Lecture Notes: Opportunities with OpenAI’s GPTs in 2024

Introduction

• Presenter: Liam Otley
• Background: Runs Morningside AI – a six-figure AI development company; Largest community of AI agency owners.
• Main Focus: New GPTs product by OpenAI – potential AI opportunity for 2024.

Overview of GPTs

• GPTs: Tailored versions of ChatGPT specialized for specific use cases.
• **Examples of GPTs: **
  • AI Yoga Coach
  • Luxury item authenticator
  • Real estate data analyst
  • Sales rep coaches for solar companies
• Platforms Using GPTs: Shopify, Snapchat, Canva, etc.
• Key Components:
  • Prompting: Written instructions to guide AI behavior.
  • Knowledge: Ability to add custom data files like PDFs, docs, CSVs.
  • Actions: Use existing or custom capabilities to perform tasks beyond text responses.

Opportunities to Make Money with GPTs

1. Build GPTs for the GPT Store

• What it is: Marketplace launched by OpenAI for listing and monetizing GPTs.
• Key Points:
  • Revenue Sharing: Potential for revenue sharing on popular GPTs.
  • Challenges:
    • Explosive growth anticipated; low-hanging fruit will be commoditized quickly.
    • Need to create unique, defensible GPTs with private data sources or APIs.
  • Strategy:
    • Start by learning and becoming proficient in building quality GPTs.
    • Build developer reputation on the marketplace.
    • Find unique datasets to differentiate offerings and avoid competition.

2. Build Custom GPTs for Businesses

• General Idea: Help businesses implement custom GPTs specific to their needs.
• Approach: AI Automation Agency model to continually adapt and update solutions for clients.
• Key Benefits:
  • Assistant API: Create potentially powerful and tailored AI assistants for business applications.
  • Long-term Revenue: Upsell new features and updates.
  • Steps to Implementation:
    1. Learn how to integrate GPTs on websites.
    2. Pick a niche to focus your efforts.
    3. Offer free builds or AI audits to start.
    4. Transition to charging for services.
  • Extra Info: Join Liam's AI Business Accelerator for step-by-step guidance.

3. Specialize in GPT Strategy and Development as a Freelancer

• Reasoning: High demand for freelancers skilled in GPT development due to numerous emerging agencies.
• Comparison: Similar to "selling the shovels" in a gold rush.
• Steps to Success:
  1. Learn Basic Coding: Python and JavaScript.
  2. Build Your Own GPTs: Gain practical experience with the Assistant API.
  3. Join a Community: Consider joining Liam’s community to connect with businesses and agency owners.
  4. Build Personal Brand: Maintain a website, possibly use platforms like LinkedIn or YouTube to showcase your work.

Additional Resources

• Videos and Guides: Liam offers various video resources on building GPTs, finding unique data, and more.
• Community Links: Free Discord and paid community options available for further support and networking.

Conclusion

• Key Message: Great potential in GPTs for 2024 with multiple avenues for monetization.
• Call to Action: Engage in continuous learning and community participation to stay ahead in the AI development space.