Artificial Intelligence or its abbreviation A.I is a sub-field of Computer Science that is growing exponentially and soon there will be a time where every single process in this world needs automation. This will be achieved intelligently by AI, we should be ready to contribute in this era with our cutting edge knowledge of AI.
But before that, did you ever think, how can you make tons of money with this skill?
If you also have this question floating in the back of your head, you are at the right place!
Here I am going to give you 10 valuable tips. If you implement these tips with persistence, guaranteed you will easily make 1 Lakh Rs(1500 $) per month. But remember, you have to be persistent. If you start something and leave it in the middle, you won't be able to earn anything.
THERE IS A SURPRISE FOR YOU AT THE END.
Without any further delay, Let's get started!
1. Machine Learning Educator
The easiest and most straight forward thing you can do is to become an ML Educator and educate the mass of students on an online portal and that portal will provide you monthly income. Decide a certain time of your day and record videos on topics of Machine Learning and upload it on the portal.
The students will watch your videos, learn new things, get inspired by you and you will receive a good amount of monthly income, a tag of ML Educator, experience to teach and recognition.
A win-win situation.
You can use Unacademy as a platform to start this earning.
2. Publish an E-book
I know it is a pain to publish a book. But when it comes to e-book, you can publish it on your own website and promote it or you can reach out to a publisher's website who already has the audience on their webpage, this will help your book to reach masses easily.
Enough about how to publish, let's come to what to publish. With the help of your analytical mind, you can understand a topic very differently than another person. If your understanding and way of thinking that topic is easy, pour it on an e-paper, gather many topics and write an e-book on it.
Publishing an e-book is the most awesome thing you can do because it can generate a passive income. Initially, you have to give time on brainstorming and writing down an amazing book that can help people and after you publish it, BOOM, you will receive money as a royalty every time someone buys your book.
you can try orange publishers or try to find your own publisher after you write the book. Mind you, if you are considering this idea, Write a book that can solve a problem, don't write a book just for the sake of money.
3. Participate in Machine Learning Competitions
It is my personal advice, even if you don't want to earn money through ML, you should participate in ML competitions and challenges organized by many institutions and websites.
The experience you will receive from doing a project in a limited time and resources will be invaluable. You will gain the skills in several days which you were trying to master for almost like a year.
And the side benefits are:
If you win the competition, you will receive a handsome amount of money, recognition and a great point to flaunt in your friend circle (an evil smile).
A great website to compete Kaggle.
4. Collect data and sell it to Companies
We all know as an ML enthusiast that "data is the fuel and computing power is the engine of Machine Learning."
You can earn money by collecting data. For example, For the project of predicting the Indian population in the next 10 years, we need data on the count of family members in a house. You can collect this data in your area and sell it to the company who needs it.
The only challenge is to find those companies that are in need of the data, which can be found online.
5. Annotation of Data
Machine Learning and Deep Learning algorithms give good predictions on supervised data, that is, the data which is properly labeled, that is if I have an image of the dog, I must have a label which states where exactly my dog is in that particular image and the label that it is "Dog".
For annotations of image and audio, Machine Learning companies and institutions pay a good amount of money.
You can reach to Amazon Mechanical Turk which is a crowdsourcing website for businesses to hire remotely located crowd workers to perform discrete on-demand tasks that computers are currently unable to do.
6. Internships and full-time job
This is also a very straight forward method to earn a handsome paycheck. Provide value to a company by making use of your skills in the field of Machine Learning.
Nowadays, when the field of Machine Learning is blooming like anything, it is very easy to earn 1 Lakh(1500 $) Rupees per month, if you possess the relevant skills.
One thing to remember, and I am quoting from an all-time great book I read:
"Before you even start to negotiate for readjustment of your salary in your present position, or to seek employment elsewhere, BE SURE THAT YOU ARE WORTH MORE THAN YOU NOW RECEIVE"
You can get employment and internships from several sources, Some of them are listed here:
Linkedin (stay connected to me. I have hired an ML Intern recently and I may require more in future)
7. Freelancing Machine Learning jobs
After a full-time opportunity, we come to independent working. Freelancing sounds cool and easy to do, but it is more difficult than a full time 9-7 job.
Do you know why?
Because it requires an insane level of discipline.
Think there is:
No one to regulate on you
No one to poke you
No one to ask updates from you
if you have a team working for the project, you have to manage human resource too
Will you still work? 90% of people won't.
But if you master self-discipline and possess relevant skills to solve customer's problems, you can easily earn 1 to 1.5 Lakh per month by doing freelancing.
Some of the freelancing Websites are:
8. App Development on Machine Learning
One of the wonderful ways to make money from ML, Because again it can generate your passive income. You don't have to trade time for money every day as you were doing it in many of the above cases.
Learn relevant skills to make a mobile or web application which enables machine learning tool in it and make money through it.
For example, you can create a voice to text generator app and upload it to the internet for the usage of other people. After a certain voice to text conversions, make your application premium and charge some money for it.
Recently saw an example like this: Speechnotes
9. Provide service in the domain of ML
You can create a product and provide it as a service to as many customers as possible and earn lots of money from it.
You don't have to work every time for money and you will get free time to spend on yourself and your family.
For example, you can create a chatbot that is trained to answer many quarries with no human intervention. It will save the website-owner's time and let them devote their time to other things to grow their business. A much-needed tool nowadays and they will pay you a good amount of money for this crucial service.
For more information, you can read about it HERE
10. Counseling Students to excel in AI their journey
As an A.I fresher, many of you might have thought:
How to start learning AI?
What are the prerequisites you have to follow to start learning AI?
Which parts of AI should you prioritize to learn sufficient AI?
Artificial Intelligence practitioners and experts can charge a nominal amount of money in exchange for their time to guide AI enthusiasts who are struggling in the path to learn AI.
NOTE: Currently, I am counseling for free on my Instagram page here: Gaurav Chatterjee
Soon the free service will be terminated.
Follow me on Instagram for more updates on AI, Machine Learning, Deep Learning, and Data Science.
If you apply any 2 methods parallelly by wearing perseverance upon your sleeves, I guarantee you that you will earn more than 1 lakh rupees (1500$) per month.