10+ Profitable AI Business Ideas To Start In 2024

By RisingMax

December 25, 2023

10+ Profitable AI Business Ideas To Start In 2024

In an era where technology continually reshapes the landscape of business and innovation, AI is emerging as a revolutionary. There are a plethora of AI business ideas that can solve real world challenges and generate billions in revenue.

From revolutionizing customer service with AI based chatbot to optimizing healthcare delivery, and redefining how we interact with our environment to enhancing how we work and live, AI startup ideas are creating a significant impact.

artificial intelligence ideas

As we delve deeper, we uncover a world where AI is not just a buzzword but a catalyst for business transformation. Businesses across all sectors are harnessing the power of AI to streamline operations, enhance decision-making, and create personalized experiences for customers. The possibilities and the potential for growth seem endless with unique and realistic artificial intelligence business ideas.

The AI revolution is not confined to large corporations; it's accessible to startups and entrepreneurs with creative visions. This dynamic landscape is teeming with opportunities waiting to be seized by those who dare to dream big and think innovatively.

RisingMax Inc., a leading AI development company, has assisted entrepreneurs and businesses worldwide in joining the ongoing AI bandwagon. Our team leverages its domain expertise to build AI-powered business solutions that solve real world problems and are future-proof. We help you securely ride the AI wave and explore unique artificial intelligence business opportunities. Connect with our experts and discuss your AI business idea today.

List Of Top AI Business Ideas

Look at some of the prominent AI business ideas that are generating millions of dollars in revenue.

  • AI Healthcare Assistant
  • AI News Anchor
  • AI-based Learning Apps
  • AI Chatbot Solutions
  • AI Paralegal Assistant
  • AI NSFW Chatbot
  • AI Energy Management
  • AI Fraud Detection Software
  • AI CRM Software

Let’s delve deep into the topic and read about unique and trending artificial intelligence startup business ideas.

1. AI Healthcare Assistant

Market stats: In 2022, the USA virtual care market size was USD 5.6 billion and is projected to reach around USD 76.31 billion by 2032 at a CAGR of 29.9 percent. (Precedence Research)

Artificial intelligence technology opens up vast opportunities in different business domains, and healthcare is no exception. The global virtual healthcare market is large and growing at a fast pace (as mentioned in the statistics above).

Investing in AI healthcare assistants allows healthcare facilities to automate tasks, reduce errors, provide personalized care, and identify potential health issues at an early stage. Healthcare sectors worldwide are developing AI healthcare assistants to offer quality healthcare services to patients.

Here’s how entrepreneurs are generating revenue from AI healthcare assistants;

  • Subscription fees
  • Fee-for-service
  • Data monetization

As the acceptance of artificial intelligence technology is growing within the healthcare industry, making AI healthcare assistants a promising business venture. The demand for AI healthcare assistants is expected to grow rapidly, making it a potential billion-dollar business idea.

We Help You Transform Your AI-based Business Idea Into Reality

2. AI News Anchor

Market Stats: 63% of media and entertainment companies use AI for personalization. (Zipdo)

By 2030, artificial intelligence technology will boost the global economy by $15.7 trillion, while the media and telecom sectors are likely to benefit more. (PwC)

AI news anchor is a revolutionary business idea that can potentially disrupt the news and media industry. A combination of next-gen technologies like ML, NLP, and Generative AI empower these tech-advanced news anchors to revolutionize how news is produced and consumed. 

The AI disruption in the media and news industry opens up plenty of new opportunities for entrepreneurs worldwide.

Do you know what Bloomberg, CNN, and CNBC have in common?

They all have been using AI news anchors to deliver news related to business, sports, entertainment, and finance. 

Connect with our experts at RisingMax Inc. and transform your AI news anchor software idea into a fully working business model.

3. AI-Based Learning Apps

Market Stats: During the period of 2022-2030, the global AI in the education market is expected to grow at a CAGR of 36 percent. (Grand View Research)

Artificial intelligence is employed by different business verticals to better analyze data and offer personalized experiences to customers. Education facilities and businesses worldwide are integrating AI technology within education apps and software to offer personalized learning experiences.

AI-powered learning applications can adapt according to student learning pace, concept, and subject understanding, to facilitate students. The integrated AI algorithms in the learning aps empower them to analyze better and evaluate each student. And curate a subject course based on the input or response of students.

Launching edtech startups that leverage the power of artificial intelligence to create a personalized learning experience and cater to the education needs of students worldwide have the potential to generate billions of dollars.

Also Read: AI Software Development Services Providers USA

4. AI Chatbot

Market Stats: More than 80 percent of businesses worldwide believe that AI chatbots will play a major role in customer and business communication. (CGS)

Businesses can save up to 30 percent on customer support with an AI-powered chatbot. (IBM)

Effective communication with customers is the foundation of a successful business in any domain. Investing in AI chatbot development allows entrepreneurs to bridge the communication gap between customers and businesses. These AI-powered chatbots are a great tool to solve customers' queries and offer a personalized experience.

Generative AI and NLP-powered chatbots can analyze human text and provide more accurate responses. Moreover, the AI chatbots can be trained on a particular domain or subject, making them experts in offering advice and accurately answering customers' queries.

Entrepreneurs can partner with an experienced AI chatbot development company and build their own AI-powered chatbot. Here’s how you can generate money from an AI chatbot;

  • Licensing
  • Software-as-a-service
  • Subscription services
  • Commission charges
  • Data monetization
  • Cross-selling
  • Lead generation
  • Affiliate marketing
  • Survey and Statistics

Based on which type of AI chatbot and revenue generation methodology better suits your AI business idea, you can generate thousands of dollars in revenue. The increasing popularity of AI has increased the demand for AI chatbot development, thus making it a profitable business venture to invest in.

