12 Artificial Intelligence Business Success Stories [2024]
The global artificial intelligence market size is estimated to grow by approximately 54% YoY, reaching over 22 billion U.S. Dollars in the next few years.
Therefore, starting an AI-related business today can be a lucrative business opportunity. Are you wondering which AI business ideas you can start in 2024?
Here is a full list of top artificial intelligence business ideas you can start today.
In this list, you'll find real-world artificial intelligence business success stories and very profitable examples of starting a artificial intelligence business that makes money.
1. EDIIIE ($3.6M/year)
Gautam Arjun, the co-founder of EDIIIE, came up with the idea for the business after working with EdTech and health tech firms that wanted to create interactive and immersive learning experiences. The success of their first projects, including a virtual reality journey through the solar system and a VR solution to cure Amblyopia, confirmed that they were on the right path. Now, EDIIIE is India's largest solution provider for AR/VR/MR and Gamification needs, with a team of 150+ employees and a diverse portfolio of projects.
How much money it makes: $3.6M/year
How much did it cost to start: $150K
How many people on the team: 150
EDIIIE is a creative technology company that uses AR/VR/MR and gamification to design and develop next-generation experiences for global brands, with over 150 experienced employees across three offices, having successfully delivered 200+ projects to businesses worldwide, including training modules for leading manufacturing firms, delivered some of the top projects to many leading firms across industries, and are currently looking to hire for senior positions.
2. AdviNow Medical ($2.4M/year)
James Bates, the CEO and Founder of AdviNOW Medical, came up with the idea for his business after realizing that doctors spend 2/3 of their time on clerical work, leaving less time for patients. He saw the potential for artificial intelligence to automate the front and back office of clinics, allowing doctors to focus on patients and increasing revenue and profitability. With the vision of making healthcare available to everyone through technology, AdviNOW is revolutionizing the industry and seeing significant success with over 1,000 medical locations adopting their automated medical visit system.
How much money it makes: $2.4M/year
How much did it cost to start: $15M
How many people on the team: 25
AdviNOW Medical uses artificial intelligence to automate clerical work, resulting in doctors being able to focus solely on patients and patients seeing more doctors every day, leading to increased profitability while solving healthcare issues.
3. AiFA Labs ($1.04M/year)
While executing an SAP implementation, Harish Mandadi saw firsthand the inefficiencies of traditional software development. This realization propelled him to invest his savings and two decades of IT experience to launch AiFA Labs in 2021, now boasting a global team of 250+ professionals.
How much money it makes: $1.04M/year
How many people on the team: 158
Discover how AiFA Labs evolved into a global IT solutions powerhouse with a team of over 250 professionals and flagship AI platform "Cerebro" that has revolutionized software development across multiple industries, all started with a modest $500,000 self-funded investment.
4. Six Atomic ($480K/year)
Taime Koe, the CEO of Six Atomic, came up with the idea for his business after recognizing the flaws in the apparel industry's supply chain. He saw the potential for on-demand production, which would allow for personalization and sustainability while reducing inventory risk. Through years of research and development, Six Atomic created automation technology that can create customized patterns and designs for each customer, ultimately leading to a more efficient and profitable supply chain.
How much money it makes: $480K/year
How much did it cost to start: $10K
How many people on the team: 20
Six Atomic builds automation technology for the apparel industry to enable real-time, sustainable, and personalized supply chains.
5. Weichie.com ($360K/year)
Bob, the creative director at Weichie, accidentally started his freelance business while working in a digital agency in New York. After gaining experience in SEO and website design, he launched Weichie.com and used it as an example site to showcase his skills. Through word-of-mouth referrals and a focus on customer satisfaction, Bob's business has grown to specialize in eCommerce and SEO, with a goal of becoming an authority in the field.
How much money it makes: $360K/year
How much did it cost to start: $3K
How many people on the team: 2
A creative director at a Brussels-based creative, technology, and e-commerce optimization agency outlines their process of building a digital agency that focuses on eCommerce and SEO-based projects while providing tips on the importance of looking up to others but never comparing yourself to them.
6. Quandri ($324K/year)
Quandri, founded by brothers Jackson and Jamieson Fregeau, is a digital worker company focused on automating tasks for the insurance industry. Their most popular product compares policies upon renewal, providing brokers with a summary report of important changes. With a monthly revenue of $30k and a growing team of 9, Quandri is rapidly expanding its customer base across North America.
How much money it makes: $324K/year
How much did it cost to start: $10K
How many people on the team: 6
Quandri, a digital worker company that automates time-consuming work for the North American insurance industry, has grown to an average of $30k monthly revenue since co-founder Jackson Fregeau took advantage of spare time during the pandemic to build initial bots; the company has since added several full-time employees, and is "rapidly" expanding its customer base.
