Top 11 Best Ways to Make Money with AI

Ivana Kotorchevikj

Written by Ivana Kotorchevikj AI for Business & Education

Linkedin Published 1 year ago / updated 1 year ago - 16 min read

Artificial Intelligence (AI) is changing the way we live, work, and do business. AI technology is transforming industries, creating new opportunities, and disrupting traditional business models.

As AI advances, it's becoming increasingly clear that there are many ways to make money with AI. The global AI market size has been projected to according to Fortune Business Insights.

Since GPT’s 3.0 public launch in November 2022, people have been increasingly exploring ways to use AI's power to earn extra profit and a steady income stream.

If you're looking to make money with AI, there are many ways to do it, whether working on your personal brand or for clients as a side hustle. Here are the top 11 best ways to make money with AI.

Content creation

One of the most popular ways to make money with AI is through content creation. AI-powered tools like ChatGPT can help you create high-quality content quickly and easily. By using natural language processing (NLP) and machine learning (ML) techniques, ChatGPT can generate unique and engaging content for blog posts, social media, and other marketing channels.

Before ChatGPT, human content creators were in charge of generating keyword ideas, coming up with topics, putting together a content plan, writing, editing, and updating content. But now, you can use ChatGPT and other AI-powered text generation tools for each stage in the content creation process with the result of producing high-quality content faster.

For example, you can ask ChatGPT to create an outline for an article:

Please create an outline for an article on the topic: How AI can enhance your content strategy.

You can use ChatGPT to help other businesses create content for their website, landing pages, blogs, social media channels, newsletters, ads, etc. ChatGPT can help you research, plan and produce content faster for your clients and make money.

Create Chatbots

Another way to make money with AI is by creating chatbots. Chatbots are computer programs that use AI to simulate conversations with human users. Many businesses now use chatbots to automate customer service, sales, and marketing tasks.

This is where you can jump in and use easy-to-use AI tools for building chatbots like ChatGPT, ManyChat, and Chatfuel to create chatbots for businesses that need them. Before going along with this idea of making money with AI, you need at least some coding experience or at least be willing to learn basic code. Sure, ChatGPT or other tools can write the code for the chatbot based on clear prompts, but you need to be able to set up the software environment and get the necessary technology.

Nevertheless, after you've set up all the needed tech stack, you can request ChatGPT to generate code for a chatbot specifying details of the website, the products you sell, and your target audience:

Please create a code for a chatbot for a website selling homemade organic cosmetics, selling products to women 20-30 years old, who prefer to use organic cosmetics and not the mainstream products in supermarkets and drug stores.

After providing the template chatbot code, ChatGPT specifies that it's a basic example, and you may need to modify it according to your specific requirements.

Create web design and logos

Besides writing text and code, AI can also be used to create stunning visual elements such as images, logos, and even whole web designs. There is a plethora of free AI image generators you can use to create unique images and designs and earn money from them, such as DALL-E 2, Jasper Art AI, and WOMBO Dream.

Everyone’s favorite language model chatbot ChatGPT doesn’t have the ability to produce images. However, Microsoft got ahead of the game and created Visual ChatGPT. This model combines ChatGPT and VFMs, including Transformers, ControlNet, and Stable Diffusion, and acts as a bridge between the models, allowing users to input text or images and get an image as a response. The model is still in a demo version, but is expected to lower the learning curve for text-to-image models.

You can try out the demo version of the Visual ChatGPT platform, for which you need an OpenAI API key, or follow the instructions on Microsoft’s GitHub page.

Another powerful and super-efficient model you can use to generate amazing visuals of any kind is the AI program Midjourney, which generates images based on natural language prompts. The platform is currently in open beta, and you can use it to create images and designs on Midjourney’s Discord server.

The platform offers a free version and three different pricing plans based on GPU time and the number of maximum jobs you can have in the queue. Whatever plan you decide on, free or paying, Midjourney will completely change your idea of whatever you think of AI creativity. You can create everything from images, landing pages, and whole web designs. You can even upload your images to help Midjourney provide the desired result.