5. AI Paralegal Assistant

Market Stats: In 2022, the global AI legal software market was valued at $719.5 million and projected to reach $7,252.8 million by 2031. (Straits Research)

Artificial intelligence technology is all set to disrupt the legal industry with unique and innovative AI-powered solutions. AI paralegal assistant is one such innovative legal software that has the potential to revolutionize the legal sector.

AI-powered legal assistants take off the burden from the paralegal staff and assist them in handling day-to-day legal tasks such as case research, drafting legal briefs, case management, and automating the billing process. This allows paralegal staff members and attorneys to devote a major portion of their time to handling case complexities and preparing a strong case.

The growing popularity and increasing use cases make investing in AI paralegal assistant software development a profitable business venture. Here’s how you can generate money from AI paralegal assistant software;

  • Software-as-a-service
  • Subscription services
  • Commission charges
  • Lead generation

The market stats above clearly indicate the growing popularity of AI-based legal softwares and apps around the world. AI paralegal assistant software has the potential to cater for attorneys and legal firms worldwide, making it one of the most profitable AI-based business ideas.

6. AI NSFW Chatbot

Market Stats: The global market size is projected to reach $15.5 billion in 2028 from $5.4 billion in 2023 at a CAGR of 23.3 percent. (Markets And Markets)

Where traditional chatbots are only limited to answering generic user queries and FAQs, NSFW chatbots are a groundbreaking innovation taking chatbot capabilities to a whole new level. These chatbots are capable of engaging with users in unfiltered conversations on any topic without any restrictions.

Users around the world are engaging with these chatbots to have private conversations and unfiltered chats based on their moods. In this technology-driven era, the concept of companionship or relationship has taken a new dimension. 

Investing in virtual girlfriend/boyfriend app development or NSFW chatbots assists in bridging the gap between human emotion and artificial intelligence. These chatbots can provide emotional support, provide a safe environment for private chat, and have unfiltered conversations with users on any topic.

Providing these services on a subscription or commission basis has the potential to generate thousands of dollars in revenue. Making it a future-proof and money-generating AI business idea.

Click to know How much AI NSFW chatbot development costs

7. AI Energy Management

Market stats: The global AI in energy market size is estimated to reach $19.8 billion in 2031 from $4 billion in 2021, with a CAGR of 17.4 percent. (CSM Wire)

As the demand for clean or renewable energy is increasing worldwide, artificial intelligence is quickly establishing itself as a key player. AI-powered energy management software is dominating the energy sector, allowing businesses to optimize energy consumption, minimize carbon footprint, reduce cost, forecast demand, and better utilize resources.

Investing in AI energy management software becomes a lucrative AI based startup idea. The software can be provided to factories, apartments, businesses, and similar types of facilities on subscription, commission and SaaS bases to generate revenue. 

An Idea Without Execution Is Just A Dream

Our expert team guides you during the entire AI project development journey. We blend our expertise and innovation to transform AI business idea into reality. Start your digital idea to reality journey with our experts today.

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8. AI Fraud Detection Software

Market stats: The global fraud detection market is projected to reach $182.66 billion in 2030 from $43.97 billion in 2023 at a CAGR of 22.6 percent. (Fortune Business Insights)

Fraud detection software, as the name suggests, is designed to analyze a large amount of data to detect online fraud within seconds. Insurance companies, banks and financial institutions utilize these types of fraud detection software. 

By investing in AI-powered fraud detection software, you can cater to the needs of industries and businesses that are more vulnerable to online fraud and cyber attacks. The integrated AI algorithm constantly monitors and analyzes data to identify irregular patterns, transactions, and unauthorized access.

The high-end clients of AI fraud detection software make it a rewarding artificial intelligence business idea. Pitch your AI solutions to financial institutions, ecommerce businesses, banks, insurance and other related organizations. You can either sell your software, charge a subscription fee or use a SaaS model to generate revenue from your AI based business idea.

9. AI CRM Software

Market stats: The global customer relationship management market size is expected to grow at a CAGR of 13.9 percent from 2023 to 2030. (Grand View Research)

To build a strong relationship with customers, businesses worldwide are always in search of reliable software solutions. AI-powered CRM software is becoming a go-to platform, allowing businesses to drive valuable insights from data and better manage relationships with customers.

The advanced algorithm within CRM software assists in early identifying market trends, changing customer preferences, and predicting customer churns and their preferences. Leveraging this information, businesses can customize their marketing and sales efforts to establish better relationships with their customers.

Here’s how you can generate money with AI CRM software:

  • Software-as-a-service
  • Subscription services
  • Data monetization
  • Cross-selling
  • Lead generation
  • Survey and Statistics

In future, AI-based CRM software will play a major role in building a strong relationship with customers and offering a personalized experience. And tapping on this growing business opportunity with AI CRM software could be the next billion-dollar profitable AI business idea you have been looking for.

artificial intelligence business ideas

Conclusion: AI Business Ideas

Remember, every idea has the potential to become the next big thing. But having an idea on pen and paper is not enough. 

Even a billion dollar business idea on pen and paper is similar to a dream. You need a brick-and-mortar setup or software/application to pitch to potential investors or clients to generate funding or start generating revenue.

This is where we can help. Our experienced team has been assisting entrepreneurs and business owners in transforming their unique AI business ideas for entrepreneurs into reality.

Have a AI business idea for your startup that you want to discuss?

Book a free consultation call and discuss your idea with our experts today.

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