19 Best AI Business Ideas and Methods for 2024 (From Startup to 7-Figures)

Thinking about starting your own business? An AI business can give you a significant edge.

With numerous possibilities, choosing the right AI business idea is important. The right choice can make your entrepreneurial dreams come true, while the wrong one could lead to failure.

This article highlights the 19 best AI business ideas and methods for 2024 and provides insights from experts.

19 Best AI Business Ideas and Methods for 2024

1. AI Writing Business

AI writing services are in high demand for content creation on blogs, websites, and more. Offering AI writing tools can help businesses save money on expensive writers and time on manual research. Tools that incorporate SEO strategies can generate ready-to-publish articles. Key benefits include:

• Reduced reliance on content writers
• Streamlined workflows
• Increased content production

2. AI SEO Services

AI-driven SEO tools can help businesses improve their website rankings, driving more traffic and sales. These tools provide in-depth analysis and easy-to-understand reports with on-page optimization strategies. They can also suggest improvements for content strategy and SEO backlink strategies.

• Enhanced content creation efficiency
• Cost and time savings by eliminating the need for manual research and expensive writers
• Improved website rankings and increased traffic and sales through AI-driven SEO optimization

3. AI Freelancer Helper

Freelancers often face repetitive tasks that consume valuable time. An AI tool that automates invoices, creates client proposals, manages project timelines, and integrates with other AI tools can significantly enhance productivity. This tool can also help freelancers expand into new niches.

• 3 key benefits for AI freelancer helper: Increased productivity: An AI freelancer helper automates repetitive tasks such as invoicing, proposal creation, and project timeline management, allowing freelancers to focus on more important aspects of their work.
• Enhanced efficiency: By integrating with other AI tools, the freelancer helper streamlines workflows and reduces the time spent on manual processes, enabling freelancers to accomplish more in less time.
• Diversification opportunities: With the support of an AI freelancer helper, freelancers can explore new niches and expand their services, tapping into additional revenue streams and broadening their client base.

4. AI to write e-books

Writing e-books and selling them on places like etsy.com and https://amzn.to/4cFBq0a, can be a lucritive business. Using an AI tool like ChatGPT or Copy.AI to write the e-books can be a profitable business strategy for 3 reasons. It eliminates the need for costly professional writers. AI-powered tools can conduct thorough research, incorporate SEO techniques, and produce e-books ready for publication in minutes. All that is needed is the right prompt. Additionally, AI automation can handle repetitive tasks involved in e-book writing, freeing up valuable time for other crucial aspects of the business.

5. Ad copy business using AI tools

An ad copy business specializes in creating persuasive advertising content. AI can be used to streamline and optimize this process, making it more efficient and profitable. By leveraging AI tools, such as ChatGPT or Copy.AI, you can generate high-quality ad copy quickly and cost-effectively. These AI-powered tools can analyze market trends, customize messaging for target audiences, and even automate A/B testing for optimal performance. Find clients who want this service on places like Fivver, Upworks or even in Facebook groups.

6. eCommerce Store

AI technology can help non-technical business owners set up online stores by describing their needs in plain English. These tools can analyze market trends, prioritize products, and handle customer inquiries, enabling businesses to operate 24/7.

Three examples of platforms you can create an ecommerce store on are as follows:

• Shopify a subscription-based e-commerce platform that helps businesses create, manage, and grow an online store or sell in-person or on-the-go.
• WooCommerce a free, open-source e-commerce plugin for WordPress that allows users to create online stores.
• Etsy an online marketplace that connects buyers and sellers from around the world to buy and sell handmade, vintage, and craft items.

7. Business Branding Agency

A business branding agency is a company that specializes in creating and managing brands for other businesses. There are three key benefits to using AI tools in this field.

• AI can analyze market trends to help tailor branding strategies to target audiences.
• AI tools can generate high-quality content quickly and cost-effectively, including ad copy and messaging.
• AI can automate tasks like A/B testing for optimal brand performance.

