AI is the next big thing. Do you want to start an AI related business? If YES, here are 50 best artificial intelligence business ideas & opportunities for 2020.
Even in this age, a lot of people still picture artificial intelligence as a dystopian machine-ruled future. Our problem as humans is because our vision of the future is shaped by the realities of today, or in many cases, what we witnessed fifteen years ago.
Why Start an AI Related Business?
Reports have it that $41 billion will be invested in artificial intelligence systems for businesses by 2024 and jobs will be created in the industry. This is why if you believe artificial intelligence will play a key role in business in the future, yesterday was a good time to begin the journey.
Note that a lot of businesses justify inaction by suggesting the technology is unproven and it introduces reputational and financial risk to a business. But you need to understand that doing nothing is a high risk strategy.
There are many reasons to start an artificial intelligence business in this generation. The advent of technology and modernisation has created the need for machines to perform some necessary duties, relieving us humans from stress.
Artificial intelligence is not all about robots or automated machines. WhatsApp as an app is a perfect example of artificial intelligence. It made messaging and communication easy by bringing with it instant delivery and replies. Anything that makes life and work easy for man is part of this industry. This industry is broad and covers a lot of other sectors and businesses.
If you are looking to start a business that will stand the test of time, you should consider starting an artificial intelligence business because it will always be in need due to our efforts as humans to reduce manual labour and make living easier. Below are 50 Top Artificial Intelligence Business Ideas you can start and make profit from today.
50 Best AI Related Business ideas & Opportunities for 2020
- Tech implementation consultancy
Reports have shown that big strides are being made in technology, whether it’s in the realm of artificial intelligence and machine learning, or big data analytics. It is for this reason that experts believe that companies large and small will be looking to infuse new tech into their business activities.
But entrepreneurs already have a lot on their plate, and many don’t have the time or energy to learn their new technology inside and out. A tech consultation service that could help businesses implement and operate their technology solutions should be in high demand and could prove highly profitable.
- Manufacturing Mobile Phones
This very important device is used in making calls, sending text messages, browsing the internet and for other purposes which is why there is a huge market for mobile phones. You need to understand there are a lot of brands in this industry, but if you are able to come up with a good competitive strategy, you will sure have your own fair share of the market.
- Communication stores
Note that you can stock and sell items such as residential and business telephones, fax machines, pagers, Palm Pilots, cell phones, and accessories. Indeed you’ll want to secure an authorized agents agreement for the wireless side of the business. But we believe that getting this type of agreement should not prove difficult given the vast number of communication companies now providing paging, cell-phone calling, and two-way radio systems.
We strongly suggest you locate your store in a highly visible area of your community like a mall or a storefront on a major street. We also suggest you employ outside salespeople to cold call on businesses in the area to bid on their communication product and service needs.
- Computer Engineering
Computer has become a necessity in all business industry. Computers make works and survival easier for we humans. In finance and investing, for instance, high-speed computing is increasingly a prime competitive advantage. And most big companies will need networks that are faster, more seamless, and more secure. You can comfortably start a computer engineering business if you have adequate knowledge to run the business successfully.
- Free internet terminal
Have it in mind that Internet terminals are simply kiosks that contain computer equipment capable of connecting to the Internet. Note that these terminals are strategically located in high-traffic community gathering places such as malls and sports complexes, and are free to use for visitors of the location. But because the Internet terminals are free to use, the business that owns and runs the terminals sell advertising space on the kiosks to local companies to generate sales and profits for the business.
The only thing the world knew was printing with laser jet or inkjet printers. But with the advent of technology, it is now possible to print the 3D model of an object from plastic, metal, or any other material. And not only can you see the output, but you will be able to touch it. So if the idea of 3D printing interests you, then you should consider starting a business that offers 3D printing services or start a retail store that sells 3D printers.
- Automated Pharmaceutical Company
You can start an automated pharmaceutical company where less workforce is needed but machines and robots are programmed to run and produce everything. It is a highly profitable and thriving business but it is a business that is highly regulated. If you want to start this type of business, then you would be required to apply and obtain the necessary license and permits from the government of your country.
