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  Artificial Intelligence is presently the in thing in tech and business. And as its range of applications grows, the public is waking up to its immense power: it’s capable of radically impacting the way we work, communicate, indulge in our hobbies, and interact with the world around us. This is a revolution unfolding right in front of us.
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Because AI simplifies and speeds up so many activities, it’s actually birthing lots of businesses which leverage it to make a whole range of processes more efficient. If you’re thinking about launching a business of your own in this day and age, you should consider starting one that’s enabled by AI. Here are 10 business ideas in this mould you may want to explore.

AI-Based Human Resource Tools

Human Resource departments have seen a significant transformation over the past couple of decades. And they’re changing again, thanks to AI. Forward-looking organizations are automating and smartening up their HR functions with this technology. From recruiting and onboarding to performance evaluation and personnel training, your AI-based HR tool could support vast improvements to business processes, and generate revenues for delivering value.

AI-Driven Content Creation

SMEs and startups spend a good deal of money creating and pushing out content on websites, social media, email, etc. It’s a key part of their promotional and relationship-building and management strategy. You could help them save a lot of scarce funds, time, and other resources, by providing them with an AI-driven content creation tool. This solution will write up whatever copy they need for their various platforms, saving them the cost of hiring and maintaining human content creators.

Automated Data Entry Tool

The data entry process can be quite tedious and repetitive; it’s typically not on the list of most loved jobs. So, automated, AI-enabled data entry solutions offer relief for human agents. A startup that supplies this product to businesses will reap gains by helping them fill their databases much faster and for less than the regular cost.

AI-Powered Marketing

Another aspect of business that AI can help entrepreneurs with is marketing. You can develop an AI tool that primes marketing to personalize messaging and service rendition to appeal to individual prospects, leads, and customers. Such a tool will grasp each customer’s needs by running through their engagement habits, and match them to specific products accordingly.
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Intelligent Customer Support Chatbots

These days, more businesses are adding chatbots to their customer-facing resource boxes. Chatbots play the role of a human customer service representative, attending to and answering questions from customers on digital channels. There’s a growing demand for this technology; you could build a business around providing companies with chatbot capabilities undergirded by AI.

Virtual Personal Assistant

Until recently, non-human digital personal assistants were the stuff of science fiction. But they’re here with us now. As AI becomes more powerful and capable, we’re going to see more virtual personal assistant programs being developed for busy or comfort-seeking people. Get a first-mover advantage in this future market in Nigeria by fashioning an AI assistant for local (and maybe continent-wide) use.

AI Learning App

How about starting an EdTech business centred on AI-supported learning? You could build an AI app that makes learning interactive. This may be tailored to the needs of students in secondary schools and tertiary institutions, or people who want to learn a skill. The possibilities are almost endless.

AI Weather Forecasting

This solution will work for a range of contexts, from planning your rendezvous to anticipating the needs of your activity out in the field. One use case is agriculture. Farmers who use AI weather forecasting tools will be able to plan their work better. It’ll save users resources, and allow them to allocate their time and efforts more efficiently.

AI for Retail

There are a variety of uses for AI in retail. For example, AI inventory management tools can enable businesses to forecast demand for their products, determine what quantities of those products to stock up on at any given time, automate materials procurement, and optimize the deployment of logistics for warehouse management.
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AI Sales Assistant

An AI sales assistant is a tool that leverages Artificial Intelligence to streamline, simplify, and quicken sales processes, as well as improve the productivity of sales teams. Software in this category typically derives insights from speech patterns, sentiment analysis, and a host of other AI and machine learning capabilities, and utilizes those insights to automate sales processes and supply actionable information to businesses. If your AI sales assistant can solve real-world problems for companies across Nigeria, it’ll become a big hit soon enough.

Final Words

Artificial Intelligence comes with numerous benefits and can be applied to a vast array of cases. So it’s not a surprise that it presents us with an expanding list of business opportunities. It’s up to you to build an enterprise with it that solves some of our most pressing problems. Featured Image Source: Valasys Media
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This article was first published on 2nd August 2023


Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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