Top 5 AI Businesses To Start in 2024: Navigating the AI Business Landscape
A Comprehensive Guide For No-Code Solutions or Services to Offer.
Introduction
AI is not a trend, it is more so a life-changing opportunity. AI will be responsible for a lot of self made millionaires. I feel like a lot of the wealthiest people in the world obtained their wealth through capturing and capitalizing on trends at the right time.
I was watching a video that mentioned this exact point that most people that we watch on YouTube now are wealthy because they hopped on a trend at the right time. He stated things such as Andrew Tate becoming mainstream through the red pill era and gaining lots of capital through his online university, Luke Belmar got rich through crypto, basically all of these people getting rich through being at the right place at the right time.
AI is innovation and opportunity for a ton of individuals, and with that in mind before I get into my points, I invite you to subscribe to my newsletter, where we cover current market trends & AI trends that will save you time and money as a business owner weekly -> our free newsletter.
AI Business Fundamentals to Keep in Mind:
In the vast expanse of the AI ecosystem, understanding the core principles is paramount. As a company, your will build the best foundation on these set of fundamental principles:
- Niche Down, Niche Down, Niche Down: Focus on untapped online markets to carve out your niche and distinguish your brand.
- Leverage Your Background: Do you have a history in sales, history in healthcare? leverage these things! This will fast track your path when starting this business and will already position you as an expert in your field. Harness your expertise to create compelling content that resonates with your target audience and builds a robust brand identity.
- Make the Solution the Selling Point, Not AI: Emphasize the problem-solving capabilities of your AI solutions rather than the technology itself. People don’t care about AI, they care about what you can help them with.
- Stay Updated and Keep Learning: In the dynamic landscape of AI, continuous learning is not just a virtue but a necessity for sustained success. AI will constantly be changing over the next few years, stay in-with-the-know.
Business Idea #1 AI-Powered Personalization Model
This business idea involves helping business owners personalize their marketing procedures so they can increase conversion rates and also get higher response rates. This can be reaching out to a potential lead and stating “Hey Jack I like that you are into photography, I was reaching out to tell you ___”. Instead of sending out the same mass email campaign to all your prospects and having barely any of them respond, because they think it is a bot.
With the rise of artificial things, the cravings of personalization is upon us, presenting a myriad of opportunities for businesses to tailor their offerings to individual preferences. This idea can be offered through personalized software, micro-SaaS solutions, or consultation services, the goal should be consistent: enhance customer experience and drive conversions.
Gohighlevel recently released Gohighlevel AI which is essentially a AI conversational bot that will have conversations with your consumers in your facebook or instagram inbox, so you can provide this for your clients or even sell the entire software to your clients & make very good money. Gohighlevel is a white-label software that people are making a lot of money from every month and I think they will be rolling out a lot more AI features as well, so I would definitely check them out for their 14 day free trial.
Estimated Revenue: The market for AI-powered personalization is projected to soar to $63.38 billion by 2027, underscoring the immense potential for growth and innovation.
Examples: Companies like itemilize.com and Intellimize exemplify the transformative power of personalized solutions, offering tailored experiences that resonate with their target audience.
Business Idea #2 Multilingual AI Content Curation Models
The problem is business owners are only tapping into one side of the market utilizing AI, but what if you can help them tap into another culture that wants their product but feels as though there is a language barrier, this is where you come in and provide your solution. Building AI systems that understand all forms of language and allow the company to market at a bigger scale than usual.
Mr. Beast, the #1 youtuber in the world is excellent at this as he has several different youtube channels catering to different languages.
“As businesses expand their horizons beyond linguistic barriers, the demand for multilingual content curation models has surged. By developing SAAS solutions tailored to specific markets, businesses can bridge cultural divides and unlock new avenues for growth.”
Examples: Wayfair.com stands as a testament to the efficacy of multilingual solutions, leveraging translation services to connect with diverse audiences and drive meaningful engagement.
Business Idea #3 AI Data Analysis
Let me make something clear, humans are slow, robots aren’t.
Humans don’t like looking at large sets of data and making multiple tiny decisions over long hours, we get decision fatigue, zone out, or just flat out get bored, robot don’t. Humans make mistakes, robots make fewer. So the time for AI data analysis can come and be a great asset for any company to ease up employers busy work, and also have a more efficient company culture.
AI Data Analysis would be analyzing loads of data that a company has to go through and getting the best outputs from that data. You can provide this to companies that already have a budget for it, or like I said niche down in an industry that you are already familiar with, and offer this solution if you have already experienced a common problem.
A common example would be job applications. Employers have to sit through and look at 1000s of job applications just to only hire a few people. What if you could make this process more efficient for them by creating a custom software that can hand select applications that meet specific requirements? You could save these employers loads of time, so that is your selling point.
