15 AI Business Ideas That Can Disrupt Industries

Are you a forward-thinking entrepreneur who sees AI as a game-changing technology and wants to launch a business around it?  Then this post is all you are going to need!

Artificial Intelligence (AI) is the real deal today, transforming businesses and driving innovation across industries.  Many companies are using AI to automate tasks, get valuable insights, and completely reshape their operations.

And the exciting news is that this booming market is wide open for savvy entrepreneurs like you.  But with so much potential, the question becomes: what AI-based business ideas can I use to make my mark?

While the possibilities are limitless, below we’re going to explore 15 of the most promising and profitable AI business ideas poised to dominate in 2024 and beyond.  Not just ideas, but we’ll also tell you how you can start your AI startup and make money from it.

This is your chance to capitalize on a market projected to reach a staggering $3.6 trillion by 2033 (according to Allied Market Research).

The numbers are clear: AI is in high demand, and it's the perfect time to develop innovative AI solutions that tackle real-world problems.  But, first, let’s understand what an AI business is and why you should even consider starting one.

Why Start an AI-based business?

An AI-based startup leverages artificial intelligence to deliver unique value to customers.  This can be anything from a large corporation using AI to make smarter decisions to a startup creating a revolutionary smart home system.

Here are some reasons why AI presents a golden opportunity for entrepreneurs:

• Disrupt the Game: AI empowers you to disrupt your chosen industry by offering innovative and efficient solutions.
• Level Up: Even against established players with years of experience, AI can help you compete.  It reduces reliance on traditional knowledge and lowers startup costs, creating a more level playing field.
• Growth Potential: Since AI tackles complex problems, optimizes systems, and uncovers hidden patterns, AI businesses have a clear path for growth and a significant competitive edge.

Now, let's delve deeper into the statistics that solidify AI startups as a smart investment...

Current State of the AI Market

By 2025, according to a Gartner Survey, the AI software market is expected to reach nearly $135 billion. This growing market share of AI can be attributed to its increasing adoption across multiple industries, including automotive, healthcare, retail, real estate, IT, etc.

A recent survey also suggests a rise in AI experimentation by businesses across the globe. The poll of 254 tech leaders discovered that 90% are exploring AI platforms like ChatGPT and Gemini, while 80% plan to boost AI investments in the upcoming years.

These leaders see AI business ideas as a way to enhance efficiency, lower costs, gain competitive advantages, and meet evolving market demands.

Aside from this, a report from McKinsey & Company states that generative AI is getting ready to bring a new wave of productivity across multiple business domains.

The impact of Generative AI in business is projected to reach $2.6 trillion to $4.4 trillion annually.

On that note here are some notable facts that you need to know when it comes to starting an AI business in the current digital landscape:

• Approximately 75% of the value from generative AI use cases will be mostly constrained to four core areas: customer operations, marketing and sales, software engineering, and research and development.
• Generative AI is expected to have a significant impact on numerous industries. Revenues in banking, high technology, and life sciences are projected to fluctuate significantly.
• For banking, the complete application of AI business model use cases might result in an annual rise of $200 billion to $340 billion.
• Similarly, the retail and consumer packaged products industries have the potential to generate $400 billion to $660 billion every year.

List of 15 Best AI Business Ideas

While natural language processing (NLP) models such as ChatGPT helped to popularize AI, it is valuable for more than just generating text-based replies to user questions.

Instead, as large language models (LLMs) help computers better understand human language a floodgate of AI-based tech business ideas has opened.

Entrepreneurs can now launch a business using AI to provide a personalized experience for each customer.

We conducted extensive research and developed a list of 15 AI business ideas for startups that can result in the highest ROI.

1. AI-Based Retail Assistance Solution

Starting with one of the AI-based business ideas that are revolutionizing the retail industry, AI-based retail assistance solutions offer personalized customer services, recommendations, and seamless shopping experiences.

These AI assistants use natural language processing and machine learning to understand customer preferences and offer personalized product/service recommendations.