- Body Part Making
Your duty in this business is to take care of degrading polymers and use stem cells to engineer tissues. This is not about growing a foot or an arm in a lab. It’s about growing skin or tendon or muscle–in other words, single types of tissue. A lot of companies or entrepreneurs are diving into this business.
A company in Connecticut is currently working to heal ACL tears without taking tendon from another part of the body to surgically repair it. Research has shown that they are using degrading polymer placed where a tear occurred and stem cells in the blood are left with the healing job. With adequate knowledge and funding there are a lot of things to do and achieve in this sector.
- Car Charging Station
The United States is filled with electric cars that ply the roads. They are becoming popular as the growing need and awareness for environmental sustainability has boomed the industry. The all-electric Nissan Leaf completely sold out before the car even arrived in U.S. showrooms.
Reports have it that the demand in this industry will keep growing drastically in the coming years. As people keep buying electric cars, they will still need charging stations to get those cars running. The idea is to make sure that people don’t hesitate to buy electric because they’re worried about fuelling.
- Server Building Company
Servers play very crucial roles in telephony, internet and intranet connections in corporate organizations. Research has shown that almost all corporate organizations have servers because it makes networking and business in general run smoothly. So, if you are looking towards starting your own business, you can start a business that builds servers.
- Cloud computing
Cloud computing has been on the rise in recent years and will keep growing. It focuses on web-based applications instead of desktop-based ones. We believe that it involves storing information in and getting it from remote but secure web-based servers, thereby allowing users to access information on the go without necessarily having to be with their office computers.
Reports has shown that cloud computing has a lot of notable upsides such as remote emergency, backup ready information sharing, and synchronicity across locales. This industry is still open and ready for any focused entrepreneur.
- Solar Water System
We call all agree that water is very essential to all living things and everyone knows that water pumping machines sap a lot of energy. You could start a business that helps people install water pumping machines that run on solar power and make it cheaper and easier to pump water.
- Social media consulting
Indeed Facebook and Twitter are still the top networks, but businesses tend to struggle the most with platforms like Instagram, Pinterest, Tumblr and Snapchat. We believe that all these platforms have big audiences but a lot of businesses don’t realize how big they really are, how effective they can be and how to make them work for their niche.
Periscope, Twitter’s live-streaming app, has more than 10 million active accounts, for example, and Snapchat has more than 100 million users. Tumblr and Instagram have more than 400 million users, and Pinterest has over 100 million.
Which is why if you have a background in social media and a core knowledge of these particular platforms, try starting a social consulting business that specializes on the basics and more on helping businesses take advantage of the millions of users they’re not reaching by staying only with Facebook and Twitter.
- Electronic Cigarette
This is a business you should consider starting. We suggest you conduct a detail research before you dive into this business. We also suggest that you confirm from the appropriate authority in your country to be sure you can successfully start an e-cigarette Production Company.
- 4G Internet Connectivity
4g technology has made surfing the internet and anything that has to do with the internet easier and fast. Reports have it that 4G technology is yet to get to all nick and crannies of the world. It is presently available only in few countries. You can start a business that takes 4g technologies closer to the people.
- Auto alarm sales and installations
Even though a lot of new automobiles now come outfitted with auto alarms as standard equipment, starting an auto alarm installation business is still a good choice for a new business venture, especially if the objective is to build a small one-person business that can provide the owner with a comfortable annual income.
When planning to start this business, you have to know that creating alliances with used car dealers is a very sure way to activate this type of security business, as the car dealers can offer their car purchasing clients optional installations of car alarms.
- Power Storage Business
We all know that uninterrupted power supply systems also known as UPS or inverters are gadgets used to store energy, so that when there is absence of power, the UPS can be used as a back-up source of power. These devices are used in hospitals, schools, information technology companies, individual homes and almost every company out there. You will have a large customer base if you start and run this business successfully.
