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12 Artificial Intelligence (AI) Business Ideas

Written by:

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by:

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

12 Artificial Intelligence (AI) Business Ideas

Artificial Intelligence (AI) has emerged as a powerful tool for many lines of work, and the industry is booming — worth more than $136 billion in 2022 and set for a stunning 37% annual growth through 2030. 

You could launch an AI-powered business, ride this wave, and make a great living, and there are many routes to choose from. Check out these 12 great AI startup business ideas and start building your digital success. 

1. AI Crypto Trading Mentor

From what I’ve seen and tested, crypto trading copilot models that are on the market today haven’t fully realized their potential. Taking that into consideration, you can create an AI copilot that would review all of your past crypto trades. It can go further than that and decipher global pricing trends while checking how this aligns with your investments.

This copilot, as I envision it, would act as a mentor and advisor, helping you take care of your mental well-being in order to remain at your trading best. This business idea could have a huge market impact as it will offer personalized trading insights and emotional resilience tools — and those are essential in the highly unpredictable crypto market.

Financial Research Institute conducted research and found that copilot trading outperforms human traders both in profitability and risk management. Plus, those who use copilot trading usually achieve much higher returns and lower portfolio volatility. If you combine human reasoning with the bot’s computational power, you are likely to multiply your crypto trading performance by a factor of one thousand.

David Kemmerer, co-founder and CEO of CoinLedger

2. Advanced Personalized Chatbots

If you’re looking for a great AI business idea, why not consider LLM-powered chatbots? They possess extensive niche knowledge and info about clients and can leverage AI’s capabilities to offer highly personalized suggestions for any client. This solution is 100 times more relevant and 10 times more time-efficient than generic articles.

Here are a few examples of how chatbots can be used across different industries. In the cloud hosting niche, a chatbot could analyze a client’s website performance data and use it to predict business scalability and offer tailored hosting solutions. In the world of gaming, it could suggest games based on the players’ gaming history and preferences — beyond simple tags. It could go as far as to offer tips and strategies!

As it will encompass complex data, image, and voice analysis, I think AI integration in chatbots could revolutionize customer engagement.

It’s considered that such technologies could add up to $1 trillion annually in global banking alone (and the aggregate value addition across all markets could be much, much higher — up to several trillion dollars). This is the best proof that the revolution has already begun.

Lucas Wyland, founder of Steambase

3. AI-Customized Learning Platforms

You can utilize AI to create custom learning experiences. Just imagine a learning platform that changes its teaching style based on how you learn best. This is significant because we all want the opportunity to learn in a manner that fits our style.

Here, AI would adjust to each individual. It would observe how you learn and change the content to match your pace and interests. You’ll agree that this will keep students engaged and improve their learning (and overall experience).

Real examples like Coursera are starting to use AI, but this specific idea would take it much further. Also, tools like DreamBox Learning show that custom learning really works, especially for younger students.

Eric Lam, head of business strategy at San Francisco Tax Appeal

Read our interview with Ken Hubbell to gain valuable insights on how AI is revolutionizing education and the future of EdTech!

4. AI Benefits for Industrial Efficiency

While there may be an initial investment, there’s also great potential to save in the long term because AI could make improvements regarding energy efficiency and resource utilization. Furthermore, AI systems are extremely scalable, which means they can follow the evolving industry standards. AI can also identify potential hazards and contribute to safety enhancements in the industrial environment.

If you’re wondering whether this idea will be profitable, just consider the ongoing digital transformation in all industries.

Campbell Tourgis, executive vice president and chief operating officer of Wainbee

5. AI Personal Finance Advisors

AI-driven personal finance assistants use machine learning to provide personalized financial guidance and investment strategies. They offer customized advice based on vast amounts of financial data and user spending habits.

These tools democratize financial expertise, which was previously available only through expensive financial advisors. In my time at MaxCash, we’ve seen a surge in demand for financial tools that empower individuals to make informed decisions.

An AI personal finance assistant could really change the way people manage their money. One of NVIDIA’s predictions for 2024 even says that businesses will use generative AI to mine unstructured data — uncovering new opportunities in finance and other sectors.

Fred Winchar, certified HR professional & founder of MaxCash

6. AI-Enhanced Recruitment Targeting

As a recruiter, I think AI-written job postings will likely be the way of the future, and a company specializing in this service would help busy HR workers narrow down potential candidates.

