How to Use AI (Artificial Intelligence) to Create Passive Income

We are barely in the beginning stages of an enormous, world changing movement, one that will only accelerate over the next decades, if not years. Its progress is exponential. Its abilities are infinite. I'm referring to artificial intelligence of course. AI is increasingly being used by major companies, from Tesla using it to drive cars to Google re-engineering the way we search the Internet and much more. Soon, AI will be used to do things we can't even imagine at the moment. I mean it was only a few decades ago that no one could have imagined we'd have an internet.

Most importantly, AI will empower us to become passive income creators. This article will touch base on the current methods available to make money passively using the power of Artificial intelligence.

Make Money with AI

Passive Income is a steady stream of profits that keep coming in through often untapped mechanisms. A passive income generator can be any of the investments I've mentioned on here, and the many more I've yet to write about. In the future, people may be more dependent on these types of income, because like it or not, automation will take more than 50% of our jobs. Just read this recent Newsweek article which lists jobs that might not exist in half a century.

However, what if you took the steps now to take advantage of this growing technology. Below are 7 ways you can earn money using AI, including Robo-advising, AI trading bots, AI etfs, gambling predictions and more. I could have listed a lot more, but I wanted to keep the ideas as passive as possible.

1) Robo Advisors

Robo Advisors (or Robo-investing) is one of the easiest ways for a person to start generating passive income thanks to the AI services offered by platforms like Wealthfront and Betterment. These services automate money management so that your money is being put to work wisely with little risk. With the click of a button, their AI software can create emergency funds, pay your bills, and invest the rest based on your goals, risk tolerance and current market conditions. Without selling your investments, you can access loans at 2.50-3.75%, a fraction of the APR on personal loans and credit cards. Their AI can even lower the taxes you pay.

How much does all this cost? Only a 0.25% annual advisory fee on what you invest. No trading commissions. No sales calls. Seriously.

2) AI Trading Bots

There are 2 great ways to invest your money with bots. The first are robots that learn by studying thousands of stocks and makes good investment decisions. These can be set to automate your paycheck from your job and given to perform automatic investments. These are essentially robo advisors, as mentioned above.

The other way can be more costly but also more profitable: Using bots to selectively invest with algorithms. The right way to start is by hopping on with a beginner bot that will teach you the ropes and give you valuable education. I wrote about one such platform that specializes in crypto trading bots.

From there you can move on up to the more expensive bots using the most advanced AI out there. In this regard, Trade-Ideas is the top platform. Trade Ideas is a cloud based Artificial Intelligence stock market analysis platform. Their A.I. watches every stock and ETF in real-time to identify opportunities few are aware of.

3) Hire a Fiverr Developer to Create an AI App

Have an idea for an app? A developer/coder can help integrate artificial intelligence to make the app many times better. For instance, I know of a soon-to-be-released AI app that takes a formal contract written in "legalese" and immediately converts it into an easy-to-read contract that anyone could understand.

For most people reading this, you're probably thinking "No way I can afford a developer." Nonsense. Just use Fiverr. Fiverr is a site where you can create almost any type of product or service for as low as $5. The site has a section of services where you can hire any number of people from around the world to do anything. Some of the services you can find on Fiverr include digital designers, copywriters, and even app developers. A developer in Bangladesh will charge you less than tenth of the fees someone in Los Angeles would!

4. Gambling Predictions

AI is vastly better at predicting things than humans, hence why they've been implemented in the financial industry at every level. Bots can impressively predict other events too, such as sports, politics and even the weather. For instance, you can rent a bot off Fiverr and program it with the safest wagers for blackjack, and just let it go. Obviously, this is a risky endeavor because you don't know whether the program works as well as you think. This is the same as a stock trading bot in that you'll have to do your due diligence and test the bot to see if it works.

If you have a grasp on games and you're ready to wager large sums of your own money on predictions, you can log on to a site like Intertops, and start investing in machines over the long haul. The robots will allow you to invest in things like blackjack, craps, or roulette, where you'll be able to see returns over a long period of time. In blackjack, for example, you could invest in a strategy that will allow you to gradually build up your bankroll and become a solver of the game. You can also consider looking into sports betting, horse and dog racing, and card games like poker.

5) Create Art with AI

Imagine a world where AI is able to create art at a level we were never able to imagine. Well, you won't have to, because AI is already doing this. The following are websites that use artificial intelligence + your imagination to create works of art that might just floor you: Artbreeder, Deep Dream Generator, Deep Art, Create Playform, Nvidia AI Playground, Sketch RNN and NoArtisit.

You can then sell it on innovative exchanges like Niftygateway, where digital art can sell for hundreds of thousands of dollars. Read here to understand why these digital works of art become so valuable.

6) AI Solutions for Cash

This is one of the most lucrative ways to use AI right now, especially by large companies like Google and Facebook. Collect as much data as you can using AI models and then sell it to companies who can profit off that knowledge. Companies and research organizations are always seeking data to improve customer experience, become more competitive and limit the red on their accounting sheets. To limit competition, it's better if you focus on a niche.

For instance, most people know Netflix uses AI to predict what you’re going to watch next. But did you know they use this prediction to make sure that this content is already stored on the closest server to your location? This will ensure this content plays smoothly and at the best quality. For Netflix, they save money by not having to store every movie and series on every server.

If you want to go another step further, you can analyze this data and offer it to companies and foundations for a fee. Use Fiverr to offer these "AI solutions" as a freelance job.

7) AI ETFs (Exchange Traded Funds)

This would be the most passive and conservative investment you can make from this list. An exchange traded fund (ETF) is an investment fund that tracks an index, a commodity, or a basket of assets, which are listed on a stock exchange. For instance, I invest in an ETF that tracks all the best companies involved in clean energy- including Tesla and Nio. This way I don't have to select specific companies to invest in. It is a similar investment to mutual funds, but bought and sold just like a stock on an exchange. This enables an investor to save fees and easily keep track of his or her investment.

Artificially intelligent ETFs are now a reality for investors looking to ride the waves of the market. These algorithm driven funds will be much safer in the long term. In addition, they are a much cheaper option since they wouldn't be managed by live people seeking monetary compensation.

The most well known of these AI ETFs is AIEQ, which beat the S&P 500 last year. AIEQ is powered by IBM's Watson.

AI is great for Newbies

I would advise anyone that's just starting to invest in traditional markets like stocks to use AI through robo-advisors. As mentioned earlier, these robo-advisor companies are very well managed. Not only will you learn quickly, you will be light years ahead of 95% of the traders out there who think they can beat the market. You will also find that you will be saving a ton of money as they are much less expensive than traditional financial advisors. In addition, they are much safer if you are looking to invest a large portion of your current income. You will find that your hard earned money will be working harder for you with AI leading the way.

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