Businesses to Start in 2024: Thriving in the AI Era

Modern Mentor AI

Posted in Business • 5 min read • January 24th, 2025

Relevant Influencers

Timothy Ferriss

Business, Investing

Tim Ferriss is an acclaimed author, investor, and business innovation guru. Recognized as one of Fast Company's 'Most Innovative Business People' and Fortune's '40 under 40', he has advised early-stage technology companies, such as Uber and Facebook. Ferriss has authored four #1 New York Times and Wall Street Journal bestsellers, with 'The 4-Hour Workweek' being his flagbearer. His 'The Tim Ferriss Show' podcast made him 'the Oprah of audio'. Ferriss graduated from Princeton University in 2000, studying language acquisition and East Asian Studies. He honed his non-fiction writing with Pulitzer Prize winner, John McPhee.

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Ray Dalio

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Ray Dalio, founder and co-chairman of Bridgewater Associates, has built the world's largest and highest performing hedge fund in the past 40 years. He is the author of Principles, a number one New York Times Bestseller and Amazon Business Book of the Year. Appearing on Time 100's list of the world's most influential people and Bloomberg Markets' list of 50 most influential individuals, Dalio resides with his family in Connecticut.

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Michael E. Salla

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Dr. Michael Salla is a renowned scholar with expertise on international politics, conflict resolution, and U.S. foreign policy. He has held academic appointments at several institutions, including American University and George Washington University in Washington D.C., and Australian National University in Canberra, Australia. Dr. Salla, who holds a Ph.D in Government, has authored multiple books on international politics, and is credited with pioneering 'exopolitics', a field studying political processes associated with extraterrestrial life. Salla has written a series of best-selling books on the subject. He is the Founder of the Exopolitics Institute.

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Brendan Kane

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Brendan Kane is a forward-thinking strategist for Fortune 500 companies, celebrities, and brands, specializing in audience engagement. He began his career at Lakeshore Entertainment, pioneering the company's first influencer campaign and working on films generating a $685m worldwide gross. Kane later developed platforms and applications for high-profile clients such as Taylor Swift and Rihanna, accessed by over 50 million people globally. He co-created an advertising technology with MTV, utilized by companies like MGM, Lionsgate, and Sony. Past roles include Vice President of Digital for Paramount Pictures and leading a major social optimization firm. Known for acquiring a million followers in under 30 days, Kane wrote bestseller One Million Followers to share his methods.

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Howard Marks

Business, Investing

Howard Marks is the co-founder and chairman of Los Angeles-based investment firm, Oaktree Capital Management, which boasts $80 billion under management. Academically, Marks achieved a Bachelor's Degree in Finance from the Wharton School and solidified his background by gaining an MBA in Accounting and Marketing from the University of Chicago.

Jake Knapp

Business, Marketing

Jake Knapp, author of "Make Time" and "Sprint", is renowned for creating the design sprint during his decade at Google and Google Ventures. He has mentored 150+ companies such as Slack, Uber, New York Times and LEGO, teaching his process. He is based in San Francisco where he resides with his family.

Marty Cagan

Business, Marketing

Marty Cagan, founder of the Silicon Valley Product Group, is a renowned figure in the tech industry who was previously an executive at notable companies like Hewlett-Packard, Netscape, and eBay. His expertise spans product management, software development, product marketing, user experience design, software testing, and general management. He also offers guidance to tech organizations via SVPG. A prominent author, his written works include "INSPIRED: How To Create Tech Products Customers Love", "EMPOWERED: Ordinary People, Extraordinary Products", and "TRANSFORMED: Moving To The Product Operating Model". He is also a distinguished keynote speaker.

Lyn Alden

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Lyn Alden is a renowned investment and macroeconomic analyst offering research for diverse investors through her platform, lynalden.com. Her unique expertise combines engineering and finance, focusing on energy and monetary system analysis. Besides research publishing, Alden holds positions on the board of Swan.com and acts as an advisor to venture capital firm ego death capital.

Donald A. Norman

Business

Don Norman is a distinguished designer known for his focus on the intersection of people and technology. Noted by Business Week as one of "the world's most influential designers," Norman's influence spans books, lectures, and consultations. He has held numerous esteemed positions, such as Vice President at Apple, and has been honored with multiple degrees and awards. His prolific work includes renowned books like "The Design of Everyday Things" and "Design for a Better World". Norman asserts the importance of design in solving pressing global issues, emphasizing it as a tool to understand and address human behavior. Find his work at www.jnd.org.

Rob Fitzpatrick

Business, Marketing

Rob Fitzpatrick is an author, entrepreneur, and business mentor. Over 14 years, he's run numerous small businesses and shared his knowledge in three handbooks: The Mom Test, The Workshop Survival Guide, and Write Useful Books. His books are studied at Harvard, MIT, and UCL, while companies like SkyScanner and Shopify utilize them for training. Having run training programs for companies like HP and Sony Mobile, he's also helped mentor numerous startups. His advice is practical and proven. Fitzpatrick also shares insights via short YouTube videos and more information about him can be found at robfitz.com.