If you are looking for more user-friendly, AI-based design platforms, to create stunning web designs and logos. Tools like Wix Logo Maker and Tailor Brands use AI algorithms to generate custom logos and branding materials based on your preferences. Additionally, AI-powered design platforms like Canva and Figma provide powerful tools for creating beautiful and professional-looking websites and marketing materials.

🤖 Explore also how to write a cover letter with ChatGPT.

Do affiliate marketing and display ads

AI can also be used to boost your affiliate marketing efforts. Affiliate marketing is a popular way to generate money by promoting other people's products and earning a commission for each sale.

You can use ChatGPT to find profitable affiliate opportunities. Simply head over to ChatGPT and ask it to give you a list of affiliate products you can promote on your blog on a certain topic.

Please provide a list of affiliate marketing products I can use on my website on fitness and healthy eating.

Based on the ideas ChatGPT gives you, you can pick which one(s) works best for your niche to create a blog post around it. Then, you can use affiliate websites like Affylitics, PartnerStack, or Impact and find affiliate programs to sign up to.

Apart from creating a blog post and inserting an affiliate link, you can also ask ChatGPT to give you ideas about creating a lead magnet you can promote on social media with a link to your Click Bank account.

If affiliate marketing seems not so profitable for you or you have content that can’t be used for affiliates, you can also put display ads on your website, for which you get paid by impressions. Sign up for some AI-powered media find platforms such as Ezoic, AdThrive, and Google Adsense.

Sell prompts for generating AI art

One rather unique and creative way of generating income with AI is by selling prompts. If you have a talent for discovering prompts and creating AI-generated art, you can create and sell your prompts, while inspiring others to create their own AI art.

Prompts are essentially instructions for AI models to generate text or unique pieces of artwork - that’s how you communicate with them to get results. However, coming up with the right prompts is not easy.

One such platform that serves as a marketplace for prompts AI is PromptBase. It is a marketplace for DALL·E, Midjourney, ChatGPT, and Stable Diffusion. The marketplace offers options for selling and buying prompts. When you sell a prompt on PromptBase, you get 80% of the money. The prices for prompts go from $1.99 onwards.

You can sell prompts in many categories and an endless choice of topics. Just create your account and start selling your prompts.

Create video scripts and videos

Images and text are not the only formats AI can help you produce to generate passive income.

AI can also be used to create video scripts and videos. If you have a YouTube channel, you can use it to distribute your videos and make money through product promotion, ads, or affiliate marketing.

If you don’t have a YouTube channel, you must first choose your niche and create your channel. Then ask ChatGPT to help you generate video ideas, scripts, headlines, and product descriptions. You can write a prompt like:

Give me a list of 10 video ideas about gaming.

When ChatGPT lists the video ideas, you can narrow them down to the one that suits you best and again ask the chat to create a script for the video idea. When you have the recording, you can create the final video product.

However, what if you don’t want to show your face on camera? That doesn’t mean you still can’t make money out of videos. You can ask ChatGPT to provide you with a list of video ideas without showing your face.

If you are completely new to videos, you can use AI-powered video creation platforms like Synthesia to create engaging and visually stunning videos.

Write code

If you have some programming experience, you can also make money by freelance software development for businesses. ChatGPT can help you write code faster and more efficiently, taking the load off programmers of repetitive coding tasks.

AI can be used to automate repetitive tasks such as testing, debugging, and code refactoring, which can help developers save time and increase efficiency.

Apart from this, AI chatbots like ChatPGT can be used to generate code automatically, based on high-level specifications or natural language descriptions. This can help developers quickly create prototypes or generate large amounts of code for complex projects.

Here is an example of a prompt you can give ChatGPT:

Act as a Python developer. Write code to read and print duplicate records from the provided CSV file.

More importantly, CHatGPT works with natural language processing (NLP) and can understand natural language descriptions of software requirements, which can help streamline the software development process and reduce errors.

