Let It Do The Work, You Collect The Cash: 'Shark Tank' Investor On How To Generate 'Thousands' In Passive Income Each Month With AI

As companies scramble to add AI to their workflows, the AI boom is really just getting started. If you are looking for a way to generate passive income, maybe you should try letting AI work for you. 

What To Know: Matt Higgins, co-founder and CEO of RSE Ventures, has been featured as an investor on "Shark Tank," has taught at Harvard Business School, and he's helped to run two NFL teams, but if he had to start over again, he would use AI to generate "thousands" a month in passive income, per a CNBC report.

The way to do it is to identify a fast-moving trend in a specific niche and use AI to become an "expert" in a short period of time, he said. 

"Scour the internet, go through TikTok and Instagram, watch YouTube videos and consume every AI tweet. Then distill everything you learned into a comprehensive document," Higgins said.

Next, take the document and upload it into an online course creator like Courseau, which allows you to transform the text into an organized online course in minutes with the help of AI. 

After you've made the course product, you can use AI to come up with a name and logo for your brand. You can also use AI tools to build a website and generate marketing materials. 

Check This Out: Matt Higgins On Stage At VeeCon 2023: How To Think About AI, Win Long Term

Higgins recommends using Microsoft Corp (NASDAQ: MSFT)-backed ChatGPT to come up with a marketing strategy.

"All you need to do is study up on the best prompts to get the most out of this magician," he said. 

You can use ChatGPT to write newsletters, email campaigns and even come up with viral tweets, without writing any of it yourself, he added. 

Then you can sit back and let the passive income from your new brand grow. 

If you get really good at prompting ChatGPT to spit out ideal information, you might even be able to land a gig as an "AI content assistant."

According to a separate report, individuals who are able to take raw content and use AI to turn it into marketing material, newsletters and social media posts are in high demand and can make good money. 

As an AI prompter or assistant, you can charge anywhere from $20 to $100 per hour and offer your services on freelance sites. The trend is just getting started and as more companies look to incorporate AI, more companies will be looking for help being efficient with tools like ChatGPT.

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This illustration was generated using artificial intelligence via MidJourney.

This story is part of a new series of features on the subject of success, Benzinga Inspire.