The Best Way to Get Rich With A.I

There are three core components that really need to be understood in order to not be left behind when it comes to AI. Firstly, there's the AI Revolution. Secondly, we need to discuss how it's actually going to affect the real world. Thirdly, we need to understand how to actually make money with AI. Now here's the thing, if we look back through history, every single turning point has improved on what was already there. For example,the plow has simply made farming easier, the printing press has made information more easily accessible and the effects of that are huge but it didn't change the information itself and even the internet simply allowed brick and mortar businesses to expand to anyone with an internet connection. But how is AI different?

For the first time in history, AI has productized something that is usually unique to humans and that's a skill. One thing most people don't actually quite understand is that AI has been around for many many many years, it's just that we're starting to hear about it now or to be more accurate we've really been hearing about it since the 30th of November 2022 and that's because with tools like ChatGPT, access to AI has now been democratized and that's a really big change because now anyone can use AI to their advantage or their detriment depending on their skill level and whether they know how to navigate and how to use it now. ChatGPT can basically do just about any task and that's already very impressive but what you really need to keep in mind here is AI's rate of advancement.

In Tech, there's a law known as Moore's Law and this law states that the number of transistors on a microchip will double every two years or simply put, computer power grows exponentially. If you pair text exponential rate of growth along with AI models that are able to learn by themselves then the opportunities are really limitless but as it currently stands ChatGPT's biggest limit isn't actually the technology or the learning models itself, it's our ability to ask it questions. In other words, at the moment we're pretty much the biggest bottleneck. One other very big question, especially depending on how conspiratorial you want to get is how AI is actually going to be governed because there's no doubt that AI presents tremendous opportunities as well as tremendous challenges. That is to say, some of the world's most prominent leaders have long warned of the dangers of AI and the CEO of ChatGPT's Open AI even said himself that some robots will kill some humans.

Now they have a little bit of understanding, for those that maybe didn't understand what this is or where it came from. Let's talk about real world application. It's really important to separate the short-term effects with the long-term effects because the matter of fact is we don't know where AI is going to be in 10 years maybe it kills humans maybe it doesn't so rather than speculating which I personally never like to do with technology because some people have a vision that by 2035 we're all going to be in flying cars and there's going to be chips implanted in all our brains and stuff like that I just think these things are too hard to predict so instead I prefer to analyze the short-term future. So to that point, will everything crash and burn? No. Will some people be replaced? Absolutely. Are there things you can do in order to make sure that you do not get replaced or become obsolete? A hundred percent. Quite frankly if you know how to use AI in the right way you actually have an opportunity to make yourself more valuable than ever before. But we do need to pose a question, who will be replaced by AI? Now it's funny because a few years ago everyone thought that once robots and AI went mainstream, physical labor would be the first on the chopping block, then once they were replaced AI would then come for more white collar jobs and then eventually at some point would take over the creative industry. As it turns out, it seems as though that order has actually been flipped on its head. I mean what previously seemed inconceivable is now happening in real time. AI is actually beating humans and what was thought to be most human creativity. Just a few months ago, we saw an AI win a fine arts competition against other humans and there are a ton of AI companies sprouting up all over the place trying to emulate the works of doctors and lawyers though once again we don't know how long it will take but eventually it'll probably succeed. Giving it a thought, would you be more prone to trust an AI doctor that analyzes millions of patient records and has access to all medical literature or just some guy who graduated med school before you were even born and when things in the medical industry were very very different to what it is today? So if AI is able to diagnose all of our ailments, it will also be able to find out what makes us tick. I mean most people are already addicted to a simple algorithm on TikTok.

Now imagine when AI is able to tailor everything you see not just for you but specifically made to your liking. Theoretically AI could create the perfect show for you. It could create the perfect ad, it could create the perfect game, it could create anything specific tailored to you to reel you in now. What does this mean for the rest of the workforce? I am not going to sugarcoat things. A lot of people will be let go and a lot of people will be replaced but quite frankly, this is going to happen anyway.

Just look around you, look at the mass layoffs especially in tech companies. When a guy like Elon walks into headquarters one day and realizes half of the guys don't do anything so this trimming of the fat is gonna happen regardless but AI has sped things up and has made even more positions obsolete or unnecessary. Whether you're an employee or an entrepreneur, what's going to separate those that get it and those that don't is really your speed of adaptation. A very similar thing happened between 2005 and 2010 when it came to people's speed of adaptation to the internet and social media, now tons of jobs will simply be made redundant. You can either sit back and watch AI take over your job or you can use AI to make yourself more valuable. What I actually mean is you see with AI, you have all the knowledge and baseline of skill in the palm of your hand and in the same way AI can take your job, you can also use it to make yourself better at your job.

