10+ Best & Profitable Artificial Intelligence Business Ideas [2023]

Get ahead of the competition in 2023 with the most profitable Artificial Intelligence business ideas. Discover 10+ top AI ideas to help you create value, engage customers, and increase profits.
Nick

By Nick Cotter
Updated Feb 07, 2024

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This page may feature products from our affiliate partners, which could influence the products we discuss due to potential compensation. Despite this, our evaluations are impartial, based solely on our independent analysis. The content here is intended for informational purposes and should not be seen as legal advice. For professional guidance, consulting with a legal expert is recommended.
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Hey there, future entrepreneurs! Have you ever found yourself daydreaming about the world of tomorrow? A world where artificial intelligence (AI) is as commonplace as smartphones are today? Well, pinch yourself, because that future is here, and it's bursting with potential for those with the vision to seize it.

As we step into 2023, AI isn't just some sci-fi concept anymore. It's real, it's here, and it's creating a goldmine of business opportunities. Whether you're a tech enthusiast, a seasoned businessperson, or a budding entrepreneur, there's a slice of this AI pie for everyone.

But where to start, you ask? Fear not, because we've got you covered. This article is your treasure map, pointing you towards the 10+ best and most profitable AI business ideas for 2023. It's time to turn those daydreams into reality. So buckle up, and let's embark on this exciting journey together!

Ready to dive in? Let's get started!

Automated Customer Service

Automated customer service is a system designed to fulfill customer requests and inquiries without relying on human interaction. It can be implemented through multiple mediums, such as phone lines, websites, apps, and live chat systems. Automated customer service offers many benefits that make it an attractive business idea.

  • Reduces cost: Automated customer service systems are cost-effective solutions to providing assistance to customers.
  • Improves efficiency: Automated systems can respond to queries almost instantly, eliminating the need for customers to wait for a response from an agent.
  • A modern solution: Customers today expect fast and convenient responses to their questions. Automated customer service offers this with minimal effort from the business.
  • Scalable: As businesses expand, automated customer service can easily be adapted to meet the growing demand of customers.
image of a Automated Customer Service

Voice-controlled Virtual Assistant

A Voice-controlled virtual assistant is a computer program that utilizes natural language processing to understand the requests and questions of the user. This technology has opened up a world of opportunities, especially in the realm of business. It can be used to automate tasks, provide customer service, manage data, and more. Here are some reasons why a Voice-controlled virtual assistant could be a great business idea:

  • It can simplify administrative processes, freeing up employees for more important tasks.
  • It can provide customers with real-time responses.
  • It can help to collect data from customers.
  • It can automate customer service functions, resulting in improved efficiency and customer satisfaction.
  • It can be integrated into existing systems for greater control and accuracy.
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Examples of successful businesses:

Many companies have been successful in the artificial intelligence business industry, ranging from tech giants to new startups. Here are just a few examples of successful companies that have adopted AI technology:

  • Google
  • Apple Inc.
  • Microsoft Corporation
  • IBM Watson
  • Intel Corporation
  • Amazon Web Services (AWS)
  • Facebook Inc.
  • Hulu LLC
  • Salesforce.com Inc.
  • Nvidia Corporation

Facial Recognition Software

Facial recognition software is a type of computer application that uses biometric technology to identify individuals by analyzing their facial features. This type of software has the potential to make a great business idea as it provides a number of benefits, such as:

  • Enhanced security, allowing businesses to quickly identify and authenticate visitors
  • The ability to quickly and accurately identify large numbers of people in high-traffic areas
  • Greater accuracy than other forms of biometric identification, such as fingerprint or iris scanning
  • The potential for use in e-commerce and online identity verification solutions

Intelligent Chatbots

An Intelligent chatbot is a computer program designed to simulate conversations with real human users. The chatbot can engage in conversations based on rules programmed into it or through machine learning algorithms that allow it to adapt as it interacts with users. Intelligent chatbots can be used to improve customer service, automate marketing tasks, provide support for employees, and streamline customer interactions.

  • Improve customer service – Chatbots can make it easier for customers to get their questions answered quickly and accurately.
  • Automate marketing tasks – Chatbots can help automate the process of finding leads, scheduling appointments, and sending reminders.
  • Provide support for employees – Chatbots can help provide assistance to employees during customer interactions.
  • Streamline customer interactions – Chatbots can help automate the process of communicating with customers and responding to their inquiries more effectively.

