How does AI help you become a millionaire? The use of cutting-edge technology such as artificial intelligence tools such as ChatGPT provides you with far more opportunities to improve your life than simply doing your homework or editing your selfies and videos.
Take advantage of them, as a self-made millionaire and RSE Ventures CEO Matt Higgins suggests, and they could become your next source of income.
“AI will be the greatest wealth creator in history because artificial intelligence doesn’t care where you were born, whether you have money, whether you have a PhD,” Higgins tells CNBC Make It.
“It’s going to destroy barriers that have prevented people from moving up the ladder, and pursuing their dream of economic freedom.”
Also read: Here’s how you can activate your Windows 11 free with ChatGPT
The AI market is expected to rapidly grow in the coming decade, valued at almost $100 billion, contributing $15.7 trillion to the global economy by 2030.
“It’s not that if you don’t jump on it now, you never can,” Higgins says. “It’s that now is the greatest opportunity for you to capitalize on it.”
According to experts, here are a few ways you can use AI to become a millionaire.
How does AI help you become a millionaire?
Freelancing
AI can help you earn money by utilizing your skills in writing, graphic design, and photo and video editing.
“Let’s say you’re a liberal arts college student who may be considering continuing school, or just learning something new. Now would be the time to increase your knowledge about AI,” says Susan Gonzales, founder, and CEO of AIandYou, a nonprofit that teaches AI skills to people from marginalized communities.
With today’s generative AI tools, you can already write business plans and create digital artwork. Importantly, you must edit the language so that it sounds less like a robot and more like you by fact-checking and proofreading every word and pixel produced by an AI tool.
Kristen Walters, for example, already uses an AI tool called Jasper to create digital products such as workbooks, e-books, and audiobooks.
Walters, a lawyer turned entrepreneur and publisher, described her process in a recent Medium post: “Let’s say that I have an idea for a digital ‘workbook’ to help self-employed people manage their money better. I would use Jasper’s ‘chat’ feature to come up with an outline for my workbook. I used the prompt: Write an outline for a workbook titled ‘Money Management for Freelancers.’”
Jasper created the outline in 30 seconds, according to Walters. She later revised and polished the outline, transforming it into a completed workbook that she formatted in Canva and sold online.
Some freelance jobs can pay well over $100 per hour.
Entrepreneurship
Gonzales advises small-business owners to investigate AI tools in order to increase revenue, improve inventory management, analyze customer behavior, and gain competitive intelligence.
AI tools can target marketing and advertising efforts effectively, identifying new revenue opportunities and improving marketing and advertising efforts.
ChatGPT is used to fill out forms when onboarding new clients, according to Jacqueline DeStefano-Tangorra, CEO and founder of boutique consulting firm Omni Business Intelligence Solutions.
She begins by importing her current templates into ChatGPT, then instructs the tool to delete the old client’s data and replace it with the new client’s name and the mutually agreed-upon terms.
“Now, I have an agreement in their hands in 10 minutes,” she said.
Additionally, DeStefano-Tangorra uses ChatGPT to create meeting agendas that she then shares with her clients.
Don’t upload any confidential information to an AI tool, experts say: It’ll store, analyze, and learn from everything you input. Beyond that, feel free to experiment, says Gonzales.
“The wonderful thing is, today, all we have to do is search ‘how to improve my small business with AI tools,’” she says. “The information is out there.”
Tutoring
AI tutoring — or teaching people how to get the most out of generative AI tools — isn’t a well-paid position just yet. Gonzales predicts that it will happen soon.
“There are many online learning opportunities to understand how AI works, which then could help [someone] possibly become an AI tutor or to do some AI training to pass it on to the next generation,” she says.
Schools like Harvard and the University of California offer free AI courses, focusing on algorithms, data analytics, and other skills, preparing individuals for the inevitable opportunities in the AI industry.
