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5 Innovative Business Ideas Using Artificial Intelligence

It’s happening. We’re at the beginning of an AI revolution.

By dramatically reducing the time and cost it takes to complete specific tasks, Artificial Intelligence promises to disrupt almost every industry on Earth. In fact, experts predict the AI market to grow to over $1.3 trillion by 2029. This article will teach you exactly how to take a slice of that pie.

Tools like ChatGPT and DALL-E 2 are democratizing access to AI technologies, and people are already making million-dollar companies using them. There’s no reason why you can’t create the next million-dollar company.

First, you’ll need an idea. Here are 5 innovative business ideas using AI technologies to get your creative juices flowing.

1. Make YouTube videos

Creating content that people love to watch requires high-quality human input and creativity, but AI tools can make you superhuman with freakish levels of productivity.

As with all content creation, the magic is in the niches. Let’s say we want to create a YouTube channel in the lucrative travel niche. Here’s how you can use AI tools to supercharge your growth (and income) on YouTube:

  • Superhuman brainstorming: One of the biggest struggles for creators is constantly thinking of fresh and engaging content ideas. ChatGPT can think of hundreds of content ideas for you in minutes. Here are 10 ideas from ChatGPT that we can use as a starting point for our travel YouTube channel:
  • Let AI write scripts for you: Planning, researching, structuring, and writing scripts for videos is extremely time intensive. With OpenAI and ChatGPT, you can create hundreds of scripts in one day. Let’s make our travel videos about day itineraries in different cities across the world. Here’s a script written by ChatGPT for a video called ‘A Day Itinerary For Exploring Rome’.

Within 24 hours, we could easily have a script written for every major tourist destination in the world.

Pro tip: You’ll notice the scripts are hardly Oscar contenders. For best results, see ChatGPT as your assistant. Use creativity and copywriting skills to take the scripts to another level. You could even use prompts like “re-write the script in the style of a time-traveler” to create unique and interesting scripts.

  • Have an AI-avatar present your videos: In addition to using stock footage of Rome, have an AI-avatar present your videos for a more personal touch. Using D-ID, all you have to do is upload your script and AI will generate a video of the script being presented by an avatar.

Using these AI tools, it’s easy to see how you can make hundreds of hours of content in one-hundredth of the time. The same approach could be used to make videos about tutoring, new technologies, or luxury cars. The only limitation is your imagination.

2. Create presentations for businesses and influencers

Speaking at conferences is an incredible way for individuals and companies to generate publicity and establish themselves as thought leaders in their industry. The only problem is, it takes a lot of time to find events, apply to be a speaker, and prepare the presentations.

That’s where you come in (with a little help from our good old friend, AI). Businesses and influencers are willing to pay good money for people to help them find speaking engagements and prepare presentations.

As an example, let’s say we want to provide our services to digital marketers that are looking to grow their personal brand and profiles:

  • Let AI create the presentation: Tome is an AI tool that will create a presentation for you in seconds. Prompting Tome to create a presentation on ‘How AI Is Revolutionizing The Marketing Industry’, it created an 8-slide presentation that discusses how AI can be used to automate, optimize campaigns and track customer behavior. You can sell this kind of content to ‘marketing gurus’ who are looking to build their personal brand by talking at conferences.

Pro tip: Use your expertise and knowledge to fine-tune the presentation. Consider this as your starting point, and do some research to add facts, figures, and case studies to the presentation.

  • Find the most important conferences using ChatGPT: Finding the most important conferences and events in a particular industry is time-consuming… until now. I asked ChatGPT to find the top 10 marketing conferences, together with the links to their speaker application pages. Businesses and social media influencers pay good money for people to find and arrange speaking engagements.

 

3. Narrate audiobooks, podcasts and videos

The global audiobook market size is expected to reach $19.7 billion by 2028. Some people will make a lot of money narrating those books, and you can now use AI to do it for you.

  • Create an AI clone of your voice: You can use Descript to create an exact clone of your voice by feeding the algorithm an hour’s worth of text narrated by you. Typically, narrators will charge over $100 for an hour of finished audio. With a clone of your voice, you can create hours of audio in minutes, which means you can heavily reduce your prices to attract new business and win jobs.

You can use websites such as ACX, Voices, Fiverr and Upwork to find narration jobs. I would recommend clearly stating that you will use AI to complete the job, and that is the reason you are able to provide the services in a short timeframe at cut-rate prices.  

Pro tip: Voice acting is an art. Voice actors use intonation, inflection, and various accents to bring a story to life. For that reason, AI-generated narration from Descript is not suitable for fiction book narration. Rather, it could be used for non-fiction audiobooks, podcasts, and videos on topics such as business, finance, technology, health, and self-help.

 

4. Create activity books (and sell them on Amazon)

Kindle Direct Publishing empowers authors to self-publish eBooks and paperback books for free. But if you haven’t been blessed with world-class writing abilities, fear not. There’s a growing market for activity books that contain interactive content such as games, puzzles, quizzes, and pictures to color. As you might have guessed, we can use AI to help us do some of the heavy lifting.

  • Crossword puzzle: Let’s say you wanted to create an activity book for people who want to learn more about World War 2. Simply ask ChatGPT to create 20 crossword puzzle clues and answers. You can then use a free crossword generator to create the crossword.
  • Word search books: If you want to create an activity book for car enthusiasts, you can use ChatGPT to generate hundreds of ideas for words to include. Simply use the following prompt: “generate a list of single words for a word search book related to cars”.

To create a successful activity book empire, you will need to balance quality with quantity. You’ll need to make sure each book is high quality to stand out from the crowd, while producing enough quantity to improve your chances of publishing a book that is a hit on Amazon. You can now use AI tools to help you maximize both.

5. Become a video editor

As more and more people create content for YouTube, Instagram and TikTok, the demand for video editors just keeps on growing. With a little help from AI, you can now create professional video edits with very little editing experience.

  • Remove the background from videos: With the ‘green screen’ tool on Runway, you can now remove the backgrounds from videos in seconds. People are charging around $30 on Fiverr to remove the background from a 30-second video. $30 for a few minutes of work doesn’t sound too bad to me.
  • Remove unwanted objects from videos: With the ‘Inpainting’ tool on Runway, you can very quickly remove any unwanted objects from videos. Video editors on Fiverr are charging around $50 to tidy up a 30-second clip. 

Some closing thoughts…

AI is a gamechanger for entrepreneurs. It helps us brainstorm, drastically reduces the time it takes to complete tasks, and gives us skills we never dreamed of attaining.

The ideas in this article are just scratching the surface of what is possible.

Take these ideas and combine them with your interests and expertise to revolutionize an industry you are passionate about.

Someone will use these tools and technologies to create million-dollar businesses. Why not you?

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