People are always looking for ways to make additional money alongside their full-time jobs which requires minimal effort. With the rise in technology, we can easily make money with AI.
Technologies like automation and machine learning are widely used across the globe to make money with AI. Now this does not mean that you will log in to an AI app and money will start flowing into your account. AI has been made to help humans by handling tasks that require hours of manual labor.
Businesses and individuals make content using AI chatbots that save them time and increase their work efficiency. AI can work 24/7 making it easy for us to automate tasks and make money even when we sleep.
Here are some of the best ways to make money with AI that also works as a passive income stream.
Table of Contents
1. Create Content
One of the best ways to make money with AI is by creating content. According to a report, the CAGR of the digital marketing market is estimated to grow by around 11.1%. AI tools like Jasper, ChatGPT, and Writesonic have made it so much easier to write content. AI can easily write YouTube video scripts, VSLs, blog posts, social media captions, etc.
These tools use their data to create content that aligns with the algorithm and is SEO optimized. This work would usually take hours if done by humans otherwise. This simply means that you can create tons of content across different platforms without the need to constantly brainstorm ideas and write for hours.
To make money with AI, you can set up a blog or a YouTube channel and monetize your content through affiliate marketing, ads, or by selling digital products like eBooks or courses.
This is one of the best ways to make passive income and with the help of AI your work becomes more easy and efficient.
Write articles or scripts through tools like Jasper and ChatGPT. To create YouTube videos use AI editing video tools like Lumen5 or Pictory. Tools like Writesonic and AnswerThePublic can help you find content ideas that are trending.
2. Invest in Platforms Run by AI
You can earn passive income by investing in AI-driven investment platforms which are also known as robo-advisors. Some of these platforms include Betterment, Acorns, and Wealthfront.
They use AI to manage investment portfolios by studying the algorithms and taking market trends, financial goals, and risk tolerance into account before making a decision. This relieves a person of the need to constantly monitor their portfolio.
Robo-advisors can help you make passive income by making decisions on your behalf. This allows you to grow your wealth by having to put in minimum effort.
3. Set up a Dropshipping or Print-On-Demand Store
You can set up a dropshipping or a print-on-demand store that runs with minimal effort because there is no need for physical inventory. Tasks like customer service, marketing, and inventory management can be automated by using AI chatbots.
AI tools can handle all these tasks. They can easily track inventory and reply to the questions of customers. For marketing, AI can design email campaigns for your targeted audience. You will only need to focus on scaling your business.
The e-commerce store that you will set up will be making passive income once it is up and running. AI will be handling all day-to-day tasks and making money without any effort from your side besides setting up the store initially. There is no need for physical inventory and this makes it easier to automate these business models.
Shopify is one of the most popular platforms to run a business be it a print-on-demand store or any other niche-related dropshipping store.
4. Affiliate Marketing
You must be well aware of how affiliate marketing works but what you might not know is that you could use AI to optimize your content for SEO and also automate the placement of affiliate links in your content.
With the help of AI tools, you can easily analyze keywords, identify trends, and create content that will attract more traffic. This helps ensure that your specific affiliate links are placed in places that make it easier to convert your visitors into buyers.
Once you are done placing your affiliate links, you can easily generate passive income without any ongoing effort. You can also use AI-based tools like SurferSEO or Clearscope. These help in creating SEO-based content that will rank higher in search engines making it possible for your affiliate links to reach a wide range of audiences.
5. Create and Sell Online Courses
It has become super easy to create educational content by using AI. With the help of AI, one can easily create engaging quizzes and create content for their targeted audience. Many people like to sell their skills if there is a top-rated copywriter and they want to sell their course, they can teach their copywriting skills by creating a course.
To create this, they can use AI to develop materials based on their learner’s needs. This saves them time and once the course is ready, they can earn passive income by automating the sales part. By using automated marketing techniques, the course will be able to attract the targeted audience.
You can make money with AI by selling these courses on platforms like Udemy and Teachable.
6. Start a Chatbot Business
You must have come across websites where if you need to chat with someone, you are given answers automatically unless you request to talk to an actual representative. These automated answers are given by AI chatbots.