Autonomous Vehicles

Autonomous vehicles are vehicles that are able to navigate a certain route or terrain with little to no input from the driver. Autonomous vehicles offer many potential benefits, such as increased safety on the roads and increased efficiency in the transportation industry. These benefits make autonomous vehicles an attractive business proposition.

  • Reduced cost of labor - Autonomous vehicles can significantly reduce the cost of labor, allowing businesses to save money on staffing costs.
  • Increased safety and reliability - Autonomous vehicles are equipped with advanced sensors and processors, making them more reliable and safer than manually operated vehicles.
  • Reduced downtime - Autonomous vehicles can operate for longer periods of time with less maintenance, further helping businesses to save money.
  • Increased efficiency - Autonomous vehicles can navigate more quickly and efficiently than human drivers, allowing businesses to save time on delivery or transport tasks.

Automated Marketing Campaigns

Automated marketing campaigns are systems and processes that are designed to run marketing initiatives without needing continual human intervention. This type of system can be used to run campaigns at scale, meaning that a business can stay in control of their customer relationships while also reducing the amount of time and resources they need to commit to each campaign. Automated marketing campaigns would make a great business idea as they:

  • Save Time - Automate running multiple marketing campaigns at once, freeing up more time for higher level tasks.
  • Maximize Reach - Automated campaigns can reach a wider audience in less time than manual approaches.
  • Consistent Performance - Automated campaigns work on an ongoing basis and can be configured to deliver consistent performance.
  • Reduce Human Error - Minimize the risk of human error in running campaigns by relying on automated processes.
  • Cost Effective - Automation often leads to lower costs with long-term savings.

Online Fraud Detection Systems

Online fraud detection systems are designed to help businesses detect and prevent fraudulent activities such as identity theft, bank fraud, and money laundering. These systems use a combination of artificial intelligence, machine learning, and advanced analytics to monitor customer activity and detect suspicious behavior. With the increasing prevalence of online fraud, a business that develops or implements such a system could have a great opportunity to capitalize on this important security need.

  • Uses AI, machine learning and advanced analytics
  • Designed to prevent identity theft, bank fraud and money laundering
  • Offers great opportunity for businesses
  • Helps detect suspicious behavior
  • Monitors customer activity

Intelligent Fraud Detection Systems

An Intelligent fraud detection system is a system that uses artificial intelligence and data biometrics to detect fraud. This type of system would be a great business idea as it could provide businesses with a more proactive approach to reducing the risk of fraud, which would ultimately save them time, money and other resources. Here are some benefits that this type of system provides:

  • Faster and more accurate fraud detection
  • Reduced risk to businesses
  • Higher security systems
  • Automated processes for detecting fraud
  • Reduction in code automation costs and maintenance

Image Recognition Software

Image recognition software is a specialized computer program that is used to identify objects, people, and even text through digital images or videos. It has numerous applications in fields such as security, robotics, and marketing. As such, it can be used to create a viable business idea.

  • Image recognition software can be used to improve security systems by identifying authorized individuals, tracking movement within a facility, or recognizing objects on surveillance cameras.
  • In robotics, image recognition software can be used to navigate a robot through an environment.
  • In marketing and e-commerce, image recognition software can be used to recognize products for online ordering, as well as personalize content for target audiences.

Automated Natural Language Processing

Automated natural language processing (NLP) is a type of artificial intelligence that provides machines with the ability to understand and respond to human language. It involves using algorithms to detect patterns in language and extract meaning from them. By utilizing machine learning capabilities, NLP can be used in various applications such as customer service, chatbot development, summarization of text, natural language generation, information retrieval and sentiment analysis.NLP can make a good business idea by capitalizing on the following benefits:

  • Improved customer service – NLP allows businesses to provide better customer service by responding more quickly and accurately to customers’ needs.
  • Increased efficiency – Utilizing NLP can save time and money by automating processes that would normally require manual labor such as document summarization or sentiment analysis.
  • More accurate insights – By analyzing large amounts of data quickly, NLP can help businesses gain more accurate insights from their data.
  • Enhanced personalization – NLP can be used to provide personalized experiences for customers based on their preferences or past interactions with the business.

Nick

Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.