Artificial intelligence can even allow you to create passive income and build wealth on autopilot.
But whether you’re a seasoned entrepreneur or an aspiring small business owner, AI can be an intimidating topic. Thankfully, you don’t need to be a software engineer or a coding genius to start an AI business. 💻📈 In 2024, AI tools are more accessible than ever—and they can help you reach your financial goals and build a profitable business (or two!).
Whether you’ve been struggling to start a business but have no ideas or want to grow a company you already have, here are 10 innovative AI business ideas that every entrepreneur should consider:
AI Business Idea #1: AI-powered e-commerce storefronts
Did you know you can run an e-commerce storefront without ever actually seeing the product in real life?
You can use Printify for drop shipping services to streamline an e-commerce venture. This AI business idea is especially profitable because your item only gets created after a purchase. And, Printify will take care of everything from printing to shipping. 📬
Instagram user @adam.godigital shows how he went about it. He used an AI image generator called Ideogram to create designs (based on trending ones in the market) and then uploaded them to Printify. There, he made mockups and listings of different products like mugs or T-shirts. 👕
And since Printify can link to a variety of storefronts like Shopify, Etsy, or the TikTok Store, you only have to upload your listing once and get to selling.
Pros:
No upfront costs
Business runs itself after design uploads
Don’t have to create a listing twice
High level of automation
Cons:
Requires market research
Printify takes a cut of your profits to account for production
Constantly have to update designs to reflect trending products
AI Business Idea #2: AI-powered app development
Thanks to AI, you can have all the Legally Blonde moments you’d like. 👩🏼
Make an AI app? What, like it’s hard? 🎓
The top 200 apps on the App Store make over $82K a day. The top 800 make over 3K a day. Why don’t you see how much you can make without going through the traditional pains of software development? 💸
TikTok user @aashowa walks through how easy it is to make an app with Imagica. All you have to do is pick the industry you want your app to fall in, choose a pre-built template, and then directly import it into Google Play or the Apple Store. Yep, it’s that AI-driven. These AI algorithms have really come a long way.
The AI also has payment tiers that let you introduce SaaS monetization for extra income.
Pros:
Anyone can do it
No upfront costs
Done in minutes
Popular apps are quite lucrative,
The options are endless
Cons:
Lots of players in the market
Can’t profit without a large following
To maximize profit have to invest more
App stores take a cut of in-app purchases
AI Business Idea #3: AI-powered Pinterest affiliate marketing
The pins you post on Pinterest are so much more than just vision board fodder. Did you know you can partner with brands to get a cut of any product that you directed someone towards? All they have to do is use a special link you get called an affiliate link.
You can get these affiliate links through partnerships that you’ve negotiated or through affiliate link marketplaces like PartnerStack, ClickBank, and Warrior+Plus.
Affiliate links often give you anywhere from 1%-30% of the sale that the buyer made from your link. And any little bit adds up when we’re talking about alternative streams of income.💲
YouTube user @MakeMoneywithStacyLa says she’s made six figures using affiliate marketing and uses the AI tool Perplexity to help come up with body copy and titles for her pins.
You can also make it simpler to run your Pinterest affiliate marketing business with artificial intelligence tools like Buffer AI Assistant that can create, repurpose, and optimize content for your boards. It can do this through its analysis of real-time trends.🤖
Pros:
Available for free
Allows you to build your brand
Can be incredibly lucrative
Cons:
Requires consistent posting
Sometimes have to apply to partner with a brand
Have to generate a lot of sales to make a noteworthy income
AI Business Idea #4: AI-powered PLR content
If you make PLR content, you’re bound to streamline any professional's marketing strategy for content creation. 💻 (Plus, this is one of the best AI business ideas for digital nomads, since you can do it from anywhere in the world.)
PLR content refers to any content that you make yourself and when you sell, the buyer has the right to use your work as their own. This can be anything from a customized social media template to website layout designs. 📖
You can use something like Canva’s Magic Design™ AI tool to simplify the graphic design process and create unique PLR content fast. Then, you can sell your templates and designs on freelance marketplaces like Fiverr or Upwork. Or, you can add them to a Shopify store and use social media to drive sales.