With a projection of global AI in the retail market to reach $40.74 billion by 2030, AI retail assistance appears to be a highly lucrative business opportunity for retailers looking to enhance customer engagement and drive sales.

2. AI-based Lead Generation Tool

The last AI idea for a business in this list is building an AI-based lead generation tool that helps companies streamline the process of identifying potential customers and clients for a business.

By leveraging advanced AI algorithms, this tool analyzes large amounts of data to pinpoint individuals or companies most likely to have an interest in the products or services offered.

By analyzing online behavior, demographic information, and other relevant data points, the AI lead generation tool can generate a list of high-quality leads that sales and marketing teams can then target.

This technology not only saves time and resources but also enhances the accuracy of lead identification, which makes it clear about its increasing demand in the future and why this is one of the most profitable AI business ideas for you.

3. AI-Based Entertainment Platform

Another intriguing AI startup idea is an AI-powered entertainment portal.

The integration of AI is transforming the entertainment sector. AI-generated content and personalized suggestions are changing the way people create content and engage with it.

By 2030, AI in the entertainment market will be worth $99.48 billion, creating attractive prospects for entrepreneurs and entertainment companies to harness AI technologies.

Recommended Read: What is the Role of Movie Streaming Apps in Redefining Entertainment?

4. AI-Driven Recruitment App

Best for the human resource department, an AI-driven recruitment app is one of the best AI business ideas that can effectively filter and shortlist individuals applying for jobs.

HR managers can save a lot of time and money using AI algorithms to evaluate resumes, conduct interviews, and forecast applicant fit. Moreover, they can expedite the hiring process, dedicating more time to strategic tasks.

Additionally, AI-based recruitment web portals can help businesses reduce recruitment costs by eliminating the need for lengthy manual screening processes and minimizing the risk of hiring the wrong candidate.

5. AI Marketing App

Using AI algorithms, AI-based marketing mobile applications can provide businesses with valuable insights and automation capabilities.

These apps are a few of the notable examples of technology business ideas using AI that allow businesses to target their audience and deliver personalized experiences precisely.

From analyzing customer behavior and preferences to developing effective Ad campaigns, AI-powered marketing solutions can help you stay ahead of the competition and create a lasting impact on your customers.

This makes them one of the most profitable AI business ideas in this competitive landscape.

6. AI-Based Logistics and Supply Chain Management Solution

AI-driven logistics and supply chain management (SCM) solutions can help businesses optimize operations, enhance efficiency, and reduce related business costs, making them one of the best AI startup ideas for the future.

Using an AI algorithm, you can build an AI-based logistic and SCM application that can predict customer demand, optimize routes, and monitor inventory, allowing businesses to achieve seamless supply chain operations.

Related Read: The Role of Information Technology in Supply Chain Management Explained

7. Generative AI-Powered Content Creation Tool

Generative AI is transforming the landscape of content creation, presenting a compelling business opportunity for entrepreneurs aiming to maximize ROI through innovative technology.

Generative AI content creation tools like ChatGPT, Jasper, Writesonic, etc., help users to produce diverse content forms, from articles and graphics to personalized videos, significantly streamlining the content creation process.

By developing a GenAI-based content creation tool, you can tap into a lucrative market opportunity, catering to a wide range of industries that demand rapid, high-quality content creation.

This capability of integrating generative AI in business can also help you maintain a competitive edge in the fast-paced digital landscape.

As the generative AI market is expected to become a $1.3 Trillion Market by 2032, the significant growth highlights an ideal timing for you to embrace generative AI ideas for business and invest in developing AI-based content creation tools.

With the increasing demand for streamlined and automated content creation in different industries, if you innovate in this space, you have a chance to capture a substantial market share.

This makes GenAI one of the most promising AI business ideas in 2024 and beyond.

Dig Deeper: What is the Role of Generative AI in Drug Discovery? 2024

8. AI-Based Healthcare Applications

Robust AI-based healthcare tools can change the whole medical ecosystem, paving the way to bridging the gap between patients and doctors.

