14 ways businesses and freelancers make money from Machine Learning and AI

Since creation, humans have been the only creatures allowed to think. Not anymore; now, machines think too!

And…surprise! They think better than humans. Artificial Intelligence (AI), the ability of machines to outthink an average human, is here, and it isn’t going anywhere.

You might have been fooled speaking to a soft-spoken, sweet-sounding, sensuous robot or chatted with a mechanical-sounding virtual bot, and were none the wiser.

That’s because technological colonization is here with us, the robots are taking over mate! Just kidding, but seriously look around you, AI seems to have pervaded your personal space, and it isn’t letting up.

You have a choice, to run for the hills, cringe in a dark cave and shake with fear, or throw all restraint in the air, have a luscious street carnival, and embrace our new colonizers.

That’s where I choose to be colonized, consciously, without coercion, because every technological advancement is an uberous ground abounding with raw opportunity.

How to profit from Machine Learning

Time to make some money! from robots, and of course, the question is how?

But first definitions;

Machine Learning (ML) a recent application of AI, is insidiously teaching cars to drive themselves, computers to write articles, and robots to perform complicated surgical procedures.

So what’s the difference between Machine Learning and AI?

Machine learning is defined as an application that enables systems to automatically learn and improve their capacity from experience without programming. It focuses on developing computer programs that can access data and use it to learn different things on their own.

Artificial Intelligence on the other hand is a sub-field of machine learning, which describes an application of the Internet of Things (IoT) in the automotive industry that mimics the cognitive functions of a human being associating with other human minds in things such as problem-solving, and learning.

AI is a programmed rule that regulates how the machine behaves in specific situations. It includes both deep learning and machine learning.

While Machine learning incorporates different classical algorithms for various tasks that include regression, clustering, or classification. Deep learning, on the other hand, combines neural networks that can solve classical as well as advanced tasks, including language generation and image recognition.

The future envisioned in Star Wars is here and it’s with ML & AI. Thankful robots haven’t gone to war with humanity, its simply another opportunity to take advantage of early lifecycle adoption.

But it’s not in every industry. Creative industries seeking consistent efficiency stand to benefit the most from machine learning, and that’s where you can start earning some passive income.

This could be the window you’ve been waiting for. You don’t have to go all in if you are unsure of the learning curve.

Based on your willingness to learn and grow and depending on how much time and effort you choose to put into cashing in, you could become an AI think leader or a CTO (Certified Technology Officer)

Machine learning and technology

Waves of ML/AI are already impacting various industries including Information Technology (IT), Financial Technology (FinTech), Healthcare Technology (HealthTech), Education Technology (EdTech), and others.

SEMrush predicts that by 2025, the worldwide market for artificial intelligence will be worth $190.61 billion. It’s predicted that this will raise the demand for skill sets specific to ML/AI. There has never been a better moment to start making money in machine learning. You can work with companies globally on intriguing technology initiatives, and your career options can scale new horizons.

Basic knowledge of technology and programming language can get you started with ML. For starters, you need to adopt a programming language, work with different frameworks, and learn how to write different codes to solve problems. But, at its core, you have AI as the backbone and ML as an application part.

Besides the technical know-how, reaching out to the right people is essential. You should therefore complement your machine-learning skills with consistent efforts to boost your online visibility.

You can invest in online marketing by creating a free e-commerce website, and registering yourself on freelancing platforms like Fiverr or Upwork. This will accelerate efforts on personal branding through social media.

Financial Wolves have done a great job in exploring some ways you can profit from machine learning, here they are:

1. Land gigs with FlexJobs

FlexJobs is one of the best freelance websites out there to land high-quality jobs from real companies.

The platform is open to both beginners and experts in machine learning. You can easily start interacting with clients to monetize your knowledge by working on freelance projects.

There are always credible companies out there looking to hire machine learning and artificial intelligence programmers.

And if you like working remotely, FlexJobs is a perfect choice as you’ll have ample opportunity to land a gig daily.

 

2. Become a freelancer or list your company to hire a team on Toptal

Toptal is similar to FlexJobs except that it’s suited for top freelancers. Top companies looking to hire freelance machine learning programmers go to the platform.

The hourly rates offered on the site are quite high so they only accept high-quality programmers.

If you are a freelancer, it’s not a guarantee you will qualify to join the Toptal platform. First, you’ll need to go through a rigorous set of testing and questions before you get approved.

And if you are a company looking to build a machine learning team, Toptal is an excellent spot for you. You can easily tap into some of the brightest minds in the world when it comes to artificial intelligence and machine learning.

3. Develop a Simple AI App

Developing an app can be another great way to make money with machine learning. You can create a subscription app, get it out there and let users pay to unlock some of its premium features.

Subscription apps can make at least 50% more money compared to other apps with different types of in-app purchases.

You can be creative by making it accessible via smartphones. This way, it will be more significant and reach more people as well.

In today’s age, the good news is that you can build, scale, and sell apps for money pretty easily.

Using a site like Flippa to list your app for sale can get you earning money right away.

4. Become an ML Educational Content Creator

Currently, very few individuals know about machine learning.

