With AI taking off, 2024 presents huge opportunities to make money by providing AI services to businesses and individuals. This complete guide shows you the ropes.
Making Money With AI
Artificial intelligence has been transforming industries across the board, from transportation to healthcare and beyond. As AI capabilities continue advancing rapidly, 2024 is shaping up to be a breakout year for AI adoption.
This exponential growth also presents lucrative opportunities for regular folks like you and me to get in early and make money with AI by offering much-needed AI services to businesses and consumers.
In this complete guide, I’ll walk you through the top ways you can leverage AI to create income streams as soon as this year, without needing advanced technical skills.
Let’s start by understanding why 2024 is such a pivotal time for making money with AI services.
Why 2024 is the Year for AI Income Streams
Here are 3 key reasons why 2024 presents a perfect storm of AI business opportunities:
- Surging business demand for AI capabilities: From chatbots to computer vision, companies are scrambling to implement AI or they risk falling behind the competition. This trend will only accelerate. As a AI service provider, you can capitalize on this demand.
- Maturing AI developer platforms: Services like Anthropic, OpenAI, Amazon Rekognition, Google Cloud Vision, and more allow anyone to tap into advanced AI without coding. These no-code AI platforms level the playing field.
- Consumer openness to AI: Consumers are getting increasingly comfortable using AI, whether it’s chatbots or AI-generated content. Early adopters are primed for solutions.
In a nutshell, both businesses and consumers will urgently need AI capabilities in 2024. By positioning yourself as an AI expert service provider, you can take advantage of this demand and create income streams.
AI Business Opportunities Right Now
But what exactly are real ways to make money with AI services right now and in 2024?
Here are 5 of the most promising AI business models that allow you to monetize AI capabilities without needing to code:
- AI Photo Editing Services
- AI for Clothing and Product Photos
- AI Video Transcribing and Captioning
- AI Content Creation
- AI Content Repurposing
I’ll explore each of these opportunities in detail later in this guide.
And the beauty is you can offer these services right now since the technology already exists, without needing to wait for future advancements.
Required Mindsets and Skills
Before diving into the specific business models, here are a few prerequisites for successfully building income streams with AI:
- Growth mindset: Be willing to learn new skills outside your comfort zone. AI technology changes rapidly so you must constantly educate yourself.
- Business fundamentals: Have a basic grasp of business concepts like identifying customer pain points, marketing, finances, productization and more.
- AI platforms: Get familiar with AI software platforms for the specific services you want to offer. We’ll cover the top tools for each model.
- Creativity: Exercise creativity in applying AI capabilities to solve real business and consumer problems. Combine AI with your own unique talents.
That covers the essentials. Now let’s get into the details of each AI business model!
5 Ways to Make Money With AI
1. AI Photo Editing Services
Offering AI-powered photo editing services is one of the easiest entry points into making money with AI in 2024.
The need for professional photo editing spans countless industries:
- Photographers (editing client photos)
- Real estate (enhancing property photos)
- Ecommerce sites (optimizing product photos)
- Architects (rendering building designs)
- Advertising agencies (campaign visuals)
- Social media influencers (Instagram perfection)
And many more!
Virtually every business needs eye-catching visuals. But professional photo shoots and manual editing are extremely time consuming and expensive.
This is where your AI photo editing services come in!
AI photo software provides beginner-friendly shortcuts to complex edits like:
- One click optimization presets – Auto adjust brightness, contrast, hue, saturation, etc.
- Sky replacement – Swap out lackluster skies with stunning tempestuous ones
- Object removal – Effortlessly delete unwanted elements from photos
- Portrait enhancement – Whiten teeth, smooth skin, brighten eyes and more
- Colorizing black & white photos – Bring new life to nostalgic monochrome photos
Leading AI photo editing tools like Luminar AI and Adobe Lightroom make these powerful capabilities accessible to anyone without professional editing expertise.
You can easily offer services like:
- Photo restoration – Repair damaged, faded photos
- Portrait touch ups
- Product photo optimization – Clean backgrounds, appealing angles
- Real estate photo enhancement – Blue skies, lush landscapes
- Architectural renderings
- Print/billboard ad retouching
And make good money without deep technical skills.
Getting Started with AI Photo Editing
To launch an AI photo editing service, you need:
- Photo editing software – Luminar AI ($79 one time), Photoshop (Subscription), GIMP (Free)
- Graphic tablet (~$100) – Makes editing more fluid than just using a mouse
- Photo samples portfolio – Showcase your before/after AI editing skills
That’s enough to get started and land initial clients through freelance marketplaces or direct local outreach.
As you grow your business, consider investing in photography lighting gear for shooting product images that maximize results for clients. But you can begin completely remotely.
The key is strategically combining user-friendly AI tools with your own photographic eye and artistic talents. This creates a unique value proposition that demands premium rates.
