🔋 Supercharge Your Profits: 3 AI Business Ideas + Business Models that Print Millions
Discover how AI can supercharge your business growth. Read how a Snapchat influencer turned an AI doppelganger into a multimillion-dollar venture, and get innovative ideas for your own entrepreneurial
In Today’s Caveminds Journey…
We bring some fire for your weekend!
👰♀️ The Virtual Girlfriend Phenomenon into actionable business models
🥊 Grandpa Google steps strongly into the ring
💎AI tools that will make your life easier
Alright, let’s get started!
The Virtual Girlfriend Phenomenon
💭 Imagine this: a popular influencer Snap-tranced over 1.8 million followers decides to create an AI version of herself. You pay $1 a minute, and suddenly, you're in a virtual relationship with a digital diva.
Sounds absurd?
Meet Caryn Marjorie, the social media sensation who turned the absurd into an income stream that could surpass $5 million a month in no time.
Now, before you roll your eyes and click away thinking "How does this apply to my software, direct-to-consumer (D2C), or agency business?" stick around.
We're about to translate the ethos of Caryn's cheeky idea into actionable business ideas as forward-thinking as they come, even with business model suggestions to plug in. 🔌
✅ Opportunity 1: AI Personal Shoppers for the D2C Sector
So, Caryn created an AI girlfriend and made a fortune. How about you create an AI Personal Shopper for your D2C brand? This AI wouldn't just suggest products—it'd learn your customers' preferences and predict their needs.
You can implement a D2C freemium model that allows your customers to experience the basic AI Personal Shopper service for free, from the AI's recommendations to the final purchase.
Then, offer premium features that could include personalized style consultations, seasonal wardrobe planning, and exclusive early access to new collections.
Think that's too far-fetched? Well, let's run some numbers! 📊
Let’s assume that you have a base of 100,000 customers with an annual revenue of $10 million.
If you see 10% increase in sales thanks to the free version of this service, you’d be adding $1 million to your annual stack.
Add also a premium version at $9.99 per month, and you’d need only 5% of your customers to subscribe to make an extra $599,900 per year.
Adding up, this is around $1.6 million out from this drill. 💸
Potential gains include increased customer engagement, higher sales from personalized recommendations, and an enhanced shopping experience that differentiates her brand.
"Huh, maybe that's not so crazy after all," I hear you saying. You're absolutely right!
✅ Opportunity 2: AI Tech Support in the Software Sector
Turning to the software sector, let's take a leaf out of Caryn's book. She made an AI girlfriend; why not add AI tech support as an add-on service to their existing software subscriptions?
You can apply a Pay-Per-Use model to ensure that customers only pay for the level of support they require.
For this example:
We’ll price the service at $1 per support request.
The AI reduces the workload of the human support team by 50% and you spend $2 million per year on support salaries, this would save $1 million annually.
With an average of 100,000 support requests per month, this would generate $1.2 million in revenue annually. 💸
Potential gains for your company include decreased workload on their human support team, improved customer satisfaction from immediate 24/7 support, and an additional revenue stream from the AI Tech Support service.
"But AI can't replace human support!" Well, dear friend, Caryn's AI isn't exactly replacing human girlfriends, is it? 🫰
✅ Opportunity 3: AI Social Media Manager for the Agency Sector
Lastly, let's consider agencies. With an AI Social Media Manager, you could handle more clients and generate more revenue. This AI wouldn't just automate posts; it would analyze performance and optimize strategy. 🎯
Let's assume the cost of developing and maintaining the AI Social Media Manager is $1 million per year. We'll price the service at $999 per month per client.
If the AI allows you to manage 50% more clients without hiring additional staff, and her agency earns $10 million annually, this would equate to an additional $5 million in revenue.
Assuming she has 100 clients subscribing to the AI service, this would generate $1,198,800 in additional annual revenue.
By applying a licensing model to the AI technology, you can monetize it beyond your own agency by offering it to other marketing agencies or businesses.
If she licenses the AI to 10 other agencies at a cost of $50,000 per year, this would generate an additional $500,000 in annual revenue.
We're talking a 50% increase in client capacity, resulting in an extra $5 million in annual revenue. With additional income from client subscriptions and licensing to other agencies, you could potentially rake in over $6.6 million annually. 💸
"That's a lot of zeros," you're probably thinking. Indeed, it is! 🙌
Of course, you will run numbers that are realistic to your company. But at the end of the day, it's about offering a new, innovative service that meets an untapped need.
