growing. Recently, AnthropicAI set the market rate for a prompt engineer at $250k - $335k + equity.

  • Fiverr (and similar) gig-type work. One of the largest categories of Fiverr is logo making. This just got trivial thanks to Midjourney. The question is how much business owners will cut out the middle man here. Is it easier to just tweak the prompts yourself vs communicating with the guy who makes the logo for you? I tend to think that someone with a large library of well-organized prompts will (for now) produce much better results than a layman.

  • Making AI apps. Thanks to OpenAI, AI is on the path to become an infrastructure for people to build apps on top of. The OpenAI API, for instance, is super easy to use. I can see influencers and in general people with large audiences shipping me-too AI apps just because they can and because they can get their audience to use it.

  • Marketing AI apps. As I wrote about here, I believe the three moats of AI startups will be:

  1. Distribution (marketing)
  2. UX
  3. Being first to market

The most outsourceable of the three is distribution (marketing). I expect the competition to get fierce here and the marketing costs to skyrocket (right now they’re basically 0 thanks to AI being the most viral topic on the internet).

  • Scams. Unfortunately I fully expect the “Make money online” types to start riding the AI trend big time. Many already have (I won’t link to them for obvious reasons). The not-so-secret secret here is that the best way to make money online is to sell desperate people the dream of making money online.

How are you making money with AI (and how much are you making, if you’re comfortable sharing). Only interested in legitimate ways that actually provide value to customers.

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Thank you for sharing.

One other thing I have been going through these days is , Using AI to get a content on any interesting topic, Using AI to convert that text into Sound and Using AI to Add that to a video. Now uploading the final product on the social media as a reel or a video.

Now once you get enough subscribers and views , Money is coming :moneybag:

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Fingers crossed! It’s still early so there’s definitely money to be made :grin:

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:smiley: All this will revolutionize a lot , as i think @andrei

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Another big one is Youtube and Spotify background music / royalty free music. With tools like Riffusion it’s now trivial to create such tracks and there’s a whole niche of people making $xx,xxx/mo uploading such content.

Also things like 10h fireplace videos, nature videos, etc. Anyone remember the lofi girl channel that went viral during the pandemic?

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So true …

Don’t remember that specific channel but have gone through a lot of such media on YouTube as you said @Frederick , Nature background and a music and yes they have a lot of views so must have been earning a lot :smiley:

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Some ways you can also make money out of the AI gold rush:

  1. YouTube videos on specific niches. It’s still easy to compete. And with ChatGPT + Descript + Play.ht you can create scripts and basically automate most of it.
  2. Print on demand with designs from MidJourney/Stable Diffusion/Dall-E/Leonardo. Connect it to printful, market it with FB Ads (or in Etsy). Make bank.
  3. Consulting for AI companies that are starting to grow and have funding. You need good marketing skills here.
  4. Arbitrage between those that understand AI and those who don’t: Courses, Ebooks, Seminars, etc.
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for #1, wouldn’t you still need video background, or am I missing something here?

I think for most of them you’ll still need some kind of background in certain area (mostly marketing). ChatGPT/Descript/Play.ht make things easier.

In the YouTube example, there are many channels that are faceless and that you can use the AI tools to make it easier and faster.

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What are some of the companies you use for this work flow.

I am launching an automation tool. Its basically prompts chains supercharged with Python and APIs.

The goal is to give prompt engineers some % money every time their prompt is run.

Do you think this will work?

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i write my own prompts to streamline processes and routines done daily, like writing books case studies, i pretty much try to detail the prompts specifically and not making it generic, like for case studies there are different types of case studies, so i create prompts for each case study type … by first understanding the framework of each case study, because you have to first understand what you are writing about … my aim is to expand this into various fields and industries like business, branding etc … i personally use the prompts for my work some i give out for free or sell if i feel its worth been sold … bottom line is i like solving problems and i don’t really love doing the same thing over and over again … so this process helps me to convert processes to prompts i can use over and over again, and rewrite them when need be

Hi,
I have a totally and different opinion.
I think AI. is not going to make you money.
You can sell anything on the Internet, but the point is in the end you need traffic.
AI by itself is just a tool to speed up processess.
If you want to make money on Fiverr just by offering a gig related to AI well, that won’t make you money.
You need a traffic method so people know you have a gig, then somebody will buy from you.
The same with selling T-shirts with AI images. Or anything you can imagine. Traffic is the word. Not AI.

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Do you think it would be hard to make money with ai in a more artistic field? Because you technically didnt make the art.The Ai did

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True… but not for the reason you would think. #1 its hard to make money as an artist, period for most artist… Thus the well disserved term Starving Artist. Yet right place right time could make all the difference in success.

In Hollywood there was an old saying I had. Its not how good you are, but who you know. Yet it is defiantly how good you are that keeps you successful and at the top. Good luck.

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Wow you have some nice insights!

Currently, our company is now speeding up all processes and reducing manpower through automations and AI. We are currently running a distribution and a manufacturing company that shoulders the brand as well and we are only 7 in our team.

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anybody have AI to predict the next cashflow or marketcrash ?

I saw a video about Elon Musk’s next investment field. Very inspiring! You can check out BrainstormGPT’s Twitter or IG for the video :star_struck: