This article summarizes 9 proven business models for profiting from AI, spanning services, products, platforms, investments and computing infrastructure.
1. Companies need help implementing AI solutions but often lack the internal expertise. Providing AI consulting services to assist organizations with developing and deploying customized AI systems tailored to their business challenges can be extremely lucrative.
2. Many companies have strategic AI initiatives but lack the software engineering and data science talent to execute them. You can offer end-to-end development of custom AI solutions for these clients based on their specific needs and data.
3. AI systems need quality data. Offer services collecting, cleaning, enriching and labeling datasets that companies can use to train models.
4. Companies want AI education to build internal capabilities. Developing workshops, courses and certification programs around AI fundamentals, applications and emerging trends can be a scalable high-margin business.
5. You can build and sell your own software products with AI capabilities baked in. Everything from SaaS platforms, to developer APIs, to consumer mobile apps can benefit from adding AI features tailored to your solution and users.
6. Rather than complete products, you can sell access to your custom AI models directly via APIs. Other companies can integrate these AI capabilities into their own products and workflows.
7. Existing businesses can boost revenues and efficiency by strategically applying AI solutions. Target opportunities around personalization, process automation, predictive analytics and conversational interfaces.
8. Emerging AI startups are attracting huge investments before exponential growth occurs. Providing early stage private funding to compelling startups developing innovative technologies or applying AI in novel ways can generate large returns.
9. Mature AI startups with proven solutions can be acquired to instantly infuse your business with new capabilities. This allows inheriting their technology, talent and customer traction in one move versus building internally.
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