Now, let’s discuss how to start an AI business or adopt AI in your existing business. We will discuss the top 15 AI business ideas for you.
1. Personalized Health Monitoring
We have seen drastic paradigm shifts in the healthcare industry post-Covid-19. AI can help in making it more efficient and productive. For example, you can develop wearable devices that monitor health vitals and predict possible health conditions before they become severe.
You can establish high-end machine-learning algorithms that help patients get real-time health updates and insights.
You can offer your users a subscription-based model and partner with healthcare providers for monetization. However, you must work hard on data security, R&D costs, and regulatory issues.
2. Energy-Oriented Business
Sustainable energy is a new buzzword, and the world knows its importance now. You can develop a high-quality system that regulates energy consumption efficiently with AI. For example, you can create an intelligent grid that monitors usage patterns or a home system that can regulate energy consumption without human intervention.
You can get software subscriptions and partner with utility companies for monetization. Sometimes, you can also get government grants to develop AI tools that help build sustainable energy resources.
However, you must work on infrastructure requirements, technological limitations, and consumer adoption rates.
3. Cybersecurity
Cybersecurity is another concern that is hard to deal with. Frequently, you come across various data breaches and hacks. An AI-based cybersecurity can be a highly valuable asset for any company or business to meet such data theft challenges.
AI-based cybersecurity tools can have ML algorithms to identify and address cyber threats in real-time. They can protect businesses against such data hacks and safeguard sensitive information.
You can charge a minimum fee from companies to use the software developed by you.
4. Logistic and Supply-Chain
Developing AI software or tools for logistics and supply-chain business can also be a profitable venture. Manufacturers find various challenges while managing logistics and supply chains. They must respond quickly to vendors’ responses and keep the departments up-to-date.
AI-based apps can quickly and accurately handle complex challenges associated with fuel, route, and transportation costs. These AI apps can also interpret and analyze a large amount of data and offer valuable insights. Also, you can cut down costs on warehouse staffing and other overheads to a large extent.
5. AI Video Generator App
You must have seen Instagram reels where you can morph or swap your faces with celebrities. Such videos are popular today. Millennials want high-quality video generator apps to rule social media.
You can develop AI video generator tools that allow businesses to create videos without human intervention. A feature of creating videos based on text content can be a profitable venture for you.
You can have a subscription-based monetization model with in-app purchases.
6. E-Recruitment Automation App
We all know how tiresome and boring recruitment processes are. You can create a highly automated recruitment platform that can easily streamline business hiring processes.
HR recruiters can quickly evaluate resumes, shortlist candidates, conduct interviews, and forecast the right job fit.
At the same time, you can also reduce your recruitment costs by eliminating all manual recruitment processes. You can have a subscription-based model for monetization. Also, you can charge a commission fee for each candidate your platform recruits.
7. AI Workflow Automation
Some various tasks and workflows require automation for better management and improved productivity. Streamlining these workflows will not solve the problem as it still requires regular monitoring by humans.
With AI, you can automate these workflows completely without human intervention. You can achieve accuracy and precision and improve productivity and efficiency by automating these workflows.
You can develop AI software for workflow automation and charge a licence fee for monetization.
8. Content Creation with AI
ChatGPT is an ideal example to discuss how AI can help in content creation. Not just content, AI can also help in software development by writing code for you. This is a content-driven world, and AI-based tools can help generate high-quality, original, and highly relevant content for your business needs.
You can have in-app purchases or a subscription model to monetize this business idea.
9. Smart Agriculture
It is time for smart farming as resources like land and water are finite. You can develop an AI tool or smart agriculture solutions to optimize the use of farming resources, analyze soil quality, predict weather conditions, analyze and review received data, and offer better data-driven recommendations to farmers. You can create more sustainable and efficient farming with these solutions.
You can monetize this software or app with subscription fees or offer consultancy services to agriculture-based businesses.