Almost everywhere in the world, businesses are using these chatbots to improve their customer service and increase efficiency. You can develop and deploy such chatbots for businesses which can help them by improving their customer services and automating their routine tasks.
These bots work by providing instant responses and guiding their users through different processes. You can sell your services to these businesses by developing a chatbot and letting them use it and in return, you can charge a fee for the usage and maintenance of your developed chatbot This will also work as a passive income stream while you work on other projects.
You can use chatbot development platforms like ManyChat, Chatfuel, or Tars to create customized solutions for your clients based on their needs.
7. Create and Sell Designs Using Canva
The print-on-demand business is thriving and people are making loads of money using this. By using different AI tools, you can also make designs for wall art, t-shirts, mugs, sweatshirts, hoodies etc.
With the help of these AI tools, you can look for market trends and even design products. Then you can upload these designs on platforms like Printful and Redbubble and earn money when these designs are sold.
There is no need to keep inventory and you will be able to make money with AI. Canva has introduced AI design generators that can make this work super easy.
Here are some of the best ways to make passive income using Canva.
8. Sell Digital Art as NFTs
AI has made the work of artists super easy and by using different AI art generators like DALL·E or Artbreeder, artists can experiment with different styles that are otherwise too difficult to do manually.
These art pieces can then be sold as NFTs.
Once that artwork is sold as an NFT, you can earn royalties whenever it’s resold in the marketplace. This will work as a wonderful stream of passive income.
NFT platforms like OpenSea and Rarible can be used to list your work and manage sales.
9. Automate Your Social Media To Make Money
Businesses or influencers with a social media presence need to constantly change their marketing strategies across different platforms to increase engagement and generate sales.
These AI tools can help in seeing trends, analyzing audience behavior, and then posting at times when the audience is mostly active. You can even come up with content that engages your audience.
By automating all of these tasks such as posting and engaging, you can easily create an online presence without having to spend hours manually doing this work.
The moment you set your social media channels and automate them, you can earn money from ad revenue, sponsored posts, and affiliate links without having to actively do everything.
You can use tools like Hootsuite, Buffer, or SocialBee with AI integrations to help you earn more money. These platforms can manage multiple accounts, making it easier to make money with AI.
10. Create an App
To create an app, you will first need to look for a solution that people are looking for. There must be some gap in the market or problem that people are facing and there is no solution available. You can then start creating an app that solves the problem and for this, you can use AI tools to develop the app. Various platforms will help with coding, speed up, and development process. Then work on enhancing the features of your app by using chatbots, image recognition, etc.
Once the app is ready to use, launch it on the Apple App Store and Google Play and start earning by In-app purchases, subscriptions, or added revenue.
Frequently Asked Questions
How to use AI to make money in the stock market?
By using trading bots and algorithms you can study market data, predict trends, and execute trades automatically. Platforms like E*TRADE or Alpaca offer bots that can help optimize trading strategies, allowing you to benefit from algorithmic trading without constantly monitoring the market.
How to make money with AI online?
AI can help an influencer, freelancer, or business earn by creating content, automating eCommerce stores, affiliate marketing using optimized strategies, or trading with AI bots.
Is it possible to make money with AI?
Yes, it is possible to earn with AI. First, you need to identify what you want to do to earn money like selling digital products or trading. Then you will need to narrow down and find AI tools that can make your task easier by assisting you.
Can I make money with AI bots?
Yes, you can either build chatbots for businesses and charge them a fee for this or you can start selling AI bot templates. The second method is very lucrative as you can create ample templates at a time and sell them multiple times to generate passive income. These templates have the option to be customized and businesses that buy them will find it more attractive as they can set it the way they like.
Conclusion
There are several ways through which you can earn passive income with the use of AI in 2024. AI can do anything. From creating content to marketing to creating an app, it can assist in everything and create value for the user.
You just need to learn to use AI effectively to be able to make money through it. AI is not here to replace humans, it is just here to assist them. There is a lot of debate surrounding the use of AI, whether it is ethical to use it or not.
The only thing to keep in mind is to use it to make your life easy. You should never steal someone’s work. AIl AI tools require a good prompt to be able to generate the best results and this is not possible without humans. So if you are looking to make money with AI, you need to learn to use these tools efficiently for the best results.