It’s about personalization. People are more identity-focused and segmented than ever, so reaching discrete groups can be tricky. If you don’t use the right lingo or the preferred social media app, you might miss out on an entire audience of potential hires.

Artificial intelligence can utilize existing data to tailor job advertisements tightly, singling out small groups and even individuals with personalized messages.

If companies could target their dream candidates with ads only they see, geared to their wants, needs, and interests, it would certainly be a game-changer for the industry.

Linn Atiyeh, CEO of Bemana

7. Efficient AI Copywriting Agent

Every company that does marketing should be accelerating their work with AI chat agents. We built a copywriting chat agent that gets the work done faster and at a greater volume and delivers higher ad performance than ordinary human copywriting.

The chat agent is set to capture details about the campaign (business type, vertical, transformative value, target audience, etc.) and will even scan the website for pertinent language. From there, it is trained to deliver ad copy in spec based on proven copywriting frameworks.

Once delivered, our team compiles the copy, reviews it, edits it, and sends it to the client for approval. Cost savings are passed on to the clients. The work is done faster, and we can iterate quickly on ads that work. Considering that copywriters make $50,000 to $150,000 per year, this solution can save some of that cost annually.

Robert Brill, CEO of Brill Media

8. AI-Personalized Nutrition Plans

A great AI-powered business idea is a personalized nutrition app. It would literally be like having a personal nutritionist in your pocket. AI-created nutrition plans would consider users’ lifestyles, biometrics, and even genetics to provide a perfect nutrition plan.

Aside from meal plans, the app would suggest recipes and grocery lists tailored exactly to the user’s nutritional needs. It has huge market potential, too. This solution caters to fitness enthusiasts, people with specific dietary needs, or just a regular Joe looking to eat healthier. An example of real-world viability is Nutrigenomix, which is exploring nutrition advice based on genetic data.

Zephyr Chan, founder & growth marketer at Better Marketer

9. AI-Optimized Delivery Management

One AI-powered business idea that I would recommend for entrepreneurs in 2024 is one that focuses on optimizing the delivery process.

The way we deliver goods and services to our customers has always been a challenge for businesses. It’s a problem that has plagued us since the beginning of commerce, but now, with the help of AI and machine learning, we can optimize the process from start to finish.

For example, if you’re running an e-commerce store, you can use AI to manage your inventory — getting rid of what you don’t need any more while predicting what you’re going to need next month or next year and ordering accordingly.

You could also use AI to manage your customer service team. They could focus only on those customers who need help right now instead of spending time answering emails that could wait until tomorrow or next week (or even next month).

Paul Eidner, chief operating officer of CarnoGel®

10. AI for Retail Merchandising

In 2024, many entrepreneurs will likely be leveraging artificial intelligence in innovative ways. One such concept is to use AI for automated visual merchandising decisions. This idea also has a considerable potential market impact, as it would save retailers valuable time and money by having AI recommend optimal product placements for upcoming promotions.

For example, some companies have already incorporated AI into their storefronts to optimize the user experience and create more intuitive interfaces by using data analysis of usage habits among the audience.

Michael Alexis, CEO of teambuilding.com

11. AI-Driven Fraud Detection Software

Developing AI fraud detection software is a promising business idea for 2024 — particularly for the financial sector. Manually detecting fraud is a complex and challenging task, and AI can make it a breeze. These systems can use machine learning algorithms to go through copious amounts of data and successfully pinpoint fraudulent patterns.

However, to start an AI business focusing on fraud detection, you must have technical expertise in specific domains. You must possess knowledge of data science and machine learning and have a keen understanding of finance in general.

The first step in initiating an AI-based fraud detection system is determining the standard operational processes that the system will handle. After that, you need to create algorithms designed to spot any actions that deviate from these established patterns.

Precious Abacan, marketing director of Softlist

12. Custom AI Sleep Optimization

In 2024, an AI system that provides recommendations on the optimal mattress configuration by analyzing individual health data and sleep patterns could make a boom in the mattress sector. This technological advancement has the potential to provide perfect slumber solutions for any ailment, from regular back pain to sleep disorders.

Instances from the physical world, such as the 360 Smart Bed by Sleep Number, demonstrate the potential for AI integration in the sleep sector to improve consumer satisfaction and well-being as a whole. Naturally, the idea comes with the potential for profit — because we all need a good night’s rest and because it corresponds to the expanding pattern of health-oriented tech.

Martin Seeley, CEO of Mattress Next Day


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12 Artificial Intelligence (AI) Business Ideas