10. Automated Financial Consultation
Millennials are investing heavily in various assets at very early ages. They are becoming more financially aware and need high-quality financial consultation to invest correctly.
AI-driven financial apps can help them with data-driven financial advice and recommendations.
They can process a large amount of data and derive highly valuable and actionable inputs. Not just that, such AI tools can offer personalized strategies, risk assessments, and portfolio management services as well. People can easily manage their wealth with such actionable inputs and consultations.
You can charge subscription-based fees or monetize data as well.
11. Team Collaboration App or Software
Teams must work together to achieve a singular goal in any organization. However, we have seen various hurdles and challenges when it comes to team collaboration.
With AI, you can create a custom AI team collaboration tool or software that can help multiple team members from different teams to collaborate and work efficiently.
This AI app can effectively handle communication and coordination challenges to produce better outcomes.
An ideal virtual platform where team members can collaborate, exchange ideas, work on tasks, and track project management efficiently.
You can go for a subscription-based model to monetize the app.
12. Photo Editing App
Plenty of AI-based photo editing tools and apps are available in the market. Why do you need to develop one more app? Businesses now understand the importance and power of visuals.
High-quality, original, and message-driven images can help businesses forward their reach and gather more likes, shares, and comments on social media platforms.
You can develop an AI-driven photo editing app with highly advanced features and functionalities. You can harness the power of AI to allow businesses to edit photos without manual intervention can work for them.
You can go for a subscription-based model to monetize this idea.
13. Virtual Personal Assistants
You can also help businesses by developing AI virtual personal assistants that can be as effective as human personal assistants. The trend of virtual personal assistants is increasing, thanks to a wide range of tasks they can perform regularly.
These VPAs can handle various work like accounting, supply chain management, inventory management, email replies, process monitoring, etc.
You can charge an hour-based fee for these virtual assistants to monetize this idea. Also, you can go for a subscription-based model for businesses looking for long-term assistance.
14. Voice and Image Recognition Tool
Developing a voice and image recognition app or tool can help perform multiple machine-based visual tasks like performing image-based searches, guiding robots, self-driving cars, etc.
Voice and image recognition tools have many other applications. You can develop a real-time tool that accurately recognizes images and voices to perform various tasks precisely.
You can have a subscription-based monetization model. Also, you can go for in-app purchases.
15. AI-based Business Analysis
AI can also be used in business analysis. You can harness the power of AI to deliver highly advanced, valuable, and in-depth real-time analysis to businesses. They can leverage such valuable data-driven insights to make data-centric decisions.
AI business analysis tools can evaluate data patterns and translate them into user-friendly insights to give power to businesses to get a competitive edge.
Though the collaboration of AI and business analysis is still in its primary stage, it shows immense potential in the future.
You can go for a subscription-based model to monetize this idea.
How Much Does It Cost to Build an Ai-Based Business Solution?
There is no straightforward answer to this question. It depends on various factors like
- Software cost
- Workforce cost
- Training and maintenance cost
- The AI development company you have hired
- The location of the company
- The complexity of the AI solution you want to develop
- The scope and size of the project
- The amount of time required to create the product
Consider ManekTech As Your Trusted Artificial Intelligence Development Partner
ManekTech is a leading AI ML development company with the right mix of advanced tools and expert AI developers to meet your AI needs. We have the state-of-the-art infrastructure and tools to cater to your complex needs.
Our AI developers are well-versed in the technology and have relevant experience developing highly unique, business-centric, and robust AI solutions that perfectly match your business needs.
Conclusion
AI is an emerging technology with immense potential. It will change the whole landscape of businesses and how they are run. Adopting AI at this stage will give you a competitive edge over others.
If you are an entrepreneur, you can harness the power of AI to build highly unique software or apps that can transform the world in a good way. We have discussed some brilliant AI business ideas to give you glimpses of how AI can change the world. You need to hire an AI development company and discuss your business idea with them to get started.
