The future is here. Artificial Intelligence is no longer an alien concept of the future. AI is steadily penetrating one industry after the other and is profoundly innovating business processes and opening up unique opportunities to make money. Yes, AI is a disruptive technology in that it profoundly changes, by quantum leaps, any aspect of whatever industry it touches. Yes it does eliminate repetitive jobs because of its highly efficient automation abilities.
However, it brings to the table three outstanding innovations with values that far exceed the jobs it may eliminate: First, it creates far more jobs than it eliminates, and those jobs are generally very high-paying. Second, it enables businesses to boost efficiency so much that profit margins and ROI and greatly increased. Thirdly, it opens up great business opportunities that can be very lucrative for those who are business minded. Here are some of the opportunities:
1. Market artificial intelligence software products
A number of companies are developing AI-powered software applications (Apps) to solve various business problems, especially in digital marketing. Since these Apps are usually marketed by subscription, you may not be able to buy wholesale and retail for profit. However, some of the developers offer affiliate marketing programs with very generous commission rates.
The one company that I can confidently recommend in this space is OnPassive; a high tech company offering a platform of multiple AI-powered business software applications. They have a very lucrative affiliate program that allows you to market multiple products as soon as they are launched.
To register for the affiliate program, GO HERE
To preview the products, GO HERE
2. Use AI predictive software to trade financial securities and commodities
Predicting future price actions for financial securities such as stocks, cryptos, forex and commodities, is one of the most challenging tasks in computational sciences. But AI has been bringing game-changing innovations into this space. Trading of these financial securities and commodities generate price charts with arrays of complex data which can be best analyzed by AI to discern patterns of predictive price movements. AI models, combined with Machine Learning (ML) technologies, can be trained to learn from huge amounts of historical price data and other information that affects future price actions. The results of such analysis are then used to predict future price trends for traders and investors.
Vantage point is the leader in this field and their can predict up to 2 days ahead with 87% accuracy (vantagepointsoftware.com). There are a number of smaller companies that have emerged in recent years, and you can search for them with the term “AI trading software.” Try them for free to ascertain their accuracy before you purchase.
3. Offer AI-Powered Speech Recognition Services
Speech Recognition is one of the most sought-after features of AI. The ability to recognize the spoken word and to be able to convert it into text or other actions, has proven to be of great business value for many companies. You can capitalize on this by subscribing or purchasing these AI-powered software technologies to offer intelligent audio transcription services to businesses or even individuals.
You can also offer a text to speech service. For this, I recommend one of the best text-to-speech applications out there – Speechelo. Speechelo is a powerful text to speech software technology that instantly creates professional-quality voiceovers for you. With just 3 clicks, you can instantly transform any text into a 100% human-sounding voiceover. Get more information here:
For speech-to-text services, check out any of the following platforms, using their free-trial offers to test-drive them before you subscribe. Here is a list of them: Nuance Dragon Anywhere, Nuance Dragon Professional, Otter, Speechmatics, Amazon Transcribe, Microsoft Azure Speech to Text and IBM Watson Speech to Text.
4. Offer AI-Powered Video Analytic Services
AI-powered video analytics software is a technology that I believe has more business applications than are currently recognized. It can enable you start up a multi-million-dollar business. First, an AI model of the video application is developed. Second, using ML technologies, the AI model is trained to recognize objects, scenes and various attributes in a video feed or footage.
(i). If video feeds from surveillance camaras were used to train the AI model, the resulting application is then used for AI-powered video analytics used for intelligent and efficient security surveillance. You can then use the app to offer intelligent video security surveillance services for businesses and even homes.
(ii). Similarly, appropriate video sources can be used to train AI models to produce applications that can offer the following services:
- Business intelligence
- Face recognition,
- License plate recognition
- Traffic monitoring
- Crowd counting
- Etc., etc….
In any of these cases, you may use software developer services to create these applications for yourself, or you can subscribe to services offered by video analytic platforms. These include, Accenture, BriefCam, XenonStack, etc
5. Use Intelligent Chatbots to Enhance Customer Experience and Generate More Lead
Consumers like to have a sense of connection with technology. We once had face-to-face assistance for any consumer complaints, which eventually got replaced with automated generic chatbots, which are now being replaced with AI chatbots. AI chatbots can be more efficient than human customer agents in that it can answer most ambiguous questions with greater accuracy and takes less time.
AI Chatbots can give personalized answers rather than automated generic responses like command-based chatbots. Also, data generated by these chatbots is usually analyzed for lead generation and other marketing purposes.
If you own a business that requires a lot of customer support, you can generate substantial income indirectly by replacing human customer agents with AI Chatbots. The savings, which increases your net income, can add up to millions of dollars depending on the size of your customer service team. You can also increase sales substantially as you generate more sales.
6. Create And Market Artificial Intelligence Educational Content
Since AI and ML jobs will soon become one of the largest in the future, it makes a great business sense to start developing and teaching practical online AI and ML courses. If you do not already have adequate training in AI and ML, it might be a great investment to take a few courses online to gain some expertise. Checkout the best learning platforms such as o-Cademy, Udemy and Linked in.
Once you are comfortable with AI and ML, you can start developing course material from the basic principles for the general public, to intermediate and advanced courses for those who want to find jobs in AI field. People who are already working in the field would also want to advance their knowledge and expertise in the field. I recommend that you host your courses with o-Cademy or Udemy.
7. Develop and Market AI Applications
If you have software development skills or have some capital to hire one, you can develop and market AI-driven software applications. To do this successfully, keep in mind these key steps of the product development cycle:
- Identify a significant business problem that many businesses are having and will gladly welcome a solution.
- Or Identify a popular traditional software that is providing substantial business solutions but is suboptimal in performance. Then develop an AI equivalence to compete against it.
- Mark out the key features and functions of the software.
- After checking out key features of existing similar solutions integrate proprietary features to your software to give it competitive advantage.
- Make sure to develop a simple friendly user interface
- All along the development journey, take steps to ensure that the final product is cost-effective.
