AI is becoming an essential tool for businesses, especially for increasing productivity. But did you know you can also use AI to make money?

AI tools like ChatGPT and Midjourney are for more than just writing emails and generating funny images. They can also be used to make money. Many freelancers, small businesses, and entrepreneurs are already using AI to make thousands of dollars by implementing AI tools into their workflows.

Generative AI and machine learning were among the top most in-demand skills of 2024 on Upwork and it’s spreading fast into many different industries as well.

In a previous post, we showcased the most useful AI tools for improving your business. We also explained how you can use those tools to grow different aspects of your business.

In this post, we look at some of the ways and methods to use AI to make money and grow your business. Let’s dive in.

1. Copywriting and Content Creation

One of the best uses of AI is content creation. Generative AI tools excel at written content and there are many ways you can take advantage of them to make money and increase the revenue of your business.

Offer Freelance Writing Services

As a freelancer, you can create a content writing service using AI. You can provide blog posts, write resumes, cover letters, technical documents, and more with the help of AI tools like ChatGPT and Claude.

Many freelance marketplaces like Fiverr and Upwork already have freelancers who make huge profits by offering AI content writing services.

Edit Content Using AI

As a writer, you can use AI tools to edit, rewrite, and refine your content to further improve them. This way, you don’t have to rely on editors or feedback from clients to make your content better. As a freelancer, you can even offer it as a service.

Develop a Blog for Your Business

If you have a small business, you can now easily develop your blog with high-quality blog posts, guides, tutorials, and more without having to hire writers. Using AI tools, writing great articles is now effortless and they will even help optimize your content for SEO.

This is a great way to generate organic traffic to your business website, which will then lead to more sales and revenue.

Write White Papers

AI tools are also great at writing technical documents. Use them to write white papers to increase awareness of your business and build authority. Additionally, you can create technical manuals, FAQ pages, knowledge bases, and tutorials by training AI on your business data as well.

Write Copy for Websites and Products

Use AI tools to write better copy for your website descriptions and call to actions (CTA). Also, write descriptions for your product pages using AI and test them with your existing copy using A/B split testing. This will help you create better product pages and increase sales.

2. AI Consulting

Most small businesses are still not aware of how to properly utilize AI tools to improve their businesses. This is where AI consultants come in. They are experts in the subject of AI and offer consulting services to help businesses discover ways to integrate AI into their businesses.

(Shopify’s Shop app)

This includes API integration, which essentially allows business websites to take advantage of popular AI models, like OpenAI’s GPT models, to create more advanced apps, websites, services, and systems. For example, AI is often used to offer better product recommendations for customers on eCommerce websites.

AI consultants also offer services in educating businesses on AI ethics and compliance, helping businesses use the best practices for AI without getting into trouble.

3. AI Chatbot Creation

One of the most profitable businesses in the AI industry right now is AI chatbots. These help businesses automate many of their tasks and customer services as well as generate more leads.

As an AI chatbot creator, your job is to create and program custom chatbots to serve customers on behalf of businesses. For example, these can be live service bots you see on a website. Or a custom bot that automatically replies to customers on Facebook or WhatsApp.

Creating these AI chatbots is quite simple, thanks to platforms like ChatBot and LiveChatAI. All you have to do is write the messages and personalize them according to the business and its services.

4. Selling AI-Generated Art

Even though people were reluctant to accept AI art at first, they are now as normal as stock photos. In fact, many stock photo websites, including Shutterstock, now have categories dedicated to AI art. And they even accept submissions from creators.

If you’ve mastered the art of writing great prompts and generating high-quality AI art, you can now make good money by selling your art to these stock photo sites.

Wirestock is one of the best places you can use to sell your AI art but there are plenty of other stock photo sites you can use as well.

Businesses and agencies can also use AI art generators to create custom artwork, illustrations, icons, and photos for their websites, social media, and projects.

5. AI Photo Editing

Photoshop now has powerful AI tools that allow you to edit, generate, and enhance photos with just text prompts. They help you edit photos, fix damaged photos, create photo manipulations, design posters, and more without much graphic design knowledge.

Whether you’re a freelancer or have a design agency, AI photo editing will offer a great way to bring in more revenue for your business.

6. AI-Powered Web Design

Designing and developing websites is now easier than ever thanks to powerful AI tools. Most online website-building platforms now include AI-powered tools for building websites.

Hostinger’s AI website builder is a great example that shows what these tools are capable of. And it offers a great opportunity for freelancers to make money by helping businesses build websites, even without any coding knowledge.

AI platforms like Relume, CodeWP, and Framer are other great tools you can use to create more complex websites with the help of AI.

7. Social Media Marketing

When it comes to social media marketing, AI comes in handy in many different ways. Whether you want to generate a unique image for your promo post, create a custom voiceover for a quick video, or even plan entire ad campaigns, AI tools will make your workflow quite seamless.

Freelancers and social media marketing agencies can profit from integrating AI into their marketing process. And small businesses can also save money by using AI to run their social media marketing campaigns.

8. AI Translations

While you shouldn’t rely on AI tools to translate important documents like business contracts, there are ways small businesses can use AI translation tools to generate more revenue.

For example, you can use AI to write descriptions for your products in different languages and include them on your website to show to visitors based on their geographical location.

Or write multilingual captions for your social media posts as well as generate voiceovers for your marketing videos in different languages.

9. AI Data Mining

Data mining is one of the most effective strategies big corporations and companies use to beat their competitors and boost awareness for their brands. Small businesses often can’t afford such services, but thanks to AI tools you can now do data mining as well.

Claude and ChatGPT are great starting points for utilizing AI for data mining. You can also hire professionals to do the work for you.

If you’re a freelancer, this is an industry that’s worth pursuing as it will create a high-value and highly profitable skill that will be future-proof for a long time.

10. Building Custom AI Models

Many of the AI tools you see today are built using the same AI models developed by the tech giants. Meta’s Llama AI, OpenAI’s GPT, Google’s Vertex AI, and many other AI models allow you to build your own custom AI models.

Creating custom AI models is not as easy as signing up for a website. But they provide you with the foundation for creating more complex, unique, and convenient AI tools of your own. And that will create entirely new revenue streams for you in the future. Who knows, you might even be able to sell your AI tool for a few hundred million dollars.

Conclusion

These are just a few of the many different ways you can use AI to create new opportunities to expand your business and services and earn more money.

Remember that there’s more to AI than just ChatGPT. There are far more advanced and creative AI tools available that perform better at specific tasks.