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7 Ways to Make Money with Machine Learning-mrRfpiAwad0

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7 Ways to Make Money with Machine Learning-mrRfpiAwad0

all you need is love and data and
computation hello world it’s Suraj and
I’m gonna list seven ways to make money
with machine learning if you’re new to
my channel welcome hit subscribe to get
notified when I release new videos
billions of dollars are being invested
into the AI ecosystem so an important
question to ask is who is currently
making money in AI well at the heart of
the AI ecosystem is the data itself
without data there is no AI it needs
data to learn from and currently the
vast majority of the world’s data is
owned by just a few corporations on top
of that comes the base layer of AI chips
these chips are what enable AI systems
to actually perform the processing
necessary so far NVIDIA has been the
biggest winner in this space just a
quick glance at their stock price over
the past few years shows how influential
their GPU chips have been in the
industry even though they were designed
for rendering graphics it turns out that
they’re perfect for the matrix
operations that a lot of machine
learning applications require but it’s
not just Nvidia IBM Intel Google and now
a few Chinese companies like cambric on
technology are designing their own AI
chips as well
built on top of these chips are the
platform and infrastructure of AI that
is where does the AI processing and
storage take place there’s fierce
competition amongst companies like
Amazon and Microsoft to provide a
complete cloud solution for developers
to run AI applications and the cost of
maintaining these massive global data
centers is something very few can afford
on top of that are the actual models and
algorithms of AI Google’s tensorflow
framework is still the most popular in
the field and it’s free the reason being
once a company starts using it they’ll
likely need a lot of computing power and
who better suited to offer that than
Google since Google cloud is optimized
for tensorflow
once a company becomes reliant on their
software they will likely beat a
returning customer for years very smart
but that’s not stopping the other Giants
from releasing their own frameworks as
well then we have the enterprise
solutions built on all of this
technology again dominated by giants
like Salesforce Oracle which is somehow
still alive and s AP consumer facing
solutions are being offered by
corporations that have massive budgets
and teams to execute on innovative ideas
and at the very top are entire countries
like China the UK Germany France and
Japan which are leading in terms of
investment into their respective AI
ecosystems to foster economic growth so
where do you fit into all of this at the
very top above countries no at a glance
it might not seem like there’s room to
make money in this space with so many
large entities with massive budgets but
there most definitely is let’s start
with the first way to make money with
machine learning start a start-up there
is a massive space for startups who can
provide the best vertical solutions
across industries big corporations don’t
have time to tackle small niche problems
but you do we’ve seen that startups can
succeed if they have access to four
components large data sets domain
knowledge that gives them deep insights
into the opportunities within a sector a
deep pool of talent around applied AI
and capital to fuel growth one leading
startup example is a firm they offer
loans to consumers at the point of sale
a very competitive space and have still
managed to build a successful company
that’s raised over 700 million US
dollars they quickly created a
defensible moat to ensure that they
remained competitive this is called the
flywheel effect and it applies to all AI
companies more
baguettes better AI based services and
products that gets more revenue and
customers that gets more data and it
continues it’s the circle of data
startups are actually disrupting every
part of the AI value chain even at the
lowest level Habana for example is a
small team developing a chip that
supposedly out runs GPUs for inference
algorithm iya lets developers deploy and
manage ML models in the cloud in just a
few minutes with a much more
user-friendly interface than AWS clarify
provides custom models and algorithms
that perform different tasks via their
easy-to-use API and peek is providing
data analytics as a service directly to
enterprises with so many tools freely
available on the internet anyone with
the right amount of motivation and work
ethic can succeed in this space if I
were to build an AI startup from scratch
today I would write down a list of
problems that I personally cared about
solving that’s the only way to stay
motivated when issues arise in your
journey and they 100% will then I divide
these problems into whether they fit
into the enterprise or consumer markets
the enterprise is where the most high
value use cases for individual startups
are so I probably pick an enterprise
service then I create a well-designed
landing page with a sign up form that
details what my imaginary product would
do with a price point after getting
feedback from friends on the pricing and
features and tweaking it a bit I would
share it on social media platforms to
see if anybody signs up if people
actually sign up knowing the price
that’s extremely exciting and motivating
isn’t it I get right to work collecting
a relevant data set and training a model
on it once I have a working model I take
on clients one by one
lowly building the reputation of my new
brand and used the money I earn to hire
and scale remember where there’s a will
there’s a way
nothing lasts forever Amazon’s cloud
product AWS which earns more revenue by
itself than many big corporations do