Let your creativity run wild with AI to help businesses make powerful first impressions!
2. AI for Clothing and Product Photos
Ecommerce has exploded. Shopify alone powers over 1 million online stores.
But product photography remains a major headache for merchants. Professional photoshoots are incredibly expensive and time-consuming to organize.
This is where AI virtual modeling apps like Capcut come in. With AI, you can showcase clothing, jewelry, accessories and lifestyle products on lifelike computer generated models.
No more scheduling blocks of time with human models! No more paying for studios, photographers, MUA’s and more.
These AI model images allow you to display designs in a variety of contexts. For example:
- Apparel on models wearing the items
- Floating on white backgrounds
- Lifestyle scenes – restaurant, bedroom, office etc
- On video for social media ads
As an entrepreneur, you can offer scalable services like:
- Apparel and product mockups – Place product images on AI models
- Custom model generation – Match client’s target customer demographics
- Photo background removal/replacement
- Multi-angle model poses – front, back, sides, flat
- Video mockups for social media
The key advantage is significantly lowering costs for ecommerce merchants while giving them more flexibility than live photoshoots.
And you get to leverage AI to build a scalable product photography business.
Getting Started With AI Product Photos
The basic tools you need are:
- Image editing software – CapCut (free), Photoshop ($10/month)
- Virtual model libraries – ReadyPlayerMe (free), Mixamo (free)
- Sample product images – Showcase variety of mockups
Your expertise in art direction, image composition, lighting, and merchandising all still come into play.
But AI removes the drudgery of scheduling and paying human models. It’s easier than ever to deliver professional lifestyle product images scaled to any ecommerce brand’s needs.
As you grow, invest in photography lighting gear to take product raw images that maximize quality. But that’s not essential to get started.
Unleash your inner creative merchandising talents with AI models today!
3. AI Video Transcribing and Captioning
Video engagement has exploded across social media and streaming platforms. Just look at TikTok and YouTube Shorts.
But maximizing viewership and ad revenue hinges on one key factor: captions.
YouTube themselves report that 80% of viewers watch videos with the sound OFF.
Plus captions meet legal accessibility requirements.
The problem? Transcribing and captioning video content takes forever. Just one hour of video can require 10+ hours to accurately caption!
AI transcription tools like Descript, Otter.ai, Simon Says and Trint completely transform this process.
They use speech recognition algorithms to analyze video and audio files and automatically generate text transcripts timed to dialogues.
This easily saves 80-90% of human transcription time while achieving 85%+ accuracy.
You simply play an editor role – clean up and format transcripts for readability:
- Fix inevitable errors like homophones
- Add speaker names
- Punctuate runs of text
- Split content for maximum clarity
The business model is straight-forward – offer captioning/transcription services to clients with video libraries across:
- Media companies
- Online course creators
- Corporations
- Governments
- Academic researchers
- Worship groups
- And more
This breathes new life into stale pre-recorded video assets. It expands reach and accessibility at a fraction of manual effort.
Getting Started With AI Transcription
The starter toolkit includes:
- Transcription software – Descript, Otter.ai, Simon Says
- Video player – VLC media player
- Text editor – Google Docs, Microsoft Word
Plus samples showing your work.
Time savings versus manual effort is your primary competitive advantage here.
AI transcription services empower anyone to profitably offer captioning services at scale. Unlock hidden ROI in video content without endless labor!
4. AI Content Creation
AI content creation tools are exploding thanks to chat-based interfaces like Anthropic’s Claude, You.com, and Jasper.
These systems generate entire articles, emails, social posts, landing pages, and ads after prompting with a few sentences.
While alarmist headlines abound on AI replacing writers, the reality is AI augments human creativity rather than replaces it.
As a freelance writer, you need to expand your services beyond just writing content to providing AI-assisted copywriting.
Your job becomes:
- Curating and refining AI-generated raw material
- Structuring it for maximum impact
- Ensuring tone, style and messaging align to brand guidelines
Rather than manual typing, you apply strategy and human judgment. This becomes a force multiplier, providing 10x leverage versus writing from scratch.
AI is particularly powerful for initial idea generation and rough drafts. You then work it into finely tuned final copy.
As an AI copywriter, you can offer high-value services like:
- SEO blog posts
- Product descriptions
- Website content
- Press releases
- Social media posts
- Video scripts
- Sales letters
- Email sequences
- Advertising copy
The applications are endless. But focusing on a niche helps establish expertise that earns premium rates.
For example, become the go-to expert for long-form SEO content and AI can help rapidly research and outline posts.
Getting Started With AI Content Creation
You need:
- AI content generator access – Chat Gpt, Claude waitlist, Jasper beta access
- Writing samples – Showcasing client verticals you service
- SEO and marketing resources – Keyword planners, brand style guides
- Human creativity – Your unique talents make AI content shine!