Pros:
Hands-off as soon as content is created
High demand
Can mark up prices
Applicable to a wide range of skills
No cost up-front
Cons:
Not a reliable source of income
Making quality content can be a learning curve
Hard to stand out by relying solely on AI
Lots of competition in the market
AI Business Idea #5: AI-powered YouTube videos
Did you know that you can make $18 for every 1,000 views on YouTube videos? 📹
TikTok user @thecouchclub details this in their TikTok as they realize a video of a fireplace crackling has likely raked that user in 300K. 💰
And we can completely automate this business venture by making it AI-based. inVideo AI makes videos based on any prompt you provide. It’ll even tailor it to your target audience for you. All you have to do is click export and upload. ⏩
Whether you’re looking to create elaborate videos or simply a 48-hour loop of Macaw noises, AI has made this business venture much easier for you to wrap your head around.
Pros:
Easy to make a video
Infinitely repeatable
Cost-effective
Streamlined steps
Cons:
Have to get a lot of views to get an impactful revenue
Still have to make a thumbnail for the video
Optimal success requires a marketing/brand strategy
AI Business Idea #6: AI-powered copywriting
If you’re trying your hand at copywriting, why don’t you streamline how you’re doing it?
Make it easier on yourself by looking into AI. With copywriting tools like ChatGPT, Jasper, and Wordtune, artificial intelligence can drastically speed up your process. ✍️
There are also AI copywriting tools specifically for social media like copy.ai.
Don’t believe us? YouTube user @Buildapreneur made a video talking about all the different AI tools he used to end up with a blog that made him $500 a day.
While you always want to add your own flavor and fact-check, AI tools can save you serious time. In fact, according to Forbes, it can save up to 40% of working hours for the average worker. 🧑💻
Pros:
Can boost existing talent
Save lots of time
Provides valuable insights
Can build a multifaceted company
Cons:
Still very hands-on
Risk plagiarism and research errors if you’re not careful
Can sound mechanical without editing
AI Business Idea #7: AI-powered ebooks
The Amazon KDP print-on-demand business model is a popular one. All you have to do is upload an ebook that you created, and it only prints once you make a sale. That takes away the arduous investment usually involved with book publishing. 📚
But to see real success with it, it’s a good idea to get into a niche. YouTube user @Buildapreneur details how he started selling AI-generated coloring books on Amazon KDP.
He suggests picking a niche with less than 1000 results on Amazon. He made a unique coloring book in less than an hour and already saw a sale 24 hours later. 🎨
It only takes 3 steps:
Use an AI art generator like Adobe’s Firefly to create the coloring book images.
Upload your images into Canva or Book Bolt to format them. These platforms have features that usually have predictive analytics and optimization features to ensure a high-quality deliverable.
Upload your finished ebook into Amazon KDP.
These steps also work when creating any ebook—whether it’s an e-learning guide or the next big book for entrepreneurs.
Pros:
Versatile and quick
Can produce some really unique deliverables
Can make a positive difference in the life of your buyer
Cons:
Requires some research to see real results
KDP market is noisy
Good AI art generators often require some upfront cost or familiarity with prompting
AI Business Idea #8: AI-powered pattern digital listings
On Etsy, you can sell digital paper patterns that the buyer will print out on their own. And, if you use an AI art generator, it does all that hard work for you. 🤯
YouTube user @Alek talks about how easy it was for him to create these listings on Etsy with just three steps:
First, he used the AI art generator Midjourney to make the pattern he wanted to sell.
Second, he used the Photoshop tool Photopea to make it look like a pattern.
Third, he uploaded that pattern to Etsy.
Now, all you have to do is sit back and wait for the sales to roll in. 💤Or, you can promote your digital listings on social media to grow your business faster.
Pros:
Pattern-making is relatively simple
No upfront costs
Can make a large and robust storefront easily
Cons:
Have to have an SEO-optimized listing
Have to know how to use Photoshop
Need the right listing
The market is heavily saturated
AI Business Idea #9: AI-powered logos
According to Forbes, “The right logo says everything without saying a word.” When logos are at the forefront of any business’s first impression, every business must have a strong one.
