AI can play a vital role in the revenue generation. If we are clever enough to use this technology, we will be able to generate some passive income by letting AI do the work for us and enjoy the profits we will be generating with the help of AI. Apart from using AI, machine learning also plays a very important role. We have to let it learn based on the user data and finally extract what is best for the business and proceed accordingly. In this article, we are going to see some basic ways in which AI can be helpful and how we can generate some passive income with the help of AI.
Content creation
Even though this is considered to be not acceptable by many people, many content creation companies have started to use AI for generating their contents on their websites and blogs. Now there are many tools available that can create content with a few short keywords or summaries of what we want. These AI tools are available for free as well as a cost. Creating such tools is one option for passive income or creating content with such tools is another option for passive income.
Online courses
Online courses is always one of the best methods to earn some passive income. Even without the AI element, if we are good we can earn a good amount of passive income by selling online courses. If we can attract people with our materials and knowledge sharing, this can be a good revenue source. With the help of AI, we can create many additional elements to this and also make our course more attractive and useful. Based on the feedback given by the consumers, there can be improvements made.
AI in E-commerce business
AI plays a very important role in e-commerce business. Many websites have now started using AI to increase their sales on the website. The biggest advantage that AI gives us is gathering customer data and showing products that are suitable for the customers or the ones that attract them. Today the intention of the customer would have been to just buy a shaving cream. But based on the past purchase history or browsing history of the customer, if we show the right recommendation, the user might be interesting to purchase a few more things along with just a shaving cream.
Automated portfolio management
Today AI has entered the trading business where they are able to contribute to market research and analysis. Some predictions by AI algorithms are very good. Apart from being it for trading, AI can be used for managing the portfolio, in general, to identify which stocks need attention right now and which are doing good or badly. It can either manage the portfolio by itself or just send notifications to the owner.
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