Dan Martell - December 08, 2023


I Discovered the Best A.I. Businesses to Start in 2026

Hosted by
Dan Martell
Mentioned
Daryl Oren Chris
No one fought harder than Jesse Lee Ward You spend money and time on your business, why not on your family.

Episode Stats


Length

8 minutes

Words per minute

193.76

Word count

1,645

Sentence count

93


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about the 5 key business models you need to consider to make millions of dollars in AI today. These are the business models that will allow you to get rich with these 5 AI business ideas. 1. Content creation 2. Training and education 3. Consulting 4. Data 5. Implementation

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Get rich with these five AI business ideas.
00:00:03.680 If you're new to my stuff, I'm Dan Martell.
00:00:05.420 I'm a technology entrepreneur.
00:00:07.100 I've invested in a dozen AI companies.
00:00:09.640 I coach about 50 plus,
00:00:11.420 and I've helped many of my friends build AI business models.
00:00:14.680 And what I wanted to do is extract the five big categories
00:00:18.040 that you need to consider
00:00:19.620 to make millions of dollars in AI today.
00:00:23.060 The first one is content creation.
00:00:26.640 A friend of mine, Chris, a couple months ago,
00:00:28.560 he was going through this process.
00:00:30.580 I walked him through how to think
00:00:32.540 about creating content using AI.
00:00:35.600 And today he took a nine hour piece of work
00:00:39.060 and has distilled it into 15 minutes worth of effort
00:00:42.400 that gets $150,000 grants approved
00:00:45.480 using this exact process.
00:00:47.640 The first one is look for the constraints.
00:00:50.160 Anytime there's content being put out there,
00:00:52.120 it could be marketing content,
00:00:53.360 it could be producing scripts for video content.
00:00:56.480 What is the bottleneck around that?
00:00:58.560 constraints because what you want to help people do is move fast. Then you want to go to number
00:01:02.940 two, which is the content. Look at the output. Understand what parts of that information makes
00:01:08.880 it unique. If it's Facebook ads, if it's blog posts, what makes it unique? Because what you're
00:01:14.480 looking for is how do you replicate the output? Then number three is you got to figure out what
00:01:19.580 are the prompts that go into this. The prompts are where the heavy lifting for AI engineering
00:01:24.960 and goes into, you're gonna have to figure out
00:01:26.580 how to create the prompts that generate the content
00:01:29.240 based on the constraints on the front end.
00:01:31.240 And it's all about the inputs.
00:01:32.920 Then the last part is the solution.
00:01:35.620 Take all of that, package it up into a service
00:01:38.420 and then put it out there.
00:01:39.640 So you gotta sell that solution.
00:01:41.340 The second one is training and education.
00:01:45.020 You might think everybody knows about AI.
00:01:46.800 Trust me, they don't.
00:01:47.980 So you want to create a business where you get paid
00:01:51.340 to train and educate the market.
00:01:54.380 there's companies like deep learning they do 50 million a year teaching and training people on the
00:01:59.580 topics of ai you can even get paid to help small businesses integrate ai into their company and
00:02:05.340 that's the first step in this process is understanding where's the gap talk to the
00:02:09.420 small business owners and ask them where are you using ai to increase your efficiency or solve
00:02:15.660 problems faster you first got to start with the gap then you go to research the solution have
00:02:21.660 have those interviews, talk to those customers,
00:02:23.580 figure out where the opportunities are to train and educate,
00:02:25.480 then research, become an expert around the solution.
00:02:29.480 The third step is to pilot that solution
00:02:32.140 with those early customers.
00:02:33.800 You find five customers, you interview them,
00:02:35.840 you see what their challenges are,
00:02:37.100 you then go and do the research to solve the problem,
00:02:39.180 you pilot it with those customers,
00:02:41.240 outline the prompts, the strategy,
00:02:43.180 whatever you wanna integrate,
00:02:44.180 and then finally, then you create a course.
00:02:46.680 And here's the coolest part,
00:02:47.580 you actually ask AI to create the course
00:02:50.200 based on the research and the pilot that you've put together.
00:02:53.580 I'm telling you, it's that simple.
00:02:55.500 Get in front of a camera, create the course,
00:02:57.560 start selling it.
00:02:58.480 That's how you can get paid today
00:03:01.040 to train and educate other people on AI.
00:03:03.700 The third business is consulting and implementation.
00:03:08.200 There's four key areas you need to focus on
00:03:10.580 if you wanna make money using this business model.
00:03:12.500 The first one is you find somebody,
00:03:14.240 you gotta do free work.
00:03:15.380 And the reason why is because you're trying
00:03:17.020 to extract the assessment.
00:03:19.080 The assessment is when you start working with a new customer,
00:03:22.200 what are the questions you're gonna ask them
00:03:23.600 in regards to their AI adoption?
00:03:25.680 What are they doing today?
00:03:27.080 Where are the opportunities?
00:03:28.980 That's number one.
00:03:29.820 Then we want to focus on out of all the opportunities,
00:03:32.700 what's the biggest problem that you can solve
00:03:34.660 that also gets them a fast result?
00:03:37.680 Biggest problem, fastest result using AI
00:03:40.620 that you can do for them.
00:03:42.260 Then you go to third step, which is extract the methodology.
00:03:45.420 In consulting businesses, the methodology is the product.
00:03:48.780 It's the process for how you actually implement what you do.
00:03:53.340 Then the last step, number four,