seems unstoppable but a decentralized
computing network that allows anyone to
use their local machine to store and
process encrypted data could provide a
lower-cost option to consumers in the
near future the second way is contract
work either as an individual or as a
team I used to do contract work when I
was a college student as a way to make
money on the side and can definitely
recommend it to you as well it’s a
hustle clients won’t come to you you
have to go out and find them but before
you do that you need to make sure you’ve
established a solid personal brand
online that includes a resume a
portfolio website a LinkedIn profile and
most importantly a github account with a
few well documented projects that
showcase your skills to prospective
clients I’ve got a great video on this
called resume for machine learning and
how to do freelance AI programming
definitely check out both of those
before browsing one of the many
freelance job board websites available
on the web if you want to start a
consulting firm having built an online
brand is helpful if you want access to a
larger pool of talent to join you many
teams these days are fully distributed
including school of AI you want to find
people that you can trust that you enjoy
working with and that have equal or
greater talent than you then you can use
a team management board like Trello to
assign tasks and split the work
accordingly decide what your target
market is then find clients in that
market by browsing social media websites
like LinkedIn and reddit as well as
local event
in your area for example consulting
firms like sigmoid I’ll focus on working
with big enterprises and medium-sized
companies from just four countries the
third way is to find a job or internship
and I’ve got a great video on this
called how to find an AI internship
check it out the fourth way is to write
a technical book you have two options
here self publishing or using an
existing publisher
I used to write blog posts on
cryptocurrency and one of the editors at
O’Reilly reached out asking if I’d be
interested in writing a book for them
because they liked one of my blog posts
so much I ended up writing decentralized
applications using their brand and
O’Reilly took care of marketing and
distribution including printed copies
across many bookstores this is a great
way to earn a recurring revenue increase
your brand reputation and position
yourself as a thought leader in the
space but be warned writing a book is
not easy I was spending eight hours
every day writing when I was staying in
Tokyo for a few months write a book if
you want to convey a way of thinking
rather than just demonstrating facts or
techniques
what books uniquely offer the reader as
long-form content is the ability to
learn how to think like the author at a
certain level of detail you shouldn’t
write a book solely for the money
but instead if you feel like none of the
educational content that you’ve seen
offers your perspective on which
technology stack works best and
envisions where we’re headed in the way
that you do publishers do take a royalty
fee though and this varies per publisher
if you don’t want to deal with that you
can self publish your book through a
service like create space books are a
good source of passive income they’re a
recurring revenue stream and you can
also use the book as leverage to later
get speaking gigs like what Caillou
has been doing after publishing his
latest book AI superpowers highly
recommend it by the way I loved it the
fifth way is to make educational content
online blogs videos there are a lot of
examples of this for blogs medium pays
its bloggers for publishing on the
platform and it’s become a very popular
tool in the AI community if you want to
make a paid course udemy is probably
your best bet to get started as fast as
possible without having to build a
learning management system yourself but
if you’re willing to play the long game
then YouTube is a great option
you won’t make money from ad revenue at
first but as you build an audience it
will come you can get creative with
revenue stream here as well once you’ve
established an audience things like
partnering with affiliate referral
programs patreon and brand sponsorships
the sixth way is to create an automated
trading bot I’ve got several videos on
machine learning for trading and I’ll
link to them in the description creating
a high frequency trading bot focused on
crypto currencies like Bitcoin is a
popular project idea in the AI community
the advantages of focusing on crypto
currencies is that you’re not
necessarily starting with a handicap
against the big trading firms because
the technology is relatively new and the
api’s are really good people have
definitely made profitable BOTS but no
one will share their source code because
that would be giving away their secrets
the best thing to do in this case is to
go on github and search for relevant
crypto trading bot repositories until
you find some well documented examples
and learn from them and the last way to
make money with machine learning is to
compete in machine learning competitions
Kaggle is a great choice the winners of
their competitions receive hefty cash
prizes new Mirai is another good example
data scientists compete to see whose
model can predict asset prices the best
and earn money if they win hackathons
are also always a fun way to earn prize
money and there are
several listings like Haiti nuggets that
help you find them
find a local hackathon and compete you
could even make a living attending and
winning hackathons around the world
anyway I hope you found my tips useful
Wizards links to everything will be in
the video description please subscribe
for more programming videos and for now
I’m gonna make some paper so thanks for
watching


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