In the age of information overload, deriving actionable insights from vast datasets is both a challenge and an opportunity. By leveraging AI-powered data analysis platforms, businesses can unearth hidden patterns, identify market trends, and drive informed decision-making.
Examples: Companies like C3.AI are at the forefront of data analysis, empowering businesses to optimize operations, mitigate risks, and seize opportunities in an ever-changing landscape.
Business Idea #4 AI-Powered Personas for Individuals
AI powered personas are essentially digital databases that have the same information and knowledge base of either a consultant, coach or even a brand. You can personalize this information to your knowledge or the things you know about your brand create two different business model solutions.
The 1st: Marketing teams that want to achieve a higher conversion rate in their marketing and want to spend less money on ad spend. You come in and create a chatbot persona which is essentially a persona of the type of consumer they target and allow them to run it through a test of ads, for best conversions and saved income.
An example, “Hey MEVE AI, I have this marketing campaign A and this marketing campaign B, which would perform better in your eyes”.
This chatbot would be tailored to your target audience.
The 2nd: You create a persona of coach, consultant, or community leader, so their audience can communicate with a version of them 24/7 and ask them questions. This is similar to 24/7 automated customer support but at a more deeper level, because these personas would be able to answer any question using your idealogy instead of just just 5–6 common questions like a customer support bot.
From creators to marketing teams, the demand for AI-powered personas is on the rise. By deploying chatbots and persona software, businesses can enhance customer engagement, streamline marketing efforts, and drive conversions.
To go in further in-depth to help you guys out, I would target facebook groups with coaches, consultant, and trainers! I would join as many as I can in every city, then try to book meetings with members inside of these groups. I kid you not, my ghostwriting agency personally made 16.5k last month through just targeting facebook groups and sending daily automated DMs through leadbook.
Examples: Servata and Sprout Social exemplify the transformative potential of AI-powered personas, enabling businesses to tailor their messaging and forge deeper connections within their audience.
Business Idea #5 AI Ethical Solutions Consultant
Last but not least!
With great power comes great responsibility, especially in the realm of AI. As businesses rush to embrace AI, ethical considerations loom large, necessitating the deployment of responsible AI solutions and ethical frameworks.
You can essentially become a consultant for this by delivering the selling point as an “AI ethicist”.
Heres how it goes:
You help mid-market companies safely and responsibly deploy AI into their businesses for maximum output, long-term sustainability, accountability for any upcoming updates, and leveraging your expertise.
People don’t realize that a lot of problems can rise with AI such as unnecessary lawsuits, privacy claims, future bannings and regulations, so you need to be the problem preventer and solver!
You can help companies leverage AI and human beings in the same space and consult an employer on how to get max output on each in the workforce.
I would connect with corporate responsibility departments for this one and really position yourself as an expert. Maybe, you can start out as a nonprofit, research organization, or just collect case studies of the precautions of using AI irresponsibly as a business owner over time and collect the harmful effects. Make the selling point that the use of AI, without consulting with an AI consultant can actually hurt you in the long run, even though AI may be cost effective for the business in the short term.
Examples: Initiatives like Microsoft’s Responsible AI and Accenture’s AI ethics consulting already underscore the importance of ethical governance in AI-driven enterprises.
Closing Notes on Approach and Implementation
To Close out….
- Target Desperate Locations: Identify regions with pressing needs and position your business as a solution provider. Find little spaces on the internet discussing a certain problem in YOUR industry, and market your solution to them first.
- Leverage Communities: Engage with local clubs and online communities, chambers of commerce, and government agencies to foster meaningful partnerships and drive growth.
- Embrace Gradual Implementation: Prioritize gradual, long-term AI implementation to lessen risks and uphold good standards.
- Foster Trust and Transparency: Develop clear communication strategies and foster collaboration between stakeholders to promote ethical governance and transparency.
- Forge Partnerships: This business model is hard to do on your onw because 1, you have to learn AI, 2, you have to learn business. It is hard to both at the same time by yourself. Recognize the value of collaboration and consider partnering with experts to navigate the complexities of this.
In conclusion, the journey of AI entrepreneurship is fraught with challenges and opportunities. By staying abreast of industry trends, embracing ethical frameworks, and fostering meaningful partnerships, businesses can chart a course toward sustainable growth and innovation in the dynamic landscape of AI.
Remember, mastering the art of AI and business simultaneously is no small thing. Consider seeking partnerships and leveraging expertise to navigate this exciting yet challenging journey, like partnering with us so we can write for your business ;)
To Conclude, In the words of Benjamin Franklin, “Energy and persistence conquer all things.” With dedication, innovation, and a steadfast commitment to excellence, the possibilities in the realm of AI business are truly boundless.
Thank You For Reading!
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