.svg)
Latest Business News
The Role of Artificial Intelligence in Side Hustles: Saving Time and Making Money
Travel agents
For travel agents like Nicole Cueto, AI tools such as ChatGPT have been a game-changer. Cueto, who plans vacations for clients, uses AI to quickly research and generate personalized itineraries. While she still fact-checks and verifies information, Cueto finds that using AI cuts her research time in half, allowing her to take on more clients and increase her earnings.
Content assistants
AI-generated content has created a new opportunity for side hustles as AI content assistants. These individuals use chatbots to generate blog posts, newsletters, and social media content, which they then fact-check and refine. The pay for these roles can range from $20 to $100 per hour, and the demand for AI content assistants has been increasing on freelance platforms like Upwork.
Artists
Artists, such as photographers like Sean Audet, have found that AI can be a valuable tool for streamlining their side hustles. Audet uses AI to craft emails and business templates, saving him time and allowing him to focus on other aspects of his work. While the impact on his business is currently relatively low, Audet believes that as AI technology improves, his skills in utilizing AI will pay off more lucratively in the long term.
Conclusion
Artificial intelligence is already playing a significant role in making side hustles easier and more lucrative. By saving time and automating certain tasks, AI tools like ChatGPT are enabling individuals to take on more clients, increase their earnings, and pursue their passions. As AI technology continues to evolve, the opportunities for side hustles and the potential for financial success will only continue to grow.
Hot Take: Embracing AI for Side Hustles is Essential for New Businesses
The impact of artificial intelligence on side hustles cannot be underestimated, especially for new businesses. By utilizing AI tools and technologies to streamline tasks and save time, entrepreneurs can effectively manage their ventures and maximize their profits. Here's why embracing AI is essential for new businesses:
1. Efficiency and productivity:
AI tools such as ChatGPT allow entrepreneurs to automate research, content generation, and other time-consuming tasks. This increased efficiency and productivity enable business owners to focus on core aspects of their operations and take on more clients or projects, leading to accelerated growth and increased earnings.
2. Cost-effective solutions:
AI-powered content assistants can provide high-quality blog posts, newsletters, and social media content at a fraction of the cost compared to hiring full-time writers or marketing professionals. This cost-effectiveness allows new businesses with limited budgets to enhance their online presence and reach a wider audience without compromising on quality.
3. Competitive advantage:
Adopting AI as part of the business strategy can provide a competitive edge. Businesses that leverage AI tools early on can position themselves as innovative and forward-thinking in their respective industries. This differentiation can attract more clients and investors, propelling the growth of the new business.
4. Future scalability:
As AI technology continues to advance, the potential for new business opportunities will expand significantly. Early adopters who are familiar with AI and its applications will be well-prepared to leverage future advancements, leading to sustained growth and long-term success.
In conclusion, taking advantage of AI tools and technologies is crucial for new businesses exploring side hustles. The efficiency, cost-effectiveness, competitive advantage, and future scalability that AI offers can help budding entrepreneurs navigate the challenges of starting a new venture and pave the way for sustainable growth and profitability. Stay ahead of the curve by embracing AI and harness its power to make your new business thrive. Article First Published at: https://www.cnbc.com/2023/07/29/how-ai-can-make-common-side-hustles-more-lucrative.html