8. Graphic Design Agency

• Good Branding requires great graphics. Text-to-image AI tools can create custom graphics for businesses. Offering this service allows you to cater to multiple clients efficiently. These tools enable flexible design revisions and updates, making it easy to scale into various niches. Here are 3 common AI tools used for creating business graphics.

AI Marketing Agency utilizes artificial intelligence technology to enhance marketing strategies and drive business growth. By leveraging AI-powered tools, such as data analysis, predictive analytics, and personalized targeting, these agencies can optimize marketing campaigns for maximum effectiveness. As a result, businesses can reach their target audiences more efficiently and generate higher ROI. To start earning money with an AI marketing agency, you can offer your services to businesses seeking cutting-edge marketing solutions and promote your expertise through various channels, including online platforms and social media networks.

10. Create Online Education courses or classes

Creating online education courses can be a lucrative way to make money. AI can assist in this process by providing automated content creation, personalized learning experiences, and data-driven analytics. By incorporating AI tools into your online education courses, you can enhance the overall learning experience for students and improve engagement. Additionally, AI can help you streamline administrative tasks and automate grading, saving you time and allowing you to focus on creating high-quality educational content.

Here are three online course platforms to check out:

• Coursera: Coursera offers a wide range of online courses from top universities and institutions. Their platform provides interactive learning materials, video lectures, and assessments to help students acquire new skills and knowledge in various fields.
• Udemy: Udemy is a popular online learning marketplace that allows instructors to create and sell their own courses. With a vast library of courses covering diverse topics, Udemy provides learners with flexible and accessible learning options.
• LinkedIn Learning: Formerly known as Lynda.com, LinkedIn Learning offers a vast collection of online courses taught by industry experts. Their platform focuses on professional and business skills development, making it a valuable resource for individuals looking to enhance their career prospects.

11. Create AI-Enhanced Chatbots

AI chatbots can provide 24/7 customer support, handling questions instantly and directing users to the right resources. These chatbots can communicate in multiple languages, track customer feedback, and help businesses improve their products and services.

• There are several ways to make money by offering chatbots. Here are 3 of them:

AI can significantly contribute to the monetization of your blog by automating content creation, personalized learning experiences, and data-driven analytics. Blogging has been around for many years as a viable way to earn money.

To learn more about how to use AI for your blog, read this article: The Secret Sauce of Profitable Blogging: How to Turn Your Passion into Paychecks

13. AI-Driven Content Creation

Content Creation comes in many forms.

AI-Driven Content Creation can be a profitable method for making money. AI-Driven Content Creation can generate revenue through various mediums such as blog posts, articles, videos, and podcasts. By leveraging AI technology, bloggers can automate the process of generating high-quality content, saving time and effort. This enables them to produce a greater volume of content and cater to a larger audience. Additionally, AI-powered content creation tools can optimize the content for search engines, increasing visibility and attracting more organic traffic to the blog. In turn, this can lead to higher monetization opportunities through advertising, sponsored content, affiliate marketing, or even selling digital products. Unlocking the Secrets of Affiliate Marketing: How to Earn Big as a Blogger

To make this easier, an AI tool that serves as a central hub for content creation, including writing, image generation, and video creation, can streamline workflows for business owners. Maintaining a consistent voice and style across different channels is crucial for brand cohesion.

14. Personalized AI eCommerce Recommendations

Set up eCommerce platforms for clients. AI-Powered Product Recommendations An AI-powered eCommerce recommendation platform utilizes machine learning algorithms to analyze customer behavior and provide personalized product recommendations. By understanding individual preferences and purchase history, businesses can offer targeted suggestions that increase sales and enhance customer satisfaction. This AI tool revolutionizes the eCommerce industry by delivering customized shopping experiences to each user.

15. Freelancing with AI

Freelancing comes in many different forms from content creation task to video editing tasking and everything in between.

Freelancers can leverage AI tools in various freelancing domains to enhance their work and increase earnings. Three types of freelancing jobs where AI tools can be applied include content creation (writing, image generation, and video creation), data analysis and insights, and virtual assistance. These AI tools streamline workflows and help freelancers deliver high-quality work while maximizing their potential for financial success.

