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6 Things ChatGPT Can Do To Help You Make More Money

Alibaba founder Jack Ma has said that ChatGPT is the beginning of the AI era.

This artificial intelligence (AI) has taken the internet world by storm. Released in Nov 2022, there have been multiple discussions about this programme and whether it will be a great changemaker to our usage of tech and our jobs.

OpenAI’s ChatGPT has been used to write cover letters, create children’s books, and some even use it to game their essays. It also does a great job of answering customer support questions. This has obviously raised concerns about how a technology like this will replace jobs such as programming, content writing, paralegal, market research, and even teaching.

This can be seen as a threat but why not view the technology as an enabler and a tool to help you do better with your work and also to earn money? Instead of worrying, embracing it might be the way you can move ahead and excel in your career or business. ChatGPT is currently known to have the following skills: machine learning, natural language processing, data mining, intent analysis, and response generation.

Besides, we already have top tech gurus such as Alibaba founder Jack Ma saying that ChatGPT is the beginning of the AI era, so rather than fearing it, it would be better to take advantage of the changes ahead of others.

We look at six ways ChatGPT can help you improve your work or business with money making techniques.

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ChatGPT Can Tell You The Steps To Set Up A Business And Teach You How To Run It

If you have been following tech industry news, you probably heard of a person starting a business with only $100 by doing what ChatGPT tells him. Brand designer Jackson Greathouse Fall ran a curious experiment of using GPT-4 to start an online business.

Image Credit: Jackson Greathouse Fall/Twitter

The story that went viral on Twitter showed ChatGPT suggesting the design of the logo for the business, which suggests a “minimalist and modern logo” that incorporates elements related to sustainability.

It even suggested to the human that he can use the logo on his website, social media profiles and other promotional materials.

It also decided for the human that the logo should be positioned in the top left corner, and a category section to be a five-column grid. There were also other decision making responses to questions on whether to spend the balance of the money left after purchasing the domain name.

The robot told the human to publish the web and make the site live and this is how it looks like:

Verdict anyone? It does seem to look like a pretty decent website and one would not believe the entire page was set up with instructions from a robot and the human acting on the tasks.

Who says you need a webpage consultant or a team to set up a business? Look at the real time examples and decide for yourself if this could work for you.

Enhance Your Business’ Social Media And Content Creation To Generate More Buzz

There are 4.76 billion social media users globally, and they each spend 147 minutes per day on social media.

Consumers are also now online and interacting more. With that, social media marketers are competing for better ways to serve and engage with these consumers more efficiently. Marketing is a soft form of advertising that aims to drive awareness and customer conversions, and with the AI as your assistant, you can be on your way to expanding your customer base.

The AI can also be used to generate interesting captions and polls for your social media platforms (quippy titles, relevant hashtags) to drive more engagement and lucrative partnerships For e.g., you can use ChatGPT to write captions and compose crafty creative copy for ads, Instagram Stories and Reel, campaigns.

ChatGPT can also be used for writing posts, scripting videos, podcasts, or compiling response templates. With limited budgets you can still achieve crafty content by tapping on ChatGPT.

Here are some free money making tasks you can use ChatGPT for:

  • Produce content faster and more efficiently, and generate more sales.
  • Use ChatGPT to write captions for Instagram, craft a LinkedIn article, or compose a Tweet.
  • Edit your captions and text with ChatGPT to provide you with new and shaper better quality content.
  • Improves your quality of content output and also help to “brainstorm” for fresh ideas.

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Trade And Invest Better

ChatGPT can analyse market sentiments by leveraging multiple pieces of information available on the internet. It can track and analyse vast amounts of info and present the answers to you.

The AI can help you create technical indicators, trading strategies based on specified indicators, and even trading algorithms. It uses techniques such as the attention mechanism to focus on specific parts of the input while generating the output and also a technique called beam search to create multiple hypotheses and select the most likely answer.

You can also use the AI to conduct fundamental analysis. This is done by extracting insights from financial news articles, and social media posts to make informed investment decisions. There are also technical analysis abilities. ChatGPT can be used to code any technical indicator or strategy for a trading platform, but you also need to know the coding to make the right modifications.