Do SEO or become an SEO consultant

AI can also be used to improve search engine optimization (SEO) efforts. Regardless if you have beginner or advanced SEO knowledge, there are numerous AI-powered tools that can help you analyze search engine results and optimize your website and content for better rankings.

Apart from the market-leading tools like SemRush and Ahrefs, you might be surprised to hear that ChatGPT can also be useful for SEO. Although it doesn’t work as straightforwardly as other SEO tools connected to the internet, you can use ChatGPT in different ways to help with your SEO strategy.

You can use ChatGPT for keyword research to find related or LSI keywords a user would search for on a certain topic.

You might write a prompt along the lines of:

Act as the person searching for "how to do SEO with AI." What other keywords would you use to search on this topic?

Another way ChatGPT can help with SEO is to ask it to suggest a list of click-worthy titles on certain topics containing a specific keyword. ChatGPT is also useful for creating blog post outlines, proofreading, writing meta descriptions, and social media posts based on an article.

Some users have tried creating whole blog posts with ChatGPT by providing more contextual information to ChatPGT, e.g.:

You are a writer at a renowned website on AI. Create a blog post on the topic ‘How AI will change the future of work.'

Nevertheless, you’ll notice the article ChatGPT creates is a bit generic and only scratches the surface of the topics. So, you’d be best advised to take the ChatGPT-generated article as a starting point for a more in-depth piece.

Create ads

Another efficient way you can use AI to earn some extra income is by creating ads.

ChatGPT can also be used to create effective advertising campaigns for Google, Facebook, TikTok, Instagram, LinkedIn, or other platforms.

You only need to provide the product description, list the product features you’d like to emphasize, the tone with which you want the ad copy to be written, and the platform to which you want to place the ad. You can further ask ChatGPT to refine the copy until you get the result you are satisfied with.

Act as an experienced copywriter who has worked with small businesses helping them increase their Instagram following and purchases. Write an Instagram ad copy for a company selling handmade tote bags.

Additionally, if you already have several ad copy drafts, you can place them in ChatGPT and ask it to make them more persuading or catchy.

Make reports

Besides creative work, AI is also amazing at analytical tasks. You can use ChatGPT to write SQL queries to build reports for clients. For example, if a client wants you to make a report on their most successful product in the past quarter or year, you can use ChatGPT to generate the necessary SQL code.

You only need to add the columns and tables of the database to ChatGPT and request it to provide you with the SQL query for the most well-performing product in the defined time period. ChatGPT will provide the SQL code you can only copy and paste into the program.

Apart from SQL, you can use ChatGPT to create custom Excel or Google Sheets formulas, which can be quite complex. With ChatGPT, you only need to provide the information and the data, and it will respond with the right formula.

Create tutorials and educational videos

Finally, the last way to make money with ChatGPT on our list is to create educational videos and tutorials. You can leverage the same methods for generating video ideas with ChatGPT we’ve discussed above. However, this is more focused on educating people on the possibilities and opportunities with AI and ChatGPT.

As AI grows so fast, so will the need for education about it. This relates to online courses, YouTube tutorials, and how-to video guides. Keep in mind that to make this kind of educational content, you first must have explored a subject in depth to give insight into it.

However, the topic of your video doesn’t have to be a highly theoretical one. You can talk about simple and practical use cases you’ve been through yourself and now want to educate your followers on. You can use YouTube and your website to gain traffic and monetize it with ads, product promotions, and affiliate marketing.

Conclusion

In conclusion, there are many exciting and innovative ways to make money with AI. Whether you're interested in content creation, chatbots, web design, affiliate marketing, AI-generated art, video creation, coding, SEO, advertising, making reports, or creating educational content, there are numerous opportunities to leverage AI and create new streams of income.

By using AI tools like ChatGPT and staying up to date on the latest AI trends and developments, you can tap into the vast potential of AI and unlock new opportunities for financial success.