The internet is flooded with articles and videos touting that ChatGPT can make you rich overnight. Like it’s some unicorn capable of instant wealth if you do “this and that”. Which begs the question, what’s the reality of this? Is there some truth in the claims? Or is it all just misleading information for some clicks?
I tried to find out, basing it on actual millionaires who use ChatGPT or helped them get rich using AI.
In this article, we’ll explore how successful entrepreneurs such as Gary Vee, Shaan Puri, and Patrick Bet-David are leveraging ChatGPT to scale their businesses. We’ll be talking about how these wealthy business leaders are effectively using ChatGPT to grow their success. let’s get to it!
Note: While these are general suggestions, it’s important to conduct thorough research and due diligence when selecting AI tools. We do not endorse or promote any specific AI tools mentioned here.
Table of Contents
Understanding ChatGPT’s Role
What is ChatGPT?
ChatGPT is a sophisticated AI model developed by OpenAI that processes natural language inputs to generate human-like responses. While it has been widely used for tasks like content creation, coding, and answering questions, its true power lies in its ability to streamline and optimize existing business processes.
I’d like to heavily emphasize the optimizing and streamlining “existing” business processes part of that sentence. Because after all, a tool is just a tool.
Common Misconceptions
One common misconception is that ChatGPT can instantly make you rich. The reality is far more grounded. While the AI tool can automate repetitive tasks and provide inspiration, it lacks the innovation and critical thinking required for entrepreneurship. At least currently it is, who knows how far AI can truly reach in the future? But for now, ChatGPT should be viewed as a powerful assistant rather than a silver bullet for business success.
“Technology is nothing. What’s important is that you have faith in people, that they’re basically good and smart — and if you give them tools, they’ll do wonderful things with them. Tools are just tools. They either work, or they don’t work. – Steve Jobs
Examples of How the Rich Use ChatGPT
Gary Vee
Gary Vaynerchuk, also known as Gary Vee, uses ChatGPT to streamline many of his business processes, particularly in digital marketing.
He leverages ChatGPT for writing blog posts focused on SEO, a time-consuming task for many businesses. By generating article ideas and providing basic drafts, ChatGPT helps his team save valuable time, allowing them to focus on strategy and refinement.
For example, Gary may use prompts like:
“Generate blog post ideas related to [business topic], incorporating SEO strategies for increased traffic.”
The AI model is also a great tool for creating social media content ideas. Gary advocates generating viral content ideas for platforms like Instagram and TikTok and that ChatGPT helps brainstorm engaging content that resonates with his target audience, which he can later optimize.
Shaan Puri
Shaan Puri, an entrepreneur who sold his company Milk Road, uses ChatGPT in creative ways to enhance his business and podcast production.
He used ChatGPT to create a rap song for his podcast, showcasing its ability to generate creative content.
By asking ChatGPT to:
“Write a rap song about entrepreneurship for a podcast intro”
Shaan brought a unique twist to his show. In addition to his podcast, Shaan experimented with using ChatGPT to build a basic website. This demonstrates how ChatGPT can support even non-technical entrepreneurs in building their online presence.
For Shaan, ChatGPT is not a tool for generating new business ideas but an aid in increasing efficiency and creativity. It allows him to maximize his productivity while automating smaller, repetitive tasks.
Patrick Bet-David
Patrick Bet-David, founder of Valuetainment and PHP Agency, has integrated ChatGPT into multiple areas of his business.
One key area where Patrick uses ChatGPT is for legal document analysis. Instead of relying solely on lawyers for initial contract reviews, he asks ChatGPT to:
“Scan this legal contract for important clauses related to intellectual property.”
Now, before jumping into anything rash, please always consult your lawyer when it comes to anything legal. ChatGPT can help in reviewing documents but nothing replaces the work of a professional and expert in the field. Always do your due diligence!
Patrick also uses AI to train staff by simulating customer interactions or sales objections.
For instance, he might prompt ChatGPT to:
“Generate 10 common objections real estate agents face and how to address them effectively.”
Finally, Patrick uses ChatGPT to brainstorm content for his social media channels and videos, asking for ideas like:
“Generate 10 engaging finance topics suitable for TikTok.”
Why ChatGPT is a Support Tool
While AI tools like ChatGPT have transformed the way businesses operate, it’s important to understand that these technologies are not substitutes for human expertise. AI, no matter how sophisticated, lacks the emotional intelligence, creativity, and nuanced decision-making that only humans can provide. Successful entrepreneurs and professionals recognize this distinction, leveraging AI as an enhancement to human capability rather than a replacement.