Here are three freelancing platforms to get jobs on:

• Upwork
• Fiverr
• Freelancer

16. AI in Stock Trading and Investment

AI can revolutionize stock trading and investment by analyzing trends and making predictions. AI-driven algorithmic trading, risk management, and portfolio management help investors make informed decisions and optimize returns.

Trade Ideas: Trade Ideas is a powerful AI software used in stock trading that provides real-time market scanning and analysis. Its algorithms generate trade ideas and filter through vast amounts of data to identify potential opportunities in the stock market. Quantopian: Quantopian is a popular AI platform that allows traders to develop and test their trading strategies using machine learning algorithms. Traders can leverage Quantopian’s data library and backtesting capabilities to build and optimize their investment models. Kensho: Kensho is an advanced AI platform that combines natural language processing and machine learning to provide insights and analytics for stock trading. It helps traders automate research, analyze market data, and generate personalized investment recommendations. Note: Please make sure to conduct your own research and due diligence before using any AI software for stock trading. This information is for reference purposes only and should not be considered as financial advice.

17. Affiliate Marketing of SAAS (software as a service)

Affiliate marketing of SAAS (software as a service) products involves promoting and selling SAAS products on behalf of the product owners in exchange for a commission. Three effective ways to promote SAAS products and make money are through content marketing, social media marketing, and email marketing.

Content marketing is the practice of creating and distributing valuable content to attract and engage a target audience, with the ultimate goal of driving profitable customer action. It helps businesses build brand awareness, establish credibility, and generate leads, ultimately leading to increased revenue.

Social media marketing involves using social media platforms to promote products or services, engage with customers, and build brand awareness. It helps businesses reach a wide audience, build a loyal customer base, and drive traffic to their websites or landing pages, ultimately resulting in increased sales and revenue.

Email marketing is the process of sending targeted emails to a group of individuals who have opted in to receive communication from a business. It helps businesses nurture relationships with their customers, promote products or services, and drive conversions. By utilizing personalized and engaging email campaigns, businesses can increase customer retention, drive repeat purchases, and ultimately increase their revenue.

18. Create explainer videos on Youtube

Creating explainer videos on YouTube can be a lucrative way to make money by demonstrating how to use a product. By leveraging AI tools, such as natural language processing, computer vision, and speech recognition, these videos can be enhanced with accurate subtitles, visually appealing graphics, and voice-over narration, increasing engagement and attracting a larger audience.

Three tools that may be of help are the following:

Animaker: Animaker is an AI-powered tool that allows users to easily create videos from scripts. It offers a range of customizable templates, animations, characters, and backgrounds to create professional-looking explainer videos. Wave.video: Wave.video is another AI-based tool that simplifies the process of creating videos from scripts. It provides a user-friendly interface, extensive media library, and features like text-to-video technology and video editing capabilities to create engaging and visually appealing videos. Lumen5: Lumen5 is an AI-driven video creation platform that transforms text into engaging videos. With its intuitive interface and AI-powered automation, it enables users to quickly convert scripts into video content by automatically selecting relevant visuals and adding text overlays, background music, and voice-overs.

19. Create Guides or ebooks about Health and Wellness

Use a AI tool like ChatGPT or Claude to write recipe books or positive affirmation books. See these via social media, email marketing or places like etzy.

Example of a prompt to use to create a guide would be: “”Create a recipe book focused on quick and healthy meals for busy professionals. Include breakfast, lunch, dinner, and snack recipes, with nutritional information and preparation tips. Use an engaging and practical tone. The recipe book should be around 50 pages, with high- quality photos and easy-to-follow instructions.”

Using AI in Business

AI has become more accessible and affordable, making it an excellent time to start an AI business. Even if you’re not running a fully-fledged AI business, you can use AI tools to improve customer service, operations, logistics, product development, marketing, sales, finance, and risk management.

Considerations Before Starting an AI Business

Starting an AI business involves costs for training and maintaining AI models, hiring experts, and ensuring data security. Understanding your competition and the types of AI technology that will benefit your company is essential.

Conclusion

These best AI business ideas and methods offer exciting opportunities for 2024. Embracing AI now can position you ahead of the competition and set you up for long-term success.