Why not become a Machine Learning tutor and sell your skills online?

You can earn money with machine learning online right now if you venture into educating the masses about machine learning and its benefits to them.

Make use of online teaching platforms like Udemy, Coursera, CodeAcademy etc to launch and sell your course.

Additionally, you can also create online course materials, or a YouTube channel to teach people about this latest exponential technology.

5. Create and Publish an Online ML Book

You can write and publish a book offering remarkable insights into the power of 3D printing, robotics, Artificial Intelligence, synthetic biology, networks, and sensors.

Make use of Kindle Direct Publishing, a platform that offers a free publishing service.

This could be a great online side hustle that can earn you a few bucks by selling a book that will impact businesses and individuals through machine learning.

6. Generate Vast Artificial Intelligence Data for Cash

Since machine learning can generate gigantic amounts of data, you can benefit from offering AI solutions to different companies.

AI systems work similarly to humans and have many sound and visual-related experiences. An AI system can learn different things and also get encouraged by dynamic data and videos.

Massive instructive research foundations can pay you vast sums of money for substantial information databases.

All you need is to be keen on issues of security, privacy, reliability, fairness, accountability, transparency, and data accuracy.

If you can offer that, then you will succeed in this business. This data can help businesses make better decisions.

7. Create a Product or A Service

Another way to make money with ML is to provide services and products online. You can build an AI Chabot by hiring an AI Chabot development company and make money from it.

You can emulate products such as Siri, Alexa, Google Home, and Bitsy which are doing pretty well, bringing AI experience to everyone.

8. Participate In ML Challenges

Another little-known way of earning money from ML is to participate in ML competitions, the winner’s prizes are always attractive.

If you are a guru or have accumulated a wealth of information on this topic, you can challenge yourself against other real-world machine learning experts in competitions.

There are various ML competitions in which you can participate including Kaggle, Innocentive, Tunedit, and Challenge.gov, and make some quick cash if you emerge the winner.

9. Create and License AI Machine Learning Tech

If you can create an AI tech and license it, you can earn by selling your rights to another person.

However, you must sign a contract as the licensor to allow another party, which is the licensee, to use, re-use, modify or re-sell it for cash, compensation, or consideration.

10. Offer Data to External Industry Players for Cash

Selling data to other players outside your organization or business can be another lucrative way of making money from machine learning.

Companies are seeking information on different things to improve their customer experience and to have a competitive advantage.

Therefore, you can look for and analyze various data, then offer this data to organizations for a fee. You can offer this up as a gig or freelance job.

Besides FlexJobs and Toptal, you can join SolidGigs to find jobs in artificial intelligence directly to your email inbox.

11. Make Money with Financial Apps and Predictive Analytics

If you constantly dabble in stocks and understand stock charts, you can apply Machine Learning to the stock market and make some bucks. Using machine learning you can decide which stock to buy and which to sell or which team will win in a match.

If you can make accurate predictions with a minimum benefit of the doubt, then you can sell your services to other gamblers and stock market participants.

Some financial instruments may be complex so first start with paper trading.

There are several (Application Programming Interfaces) APIs you can use as your data source.

You can become rich with HFT (high-frequency trading) and Financial Applications of Machine Learning. Sports betting (2-player games), horse and dog racing, and card games like poker are some of the options you could look into.

12. Leverage AI in a Business Startup

If you start or you own a business startup, then you can consider leveraging data that you collect to make informed choices and to give your business a competitive advantage.

You can collect data and metrics such as KissMetrics, Google Analytics, and more and use it to affect your bottom line.

Also, it can help you model the features of customers that convert or don’t, up-sell or cross-sell offers, etc.

In the process, you will make an informed decision or even make better future predictions.

13. Increase Your Business Sales with AI Social Media Functionalities

Social media platforms are great channels that can help boost your business. One thing you might not have known is that these platforms use machine learning to understand user experience.

AI helps to personalize customers’ news feeds and does a better job at ad targeting.

Moreover, machine learning understands your Facebook experience, and notes your interests, work, and the kind of target market you can connect to. As a result, it can suggest the actions you should take.
The Pinterest platform for example uses computer vision to recognize the objects or pins that are in the pictures and can recommend similar pins accordingly.

Machine Learning is a crucial element of computer vision, the technique helps extract helpful information from videos and images.

14. Sell Artificial Intelligence Devices

Selling GPS devices to car users is another lucrative venture you can try. GPS navigation services can help make traffic predictions which will help motorists cut costs by taking an alternative route to commute.

Most companies are now using CCTV to curb crimes in their workplace.
You can take advantage of this booming demand and sell them video surveillance devices.

And that’s it folks, but the truth is, despite the best effort to condense these opportunities into a do-it-yourself list, not everyone will cash in.

 

This article was first published Here: How to make money from Machine Learning and AI

 

 

Sources:

https://financialwolves.com/make-money-with-machine-learning/

https://www.ibm.com/topics/artificial-intelligence

https://radicalbit.medium.com/top-7-ai-and-machine-learning-trends-to-watch-in-2022-beb6c31b31f