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Next Gen Econ > Personal Finance > People Who Use AI Earn More-How To Use AI To Increase Your Income
Personal Finance

People Who Use AI Earn More-How To Use AI To Increase Your Income

NGEC By NGEC Last updated: May 8, 2024 10 Min Read
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The AI research and presentation tool Tome recently conducted a survey of over a thousand workers and discovered that those who began using AI in the past 18 months are now reporting significant increases in earnings.

In a recent interview with Keith Peiris, Tome’s CEO stated, “We’re witnessing a divide forming between the AI “haves” and “have-nots” — and those who are AI-savvy are now beginning to dramatically outperform their peers”

How Has AI Impacted Peoples Productivity & Earnings

The Study found that many individuals in sales and marketing roles in particular are now using AI in some capacity. This could simply be ChatGPT, but for many it goes much deeper into AI tools for presentations, email, research, lead generation, marketing — you name it. AI is now quite entrenched in the workplace.

Now, here’s the first surprising finding: of those who have adopted AI at work, the survey asked if they had a correlating increase in productivity: 96% reported an increase.

Of those individuals, when asked if that productivity increase led to an increase in their earnings, 93% said yes. When asked, “by how much,” the responses ranged from as little as $1,000 to as high as $1 million. But most people stated their income had increased by tens of thousands of dollars, while 40% of respondents reported increases in the hundreds of thousands of dollars.

How To Leverage AI To Increase Your Income

These survey findings definitely prove that we cannot afford to remain passive when it comes to adopting AI at work. To that end, here’s a 5-step plan that can enable anyone to leverage AI to increase their income and productivity.

Step 1: Think Beyond ChatGPT and Find Tools Purpose-Built For Things You Spend Your Time On.

We’re living in the Age of AI, and there are thousands of tools that have cropped up over the past 24 months that you’ve likely never heard of, that might change your life. ChatGPT is an amazing tool, and it ignited this entire movement, but it’s just one of thousands.

For example, everyone makes presentations. You make them to share your ideas internally, or to organize projects, or to sell to customers. You, in theory, could use ChatGPT to generate copy and Midjourney to generate images, and you copy and paste into Google
Google
Slides. But Tome does much more than that. It is a presentation tool that is built for persuasive communication. Let’s say you’re making a sales presentation. With Tome, you can input your target’s company name, the tool they currently use that you’re looking to replace, and any other basic info, and Tome can pull data from sources like Salesforce
Salesforce
and auto-generate a presentation that your sales target would assume took you weeks.

The sales team at the unicorn Stytch adopted Tome and 12X’d their revenue in the past 12 months. The ability to personalize and customize presentations with just a few prompts has been hugely valuable for their team.

You need to look at where you spend your time and proactively search for tools that can help you. Tome is just one example. But there are dozens. They are out there.

Step 2: Don’t Just Focus on AI tools for transactional Communications — Analyze Your Deep Work

The utility of AI in helping you nail an email, presentation, or blog post is obvious. We all want our communications with others (particularly when you’re trying to influence them to do something) to be as polished as possible, and it’s evident that’s what LLMs are quite helpful with.

But, if you’re looking to truly up your game, save time, and free yourself to pursue higher-value activities, you need to use AI to improve the quality of the time you spend on “deep work.” Here’s an example. There’s a tool called Brox.ai. They conduct detailed surveys each month of thousands of people, feed that data into their AI model, and can predict the results of any focus group with 99% accuracy. Imagine having a crystal ball in which you could ask things like: “should we make th “buy now” button on our website purple or yellow if we want to drive higher conversion rates with Gen Zs — and voila, instead of spending $100k on A/B testing, you simply know the result. That is how granular Brox has become — and they’re now a critical tool employees at Amazon
Amazon
, TBS, and major startups and Fortune 500s are using.

By integrating AI tools like Brox.ai into your workflow, you can dramatically shorten research cycles and make data-driven decisions that keep your offerings aligned with consumer expectations.

The takeaway here is that you can no longer afford to be passive when it comes to familiarizing yourself with AI tools that can automate mundane tasks and free you for higher-value activities.

Step 3: Integrate AI sSeamlessly Into Your Daily Tasks.

According to Keith Peiris, integration is key to making AI a valuable asset rather than just another tool. Start small by automating routine tasks and gradually increase the complexity of tasks you delegate to AI. For instance, begin by using AI for scheduling and email management, then progress to utilizing AI for customer interaction and lead generation. The smoother the integration, the more natural it will become to rely on AI for complex decision-making and strategic planning.

On a practical level, here’s one tool that basically applies to everybody. No matter what your line of work is, you likely rely heavily on Google. But, Google was designed literally 24 years ago and not much has changed. You browse third party websites to find what you’re looking for. If you’re looking for a needle in a haystack, you could search for hours.

Enter: Perplexity. Perplexity is like ChatGPT but it’s connected to the Internet. So, instead of ever using Google to find information, you can just ask it a question: what were the annual sales of the top 10 automakers in the US in Q4, 2023, and it will give you an answer. The time savings is almost unimaginable — and time savings, Tome’s survey found, is a key enabler of increasing your income (as it enables you to spend your time on income producing activities rather than non-income producing tasks).

Step 4: Measure The Impact and Adjust Strategies Accordingly.

To truly benefit from AI, you must track its impact on your productivity and earnings. Set specific metrics to evaluate whether AI implementation is meeting your expectations. These could include time saved, increase in leads generated, or improvement in customer satisfaction. Use this data to tweak your AI usage, focusing on areas with the most significant return on investment.

Step 5: Stay Updated and Evolve With AI Advancements.

AI technology is rapidly evolving. Staying informed about new tools, updates, and best practices is essential. Participate in industry forums, subscribe to tech newsletters, and attend relevant workshops or conferences. By keeping abreast of AI developments, you can continually refine your toolkit and strategies, ensuring you maintain a competitive edge.

By following these steps, professionals can significantly enhance their productivity and increase their income using AI. It’s clear that the technology is not just a passing trend but a fundamental shift in how business is conducted. Those who are proactive in embracing AI will find themselves well ahead of their peers in both efficiency and earnings, solidifying their place in an increasingly AI-driven market.

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