The CEO believes that although any one get in at any time, now is the best time to start making money using AI tools.
As artificial intelligence tools become increasingly popular, individuals and organizations scramble to take a big bite of the AI pie. Today, the general outlook on AI is disruptive, with most projecting that the technology will create new use cases and be a wealth facilitator. According to the CEO of investment company RSE Ventures, AI will be the next big money maker.
Speaking to CNBC’s Make It, CEO Matt Higgins believes that AI could be a fantastic way to make money if people knew how to apply the technology. He believes AI can work for everyone regardless of background or access to opportunities. Higgins said:
“AI will be the greatest wealth creator in history, because artificial intelligence doesn’t care where you were born, whether you have money, whether you have a PhD. It’s going to destroy barriers that have prevented people from moving up the ladder, and pursuing their dream of economic freedom.”
Higgins’ position may not be surprising as most people seem very bullish about the opportunities obtainable from applying artificial intelligence. Since OpenAI launched ChatGPT last November, the technology has been trending at the individual and corporate levels, such that most big tech companies are developing or launching one AI tool or another.
According to a Precedence Research report, the global AI market was valued at $69.25 billion in 2022 and would likely hit 1.87 trillion by 2032, with a 39.1% compound annual growth rate (CAGR) from 2023 to 2032. Another forecast gives AI a 20.1% CAGR and a value of $1.39 trillion by 2029.
Experts Say Anyone Can Start Making Money Via AI
Higgins is not the only stakeholder who believes it’s possible to already start making money using AI. However, the Shark Tank guest shark and self-made millionaire believes that now is the best time to begin. According to him, “it’s not that if you don’t jump on it now, you never can. It’s that now is the greatest opportunity for you to capitalize on it.”
CEO and founder of AI startup AIandYou, Susan Gonzales, is also blowing the AI trumpet. Through her startup, which teaches AI skills to communities in need, Gonzales also says now is the best time for anyone to learn about the technology. Anyone, including students, artists, and freelancers, can apply AI to their jobs or studies to streamline their process and improve turnaround time.
In addition to freelancing, AI will help entrepreneurs with optimizing business operations. Gonzales says that small businesses can use AI to gather competitive intelligence, improve advertising and marketing, and find new ways to make money.
AI Regulation
As AI adoption increases, governments worldwide are concerned about its abilities. Last month, the European Union (EU) Parliament passed an act to manage and supervise AI development and usage in the area. The new act enforces a few specifics, including requiring companies to label all AI-generated content. The act would also restrict law enforcement from using AI tools to predict criminal behavior or conduct unauthorized surveillance. In addition, the act covers for close examination of any other AI uses considered high risk.
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