3 Proven Ways to Make Money With AI in 2023

SF Games
July 22, 2023
3 Proven Ways to Make Money With AI in 2023


Artificial intelligence (AI) is rapidly changing the world, and it's also creating new opportunities to make money. In this article, we'll explore three proven ways to make money with AI in 2023.

1. Provide AI Services

One of the most direct ways to make money with AI is to provide AI-powered services to businesses. Many companies are looking for help implementing AI technology, but they don't have the in-house skills to develop the solutions themselves.

As an AI specialist, you can offer services like:

  • AI consulting: Assess client needs and provide strategic advice on how to apply AI tools and technologies.
  • AI development: Build custom AI tools and products for clients using leading AI frameworks like TensorFlow and PyTorch.
  • AI-enhanced apps: Incorporate AI features like computer vision, NLP, voice recognition, etc into client apps and software.
  • AI training data: Collect, clean, label and annotate datasets to train AI algorithms.

The demand for skilled AI developers, consultants, data annotators and project managers is growing rapidly. With some AI skills and experience under your belt, you can start providing these sought-after services to businesses looking to leverage AI.

2. Build and Sell AI Products

Instead of providing AI services, you can also focus on building your own AI tools and platforms then selling or licensing them. Some ideas include:

  • SaaS products with AI baked in: Think AI-powered chatbots, recommendation engines, predictive analytics etc.
  • AI APIs and SDKs: Create reusable AI modules like speech recognition, object detection etc and sell access.
  • AI models: Train customized deep learning models for tasks like image classification, text generation etc.
  • AI apps: Develop mobile or web apps powered by AI and aimed at consumers.

With the right tech skills, you can build valuable AI products tailored to different industries and markets. Even selling access to AI algorithms, models and datasets can be lucrative.

3. Invest in AI Stocks

If you don't want to build AI tools from scratch, another option is to invest in public companies focused on AI technology. Some top stocks to consider include:

  • NVIDIA (NVDA): Leading provider of AI/ML chips and hardware.
  • Amazon (AMZN): Major cloud provider with AI offerings.
  • Google (GOOGL): Search giant investing heavily in AI research.
  • Microsoft (MSFT): Major player in cloud computing and AI software.

As AI adoption grows, stocks focused on AI tech have significant growth potential. You can profit by buying shares in the right companies or AI-focused ETFs.

Conclusion

AI is a rapidly growing field with endless possibilities. If you're looking for ways to make money with AI in 2023, the three strategies outlined above are a great place to start.