In an era dominated by rapid technological advancements, particularly in artificial intelligence (AI), starting a business in 2024 requires a keen understanding of the current landscape and future trends. Entrepreneurs need to consider not only the opportunities AI presents but also the resilience of their business models against AI-driven disruptions. Here, we explore several business ideas that align with these considerations, focusing on ease of entry, minimal capital requirements, and relevance in the AI age.

1. AI-Enhanced Personalized Learning Services

As AI continues to revolutionize education, personalized learning services that use AI algorithms to tailor educational content to individual learning styles, speeds, and interests offer a promising business opportunity. With minimal overhead, an entrepreneur can start this business by leveraging existing AI platforms and focusing on niche markets such as adult education, professional development, or specialized training for emerging industries.

Example: Duolingo, an AI-powered platform, offers personalized language learning experiences. A similar model could be applied to other subjects or skills.

2. AI-Driven Content Creation Services

Content is king in the digital age, and AI-driven tools are making content creation more efficient and accessible. Starting a business that offers AI-powered content generation services, such as blog posts, marketing copy, or social media content, requires little more than a laptop and a subscription to AI content generation tools.

Example: Companies like Jasper (formerly Jarvis) provide AI-based content creation tools that can inspire entrepreneurs to offer content services tailored to specific industries or content types.

3. Sustainable Tech Repair and Upcycling

In a world increasingly concerned with sustainability, a business focused on repairing, refurbishing, and upcycling technology products can be both profitable and environmentally beneficial. This business doesn't require significant capital investment; a good understanding of technology and some basic tools can get you started.

Example: iFixit offers guides for repairing various devices, highlighting the potential for businesses that provide repair services or DIY repair kits.

4. AI-Enhanced Health and Wellness Coaching

With health and wellness being a perennial concern, integrating AI to offer personalized coaching services can set your business apart. This could include nutritional advice, fitness plans, or mental health support, tailored to individual needs through AI analysis of health data.

Example: Fitbit uses AI to offer personalized fitness and health insights. An independent business could provide similar personalized services with a focus on holistic wellness.

5. Niche E-commerce Curated by AI

E-commerce remains a lucrative field, but the key to standing out in 2024 will be niche targeting and personalization. An AI-curated e-commerce platform that offers products based on deep consumer behavior analysis can attract customers looking for tailored shopping experiences.

Example: Stitch Fix uses AI to personalize clothing selections for its customers. A similar approach can be applied to various niche markets, from eco-friendly products to hobby-specific items.

6. Localized AI-Driven Market Analysis Services

Small and medium-sized enterprises (SMEs) often struggle to access sophisticated market analysis due to cost constraints. Offering AI-driven market analysis services tailored to local businesses can fill this gap, requiring only analytical skills and access to AI tools.

Example: Think with Google offers market insights that could inspire a localized service focusing on specific regions or industries.

7. Virtual Event Planning with AI Integration

As the world embraces remote work and digital gatherings, virtual event planning becomes increasingly relevant. Incorporating AI to enhance attendee engagement, personalize experiences, or optimize schedules can make your service stand out.

Example: Hopin provides a platform for hosting virtual events with various engagement tools. An independent business could offer specialized virtual event planning services with added AI functionalities for niche markets.

8. AI-Based Cybersecurity Services for Small Businesses

Cybersecurity is a major concern for businesses of all sizes, but small businesses often lack the resources to effectively protect themselves. Offering AI-based cybersecurity services tailored to small businesses can be a cost-effective and highly demanded solution.

Example: CrowdStrike offers AI-driven cybersecurity solutions. A similar, more accessible service for small businesses could address a significant market need.

9. Custom AI Chatbot Development for Customer Service

Chatbots have become a staple in customer service, offering 24/7 assistance without the overhead of human staff. Starting a business that develops custom AI chatbots for small to medium-sized businesses can be done with software development skills and an understanding of AI.

Example: ManyChat provides chatbot services for marketing and customer service. Offering bespoke chatbot solutions for specific industries or business needs could carve out a unique market niche.

10. Ethical AI Consulting

As AI becomes more prevalent, ethical considerations and compliance with regulations become increasingly important. Starting a consulting service that helps businesses implement AI in an ethical, transparent, and compliant manner can fill a growing need.

Example: Element AI (acquired by ServiceNow) provided AI solutions with an emphasis on ethical use. An ethical AI consulting firm could advise companies on best practices, regulatory compliance, and ethical frameworks.

Starting a business in 2024 within the realms of AI doesn't necessarily require massive capital or cutting-edge tech. Instead, leveraging AI tools and platforms to offer personalized, niche services can provide value in various industries. By focusing on areas where AI enhances human experience rather than replacing it, entrepreneurs can create sustainable, future-proof businesses that thrive in the age of AI.