- DNA Design Firms
A lot of people don’t know that understanding DNA gives clues to diseases. Facts and reports have shown that DNA reveals some diseases, and a lot more will come if we invest in this area. But testing DNA for patterns that correlate with diseases won’t disappear so easily.
A lot of entrepreneurs in the United States are now buying the idea and jumping into the industry. The long-term possibilities of cheap DNA testing involve a better understanding of aging and endless possibilities for new ways to cure and treat disease.
- Industrial Strength Fibre Production
You can also start a business that produces industrial strength fibres. This business is yet another business that an entrepreneur who is interested in making money can successfully start. Industrial strength fibre is used in the production of bullet – proof vests et al.
- Telecommunication Company
You need to understand that this business is capital intensive and you will need a lot of funding to pitch a tent in this industry. We believe that the amount needed to get operating license from any country is indeed huge. If you can get the required funding and business knowledge, then one of your best options is to start a telecommunication company.
- Ghost writing
Social media has made communication very easy and convenient. Audiences are ready to consume content from their favourite brands and celebrities, but actually crafting that content can be tricky, so tricky that a lot of companies are turning to ghost writers to help put their thoughts down on paper. Reports have it that due to technology and the internet, publishing and sharing written material is easier and cheaper than ever.
- Cloning and Enhancing Lab
This business is one of the most enticing businesses in the biotechnology industry that an entrepreneur who is interested in the industry can successfully start. Cloning and enhancing labs are involved in the enhancing of plant and animal traits by making use of biotechnology in order to make agriculture easy. It is an advance business and it is a business that is reserved for core professionals in the biotechnological industry.
As we advance in the technology, the more we try to reduce the size of everything to make it convenient. The mainframe computers of old could fill up large rooms, yet they did far less than what the average PC of today can do. Then computers became smaller and more sophisticated until we had the desktop PCs and then the laptops and notebooks.
At this current dispensation, we have the tablet PCs, lightweight devices that can be taken anywhere and can perform various sophisticated functions. Tablets are still very much in vogue, so manufacturing or selling them is a very lucrative business.
- Virtual tours
We believe that starting a business that provides virtual tours for clients who are seeking the ultimate marketing tool for their websites is not only an incredible business opportunity, but the business also has the potential to generate profits far in excess of $100,000 per year.
From our detailed research, we were able to note that virtual tours can range from a hotel that gives potential guests a tour of their facility, accommodations and amenities via their website to real estate brokers that broadcast house tours of properties they have listed for sale and posted on their websites. This business might not seem easy as it sounds, you’ll need specialized software, a computer and a digital camcorder, not to mention production and editing skills to produce the finished product.
- Holographic Theatre
The hologram of today is a clever version of an old illusion called Pepper’s Ghost. Papers have it that in the mid-19th century, the trick was done with a thick glass between the audience and image that could make a figure appear to be floating in the air. We believe that current illusionists use highly reflective polymer, invisible to the audience, to create life-size images. Note then that a top application for the technology is using holograms for real-time telepresence for meetings.
- Online Library Business
Advent of technology and the internet has made it possible for people from different parts of the world to be registered in the same library. Online library is simply a resource centre where you can comfortably conduct a thorough research and study from the comfort of your home no matter the part of the world you live in as long as you have internet enabled device (smartphones, computers, notebooks, tablets et al). In this age, a lot of individuals pay registration fees and of course membership fees to make use of online libraries, thus creating a business opportunity for you to leverage on.
- Car repair concierge
We all can agree that just a few things can be as frustrating as taking a car in for service. It is a time-consuming process that often needs the owner to make cumbersome alternative transportation arrangements while the work is being done. Reports had it that there are more than 115,000 auto repair and service shops nationwide, each fixing an average of 55 cars per week. This means there is a steady need for those who can make the process as smooth and painless as possible.