These innovative healthcare apps can help medical professionals with easy diagnostics, treatment planning, and patient care, making them one of the top AI start-up ideas in today’s digital world.

There are many use cases around the integration of AI in the healthcare industry. AI has the potential to make a big difference in healthcare.

Whether we consider AI-backed automation in EHR, scheduling for doctors, or health tracking for patients, the role of AI in the domain is massive.

Also Read: Top 10 Hospital Management Software in India

9. AI eLearning Platform

With the increasing demand for online education, AI-based eLearning platforms are becoming popular options offering personalized learning experiences.

This makes them one of the best AI business ideas for entrepreneurs to drive into. These education applications use AI algorithms to examine learner behavior and preferences, allowing them to adapt the content accordingly.

An AI eLearning platform can create personalized learning paths that optimize knowledge retention and engagement by understanding each learner’s strengths, weaknesses, and preferences.

10. AI Energy Optimization Solution

Another lucrative AI and machine learning startup idea is the AI-powered energy optimization solution that works as a smart tool to help businesses save energy and money.

The solution uses artificial intelligence algorithms to study energy use and find ways to reduce waste. By using AI, businesses can reduce their utility bills and contribute to protecting the environment.

In this way, you can also show your target audience that your business cares about being eco-friendly, which can ultimately improve your brand image.

As AI in the energy market is projected to reach $19.8 billion by 2031, these types of AI business ideas are a few of the more profitable options for entrepreneurs to dive into. That means you also should explore this opportunity.

11. AI-Driven Cybersecurity App

AI-based cybersecurity applications are becoming increasingly valuable in the recent digital era ruled by cyber threats and data breaches.

By using machine learning algorithms to identify and address cyber threats in real-time, AI-based cybersecurity solutions protect businesses against malware and security attacks while safeguarding sensitive data.

The AI cybersecurity market is expected to reach $93.75 billion by 2030, which makes this AI startup idea worth diving in.

12. AI-Based Smart Finance Robotic Process Automation App

By building and launching an AI-based Smart Finance RPA app, you can also enter the AI ecosystem.

This application automates several repetitive finance tasks, saving time and money, reducing errors, and improving compliance.

Starting this AI app means you can help other businesses streamline their financial operations and improve efficiency by automating processes like invoice processing, reconciliation, and tax filing.

With a well-designed RPA app, you can provide cutting-edge financial solutions to meet users' needs and stay at the forefront of the AI revolution.

Interesting Read: Top 20 Fintech Startup Ideas to Consider in 2024

13. AI-Generated Personalized Nutrition Plans

When searching for the most profitable AI business ideas you can also consider building an AI platform that offers personalized nutrition advice based on individual health data and needs.

Users can share their health information, dietary preferences, and personal goals with the platform.

Aside from that, you can also add factors like allergies, dietary restrictions, and lifestyle preferences to offer personalized solutions to users.

Moreover, you can add features on the platform to offer recommendations based on user feedback.

As more and more people are becoming serious about their eating habits, the demand for these AI-generated personalized nutrition plan apps is expected to increase in the future.

Also Read: Steps to Build A Medicine Delivery App Like 1mg

14. AIoT App

Starting an artificial intelligence of things (AIoT) startup that uses smart sensors and cloud computing to transform industries is also a great option.

One of the successful AI business ideas for entrepreneurs in the fast-paced environment is to offer solutions such as predictive maintenance for industrial equipment, energy management for buildings, and environmental monitoring for agriculture.

However, for a perfect launch, it’s essential to identify a specific problem your target customer faces.

Then, develop a prototype of your AIoT device and comprehensively test your AI product ideas using real data to present it well to potential investors and customers.

15. AI-Based Customer Relationship Management Systems

You can develop a customer relationship management (CRM) system that uses ML to analyze customer behavior, predict future purchasing trends, and personalize marketing content.

