Why are AI Writing Tools becoming big now? Because GPT-3, which is a machine learning based natural language application, has an open API that is allowing these applications to be built on top.
What are AI writing tools? These are tools which help writers write faster or better.
Why are AI writing tools important? Help you create content much quicker and content is super important for growth of internet businesses.
Players in this market:
Copy.ai – raised $3 million
Peppertype – part of the Indian company Pepper Content
Opportunities for AI Writing tools. This is not a winner take all market – there’s no reason why one company should dominate over all the others since they’re all using the same AI framework from GPT-3. Hence, even though there are several players in the market, it’s still nascent and has a lot of room to grow – built an AI writing tool if you can.
a) Make it for different platforms and use cases – for example, Shopify to improve product descriptions.
b) Make it for specific niches – for example, get really good at copy for football or F1. For example, you could have a writing tool where you just input the race or match results and it pumps out a bunch of articles based on what it knows about the individual players/drivers.
c) Use it for your business and SEO – pump out that content.