- Personalized medicine
In this age, individuals can be treated in advance for diseases that they will most likely present with in the future. Also people now have drugs produced specifically for them based on their health needs and challenges. Personalized medicine is an innovation in health care that proposes medical decisions and treatments that are custom-made for each individual patient based on his or her genetic make-up.
- Short run CD ROM production
You should consider starting a business that produces CDs for clients that are only seeking 100 copies or less, as the market demand for the service is very huge and growing by the second. We believe that anyone who has ever tried to locate a company that is willing to produce a short run for CDs can certainly tell you it is very difficult because most companies specialize in large runs that produce thousands of CD copies a day. Research has shown that this creates a terrific opportunity for the creative and technologically experienced entrepreneur to capitalize by providing clients with a short-run CD production service.
- Lunar Tour Guide
A lot of people still think that assessing space is just for governments or large aerospace giants. That is no longer the case with numerous companies sending paying customers into the heavens. That may go a step further, with lunar missions, in the next five or 10 years.
- Building and Maintaining of Call Centres
There are a lot of call centres in the United States and of course in most parts of the world. This is why you can start a business that designs, builds and maintains call centres. Have it in mind that you would need some IT certifications and trainings before you can successfully run this type of business. The business involves call centre software applications development and installation, and hardware installation as well.
- Building and Selling Software Applications
If you make use of smart phones, you will realize how helpful apps can be especially when you are stranded and you need direction to get to a destination. It is obvious that there are a lot of Smartphone apps that are very useful for our day to day activities.
Unique apps such as ‘Nearest Locator’; an app that can help you locate places like the nearest hospital, the nearest Gas station, the nearest post office, the nearest ATM, the nearest hotel et al. There are still a lot of niches to cover and apps to develop in this industry. All you need to do is to look for a task in the IT world and then build a software to help simplify the task.
- Production of Nutrient Supplementation
We all understand the importance of nutrients and its supplements in our everyday life. In the bid to improve human immune system and health, scientists are now producing genetically improved foods that contain nutrients known to help fight diseases or malnourishment. We believe that you can comfortably start this business if you have adequate knowledge on how to produce nutrients supplements.
- New computer sales
Note that selling computer systems and equipment is one of the most competitive sectors of the retailing industry. You can really take out a huge chunk of the industry if you have a comprehensive marketing plan. Building and running the business from home will give you an enormous competitive advantage and minimal overhead expenses. The key to success in this industry is specialization. Concentrate on sales of one particular type of computer or a computer that has been designed for a specific task.
- Meat Grower
A lot of people are yet to know that meat can be grown in the laboratory. This innovation has been around but the taste is not there yet. Using techniques that come out of stem cell technology, numerous groups of scientists have grown meat in the lab. Stem cells are placed on scaffolding and soaked in nutrients to grow.
- Kids Friendly Apps
Kids are the leaders and customers of tomorrow and three-quarters of kids have access to a mobile device. We believe that this is a big business opportunity for anyone who can create products or design apps just for kids. If you develop an educational app or an app that promotes good health, you’ll win the parents over, too.
- Production of Celluloid
Have it in mind that celluloids are used in film production and there is a large market for this product. We believe that the production of celluloid is profitable as entrepreneurs are currently joining the sector. It is important to state that this business needs some level of professionalism and training. You should also be aware that your target market are film makers which is why you should build your marketing strategy to attract them.
- Car Tracker Installation and Repair Business
Reports have shown that the need for car tracking systems in cars is on the increase because of how efficient it has proven to be. A lot of transport operating companies won’t allow their cars to start plying the roads until they have installed a vehicle tracking system on it. Since the car tracking systems came into existence, it has become very easy for fleet operators to comfortably manage their fleet of vehicles. You can start a business that installs and repairs them.
The use of nanotechnology for the reparation of cells is becoming a popular need in this age. A computer science professor at Duke University has been creating micro robots that could possibly insert electrons into neurons in the brain. There are the world’s smallest untethered, controllable robots.