7. NHANCE NOW ($300K/year)
Nishith Patnaik, the founder of NHANCE NOW, came up with the idea for his business during the Covid-19 pandemic. After losing 95% of his customers and 99% of his revenue, Nishith and his team pivoted their product into a Conversational Automation Platform, helping businesses shift to messaging apps. In just 10 months, their monthly revenues grew from $0 to $25,000.
How much money it makes: $300K/year
How much did it cost to start: $750K
How many people on the team: 21
NHANCE NOW, a Conversational Automation Platform, pivoted during the Covid pandemic and transitioned from an aspirational product to a messaging-based digital contact center, helping D2C ventures and insurance companies shift towards a digital-first mode, resulting in monthly revenues growing from $0 MRR in July 2020 to $25,000 MRR in mid-2021.
8. aiCarousels ($60K/year)
On the brink of losing his job, Fernando Pessagno, an Argentinian product designer, embarked on a 10-day #buildinpublic challenge to create aiCarousels.com, a tool that now generates $5,000 MRR, helping non-designers craft social media carousels using AI.
How much money it makes: $60K/year
How much did it cost to start: $0
How many people on the team: 0
Discover how an Argentinian product designer turned an accidental 10-day project into aiCarousels.com, an AI-powered social media carousel generator now boasting $5,000 in monthly recurring revenue (MRR), with minimal design skills and no formal programming education.
9. Imagined with AI ($54K/year)
Sabatino, a full-stack freelance developer and head of development at Craftzing, became interested in the AI revolution happening and trained his first model after playing around with Google Colabs. During a city trip to New York, he and his girlfriend Silke came up with the idea for AI-generated portraits, which led them to launch Imagined with AI. Within 24 hours of launching their MVP, they sold their first AI-generated portraits and have since attracted customers from over 25 countries, generating over 234,000 unique images to date.
How much money it makes: $54K/year
How much did it cost to start: $0
How many people on the team: 0
Imagined with AI generates unique, AI-generated portraits in various styles that has helped generate over 234,000 unique images to date, and is used by customers in over 25 countries.
10. Marine Digital ($6K/year)
Ivan, the founder of Marine Digital, came up with the idea to create a modern digital service in the marine industry after seeing how outdated and inefficient the industry was during his work in banking, IT, and logistics. With the support of APX VC Fund and a pivot in his business, Ivan and his team developed a fuel optimization system that has garnered interest from clients and generated €60K in revenue from pilot projects. Now, they are launching the production of their digital twin in the EU, with plans for worldwide mass-market scaling in the future.
How much money it makes: $6K/year
How much did it cost to start: $1M
How many people on the team: 12
Marine Digital is a deep-tech company that aims to make modern instruments of decarbonization available for the mass market and has made massive progress in performance digital twin cost reduction (10 times lower than the average market cost), providing opportunities for non-giant marine companies to use it, with 3 pilots earning about €60k.
11. Cleanvoice AI ($4.8K/year)
Adrian, a computer science graduate and former data scientist, started Cleanvoice after experiencing the time-consuming process of editing podcasts. His interest in applied AI led him to develop a tool that uses machine learning to automatically edit podcasts, removing filler words and stuttering. Cleanvoice currently generates $400 MRR and offers a pay-as-you-go credit-based pricing model.
How much money it makes: $4.8K/year
How much did it cost to start: $600
How many people on the team: 0
Discover how a self-taught machine learning enthusiast turned a podcasting frustration into Cleanvoice, an AI-powered editing tool now netting $400 MRR, with practical insights on customer discovery, SEO strategies, and balancing tech development with marketing savvy.
12. Mumu ($1.8K/year)
Wilbert, a software engineer from Indonesia, came up with the idea for Mumu while struggling to find emojis on his Mac. Realizing there was room for improvement, he created a simple landing page and gathered feedback from a small group of beta users. After launching and receiving overwhelming success on Product Hunt, Mumu has exceeded Wilbert's revenue expectations and continues to attract and retain customers through transparency, frequent updates, and excellent customer service.
How much money it makes: $1.8K/year
How much did it cost to start: $200
How many people on the team: 0
Indonesian software engineer Wilbert created Mumu, an emoji picker for macOS, which hit 10x his target revenue when he launched it recently, generating around $1,600 in total revenue, by designing and prototyping in Xcode and Figma, making a simple landing page to gain an initial beta launch momentum, and building in public to retain customers.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
