For those of you who haven’t heard the buzz around ChatGPT, it is the AI software that is starting a revolution.
Many are saying it will eventually replace Google.
Some are calling it the most disruptive and exciting best new way to make more money in less time in 2023.
Others are saying it will replace a lot of jobs - could yours be at risk?
Some people have already capitalised on this new AI software craze, so let’s deep dive into how you can use ChatGPT to make money.
What is ChatGPT?
ChatGPT is an AI software created by the business OpenAI.
It has been trained to interact with its users in a conversational way.
As a language model, ChatGPT is designed to generate human-like text responses to questions or tasks given.
It can understand and produce natural language responses in a wide variety of domains and contexts, making it a versatile tool for applications such as chatbots, question-answering systems, and text-based virtual assistants.
All you have to do is type a question or task into the search box and it will scribe its answer to you.
The dialogue format makes it possible for ChatGPT to answer followup questions, admit its mistakes, challenge incorrect premises, and reject inappropriate requests.
For example you can ask it to write a report for you, it will fix a line of code for you and a lot more.
While the software is being updated and learning all of the time, its capabilities have blown users away. Meaning they are completing tasks and saving time.
How can ChatGPT replace jobs?
As a language model, ChatGPT is designed to automate tasks that involve generating language text, such as answering questions, writing summaries, or providing customer service.
Because of this, it has the potential to replace certain types of jobs that require these skills, particularly in industries like customer support and content creation.
However, it's important to note that the impact of ChatGPT on jobs is not necessarily straightforward. While the technology may replace some roles, it may also create new opportunities for work that require expertise in training, fine-tuning, and using language models like ChatGPT.
For now, language models like ChatGPT are not advanced enough to completely replace human workers in all domains, especially those that require emotional intelligence, creativity, and critical thinking skills.
Instead, these models are more likely to complement and enhance human workers, enabling them to be more productive and efficient in their jobs.
Overall, the impact of ChatGPT on jobs is likely to be complex and multifaceted, with both opportunities and challenges for workers and industries alike.
How can ChatGPT be used to help businesses save and make money?
1. Chatbots for customer support: ChatGPT can be used to create chatbots that can answer customer questions and provide support in a variety of industries, such as e-commerce, travel, and IT services. These chatbots can help reduce the need for human customer support agents, potentially saving companies money on staffing costs.
2. Content creation: ChatGPT can be used to generate content for websites, social media, and other digital platforms. This can include blog posts, product descriptions, and even entire news articles. Companies can use this content to attract and engage audiences, potentially leading to increased website traffic and sales.
3. Personalised recommendations: ChatGPT can be used to create personalised recommendations for products, services, and content. This can help companies improve customer engagement and increase sales by tailoring their offerings to individual customers.
4. Language translation: ChatGPT can be used to provide real-time language translation services, enabling businesses to communicate with customers and clients around the world. This can help facilitate international trade and expand business opportunities.
5. Research and analysis: ChatGPT can be used to analyse and summarise large amounts of text data, such as research papers, legal documents, and social media posts. Companies can use this analysis to gain insights into customer preferences, market trends, and other valuable information.
How can ChatGPT be used to help people make money?
In a world where everyone now needs to have a side hustle to not only survive, but thrive, this topic has EXPLODED.
On platforms such as YouTube and TikTok influencers and content creators are praising the AI software as the next “big thing” to create a new income stream.
Here are a few ways influencers are shouting about and don’t want to gatekeep from you.
Companies to invest in:
Some are saying that you can use ChatGPT to help you earn money in the 2023 recession by asking which companies historically have performed well during inflationary recession periods.
To which it has replied with reasons as to why some companies will outlast others during inflationary periods and recessions, as well as listing different industries such as healthcare, defence, utilities, consumer staples and more.
Because of the natural language technology, you can then ask for specific companies that match these principles, giving results such as Johnson & Johnson, Procter & Gamble, Nestle, Unilever and more. Companies that have historically weathered well in recessions.
You can also ask ChatGPT to make a balanced portfolio of these exact companies, giving you a more specific investment plan - all which should be done so at your own financial risk.
Write children’s books:
A news story broke about a man, Ammaar Reshi who used ChatGPT to write and Midjourney (an illustration AI software) to illustrate a children’s book in 72 hours.
He self published his book on Amazon's digital bookstore. The following day, he had the paperback in his hands, made for free via another Amazon service called KDP.
While this story went viral due to the backlash Ammaar received from artists who claim Midjourney AI has stolen their designs, many entrepreneurs praised Ammaar for taking the initiative to create a new income stream in a matter of hours.
Create content strategy plans:
If you are already a marketing freelancer or want to get into this space, then ChatGPT could be the difference between you scraping by and making THOUSANDS, all while saving you time.
You can use ChatGPT to make specific marketing and content strategy plans for your clients in a fraction of the time it would take you to do it yourself. Or you can make plans specific to certain industries, company size etc and approach companies to sell them.
Create specific meal, diet and exercise plans:
You might already be working in the health and fitness industry, or be looking to break into this space.
ChatGPT can be used to create specific daily and weekly meal and diet plans. For example, you can ask it to write “1,500 calories, 3 meals per day, keto meal plan”. It will detail all of the calories and macros that someone needs to know when being on a strict diet.
Similarly you can do this for people with specific dietary restrictions such as veganism or coeliac disease.
The AI software can also be used to create specific exercise plans to target certain areas of the body. For example you can ask it to write “a weekly exercise plan to build glute muscles” and it will give you the day by day breakdown of sets and reps, including how many minutes should be spent on warm up, cool down and stretching.
You can then sell these on your e-commerce store or via your social media platforms.
Create your own software:
If you have an idea for an app, or specific software that you envision could solve a problem or meet a need for many people then you can ask ChatGPT how to create it and it will generate the specific code for you.
Become a tutor/help with homework:
You can become an online tutor to children, teenagers and even college students with the help of ChatGPT.
Use ChatGPT to write essays, reports, do calculations and a lot more. You can be specific with the age range or grade level you need the work written for so that it is tailored to the student.
You can then charge a fee for this work.
These are just some of the many ways that ChatGPT can help you make money in 2023.
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