With all of that being said, one question still remains, how can you use AI to take advantage and make more money? Whenever an opportunity vanishes because of a technological advancement another opportunity emerges but they don't last forever which is why you need to capitalize on the opportunities while they persist. Now when we're talking about implementing AI into your business, what we're really talking about here is

leverage. Leverage is the ability to increase your output without straining your own required input.

What's really insane about AI is that it's essentially a newly free way of getting unlimited leverage because previously you'd need to hire someone in order to get that leverage but now anyone has that leverage. I’ll tell you three ways you can use AI to make more money.

Agency: If you run an agency, it's obvious that AI will be able to help you with all sorts of forms of communication. For example you spend two hours a day writing emails but with AI, they can be written for you and you really just need to validate them and just like that you spend a fraction of your time on emails and over the space of a month this can be dozens of hours saved and this hours that you can spend working on your business rather than in your business and that's really just the most surface level use of AI. The key here really is that AI allows you to work on your business which is something that you only had the luxury of doing before if you had employees. Digging a Little Deeper here, let's say for example you run a paid traffic agency you can now use tools like Jasper to write all of your ad copy and all you need to do is test and validate. The use of AI extends way beyond just writing tasks, there are now softwares that can generate product photos for you as well as any other images you need and this streamlines the entire process. In order words, something that previously needed a whole team of people and many days of work can now be done in just simply a few hours.

Content Creation: If you are a content creator or a copywriter, AI essentially gives you access to an unlimited number of ideas. No more creative blocks, you have everything you need to start the process. I mean if you are a writer you can use AI to build out the skeleton and the framework and then you can simply fill in the blanks and that means if you can only handle about 10 clients before now you can probably handle 20 clients because you are using the power of AI thereby helping you really get halfway. There’ll be no more ideation sessions. All that is needed is to just pick an idea and execute on it. There’s really no excuse not to come up with something new. You are merely bound by your ability to ask questions. If we look back in history and analyze the greatest thinkers, what separated them from everyone else was really their ability to ask the right questions at the right time and AI doesn't take that ability from anyone all it does is help people get more interesting answers and there are tons of AI software's coming out that will affect all areas of content creation. Adobe just released their AI which allows you to edit photos by typing directions and it's only a matter of time before the same softwares will exist for video editing and that means that anyone can edit photos in a way that previously only a handful of people could and that's all because the skill has been productized. Though you might be wondering why doesn't everyone use these tools if it's so easy, well even though we have new access to information and a new skill fundamentally humans are still the same and that means we're just lazy. we're lazy, we're comfortable and even though the internet wasn't enough, we now have this thing called AI that we can use to build businesses to make money and we can use it in unison with our ability. Most people just simply won't do it because they're too lazy, they're stuck in their ways.

Consultancy/ Coaching: If you're a consultant of any sort, AI can become your best friend. Microsoft just launched an AI that complements their Suite of products called Copilot. Its workflow is a little something like this; if you are meeting with a client, the AI will transcribe notes and even give you a summary of the key points and action items needed to make a presentation. The AI will create PowerPoints based on the action points and can even tailor the presentation to your client's branding. If you need to do an Excel analysis, the AI will do that for you too. All of these things are things that used to take a couple of hours or of days to complete and now you can do it in minutes and the effects of that is almost incalculable and this is a golden window of opportunity for you to use before everyone else catches on and the best part is, tools like this will become more prevalent. You might be wondering where this leaves you in the equation; this leaves you in a situation where the most important thing you need to do is foster relationships. If you think about it all of these big executives and all of these people, at the end of the day that's what they do. The best business owners make a handful of strategic decisions, maintain and grow relationships, that means that it's time to capitalize on your uniquely human qualities and use the leverage that AI has afforded to you.

You have a golden opportunity in front of you and it's your choice whether you want to seize it or whether you want to be decimated by it. That is your decision to make but I remind you, we are in an incredible period in the world where literally anyone can use leverage and basically have employees in the form of AI for free with a barrier to entry. To start a business or even just a side gig or a side hustle is so low and the only thing that's left in the equation is how serious you are.