There’s also sentiment analysis where the AI can fine-tune information taken from financial news articles, social media posts, and other unstructured data sources to identify a positive or negative view about a particular market trend or stock.

The insights taken from the AI can save you many man hours from pouring through news articles and the internet to find out information about a company. Investors can be able to identify price patterns and trends before making trading decisions.

But of course, you still have to do your due diligence, such as looking at the annual and investor updates from the company you are investing in, as part of a shareholder’s role.

A potential drawback could be that ChatGPT is still currently learning information as it continues to be online, and there may be certain limitations to its investing knowledge on small caps stocks and penny stocks, but for larger companies, there is enough data for it to build an analytical thesis from but do check on how recent the AI was updated as the information could only be up to a certain time period.

You should also note that you should not over rely on the AI for market trends, sometimes there may be complex interactions in factors that affect the market.

Build, Assist, And Answer Queries As You Grow Your E-commerce Business

Think of ChatGPT as your superhero assistant that doesn’t need to go for lunch breaks. If you have an e-commerce business you will know that it takes a lot of effort to market your product, find good images, and also mail out the items. For those who are thinking of starting one, this is also a good opportunity to do so as you have a new free assistant to help you with it.

You can rely on the AI to automate time-consuming and tedious tasks like customer support. It can also help with inventory management and order tracking. Certain e-commerce solutions have tapped into ChatGPT to provide services to improve the workflow for e-commerce companies, such as the ChatSonic app. You can even integrate the solution into your existing e-commerce workflow.

You can also tap on it to generate better quality content for your marketing campaigns, emails, social media shoutouts and adverts. You can create better product descriptions without spending too long on each product.

Here’s an example of using ChatGPT to provide product descriptions:

Image Credit: ChatSonic

There are also other possibilities, such as using ChatGPT to analyse your customer’s purchase behaviour, and browsing history and create suggested personalised product recommendations to customers to give them information about things they prefer and want, which will lead to a higher chance of purchase.

Build Apps As A Business

You may only need to have limited knowledge of coding for this. Some possible functions of a ChatGPT-enabled app could be an app that replies to emails and also an app that can plan itineraries based on location, trip length and interest. You can also integrate ChatGPT into several no-code development applications, like Power Apps, Airtable, and Bubble. You can also create a ChatGPT chatbot.

If you have no coding knowledge, there are courses online such as Udemy. You can learn the basics of ChatGPT and Android studio and use the studio with ChatGPT to create an Android app. You can also learn about how to create codes from ChatGPT to design the app and make it work.

There are also online “masterclasses” to learn how to create full business applications and solutions with the Open AI API and ChatGPT AI. The class can also teach you how to integrate ChatGPT into several business platforms, like Outlook, Teams, Excel, and Power Automate.

Sharpen And Enhance Your Business’ Articles/Freelance Articles

Reading articles may not feel the same again. That’s because it may actually be written by a robot. Taking the benefits of ChatGPT, one can use it for content writing to speed up the time required to complete copywriting or marketing articles. (Although the caveat is that for journalists, you should not rely on ChatGPT to write your articles as you should be breaking the news and doing your own research!)

Having said that, you can rely on the robot to generate Search Engine Optimisation (SEO) keywords and titles. This will improve your content presence on the internet. You can also use ChatGPT to suggest headlines for you to sharpen your decision on which title to use with the right SEO keywords.

ChatGPT can write essays on virtually any topic because it is trained on a wide variety of text that is available to the general public. But you will have to fact check your content, as there may be inaccuracies as the bot relies on a learning model to predict answers. The more detailed your instructions, the more sophisticated your answer will be.

Although the free writing could potentially be watermarked distinctly in the future and may appear in the next version of ChatGPT. OpenAI researchers have developed cryptographic watermarking to aid in the detection of content created through ChatGPT. The code can be in the form of how punctuation is used or in word choice, for example.

Another powerful skill that the AI has is to translate text from one language to another. Think Google Translate but without the bad translation. It relies on AI and natural language processing to understand the meaning of the text and then translates it into the target language. This can assist copywriters who have to churn out content in various languages to create their content better and faster.

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