Can ChatGPT Earn You Money?

Artificial Intelligence has become one of the most popular topics among the younger public in recent months. It is no longer just a buzzword in the tech industry, but a reality that is transforming the way we live and work. With the rise of AI-powered devices and software, people have started to realize the potential of this technology to make their lives easier and more efficient. One of the most exciting developments in this area is the use of AI to earn money. From chatbots to investment algorithms, AI is being used in a variety of ways to generate income for businesses and individuals alike. In this article, we will explore how AI can be used to make money; and share our experience using ChatGPT to generate business ideas, investment opportunities and more.  

Traditionally, this type of Artificial Intelligence has been used to automate tasks and increase productivity on an industrial scale. For instance, machine learning algorithms can analyse large datasets to identify patterns and insights, helping large companies make informed decisions about pricing, marketing, and customer service. But in this article, we are going to discuss the ways in which you could make money yourself, from your bed, with nothing but a computer and a couple of ChatGPT prompts. 

We asked ChatGPT to generate a precise step-by-step guide to dropshipping, which is a way of providing goods by direct delivery from the manufacturer to the retailer or customer. Although AI can be used to predict the directions of share values, or crypto-currency values, this is one of the most popular and effortless ways in which young people can make money. The AI came out with detailed bullet points listing the risks of dropshipping -such as less control over order fulfilment, free websites to use and useful tips- like choosing only a few trusted products. 

However, is this really everything you need to “earn $1000 or more a day” with AI (according to analyticsvidhya.com – https://tinyurl.com/4a8pducj)? Surely anyone can produce a business idea and make it last for a couple of months? Sam Privett, a teacher at The Beacon School in Amersham, states that “Business plans, to be honest, […] are only as good as the execution.” A staggering 60% of businesses fail in the first three years, according to The Telegraph, because after an initial idea, the owners have no idea what to do next. While ChatGPT outlines the first couple of months in its plan, it never takes you further than a year. Additionally, many ethical and moral problems have been raised, for example, many think that by using AI to do all the work for you, it takes away any sense of achievement. 

Furthermore, what is stopping everyone always following the same business plan that ChatGPT will always more or less come out with? You might just end up with thousands of businesses just selling dog shampoo. Dr Gavin Lockley says, “just because it [AI] accesses the whole system, I still think human thought is more valuable.” Mark Walker also agrees, “ChatGPT just replies with what you input” – so this means it will come out with the same idea for everyone.  

So, if you were hoping for an easy “$1000” a day while staying in one room, AI just isn’t unique enough to do that yet. You could go down the investment route, but this requires a lot of work on your end. While it’s certain that ChatGPT can give you a business idea, it’s not so certain that it could earn you money or last you more than a year. Right now, in 2023, you’re better off getting a professional consultant to help you with your business. 

By Milan A and Eddie A