Artificial intelligence (AI) is poised to revolutionize 21st century life, offering today's entrepreneurs the opportunity to capitalize on new markets during this time of rapid transformation. These eight AI business ideas can not only help entrepreneurs increase revenue, but with any luck, they can also gain a long-term competitive advantage by establishing an early presence in this new business environment.
Why should you consider starting an AI business?
With the global artificial intelligence market predicted to grow at a compound annual growth rate (CAGR) of more than 18% over the next seven years, reaching a total market value of more than $739 billion by 2030, the business world is taking notice.
According to a 2023 McKinsey & Company survey, 55% of companies are already using AI technology to support their business processes, and more than two-thirds plan to increase their investment in AI over the next three years.
Entrepreneurs can capitalize on this trend by launching businesses that capitalize on the growth of the AI market. As tools continue to evolve and enterprise adoption of AI technologies accelerates, enterprises and service providers that leverage ideas from AI startups will be in a better position to outperform their competitors.
8 AI business ideas
There are many ways to make money with AI-based business ideas. Jump-start your brainstorming process with these 8 profitable AI business ideas.
Becoming an AI Content Marketer
Content marketing is the practice of creating and publishing content that provides value to your target audience, attracts new customers, and builds trust with your customer base. You can start your content marketing business with an AI-based writing tool that uses natural language processing, machine learning, and predictive analytics to generate human-like language in response to user input.
AI content marketers help sales and marketing teams develop content marketing strategies, design prompts, and use AI-powered tools to generate content designed to meet the needs of specific target audiences. They can also help businesses publish content, monitor results, and adjust their strategies based on performance.
Becoming an AI content editor
AI-generated content isn't always perfect, which means there's a growing demand for AI content editors who can proofread and fact-check content generated by AI-powered systems. While AI writing tools allow businesses to specify a voice and tone, AI-generated content is more generic than human-generated content. The difference is especially noticeable when a company has a unique and well-defined brand voice. If you have a talent for creating voice-driven content, you can expand or modify AI-generated text to convey your brand's unique personality.
Start an AI personal assistant business
Life is full of mundane tasks. Starting an AI personal assistant business allows companies and individuals to delegate some of these tasks to you. However, instead of doing it all yourself, you can leverage AI-powered software to efficiently complete tasks like paying bills, scheduling appointments, and handling projects that require manual data entry, like issuing invoices and creating expense reports.
As an AI assistant business owner, you are responsible for selecting the right AI solution, configuring it to complete the desired task, and monitoring its quality and accuracy.
Becoming an AI Graphic Designer
AI image generators can create branded images and other visual assets for businesses, allowing even entrepreneurs with little graphic design experience to help create visual content for their companies. As an AI graphic designer, you can help brands develop a unique visual identity and determine the role of imagery in their larger marketing strategy.
For example, an AI-powered logo maker can be used to create a unique logo and accompanying brand guidelines. It can then help companies develop parameters for image type, tone, and usage. Once a strategy is in place, AI apps can be used to create images and validate them for quality and consistency.
AI video generation tools also allow visual brand strategists to branch out into video content production without requiring an entirely new set of technical skills. If you're adept at storytelling and evaluating brand visuals, consider using AI tools to create impactful video content for your business.
Become an AI SEO Specialist
Search Engine Optimization (SEO) refines your site's content and structure to generate more quality traffic and rank higher in search results. You can start an AI business that provides SEO services to businesses using AI-powered SEO tools. These tools can research keywords, create keyword-optimized content, monitor backlinks, track your site's search engine performance, evaluate competitor performance, monitor page speed, and identify dead and broken links. They can also analyze data from search engines to identify trending topics and generate content ideas.
These tools allow small businesses to optimize on-page SEO, develop SEO content, and improve their technical SEO at low cost.
Become an AI Social Media Manager
AI-powered solutions can create, schedule, and publish social media posts on their own, but that doesn't mean businesses don't need to involve a human social media expert. An AI social media manager can help brands develop social media strategies, configure AI tools, and oversee AI social media tools, just as a marketing manager would oversee a human employee. For example, they can review scheduled content for accuracy and marketing value, and monitor social feeds to ensure publishing and viewing was successful.
Launching an AI Marketing Agency
If you are a seasoned marketing strategist with knowledge of various marketing tactics, you can launch a full-service marketing agency using AI tools. Cutting-edge AI technology can support processes such as content creation, graphic design, and video creation, allowing you to offer a wide range of services without having to master multiple technical skills. It can also increase the efficiency of research-based activities such as market research and target audience identification.
AI solutions allow agency owners to adopt a scalable business model, allowing them to develop and implement robust marketing strategies with a relatively small staff, and then add more employees as their business grows.
Become an AI implementation consultant
Leveraging AI technology can improve business efficiency and give business owners a key competitive advantage, but the AI industry is evolving so quickly that it can be difficult for business owners to keep up.
If you are passionate about AI technology, you can start an AI implementation consulting business to help companies identify and adopt innovative solutions to gain an edge in the competitive business environment.
Here are some types of tools to consider:
- AI logistics tool. AI logistics tools help businesses manage and optimize their fulfillment processes. For example, companies in the retail industry can use AI logistics tools to monitor inventory levels, analyze supply chains, and streamline shipping processes to reduce fuel and transportation costs.
- AI-powered chatbots. AI-powered chatbots mimic natural human conversation. They can respond to basic customer requests, provide information, and support product discovery. Many businesses are using chatbots to support their customer service processes.
- AI-powered content generation tool. Content generation tools allow you to create written, graphic, and video content to extend the capabilities of your sales and marketing teams.
- AI-enabled HR tools. AI-enabled HR systems can help support recruiting, monitor employee engagement and performance, and automate HR-related data management tasks. For example, cloud-based time attendance apps make it easy to track employee attendance and monitor working hours. Training software can also use AI algorithms to create personalized learning paths, making it easy for HR managers to deliver customized employee development.
- AI project management tool. AI project management tools help you monitor progress, generate reports, schedule meetings, analyze and optimize resource allocation, and some tools even come with built-in team collaboration software, making it easier for your team to work together on projects.
Frequently Asked Questions about AI Business Ideas
How to start an AI business?
To start a successful business using AI tools, follow these steps:
1. Identify your target audience.
2. Conduct market research.
3. Develop a unique value proposition.
4. Market your business.
How do AI businesses make money?
A great AI business idea can help you make money by charging individuals and businesses for a variety of products and services, from consulting to content editing to graphic design.
How much does it cost to launch an AI startup?
The cost of launching an AI startup varies by industry and business model. Generally, costs are higher for business types that require significant investment in research, development, and manufacturing.
