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Opportunities to Make Money with New GPTs in 2024

Jul 23, 2024

New GPTs Opportunity in 2024

Overview

  • The launch of OpenAI's new GPTs presents a significant opportunity in AI for 2024.
  • Large companies like Shopify, Snapchat, and Canva are adopting tailored versions, indicating a market shift.
  • Anyone can now create customized GPTs quickly and join this growing industry.

Speaker

  • Liam Otley, a six-figure AI development company owner and community leader for AI agency owners.

What Are GPTs?

  • GPTs are tailored versions of ChatGPT, customized for specific companies or use cases.
  • Examples:
    • AI Yoga Coach
    • Luxury Item Authenticator
    • Real Estate Data Analyst

Three Key Ingredients for Creating Powerful GPTs

  1. Prompting
    • Instructions guiding the AI's behavior and responses.
  2. Knowledge
    • Ability to add custom data sources (PDFs, Docs, CSVs) for more informed responses.
  3. Actions
    • Integrate OpenAI functionalities like DALL-E, Code Interpreter, or custom actions.

Three Biggest Opportunities to Make Money with GPTs

1. Build GPTs for the GPT Store

  • OpenAI will launch a marketplace for GPTs with revenue sharing for popular models.
  • Strategy: Three Steps
    1. Start building GPTs: Get hands-on experience and build quality models.
    2. Build developer reputation: Establish presence and credibility early on the marketplace.
    3. Find unique datasets: Create GPTs that leverage exclusive or private data to avoid commoditization and competition.
  • Note: Marketplace competition will be high; unique data is vital for defensibility.

2. Build Custom GPTs for Businesses

  • Main revenue from GPTs will come from tailored solutions for businesses via the Assistant API.
  • Helps businesses integrate and automate AI functionalities directly into their systems.
  • Strategy: Four Steps
    1. Learn how to put GPTs on websites: Understand the processes and techniques.
    2. Pick a niche: Specialize in a specific industry (e.g., coaching businesses).
    3. Offer free builds or audits: Provide a free service to get initial clients and showcase capabilities.
    4. Start charging for services: Convert free initial services into paid offerings.

3. Specialize in GPT Strategy and Development as a Freelancer

  • There will be a large demand for freelancers who can effectively use the Assistant API.
  • Strategy: Four Steps
    1. Learn basic Python and JavaScript: Important for creating advanced GPTs.
    2. Start building assistants: Gain practical experience using the Assistant API.
    3. Join a community: Connect with agency owners and potential clients.
    4. Build your personal brand: Create a website, post on social media, showcase expertise.

Conclusion

  • The GPTs opportunity in 2024 is large and diverse; tailored solutions and unique data are key.
  • Liam Otley's community and resources provide valuable support for those looking to enter this space.
  • Upcoming guides and tutorials are available; subscribing to channels and communities is recommended for updates.

Full transcript