The $ Power is Within You!
Wizards versus muggles.
I’ve been sharing news about how several hundred independent developers, termed as "companies of one," have been profiting from the surging popularity of ML. Astonishingly, most are on track to generate 7-figure revenues this year, making this an even more lucrative trend than the mobile app bubble. Let me share how it’s done, and inspire more people to seize this opportunity while making a positive impact.
The banner AI Revenue Video explaining how this burgeoning ML trend is turning ordinary individuals into millionaires, many of whom are first-time entrepreneurs and some with no prior programming skills. The surprising bit is that developers rake in 80% of the revenue today.
So, who am I aiming to assist through this article? There’s a sizable faction of adept developers capable of producing end-to-end solutions, the hackers, who are overlooking these recent developments. And that’s a misstep. Individuals in software development solely for the paycheck may not find value in this advice. Just like in evolution, a beneficial trait needs to exist prior to an upheaval for it to be useful. Similarly, to reap the benefits of AI product development, one must already possess development acumen. For folks content with their day jobs, it’s best to stay put. However, if you are a skilled coder, overlooking this trend is a mistake.
Fear not, this is NOT akin to the Mobile wave which: 1) had a steep learning curve and involved convoluted App Store procedures, making it difficult to enter; 2) quickly saturated and lost profitability, with the lion’s share going to App Store owners. Contrarily, this domain is easily accessible and is more like a tsunami than a wave. Last month, I conducted an experiment offering faster training to five hackers never MLing before. It served as a refresher for me, besides teaching helps to master a subject, and a crash course for them. Initially planned for two weeks, by mid-second week the team had devised a formidable SaaS solution in production in the cloud, with only one-sixth of the final code contributed by me. I strongly endorse building a rapport with Google and GCP, as you’ll require all the acceleration you can muster. I’ve found no swifter way to launch an AI product than through GCP. Follow Google’s free tutorials to get nearly everything that you need to start billing.
Here’s what it takes to seize this once-in-a-lifetime opportunity:
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Make an unwavering resolution to take control of your destiny.
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Acquire skills to apply ML.
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In contrast to technologies you’ve already conquered, it’s relatively simple – merely overshadowed by negative stigmas.
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You don’t need to invent backpropagation; that’s been done since the '80s.
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You need to understand how TensorFlow and its counterparts work.
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Cultivate selling skills. Shatter your inhibitions with this book: "The Little Red Book of Selling" by Jeffrey Gitomer.
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Capitalize on the connections and network you already have.
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Immerse yourself in a community of like-minded individuals or seek a mentor who is already part of such a community.
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Capitalize on new connections and develop the necessary social skills.
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Live long and prosper!
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With the first delivery will come the rest of your career.
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- Ripe field
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You’ll find an abundance of profitable AI applications. No need for marketing – the current frenzy does it for you; choose a niche you can develop an interest in.
- Use assets of others
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Integration with Generative AI, for instance, demands minimal skills yet yields over $100/hr - most young coders do very well here.
- Upsell your laggards
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NLP, Image Recognition, Personalization Engines, and Predictive Analytics are effectively used to enhance DDD Aggregates in mature businesses and yield much higher profits. This will require skill! But the domains are well-established, and solutions you create will be easily reusable with your next customer. Most newly minted affluent developers-millionaires I mentioned earlier apply this strategy – they upsell in established business domains to former clients or through references.
- Grow into it
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Once you’ve completed a few projects, consider publishing a SaaS product from your workups. So, dive in and share your success story with me!
Wishing you the best of luck!
Also see editorial[1].
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