Billionaire investor and entrepreneur Mark Cuban believes that the rise of artificial intelligence (AI) presents an excellent opportunity for teenagers to engage in side hustles. During a recent interview with CNBC, Cuban shared his insights on how a young person today could take advantage of AI’s potential.
Cuban outlined a three-step strategy for teens interested in pursuing AI-related side jobs. First, he recommends mastering the skill of crafting effective prompts for AI language models. Next, he suggests teaching peers how to use these prompts for school assignments. Finally, he proposed extending their services to small and medium-sized enterprises that have yet to fully utilize AI technologies.
He emphasized, “I would go to businesses, particularly small- to medium-sized ones that don’t understand AI yet. It doesn’t matter if I’m 16; I’d be teaching them as well.”
According to a LendingTree report, over half of Gen Z individuals in the U.S. are currently involved in side hustles. The niche field of AI prompt engineering—where individuals create queries for chatbots to obtain specific responses—offers a promising revenue stream. Data from ZipRecruiter suggests that AI tutors can earn an average starting salary of around $30,000 annually, while full-time AI prompt engineers may make as much as $129,500.
While a college degree is not required to enter this field, Cuban notes that gaining practical experience and obtaining relevant certifications can be crucial for mastering the intricacies of large language models. Online courses, such as those offered by Vanderbilt University or IBM, can help individuals grasp fundamental concepts in as little as a month.
Cuban’s own journey into entrepreneurship began at the age of 12 when he sold garbage bags door-to-door. He later sold collectibles to finance his education at Indiana University. After a short stint in banking following graduation, Cuban dived into entrepreneurship, ultimately selling his first business, MicroSolutions, for $6 million in 1990. His second venture, Broadcast.com, skyrocketed him to wealth when it was sold to Yahoo for $5.7 billion in 1999.
This insight from Cuban serves as an inspiring reminder of how today’s technological advancements can empower young individuals to craft their own paths to financial independence and success. By leveraging emerging tech like AI, teenagers have the potential to turn their skills into lucrative opportunities while making a positive contribution to the businesses around them.