OpenAI’s ChatGPT has seen incredible growth with an estimate 100,000,000 active users in January since releasing the Open AI project to the public in November, 2022. And while we know that high school students may use ChatGPT to cheat by writing their essays, how do you make money using ChatGPT?
We are going to dive right in as too many articles and videos focus on making better copywriting for drop shipping or something basic.
So, instead, I thought who better to ask this question than ChatGPT itself. At first, it didn’t seem like it was going to answer my question, but then it gave me some ideas.
First, we will cover it’s suggestions and then we will go through whether these are actually viable.
ChatGPT suggestions to make money
- Content creation: You can use ChatGPT to generate content for your website, blog, or social media platforms. For instance, you can ask me to write articles or blog posts on a particular topic or ask for suggestions for content ideas.
- Customer support: You can use ChatGPT to automate customer support on your website or e-commerce store. You can train me to answer frequently asked questions, provide product recommendations, or troubleshoot common issues.
- Personalized recommendations: You can use ChatGPT to provide personalized recommendations to your customers or clients based on their preferences, behavior, or purchase history. For instance, you can ask me to suggest products or services that match a user’s profile.
- Language translation: You can use ChatGPT to provide language translation services to clients. You can use me to translate text, speech, or videos from one language to another.
- Market research: You can use ChatGPT to conduct market research by analyzing customer feedback, product reviews, and social media mentions. You can use the insights to improve your product or service offering or to identify new business opportunities.
Can These Options Actually Make You Money?
I believe that content creation is probably the best avenue to make money with ChatGPT thus far as it can create logical content fast. For example, you could possibly start a blog and use ChatGPT to help with titles or content.
For example, if you have 2 blogs and would like to re-write an article and post on another blog then you can do so easily with ChatGPT.
I have attempted to use ChatGPT for customer support enquires, and I would say that it works okay, but it doesn’t make me money as much as it saves me time, which is also valuable.
I don’t see personal recommendations being at play just yet to make money. In addition, you have to have existing clients to utilize this option, which really cuts its ability to make you money fast.
I could see that ChatGPT could help you translate articles rather easily, but there’s still a question in my mind whether ChatGPT can beat Google Translate.
Finally, I believe that market research can definitely make you money in future versions if ChatGPT can reliably source information from the internet. Without having real time data, it may be difficult to provide accurate market research.
ChatGPT Money Making Limitations
At this point, I believe the biggest limitation to use ChatGPT to make money is that it cannot source reliable information from the internet.
If I’d like basic information on a country, ChatGPT can help, but I can’t compare Google reviews of different pizza restaurants in NYC.
Conclusion
It’s not clear to me that ChatGPT can be a reliable way to make money fast. I would question those who state that they can make $100,000 a year using ChatGPT.
That said, I believe the future is bright to use ChatGPT to make consistent money.
