11 Ai Tool Success Stories [2024]
Artificial intelligence is a hot topic in the tech industry right now. An AI tool is a computer program that is designed to simulate human intelligence. AI tools are used in a variety of industries, including healthcare, finance, manufacturing, and retail.
There are many different types of AI tools, but some common examples include chatbots, virtual assistants, and machine learning platforms.
To build an AI tool you will need strong technical skills and experience in computer science. You should also have a good understanding of the different types of AI tools and how they are used.
AI is quickly becoming one of the most important and sought-after technologies in today's world. The revenues coming from software using artificial intelligence are going to increase from 9.5 billion U.S dollars in 2018 to 118.6 billion U.S dollars by 2025.
The demand for AI tools is growing as businesses are looking for ways to automate their processes and improve their customer service. AI tools can help businesses save time and money by automating tasks that would otherwise be done manually.
In this list, you'll find real-world AI tool success stories and very profitable examples of starting a AI tool that makes money.
1. Yellow AI ($36M/year)
Raghavendra Kumar Ravinutala and Jaya Kishore Reddy, co-founders of Yellow.ai, conceived their idea during the smartphone boom in India post-2011.
Observing the potential for user engagement through mobile apps, they identified a gap in connecting these apps with enterprises.
Despite conversational AI being a nascent field in the country, Raghu and Kishore envisioned creating a bridge between mobile apps and enterprise systems, laying the foundation for their innovative product.
How much money it makes: $36M/year
Yellow.ai provides a case study on growing from a side project to a full-scale AI enterprise generating $36 million annually through AI-powered chatbots and strategic marketing techniques, making it a must-read for aspiring entrepreneurs.
2. Enterprise Bot ($1.8M/year)
Pranay Jain, CEO and co-founder of Enterprise Bot, came up with the idea for his AI chatbot platform after realizing the potential of AI technology during his studies in the United States. Starting with a failed B2C product, Pranay pivoted to focus on conversational AI and utilized accelerators to launch his business with minimal capital. Now, Enterprise Bot has reached a revenue of $2 million and aims to double that this year.
How much money it makes: $1.8M/year
How much did it cost to start: $100K
How many people on the team: 62
Enterprise Bot CEO Pranay Jain discusses how he grew his AI chatbot platform to reach over $2 million in annual revenue, with plans to double that this year, and shares advice for aspiring founders on keeping a positive attitude and never stop learning.
3. SkillSoniq ($480K/year)
Abby, the founder of SkillSoniq, came up with the idea for her business after experiencing the challenges of working with outsourced talent on a tech project. She saw a need for a better way to source skilled talent quickly and affordably in the US, leading her to create SkillSoniq, the world's first AI-powered recruiting app. Through hosting marketing events at co-working spaces and leveraging personal connections, Abby was able to attract and retain customers, leading to impressive revenue growth.
How much money it makes: $480K/year
How much did it cost to start: $50K
How many people on the team: 7
SkillSoniq, the world's first AI-powered recruiting app, connects companies with skilled freelancers on a trial basis, saving companies 60%+ in hiring costs and earning $350,000+ in gross revenues in its first year, with a current average of $40,000 a month, and plans to raise a second round of seed funding to achieve escape velocity and continue to form a world-class company.
4. My AskAI ($300K/year)
After leaving his nearly decade-long finance career and spending years contracting at tech companies, the co-founder of My AskAI saw his breakthrough when experimenting with GPT-3 technology. Teaming up with a colleague, they initially created tools like a university personal statement generator and No Code AI Model Builder before pivoting to My AskAI, which now makes $25k/month and handles AI customer support for SaaS businesses.
How much money it makes: $300K/year
How much did it cost to start: $99
How many people on the team: 0
Case study of a co-founder's journey from finance to tech entrepreneur, successfully launching a revolutionary AI chatbot for customer support that earns $25k/mo, with impressive margins and a 3% conversion rate drawing customers away from bigger competitors.
5. Coachvox AI ($180K/year)
In 2021, Jodie Cook leveraged her extensive content from books, articles, and podcasts to launch Coachvox AI, a platform allowing creators to build AI versions of themselves. After a 7-figure exit from her social media agency, she saw a need for creators to scale their impact without increasing workload, hitting 6-figures ARR pre-launch.