- Producing Internet Devices (Modem, Mi – Fi, and Reutter et al)
We suggest you consider starting a business that produces internet devices. Internet devices such as internet modem, Mi – Fi, and Reutter et al are presently in high demand in the United States of America and of course in most parts of the world. So if you are looking for a business to do, then this business idea is one of the options you should embrace.
We humans are constantly trying to devise means to reduce the size and convenience of all technologies we use. As satellites get smaller, the costs of launching them get lower. That’s the major limiting factor. We believe that nanosatellites and the even-smaller picosatellites can be packed with all sorts of useful equipment that have business applications.
The types of nanosatellites and microsatellites that can be built by small companies and universities will become more robust. We are heading in a direction where small teams and small companies will be able to do far more in smaller packages.
- Vaccine production
Vaccines are very important when it comes to disease prevention, disease control and of course in the public health department. This is in no doubt a big industry, as you would need several permits and licenses to start this business and you can outsource the production. Also have it in mind that this business needs a huge amount of funds. Some of the ways through which you can get funds include; bank loans, angel investors and savings.
- Mast Building and Installation business
This business is very lucrative and you should consider starting it, but have it in mind that you would need engineering skills before you can successfully launch a mast building and installation business. Note that you have to make your business known to all and sundry.
- Robotics Mechanics
It is a common thing in this age for robots to be scrubbing floors but they cannot wash dishes. The world robot population is growing rapidly, reports have it that 13 million robots will be built before the end of next year. A lot of these robots will be industrial robots, but personal robotics is growing rapidly, with research robots doing dishes and ironing.
- Installations of Optic Fibre Cables
This is yet another business you should consider seriously. It is in demand and will keep growing even in years to come. Optic fibre cables are used massively in the technology industry by telecommunications industries for the transfer of internet data et al. This business is very lucrative and can start producing income in a short while.
- Production of Bio-fuels
The world now understands the need to drop other fuels and focus on biofuels so as to protect our environment. When planning to start this, you should conduct a thorough feasibility studies and market survey. Handling chemicals sometimes will always need high level of carefulness. This is where the need to buy robots or hire experts.
- Smartphone Repair Services
Almost everyone in the United States have smartphones. The more people keep using smartphones so will the need for repair and maintenance. We believe that this is a wide opportunity for you as a savvy entrepreneur. Without any doubt it would serve as a best small business to start now.
- Antivirus for Smart phones and Computers
Developing antivirus for smart phones and computers is a business you should consider if you have the knowledge to create one. Once you are successful in developing an antivirus software that is effective, you are sure going to make cool cash from it especially if you know how to push it into the market. The advent of technology has made smartphones and computers a necessity in this age. This business is a thriving and profitable business which you should consider starting.
- Automated Fertilizer Production Company
Feeding the world population is a hard task. Fertilizers are needed in the agriculture sector. We believe there is a huge market for this type of business. Every government in the world is now preaching agriculture and sustainable farming. This is why if you are considering starting a business in the biotechnology industry, you can consider going into organic and non-organic fertilizer production.
- Building Electric Cars
The world in gearing into an age where we won’t need to fuel our cars. This is why you can develop your own electric vehicle or employ people to develop one and sell the idea to you for reproduction. But to start and run this business successfully, you will be needing a huge amount of funding.
In conclusion. we believe you can start your artificial intelligence business in two ways. The first is as a very science-driven approach. The second is to solve problems for a very specific type of customer, and belonging to one specific industry.
The first approach is typically evolved from funded research programs, academia, military, or corporations who perform fundamental science innovation. The second can be started with less heavy research and funds, and rather focused on intelligently applying technology to existing problems.
In this age, artificial intelligence replaces the need for humans to infer by giving computers the capacity to learn on our behalf. This is a business for the future which you can start and run now.
Latest posts by Solomon. O'Chucks (see all)
- How to Start a Jam Jelly Making Business - January 20, 2020
- Writing a Strawberry Jam Business Plan [Sample Template] - January 17, 2020
- 10 Examples of Government Regulation That Hurt Businesses - January 16, 2020