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11 ways ChatGPT and other AI tools can be used to earn thousands with side hustles

Larry Lundstrom
Arkansas pastor Larry Lundstrom uses AI tools like ChatGPT to earn thousands a week making pitch decks.Larry Lundstrom
  • From chatbots like ChatGPT to image tools like Midjourney, generative AI is spurring new ways to make money.

  • Freelancers are using these tools to be more productive, take side hustles, and boost their income.

  • We rounded up a list of 11 generative AI gigs helping people earn thousands.

Generative AI technologies are helping entrepreneurial people find new ways to make money.

Workers are turning to everything from chatbots to image generators to get through time-consuming tasks — whether that's fine-tuning legal documents or outsourcing administrative work. These tools are also lowering the barrier for highly skilled work and paving the way for more people to cash in on jobs involving writing, coding, or design.

In short, generative AI has launched a gold mine of new side hustles. And by 2030, Morgan Stanley estimates that AI tools could help workers earn more than $83 billion from multiple income streams

Business Insider rounded up a few easy, fun, and lucrative side hustles people are taking on to amp up their income.

People are utilizing AI tools to make pitch decks to convince investors to put money into their ideas.

Larry Lundstrom
Larry Lundstrom, a pastor based in Arkansas, makes two to three pitch decks a week, charging between $500 to $1,000 each.Larry Lundstrom

Pitch decks often take the form of a series of slides that combine facts about a company with an overarching narrative.

Scroll through a site like Upwork, and you'll see hundreds of listings from companies looking for someone to make them a winning pitch deck.

With technology like ChatGPT, OpenAI's text-generating chatbot, and Tome, an AI-powered storytelling tool, freelancers can churn out multiple pitch decks a week. 

Larry Lundstrom, a pastor based in Arkansas, told BI he makes two to three pitch decks a week using generative AI tools and charges anywhere between $500 to $1,000 per deck. AI tools have helped Lundstrom cut his turnaround time in half, he previously told Insider.

Between ChatGPT's capacity to churn out clear and simple text, and AI art generators like Midjourney and DALL-E 2, publishing children's books has never been easier.

Ammaar Reshi with AI generated children's book Alice and Sparkle
Ammaar Reshi with AI generated children's book Alice and SparkleAmmaar Reshi

Ammaar Reshi, who works as a product design manager at the financial tech company Brex, used ChatGPT and Midjourney to write and illustrate a children's book titled Alice and Sparkle in 72 hours.

The book is available on Amazon, Barnes and Noble, and Walmart. Reshi told Insider he's already sold over 1,300 copies since Alice and Sparkle went on sale in December and has generated $2,600 so far, noting that Amazon takes a significant cut of the royalties.

Meagan Loyst, the founder of an online community of young investors called Gen Z VCs, used ChatGPT and DALL-E 2 to self-publish a children's book in less than two hours. 

Her book "Show Me What AI Can Do!" is available on Amazon for $2.99.

AI tools are making it easier to overdub videos in other languages, which is a pretty lucrative freelance gig.

MrBeast
Content creators like MrBeast spend a lot of money on dubbing their videos into other languages.Steve Granitz/Getty Images

Streaming companies like Netflix and content creators on YouTube and TikTok spend hefty sums on voice dubbers, who help them translate their content into more languages and reach a global audience.

But AI tools are making it easier to outsource that task to freelancers.

When YouTuber Kris McCauley wanted to launch a translation of his videos to Spanish, he initially turned to translations.com, a go-to among YouTubers, he said in a video. But the company quoted him $4,000 for dubbing 100 minutes of footage.

Then he came across Nova A.I., a software that can translate and add subtitles to videos. Nova A.I.'s "Pro" plan — priced at $18 a month — allows users to translate 300 minutes of footage into 75 different languages, according to its site.

McCauley mentioned he's saving hundreds of dollars with this new approach — though he's still relying on external dubbers as well. And he noted that an enterprising freelancer could easily turn dubbing into a profitable side hustle with a tool like Nova A.I.

ChatGPT can be a great tool for helping freelance writers or journalists write stories.

writing
Henry Williams, a freelance writer based in London, used ChatGPT to generate an article that he would have charged at least $615 to write.katleho Seisa/Getty Images

Henry Williams, a freelance writer based in London, used the bot to generate a marketing article. To his "horror," he said ChatGPT put together a 600-word article in less than 30 seconds.

Williams noted that the bot's tone was inhuman and the structure wasn't particularly sophisticated, but the "key points, the grammar, and the syntax were all spot on."

After a few tweaks, he said it was something he would have charged at least $615 to write.

Resume writing turns into an easy, money-making side hustle when most of the work is outsourced to ChatGPT.

resume
Resume writing can be a quick and money-making side hustle with ChatGPT.Narisara Nami/Getty Images

"ChatGPT can write better cover letters and résumés than almost any person," said Brianne Kimmel, a venture capitalist who founded the firm Worklife Ventures.

As the only general partner at what Kimmel calls a "lean firm," Kimmel said that she and her team work with a lot of freelancers, and she pointed to freelancer platforms like Upwork, where résumé writers are charging anywhere between $25 to $65 an hour for their services.

"I'm really excited about AI because I feel like finally there's this new technology that really helps anyone learn a new skill quickly," she said. "And then there's new technologies where people can actually monetize those skills."