00:03:55.100 is you have to teach free information,
00:03:58.780 get paid for implementation.
00:04:00.840 This is the key.
00:04:02.040 Most people don't get this.
00:04:03.540 Give away everything you know how to do
00:04:05.560 and then get paid for the implementation,
00:04:07.800 get paid for the consulting.
00:04:09.600 Number four is data monetization.
00:04:13.220 I told you it's gonna get more advanced,
00:04:14.500 but this one is actually next level.
00:04:16.300 A long time ago, I had a company called Flowtown
00:04:19.700 and I had an investor named Oren.
00:04:21.420 Oren had sold his company, Wrap Leaf,
00:04:23.320 and he was working on a new idea.
00:04:24.640 And his big idea was to create a marketplace
00:04:27.220 for data providers to sell to AI companies.
00:04:30.640 And this was seven, eight, nine years ago.
00:04:32.780 And at the time, I didn't think
00:04:34.280 it would actually be a big idea.
00:04:35.840 I'm like, who would buy this information?
00:04:37.880 And it turns out it's become an incredible business.
00:04:40.440 There's opportunities for you to go and find data sets
00:04:43.880 that are unique.
00:04:44.800 make sure that they're accurate, they're clean.
00:04:47.200 I'll tell you what to look for
00:04:48.400 and then sell those to these people on this side
00:04:51.840 and make a ton of money
00:04:53.500 if you understand this element right there.
00:04:56.360 So let's dive into it.
00:04:57.340 First off, you gotta find information that's got relevance.
00:05:01.020 So trying to figure out what some of these AI people
00:05:03.980 are looking for data-wise, that's the key.
00:05:06.720 It's gotta be relevant to their model.
00:05:08.980 Number two is it's gotta be high quality.
00:05:11.900 What I mean by this is it can't have a lot of noise.
00:05:13.980 It can't have a lot of inaccuracies.
00:05:15.780 And then the final part,
00:05:16.940 which is the key for anything AI is volume.
00:05:19.960 These large language models need hundreds of thousands,
00:05:22.920 if not millions of records around the data.
00:05:25.700 So you gotta find stuff that's relevant and clean,
00:05:28.020 high quality and high volume.
00:05:29.760 Now, who do we sell this to?
00:05:31.540 First off, you've got three key people.
00:05:33.760 Number one is data scientists.
00:05:35.540 Go on LinkedIn, find the people that are data scientists
00:05:38.160 inside these groups of people.
00:05:40.120 The hedge fund companies, the technology companies,
00:05:42.260 they've got a data scientist that tells you that they buy data. Number two is a data engineer. Data
00:05:50.120 engineers are actually the people that sit there and they massage the information that comes in
00:05:54.080 to make sure it can map to the AI models. And then the most important role in Silicon Valley
00:05:59.360 in all technology companies is product managers. These are people that are making decisions about
00:06:03.960 product roadmaps and how they're going to differentiate and compete against their
00:06:07.500 competitors. So they're always looking for data to be competitive. Now, the business model for
00:06:14.400 you to do is you will make tens of millions of dollars doing this, right? Is you have to be good
00:06:19.320 at transforming the data. There's different file types and depending on what technology the data
00:06:24.640 scientists are using, they might need you to transform that data so that it fits in their
00:06:29.280 world. The fifth business model for making money off of AI is products or services. See, products
00:06:35.640 or services are awesome because you will get paid all the time for people using the product. For you
00:06:42.260 to find the right product or services can require a few things. There's three elements. My buddy
00:06:46.820 Daryl, he runs a company called FlexPay. He was in the industry that he's in today, but he saw an
00:06:52.460 opportunity to take all this data and create a better solution. Now Daryl's business is a
00:06:57.940 multi-million dollar company and you can do it too. See, there's three things you need. The first
00:07:02.980 one is domain expertise. You need to understand your industry because you want to go deep and
00:07:08.360 look in the nooks and crannies of what's going on in the market that you could see opportunities for
00:07:13.820 AI. Number two, and this is what Daryl did, because he understood the problems, he found an AI exposed
00:07:18.300 problem. An AI exposed problem is an opportunity to use big data to improve a process. See, one
00:07:24.800 of the things he noticed in the payment world is that many of the transactions were getting
00:07:28.620 declined. Maybe you've experienced this where you go to use your credit card online and it doesn't
00:07:32.700 want to work but it doesn't make sense because there's space on the card. Daryl saw an opportunity
00:07:36.840 that was an AI exposed problem and then what he did that I'm recommending you all do is he hired
00:07:41.580 a data scientist and said we have all this data could you look at it evaluate it and tell us do
00:07:47.600 we have an opportunity to create a product or a service around AI and not only did they have an
00:07:53.960 opportunity they realized this problem was a massive problem think about all of the subscription
00:08:00.360 businesses in the world all these micro payments they're all there online and they have problems
00:08:05.000 with customers credit cards getting declined they took all this information the domain expertise he
00:08:10.180 had the ai exposed problem and the data scientist research and they decided to build the ai enabled
00:08:15.840 product which became flex pay you can do the same thing so those are the five business ideas in ai
00:08:22.920 that'll make you rich and if you want to learn how to get 10 more clients by the end of the year
00:08:26.640 click the video on screen and I'll see you on the other side.