This type of technology also allows businesses to add virtual assistants on their websites to offer immediate assistance to their customers, such as helping them find a suitable shoe size or a smartphone under their budget.

Must Read: Generative AI Models: Everything You Need to Know

How Do AI Businesses Make Money?

Now that we have covered some of the most thriving AI startup ideas for 2024, you must be interested to know how you can make money from any of these AI-based businesses.

From building a generative AI content creation tool to an AI-based recruitment app, there is an abundance of AI business opportunities waiting to be explored.

As an entrepreneur who is just starting out or already running a business, you can capitalize on tech business ideas creating an AI-driven business model that carer to diverse industries.

Here are some go-to-market and monetization models that you can consider.

• SaaS subscription Model: Users subscribe for access to cloud-based AI software by seats or usage metrics.
• Transactional Model: Charge a small fee per AI-powered API call or compute transaction
• AI-as-a-service Model: Become an AI/ML development shop, creating custom solutions.
• AI Advisory Services: Consultancies help businesses strategize and implement AI.
• Hardware Model: Sell smart IoT/edge devices with built-in proprietary AI capabilities.

You Might Also Like: 10 Must-Know AI Trends to Watch in 2024

How You Can Start an AI Business

If you’re an individual driven by an entrepreneurial spark and a profound fascination with artificial intelligence, starting an AI-based startup presents a perfect opportunity to generate profits while leaving a significant imprint on the world.

However, like any fresh business endeavor, there are a few factors that you need to consider when you’re starting an AI business.

The first and most important thing is to understand AI technology comprehensively and its potential applications.

This knowledge will not only help you lay the foundation for meaningful product or service innovation but also enhance your ability to present your business concept persuasively to potential investors.

The second point you need to keep in mind is assembling a capable team of AI experts, as they will be the ones who will turn your idea into reality.

At last, a robust marketing strategy is crucial to ensure that your target customer base is well-informed about your offerings.

By considering these fundamental components securely in place, you’ll be poised to commence an AI business venture with the potential for lasting success.

Final Thought

There are plenty of AI business ideas covering numerous industries and areas of innovation. From retail and healthcare to finance and logistics, AI has the potential to revolutionize the way we live, work, and interact with the surroundings around us.

As this technology continues to advance, there has never been a better time to explore the possibilities for AI-based startups.

Whether you’re an experienced or an entrepreneur who is just starting, there are limitless possibilities to create innovative, impactful, and profitable AI solutions.

So, if you’ve decided which business idea looks more promising to you and want to know how you can build it, contact a reputable AI development company such as Arramton Infotech.

We’ve been delivering innovative applications for more than five years and have a team to work with different industries and AI projects.

Get in touch with us today and take the first step towards launching your successful AI business.

Frequently Asked Questions

Q. What is the best AI business to start?

Ans. There's no single "best" AI business.  The key is to find a problem with a real-world need and solve it with AI. However, some popular AI business ideas include AI-based healthcare apps, AI-driven cybersecurity solutions, AI marketing apps, AI-based customer assistants, and e-commerce personalization platforms.

Q. Is an AI company profitable?

Ans. As the AI market is expected to grow in the future, an AI company can be considered to be profitable. However, profitability depends on the business idea, market demand, and execution.  Even though AI has vast potential, careful planning and a strong business model are crucial.

Q. What is the most funded AI startup?

Ans. OpenAI received the highest VC funding, with $14 billion in 2023.

Q. How can I make a lot of money with AI?

Ans. You can make a lot of money with AI by solving a genuine problem and building a sustainable business model. You can consider monetization options like subscription fees, pay-per-use, or data analysis services. In general, you should focus on offering value rather than making money.

Q. Which country invests most in AI?

Ans. The US and China are major AI investors, but many countries are increasing their focus on AI research and development.

Q. How do I start a small AI business?

Ans. You can start a small AI business by identifying a problem and validating your idea.  Then build a strong team, gather data, and choose the right AI tools.  Focus on a Minimum Viable Product (MVP) and iterate based on user feedback.