In a rapidly changing economic landscape, individuals who embrace the pursuit of profit continue to thrive. From entering the business world to investing in real estate, foreign trade, and mobile internet, these savvy entrepreneurs chase various emerging opportunities, with artificial intelligence (AI) being the current frontier of growth within the stagnant economy.
As many remain indifferent or fearful of AI’s potential, a group of innovators has already begun to capitalize on its advantages. The AI sector is evolving at a breakneck pace, particularly in the development of foundational large models, an endeavor that requires substantial investment. In 2024, the competitive landscape for major AI model providers is becoming clear, with capital flowing toward a handful of AI unicorns and major internet companies. According to industry statistics, from January to June 2024, China’s large-model industry recorded 35 instances of financing exceeding one billion yuan, totaling over 300 billion yuan, a figure that contrasts sharply with the mobile internet era a decade ago. The most significant funding went to the unicorn known as “Moons of Shadow,” which secured over 7 billion yuan in financing in February.
While high-profile startups seek funds for their long-term growth and explore commercial applications, new AI companies face significant challenges in securing financing. The first to benefit financially in this burgeoning market are small businesses that discover viable commercial applications, often consisting of hardworking individuals leveraging AI tools for diverse purposes, such as content creation, e-commerce, and design.
This new wave of entrepreneurs represents a collective known as ‘small B, big C,’ signifying their role as consumers of AI tools while simultaneously evolving into commercially capable individuals. This article is part of a continuing series that examines those shaping the future of AI.
One example is Chen Zihao, a bartender from Beijing, who utilizes AI to generate content for social media. He describes how relatively easy it was to grow an audience when he started a year ago. Looking to pay off debts incurred from previous ventures in cryptocurrency, Chen aims to open his bar by age 28. Creating and managing social media accounts with AI is a substantial side hustle for him, involving a multi-step commercialization process that includes content creation and affiliate marketing.
Chen has experimented with AI-generated stories and videos, leveraging tools like ChatGPT to develop narratives and visuals. He successfully attracted an audience by focusing on engaging, often risqué themes. Monetization comes from selling products online and earning revenue through engagement on social media platforms. Interestingly, he has discovered that AI can vastly reduce the costs associated with content creation, enabling him to generate income efficiently.
However, as the sector becomes more competitive, Chen finds it increasingly difficult to establish new accounts. With many flocking to content creation and social media marketing, the landscape is evolving rapidly. He anticipates that the saturation of users will diminish profitability as awareness of AI-driven content creation rises.
In the upper echelons of the industry, seasoned content creators and AI influencers have carved out niches that command attention and revenue. Notable figures in this domain display advanced commercial strategies, meticulously curated images, and high-quality content that effectively engages audiences.
As for the future, Chen and his friends have pivoted towards cross-border e-commerce, selling a variety of products through platforms like Amazon and TikTok Shop. They use AI to enhance their marketing efforts, creating visually appealing product listings to attract international buyers. This shift signifies a broader trend where many former content creators are moving away from AI-driven social media towards direct sales strategies, reflecting the adaptability required in today’s fast-paced marketplace.
The overall sentiment in the AI landscape is one of cautious optimism, with some brands enthusiastically embracing AI while others remain apprehensive. Companies are starting to experiment with AI-generated content in their marketing strategies, but traditional hesitations around ethics and brand identity remain a roadblock for many.
As they navigate this evolving market, both aspiring entrepreneurs and established brands must educate themselves and assess the value of AI in their business models. The pursuit of profit, driven by innovation and resilience, continues to redefine the entrepreneurial spirit in America today.