5 Ways to Make Money Using ChatGPT

Did you know that you can make money using ChatGPT? Since its inception in 2022, ChatGPT, and other Generative AI tools have taken the job market by storm. Over the past year, we’ve seen how it has rapidly expanded and improved work capabilities. Professionals, entrepreneurs, and leaders are beginning to use it to accomplish a range of tasks that enhance business profitability, job satisfaction, reduce workload, and increase customer satisfaction.

It’s overtaken the job market so much that it’s now become one of the core in-demand skills for one to thrive and succeed in today’s workforce. Now, the share of employers listing ChatGPT and AI-related skills in job listings has increased 21 times since 2022, and it is evident that candidates who possess these skills have the potential to stand out above the rest.

But beyond this, learning how to use ChatGPT effectively offers a host of other career-related benefits. You can use it to help you land a promotion, negotiate a conflict at work, and even boost your annual income beyond your regular salary.

The World Economic Forum’s Global Risks 2023 report listed the cost of living crisis as a major risk threatening the global population for the next two years; and to make things worse, 2024 already seems to be off to a bad start. Major firms have already announced their plans to lay off staff, with Big Tech companies such as Google, X, and Amazon initiating layoffs, and investment banking firm Citigroup announcing plans to cut 20,000 roles following a steep decline in revenue.

Whether you’ve found yourself impacted by the latest rounds of layoffs or not, finding ways to boost or supplement your income, even if it’s just temporarily, is essential to survival in this turbulent and highly competitive job market.

First, you need to understand how ChatGPT works. ChatGPT is a Generative AI platform that can accomplish a variety of tasks. One of the main reasons it is so effective is because the chatbot has the ability to maintain conversational, almost human-like language, which can be adapted to different scenarios such as explaining text, answering your questions, assisting with brainstorming, and sparking innovation in the workplace.

To use ChatGPT effectively, you don’t need to be a tech or coding genius. You simply need to know how to feed it the right information and the best prompts to get maximized results.

If you want to turn ChatGPT into a tool that accelerates your career growth and simultaneously, your pocket, here are five options for you to consider.

1. Use ChatGPT To Help You Land A Promotion/Pay Raise

You can use the chatbot to aid you in pitching yourself to your employer for a promotion, and consequently, a pay rise. If you feel you deserve to step up the ladder this year but don’t know how to structure your thoughts or your accomplishments to date in a way that will persuade your employer, you can input your ideas and list your achievements in the application, and ask ChatGPT to formulate a strong argument for you to present in your next performance review.

You can also use it to assist you in other aspects of the process; for example, you could ask it to give you an outline for a presentation, suggest relevant skills necessary for your promotion, provide you with potential interview questions for the role you’re pursuing, and enhance (not entirely create) your resume to make it for the leadership or management level.

Additionally, you might also want to consider using ChatGPT to help you draft personalized, effective work correspondence, or develop complex solutions that position you as a high-performer in your role and industry—an essential and desirable quality for an aspiring leader.

2. Sparking Innovative Business Ideas

ChatGPT is a useful tool to help you with brainstorming. If you’re feeling at a loss and overwhelmed by your financial circumstances, particularly if you’ve taken a hit after being laid off, you can ask ChatGPT to suggest a range of innovative and unique business ideas suited to your skills, expertise, and circumstances.

You can also ask it to provide you with a project plan for all the actions you will need to take to start your side hustle or next major entrepreneurial venture, and a list of all the resources you will need.

3. Passive Income With ChatGPT’s GPT Store

The newly-released GPT Store has the facility to allow developers of custom GPTs, the ability to earn passive income through monetizing their creations. All you need is to follow OpenAI’s guidelines, create a custom GPT that answers a need that you know will appeal to most individuals in your chosen market, and set the settings to “everyone” so it can become public.

4. Build A Product Or Service Outside The GPT Store

A fresh wave of start-ups has been popping everywhere over the past year, thanks to ChatGPT and what has been termed the “AI boom.”

This is because entrepreneurial thinkers have found unique ways to seize and capitalize on the opportunities afforded by ChatGPT and its underlying technology, before the chatbot’s maker even launched the GPT Store. Get creative and think outside the box, of ways you can fill a potential gap in the market using AI. You could even create a browser extension. Building a ChatGPT-based product has the potential to create a legacy and sustainable income for many years ahead.

5. Content Creation

ChatGPT can be an extremely helpful tool in reducing time and boosting creativity when developing content for purposes such as blogging, self-promotional and marketing material to establish one’s personal brand, and even website copy. This helps attract potential customers to your personal brand and services, thus increasing your income.

However, it’s essential to remember not to depend on ChatGPT to generate everything. Over-reliance can lead to your copy looking like every other AI-generated content out there, which makes customers distrust you because you lack authenticity. Use AI to brainstorm ideas, suggest potential content outlines, and guide you in the writing process, but always ensure it is human-led and tweaked appropriately.

Today, think about how you can apply ChatGPT to your career and work environment. Not only will you notice a plethora of untapped career opportunities open to you, but you will be able to increase and even multiply your salary.