🤔 What can we take from the virtual gf?
Remember this: in a world where a Snapchat influencer can earn millions from an AI doppelganger, there's no such thing as "too crazy". Whether you're in software, D2C, or the agency sector, there's a plethora of unconventional opportunities out there, ripe for the taking.
After all, who said business couldn't be utterly nuts? 🌰🌰
⚡️ AI TURBOCHARGING THE PACE
This week in AI has been like a popcorn machine in full swing – just a constant pop-pop-pop of announcements. 🍿
Remember the hype of basically everybody about ChatGPT sending Google to the retirement home?
That was cute.
In a previous edition of our Future Fridays, I was talking about Grandpa Google's slow release. Well, that’s already an old story.
This week they held the Google I/O event, where they showed up with an over 2-hour long keynote and an army of new products, updates, and announcements. Many of these will have a direct impact on our businesses and productivity, and I can tell you that is even more clear now that AI is going to be a much more intrinsic part of our day-to-day lives.
Some of the most relevant updates have to do with Gmail Helper, PaLM 2, Gemini, Bard, Search Labs, Generative Search, Duet, Vertex AI, Project Tailwind, and even Space Invaders. 👉 You can check them all out by clicking here.
I want to reinforce a point that Andrew stated clearly in our third Deep Dive.
SEO as we know it is going extinct.
Even if you didn’t click on any of those articles about groundbreaking news – and I mean, those are BIG updates for the AI space and for your business too –, definitely go and check Andrew’s masterpiece!
It’s clear that Generative AI is set to hog the Google search limelight like a seagull at a chips stand. I mean, and seagulls really go all in there – and it will get to chips mayhem! 🍟
With the upgrades in Bard, release of PaLM 2 and announcement of Gemini, Google got OpenAI and Microsoft at least breaking a sweat! 🥵
But that’s not even all, folks.
Much like the Grandpa Google that caught up with Microsoft in the heated race of innovation, Stable Diffusion is not just keeping pace, they're dancing cheek to cheek with Midjourney in the AI Tango. They’ve just released Stability Animation SDK, after Midjourney announced their 5.1 version last week.
As you can see, it’s clear that this is already much more than just a competition. The stage is set, the curtains are up, and the spectacle of the century is about to unfold! 🎭
So this takes us to our meme of the week section.👇
AI MEME OF THE WEEK
See folks, if we would’ve covered all the things that happened this week, this newsletter could outlast a cross-country trip with your in-laws. But who wants to endure that anyway?
Instead, enjoy this 'shorter than a Caryn Marjorie’s Snapchat story' summary of the entire Google IO event, and basically the week in AI. Just like Microsoft mentioned AI 50 times on its latest earnings call, What about Google? Well… they kind of did the same this time. 🤷♂️
So Robert Scoble's Twitter bio is our pseudo-meme of the week. Look at the next image and you’ll understand why.
You can’t say he ain’t no visionary after all! 🤣
Before You Go…
AI Tools tailored for your business growth. 😉
🧠 Timely is a tool that automates time tracking and captures every billable detail, saving you effort and increasing transparency with clients. With its ability to streamline workflows, reduce timesheet admin by up to 75%, and provide insightful overviews of team activity, Timely empowers you to run smarter, more profitable projects.
🤖 Use Fine-Tuner.ai to build tailored AI agents. This no-code solution allows you to effortlessly manage unlimited data, and seamlessly integrate with any service, offering you an edge in efficiency and innovation.
📊 Puddl.io offers an OpenAI Analytics free tool that provides detailed breakdowns of your OpenAI costs on a daily, weekly, and monthly basis. With features like currency localization and model-wise spend details, you gain a comprehensive understanding of your expenses, empowering you to make informed decisions and optimize costs effectively.
How was today's email, cavebros and cavebabes?
EPIC WIN OR EPIC FAIL?
Don't be shy, give us your thoughts, whether it's a 🔥or a 💩. We promise we won't hunt you down. 😉
Also, got cool stuff or AI Ideas? 🤔💡Talk to us!
🌄 CaveTime is Over! 🌄
Talk to us! 📧 Reply or Twitter DM: @_anothermaxi & @caveminds
Thanks for reading, and until next time, stay primal!
AI gf idea too is too good 🥵
AI gf idea too is too good 🥵