Custom GPTs will soon allow creators to make money based on the usage of their created GPTs. Over this issue, we'll cover how you can set a custom GPT for yourself and top AI news.
Last month, OpenAI announced Custom GPTs. While it did kill a bunch of startups it also unlocked an opportunity for the common public. You and I.
What are Custom GPTs?
In super simple sense they’re like your very own AI assistants that can be trained to do specific things. Like what?
You can create a Real-estate bot, to help you with quick research and data fetching.
You can create a Post Generator (see this LinkedIn Post Generator I created): That can generate custom posts across any social media channel.
You can create an FAQ Chatbot specifically for your product / service.
You can create an employee onboarding ChatGPT for your own company.
Opportunities are limitless. What’s crazier though is that you can make money doing this.
How do I build a CustomGPT?
Super simple (But you need ChatGPT Plus for this):
The chat-based help flow:
Go to: https://chat.openai.com/gpts/discovery and click on “Create a GPT”
follow the questions that the bot asks through out the process
“I know what i’m doing flow”
In which case you’d still go to the same link above and choose Create a GPT. But you’d then head to configure and fill in the details.
There’s a demo i made a few weeks back:
The real potential?
Important: If you’re technical, you can even connect external data sources and get data to GPT and your customers in real time. This is where the real money lies in my opinion, you just have some data lying around say for weather, you can create a weather GPT to answer questions like:
“Should I travel to my office today”
“What’s the forecast for this week”
it’s almost like a weather assistant post this.
How will I make Money?
OpenAI will soon be launching (pushed to January 2024) the GPT-Store, this will be the primary place to list and sell GPTs.
Creators / You will have the opportunity to generate income based on how frequently their GPTs are used. This method is similar to the App Store's model, which prioritizes making creations easy to find and use, incorporating elements such as search functions, leaderboards, and highlighted categories.
OpenAI is set to incentivize creators by sharing a portion of the earnings from the most popular and effective GPTs. While the specifics of this revenue-sharing arrangement and the prospects for direct sales are still under development, the preliminary plan centers on sharing profits, with potential avenues for subscription-based models emerging down the line.
There will obviously be a lot of filtering here to prevent any sorts of scams, so only the approved GPTs will be featured on this store. Similar to any other app store model.
This move indicates OpenAI’s commitment to a high standard of content within its marketplace.
How do you succeed in a marketplace?
Go super niche: Building things like “Recipe Generator” is too competitive, rather foucs on things like “Keto Recipe Generator” or “Indian Recipe Generator” still broad, but niche than “Recipe Generator”, you can make this even more niche by doing something like “Vegetarian Protein Rich Indian Recipe Generator”.
Focus on your own data: Spend decent amount of training time on the GPT. If you find it useful, only then users will find it useful too. Don’t create it for the sake of creating it.
Other acquisition sources: Remove single dependency on Marketplace listing, write blogs / reach out to your network and keep iterating and improving before the store launch.
Start Early: These GPTs are discoverable on Google, so the earlier you start the better for you.
And there you have it. All you need to potentially start making some side income with GPTs.
If you still need my help and you’re a paid subscriber of this newsletter, drop me a note on yash@explainx.ai - i will help you set it up.
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Other AI News:
OpenAI's Superalignment Team's Efforts: OpenAI is working on governance and control frameworks for future powerful AI systems. This includes using less sophisticated AI models to guide more advanced models in desirable directions, aiming to align superintelligent AI systems and ensure their safety.
MIT's New Antibiotic Candidates Identified by AI: Researchers at MIT have used AI to identify a new class of antibiotics capable of killing methicillin-resistant Staphylococcus aureus (MRSA), a bacterium that causes deadly infections. This represents a significant advancement in healthcare and AI's role in it.
Meta's Llama 2 for Generative AI: Meta released the upgraded Llama 2, an open-source large language model (LLM) for both research and commercial purposes. In partnership with Microsoft, Llama 2 has been made available in Azure's AI model catalog, optimized for Windows.
Google's 'Pixie' AI Assistant and Object-Recognizing Glasses: Google is developing an AI assistant named 'Pixie' for the Pixel 9 and exploring glasses with object recognition capabilities. This indicates a strategic move towards integrating AI in everyday devices and applications.
AI's Role in Combating Fraud and Retail Applications: The use of AI in retail and fraud prevention is increasing, with new solutions adopted for anti-money laundering compliance. This includes the exploration of AI's ethical implications and its broader impact within the retail industry.