Aspiring filmmakers with busy day jobs are finding it easier to pursue their passions with generative AI tools.

Animation
Generative AI tools are helping people put together movie pitches and animated shorts.Maryna Terletska/Getty Images

 

Jordan Poblete, a corporate strategist with a penchant for movie-making, is using ChatGPT and Dall-E 2 to put together a pitch for an independent movie.

"Our particular fim includes magical realism or aspects of magical realism that can't be created in a real world," he said, adding that Dall-E 2 has been especially helpful in achieving the right feel.

Poblete said he plans to pitch the movie to producers later this month. Though he said he's not sure exactly how much money the movie might generate, he's certainly hoping for a hit.

Reshi used ChatGPT, MidJourney, among other AI tools to make an animated short within six hours. Since it was uploaded to Twitter last month, the video has already amassed more than 7 million views.

 

While Reshi told Insider he doesn't have plans to launch into animated shorts right now, he said, "If there's an idea that's inspiring enough that is worth monetizing (and I manage to find more time after my day job haha) then definitely!"

Tools like ChatGPT and GPT-4 have made it significantly easier to code via natural language.

Male hacker coding.
AI has made coding easier for people who aren't super-familiar with complicated programming languages.GettyImages/ Hero Images

That opens up a host of lucrative side hustles for people who don't have direct experience coding in languages like JavaScript or Python.

Ammaar Reshi, who wrote a children's book with ChatGPT, also managed to code two computer games almost entirely with GPT-4.

 

Reshi said he would type a prompt into GPT-4 like "Add a high-score label that tracks the amount you've eaten" and GPT-4 would provide the requisite line of code in JavaScript.

Reshi admitted that, at least for now, GPT-4 doesn't generate the most flawless code. However, he does think the tool will make it easier for novice programmers to build out their ideas — and earn money for them.

Generative AI tools like Midjourney, Dall-E 2, and Tome have been game-changers in the world of graphic design.

Robot painting picture
AI also has helped lend a "professional" look to amateur graphic designs.OpenAI

Aspiring graphic designers and seasoned ones alike are now using these tools to quickly generate images for presentations, pitches, and marketing campaigns.

For those looking for help getting started, Worklife Venture's Kimmel had a suggestion:

"You can go on Upwork and bid on graphic design jobs. Then use DALL-E 2 to generate the original graphics."

Kimmel added graphic designers and logo designers can make hundreds or thousands of dollars per job this way.

For anyone who has a side hustle creating content, whether it's for a blog or social media, ChatGPT can be great for inspiration or even a second opinion.

Chase Dimond
Entrepreneur Chase Dimond uses ChatGPT for inspiration for his social media posts.Chase Dimond

Chase Dimond, an entrepreneur who earns seven figures through multiple income streams, uses ChatGPT to find inspiration for his social media posts. And Dimond, who has 100,000 followers on Twitter, almost 180,000 followers on LinkedIn, and 10,000 on YouTube, counts on his social media brand as one of his six income streams.

Samantha North, a blogger who made $115,000 running two websites last year, said she uses ChatGPT to generate themes and ideas on topics or write introductions for her blog posts. AI has helped her to create more content without the need to bring on an additional employee or outsource work to other freelancers, she said.

Creatives are using a slate of AI-tools to generate new music — and even earn royalties.

Grimes plays keyboard on a stage
Creators can earn royalties from AI-renditions of Grimes' voice with her new AI voice software, Elf.Tech.Astrid Stawiarz/Getty Images

And oftentimes it doesn't take more than a simple text prompt to get started. With Google's MusicLM, for example, users can generate music from text and images. Similarly, Meta's open-source MusicGen can create about 15 seconds of audio based on a simple text description.

Successful musical artists have also launched tools for creators to earn royalties off of their voice. The musician Grimes unveiled a new AI voice software called Elf.Tech that lets creators upload AI-renditions of her own voice and take a 50% cut of the royalties, according to Pitchfork. The experimental musician Holly Herndon also released a tool called Holly+ that lets artists create new music with an AI-likeness of her voice.

And the exciting (or unnerving) thing is that AI-generated hits are going viral — and offering the prospect of even more income. "It's honestly kind of scary how easy these things are to do," said Jered Chavez, the creator of popular AI-generated songs including a viral hit of Drake, Kendrick Lamar, and Ye singing the anime theme song "Fukashigi no Karte."

 

Earn money by building customized versions of ChatGPT and sharing them on OpenAI's new GPT Store.

HaikuGPT
HaikuGPT is one of the third party chatbots on the GPT Store.Screenshot from GPT Store

Anyone who subscribes to ChatGPT Plus can build a custom chatbot — which OpenAI calls "GPTs" — and share it on the GPT Store. Builders will be paid based on user engagement with their GPTs, but OpenAI has not disclosed further specifics.

And you don't need any technical expertise or coding skills to build a GPT. Users essentially prompt ChatGPT with instructions on what they want their GPT to look like, and its ChatGPT will configure a new chatbot. Business Insider's Aaron Mok managed to build a GPT in 15 minutes with pretty satisfactory results.

So far, more than 3 million GPTs have been created, according to OpenAI. They range from chatbots that analyze your horoscope to bots that help students with homework to ones that only respond in haikus.

 

 

Read the original article on Business Insider