Emotional Intelligence: The Human Touch Matters
One of the core limitations of AI is its inability to truly understand and process emotions. Human interactions are not just about facts and figures; they involve empathy, intuition, and the ability to read between the lines.
As Daniel Goleman, an expert in emotional intelligence, said:
“What really matters for success, character, happiness and life-long achievements is a definite set of emotional skills—your EQ—not just purely cognitive abilities measured by conventional IQ tests.” – Goleman, Daniel. Emotional Intelligence: Why It Can Matter More Than IQ.
AI can analyze data or predict trends, but it cannot empathize with a frustrated customer or mentor an employee struggling with a personal issue.
For example, in customer service, AI chatbots can efficiently handle basic inquiries, but when a client is upset or needs a personalized solution, a human representative is crucial. The ability to listen actively, offer reassurance, and negotiate a win-win outcome relies heavily on emotional intelligence—something AI cannot replicate.
Innovation and Creativity: A Human Strength
Creativity is another domain where human expertise shines. While AI can process enormous datasets to suggest trends or generate ideas based on existing patterns, true innovation requires thinking beyond the available data.
As Steve Jobs famously said,
“Innovation distinguishes between a leader and a follower.”
AI operates within the parameters of its programming and the data it has been trained on. It cannot “think outside the box” or bring forward revolutionary ideas that haven’t been considered before.
Consider product design. AI might help streamline the process by analyzing market trends, but it is human designers who combine insights, creativity, and aesthetics to create products that emotionally resonate with people. The iPhone, for instance, was not just a technological breakthrough—it was a result of human creativity, vision, and a deep understanding of how people interact with technology.
Collaboration: Humans and AI Together
The most successful businesses understand that AI works best when it supports human expertise rather than replaces it.
Businesses should use AI to augment decision-making, automate repetitive tasks, and free up human workers to focus on high-value activities that require emotional intelligence, judgment, and creativity.
Take marketing as an example. AI tools can analyze consumer behavior and automate content distribution, but it takes human marketers to create compelling stories and campaigns that resonate emotionally with audiences. A marketing team might use AI to understand which segments are most responsive to a product, but it’s the creative talent of the human team that develops the messaging and visuals that captivate the audience.
Real-World Scenario: The Balance of AI and Human Expertise
Imagine a company using AI to streamline its hiring process. The AI can screen resumes, sort through qualifications, and even conduct initial interviews. But when it comes to selecting the right candidate, human expertise is crucial. A hiring manager’s intuition, interpersonal skills, and ability to gauge a candidate’s cultural fit cannot be substituted by an algorithm.
For example, an AI might overlook a candidate with unconventional experience, while a human manager could recognize the potential for innovation and creativity that lies beyond the standard resume bullet points. By combining AI efficiency with human insight, companies can make better decisions.
AI tools like ChatGPT are powerful aids, but they should be seen as just that—tools.
As Elon Musk once put it,
“AI will make jobs kind of pointless… but we need to recognize that we are special. There’s something special about the human mind.”
The key to success is not in replacing humans with AI but in integrating AI into workflows to enhance human strengths. Entrepreneurs and professionals who understand this will be better positioned to innovate, empathize, and make decisions that drive long-term success.
By embracing AI as an assistant and retaining the irreplaceable value of human expertise, businesses can foster an environment of innovation, empathy, and growth that AI alone could never achieve.
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Conclusion
To sum it all up, while ChatGPT is a powerful assistant, it should not be viewed as a one-stop solution for business success. The most successful entrepreneurs leverage it as a tool to enhance their workflows, creativity, and operational efficiency. It is a tool, not their bread and butter that made them rich.
So whether you’re using ChatGPT to write a blog, generate legal documents, or brainstorm new business ideas, remember that it works best when combined with human expertise and creativity. Entrepreneurs who master the balance between AI tools and personal skills will find themselves thriving in this new age of technology-driven business.
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Disclaimer: The information provided here is based on available public data and may not be entirely accurate or up-to-date. It’s recommended to contact the respective companies/individuals for detailed information on features, pricing, and availability.
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Peter Kim, MD is the founder of Passive Income MD, the creator of Passive Real Estate Academy, and offers weekly education through his Monday podcast, the Passive Income MD Podcast. Join our community at the Passive Income Doc Facebook Group.
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