That’s why there are so many people who are willing to pay top dollar for someone to design their logo. 🖼️
YouTube user @Alek talks through how easy it is to start a logo-making business with an AI art generator like Midjourney at your disposal.
While it does require some manual Photoshop work to add text to the logo image (most AI art generators can’t generate letters), you can still get a rather fun image that is easy to make. Another thing to keep in mind is that mastering the art of writing the prompts for AI generation will take some time. ⏰
Then, you can offer your services in the freelance market or even set up an Etsy storefront.
Pros:
Simple, creative outlet
Can even be fun
Can generate a large profit margin
Cons:
Have to learn how to use Photoshop because often, art generators can’t generate English letters
Have to be familiar with using AI prompts
AI Business Idea #10: AI-powered video translation
There’s a large need in the market for translation. From HR departments to international marketing campaigns, there are a lot of companies that need help with their language services.
You can answer that call with AI. 📳
While it might be best to have a basic to intermediate understanding of the language you're trying to translate, you can automate much of the process with AI tools like Rask and voxqube. With all the different languages in their arsenal, they can translate and subtitle videos for you. 🧠 Then, you can review the output, make any edits needed, and send it off to your client—that's much faster than doing the whole process from scratch by yourself!
YouTube user @WebsiteLearners shows in his video how quick and easy it is to use these tools. So if you’re hoping to get a podcast on entrepreneurship out in 25 different languages, you can do it now – thanks to AI. 🙌
Pros:
Streamlined
Lets you focus on other things
Can make a large profit
Cheaper for your buyer
Can be used in tandem with AI-powered YouTube video production
Cons:
Need to fact check (can be hard if you don’t speak the language)
Can miss cultural cues
Video time limits for different AIs
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And is Taylor Swift's Eras Tour saving the economy? 🪩
FAQs about AI Business Ideas
Which industries are going to grow the most with AI?
There are lots of data-driven businesses on high growth whose approaches are being absolutely revolutionized by AI solutions. 💥 For example:
AI-powered predictive analytics for healthcare: AI can help with decision-making when it comes to diagnostics and approaches. 👩⚕️
AI-powered learning experiences: AI can make online learning platforms customized to each user’s strengths/weaknesses by keeping track of all the relevant datasets. 🧑🏫
AI-powered customer support chatbots: It’s relatively simple to code a customer support chatbot and they can ensure 24/7 customer service that you just can’t get with a human workforce. 🤳
AI-powered supply chain management: AI can help supply chain managers identify upcoming shortages and find alternative vendors/products quickly. 🚛
AI-powered home management: The best home energy and security systems are the ones you don’t have to manage. With AI, it can focus on safety and cost for you. 🔐
There are also some other surprising businesses expected to boom in this AI frenzy. For example, the agriculture business is likely to leverage AI to navigate crucial farming decisions and reduce human manual labor.
How profitable is an AI business?
According to the McKinsey Global Institute, “AI could increase corporate profits by $4.4 trillion a year.” They also estimated that it could boost annual workforce productivity by 0.6%. 🤑
There's a real opportunity to make a decent living from an AI business, whether your goal is to earn $10,000 per month or grow a multi-million dollar corporation.
Can AI run my business for me?
It’s easy for AI to run tedious manual tasks that humans don’t want to do. Or for AI robots to get in on jobs that might be dangerous for people to do. 🫣
But, at the end of the day, AI is not always flawless. It’s a learning model so, well, sometimes it’s still learning. If it learns from a biased source, that affects the output it gives you. Without human eyes in the business, it could be far too easy to let these kinds of mistakes fly free. 👀
What steps do I take to become an AI entrepreneur?
Anyone with grit and commitment has what it takes. 💪 Follow these seven steps to become an AI entrepreneur:
Analyze the market for missed opportunities.
Get up to date on the latest business trends.
Get to know your competitors – what other AI tools are out there?
Get to know your potential investors. Never miss a networking opportunity.
Be ruthless when it comes to selecting the talent to support you.
Decide how you want to generate revenue. Are competitors making more with tiered subscriptions? Do you want to stir up some buzz with a free trial?
Develop a strong marketing strategy to get the word out on the street.
That's it! You're on your way to becoming a successful AI business owner. 🥳