How much money it makes: $180K/year
How much did it cost to start: $30K
How many people on the team: 0
Coachvox AI is a platform that allows creators to clone themselves and leverage their existing content, helping them make more impact and earn more without having to produce more content by utilizing artificial intelligence to coach, mentor, and engage with their audience, resulting in 6-figures ARR pre-launch and a growing waitlist.
6. SiteGPT ($180K/year)
In March of this year, Twitter got filled with a lot of AI content. So they founder started to wonder if there was any way he could make use of AI to help customers of his previous product. That’s when he thought – every one of his customers has a blog, so why not add a way for people to chat with those blogs? That’s how everything started.
His other product was doing relatively well at that time (around $4k MRR). But as he started working on this feature, he realized that the potential for this was so huge, that there wasn't any reason to limit it to his current customers. Anyone who has a website could make use of this. That’s when he decided to launch this feature as an entirely different product.
How much money it makes: $180K/year
How much did it cost to start: $500
How many people on the team: 0
This case study article is about the founder of SiteGPT, an AI chatbot platform, who started the company as a side project and achieved $15k MRR in just 6 months, overcoming challenges such as building the first version of the product and finding product-market fit.
7. Tech Lockdown ($90K/year)
Ben Bozzay capitalized on the remote work boom during COVID-19, launching Tech Lockdown to offer DNS filtering services for adults. His YouTube content on avoiding compulsive internet habits went viral, drawing 50,000 website visitors a month and achieving a monthly recurring revenue of $7,500.
How much money it makes: $90K/year
How much did it cost to start: $200
How many people on the team: 0
Case study details the journey of how Tech Lockdown founder, Ben Bozzay, leveraged his programming skills to create a platform that helps adults be intentional with their internet use, generating an MRR of around $7,500 and attracting 50,000 monthly website visitors, all while balancing a full-time job and personal commitments.
8. Vidon.ai ($72K/year)
Alex, the founder of Vidon.ai, came up with the idea for his business while working at his previous startup. He realized that content marketing was becoming increasingly competitive, and video marketing yielded better results but was too time-consuming and expensive for small businesses like his. With a background in artificial intelligence and a passion for psychology and marketing, Alex embarked on creating Vidon.ai, an AI tool that instantly turns blog posts into shareable videos, helping companies to stand out and reach a broader audience. In just 5 months, Vidon.ai has scaled to $6K MRR and has assisted over 200 companies in transforming their written content into engaging videos.
How much money it makes: $72K/year
How much did it cost to start: $200
How many people on the team: 3
Vidon.ai, an AI tool that instantly turns blog posts into shareable videos, has scaled to $6k monthly recurring revenue in just 5 months and helped 200+ companies turn written content into video, with its most profitable channel being cold email campaigns and organic search expected to take over in the future.
9. Rytr ($60K/year)
Abhi, the founder and CEO of a startup platform and business incubator, came up with the idea for Rytr, an AI writing assistant, after realizing the pain points of content generation for small teams. With the potential he saw in GPT3 technology, Abhi set out to create an intuitive AI assistant that offered the best quality outputs, launching in April 2021. Since then, Rytr has become a market leader with 300,000+ customers worldwide and plans for future growth.
How much money it makes: $60K/year
How much did it cost to start: $25K
How many people on the team: 1
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
10. Zeeg AI ($48K/year)
Enema Onojah John, a former mechanic turned digital marketing consultant, founded Zeeg AI in March 2023 to streamline content creation for businesses. Within just three months, Zeeg AI exceeded 12,000 active users and generated over $4,000 in monthly revenue.
How much money it makes: $48K/year
How much did it cost to start: $3K
How many people on the team: 4
Zeeg AI is an all-in-one AI software solution that solves multiple daily problems for businesses and marketers, with features including copywriting, content marketing, SEO keyword research, AI speech-to-text, text-to-speech, and image editing, and has already gained over 12,000 active users and generated $4,000 in monthly revenue in just three months.
11. Predis ($12K/year)
Three founders with experience in tech and data science came up with the idea for PredisAI. After selling their previous company, they wanted to use their data science expertise to create a product that could predict social media post performance and provide recommendations for improvement. They validated the idea by speaking with social media agencies, influencers, and business owners, and now have 50 daily active users.
How much money it makes: $12K/year
How much did it cost to start: $10K
How many people on the team: 3
Predis.ai has developed an AI-based tool to improve social media posts' engagement, with their unique technology predicting engagement and suggesting improvements, and they have currently gained 50 daily active users.
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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.
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