AI content creation is projected to grow 1000%+ in 2023. Now is the time to add it to your freelance writing services.
Combining AI raw material with human refinement allows creating 10x more valuable content in far less time. This efficiency commands premium pricing in any client vertical.
Add AI to your writing toolkit and craft copy that truly resonates!
5. AI Content Repurposing
In today’s multi-platform world, a “write once, publish everywhere” approach simply doesn’t cut it anymore.
Businesses need to customize messaging across blogs, social posts, videos, ads, emails, and more to maximize impact.
But constantly repackaging the same core content is extremely inefficient without AI automation.
Tools like Jasper, Opusclip, and Wibbitz enable powerful content repurposing use cases like:
- Long-form blogs > social media snippets
- Youtube videos > multiple Instagram/TikTok clips
- Podcasts > textual summaries
- Research papers > interactive dashboards
- Email newsletters > video explainers
This saves huge amounts of manual effort recrafting narratives across formats.
As a freelancer, offer high-ROI AI content repurposing services to breathe new life into existing assets.
Strategically reuse content IP without burning out internal marketing teams or paying external agencies.
Specialized Content Repurposing Offerings
Some examples of specialized services include:
- Long-form blog split into 10 LinkedIn posts
- YouTube videos clipped into TikTok segments
- Video lowering thumbnails with catchy captions
- Podcast transcriptions into shareable quotes
- Email promo rewritten as Facebook Ad
- Infographic versions of research papers
Repackage the story for greater visibility as attention spans keep shrinking!
Getting Started With Content Repurposing
You need:
- Content repurposing software like Chat Gpt, Jasper, Opusclip
- Design/publishing programs like Canva, Lightroom
- Writing samples showcasing reformats
- Business positioning as a conversion rate optimization expert
Leverage automation to reformat clients’ vast content libraries into irresistible snacks for modern consumption.
Take their great hidden content and make it unmissable rather than starting content creation from scratch. Help tell their story louder!
Getting Started With Your AI Business
Now you know the 5 most lucrative AI business models for 2024. Let’s cover a few key steps to launching your own AI services business.
Necessary Tools And Costs
The exact tools and startup costs differ for each model but here’s a quick overview:
- Photo editing: Luminar AI ($79), Photoshop (Subscription), graphic tablet (~$100)
- Virtual modeling: CapCut (free), photography lighting gear (variable cost)
- Video captions: Descript ($10/month), Otter.ai ($20/month), Rev ($50/month)
- AI Writing: Claude API Waitlist (free), Jarvis ($30/month), SEO tools
- Content Repurposing: Opusclip ($TBD), design software like Canva ($12/month)
You can start many of these businesses without big upfront investments in software or gear. Monetization potential is huge relative to costs.
Tips For Success
Making money with AI requires skill sets beyond just knowing the tech. Here are crucial success factors:
- Niche focus: Become an expert in specific domains like AI real estate photo editing rather than a generalist. This builds authority.
- Hybrid services: Combine AI software with specialized talents only you offer e.g. artistic photo colorizations. This creates unique value propositions over AI alone.
- Business foundations: Professional branding, copyrighting, contracts, accounting, etc. still apply! Build these business muscles.
- Relationships: Active networking and referral partnerships with complementary service providers drive growth faster than cold outreach.
- Portfolio: Curate before and after samples for the services you provide to clearly showcase ROI.
Master these aspects in addition to AI skills to propel income potential.
Income Potential
The income upside of AI businesses is tremendous, especially if you focus on underserved niches.
Here are sample rates to give you an idea:
- Photo editing: $5 to $100+ per image
- AI virtual modeling: $50 to $500 per final rendered image
- Video transcription: $1.00 to $5.00 per minute
- AI writing: 10 to 25 cents per word
- Content repurposing: $500+ per long form > short form video
With existing client demand on platforms like Fiverr, you can expect to earn $5000+ per month working full time on many AI services business models, even as a solopreneur.
Software automation allows infinite scalability beyond your own time constraints too. Sky is the limit!
Conclusion
The AI revolution is here and 2024 presents lucrative opportunities for regular people to build service businesses catering to surging corporate and consumer demand.
As this guide outlines, you don’t need an advanced technical background to make money with AI. The technology has matured to the point anyone can tap into it.
By leveraging no-code AI tools in areas like photo editing, virtual modeling, writing and content repurposing, you can start selling services right away.
Focus on addressing high-value business problems and combining AI software with specialized talents only you possess. This creates a formidable competitive advantage.
If you act now and commit to constant skills development as technology progresses, you can build amazing income streams that leverage AI rather than be disrupted by it.
I wish you the very best in your AI entrepreneurship journey ahead! The time is now.
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