Artificial intelligence tools offer Kenyans more than just convenience for completing homework assignments or editing selfies and videos. According to Matt Higgins, a self-made millionaire, CEO of investment firm RSE Ventures, and guest star on ABC’s “Shark Tank,” AI could be the next big source of income for Kenyans.
Higgins believes that AI has the potential to be the greatest wealth creator in history, as it doesn’t discriminate based on birthplace, wealth, or educational qualifications. It can break down barriers and provide economic freedom for individuals in Kenya.
While the current AI tools like ChatGPT or Midjourney have their limitations, the AI market is projected to experience rapid growth in the next decade. A recent report from PwC estimates its value to be nearly $100 billion already, with a projected contribution of $15.7 trillion to the global economy by 2030.
Higgins emphasizes that now is the opportune time for Kenyans to capitalize on AI. Here are three ways Kenyans can start using AI to make money:
- Freelance Work: If you have skills in writing, graphic design, or photo and video editing, AI can enhance your productivity and profitability. By learning about AI and using generative AI tools, you can write business plans, create digital artwork, and more. However, it’s crucial to proofread and fact-check the output of AI tools and add your personal touch to make it sound less robotic and more human.
- Entrepreneurship: Kenyan small-business owners with internet access should explore how AI can boost their revenue. AI tools can assist with inventory management, analyzing customer behavior, and gaining competitive intelligence. They can also help in targeting marketing and advertising efforts more effectively and identifying new revenue opportunities.
- Tutoring: While AI tutoring isn’t currently in high demand, there is a growing need for individuals who can teach others how to leverage generative AI tools. Kenyans can take advantage of online learning opportunities, such as free AI courses offered by prestigious institutions like Harvard University and the University of California, Davis, to gain knowledge in AI and potentially become AI tutors.
It’s important to note that when using AI tools, one should avoid uploading confidential information as the tools store and analyze the data. However, there is a wealth of information available online to help Kenyans explore how AI can benefit their small businesses and personal ventures.
In summary, AI presents a significant opportunity for Kenyans to generate income by leveraging their skills, exploring entrepreneurship, and acquiring knowledge to become AI tutors. By embracing AI, Kenyans can overcome barriers and pursue economic freedom and success.
