ChatGPT’s New App Store: “Biggest Wealth Creation Moment Since the iPhone”

The launch of an app store for a popular AI chatbot presents a significant wealth creation opportunity, potentially mirroring early successes seen with app stores for other platforms. This new marketplace allows developers to integrate their applications directly into the AI experience, transforming it into a more comprehensive tool. The ease of discovery, where the AI can proactively suggest relevant apps based on user queries, is a key differentiator and a major advantage for developers looking to reach a massive, engaged audience.

This integration enables users to perform complex tasks directly within the AI interface, such as creating designs, learning new subjects, or managing finances, without needing to switch between multiple platforms. The sheer scale of the AI's user base, reportedly 800 million weekly active users, offers an unprecedented opportunity for businesses and individual creators to market their products and services. The emphasis is on building contextual, easy-to-access applications that address specific user needs, making them discoverable and useful within the AI's conversational flow.

The potential for businesses and individuals to build and launch applications within this new AI ecosystem is vast. From specialized tools like an AI tax assistant or a K1 finder to more general services like a healthcare concierge or a credit score repair tool, the opportunities are limited only by imagination and the ability to identify and solve real-world problems for a massive user base. The development process for these applications can be surprisingly swift, with MVPs potentially built in a matter of weeks.

• The launch of the ChatGBT app store is identified as a significant wealth creation moment in AI.
• The app store allows for the integration of third-party applications directly into the AI experience, turning it into a "mini internet."
• Key to this opportunity is the contextual discovery of apps, where the AI can suggest relevant tools based on user prompts.
• The platform boasts 800 million weekly active users, offering a massive audience for app developers.
• Numerous business ideas are discussed, including an AI tax guy, K1 agent, AI healthcare concierge, meme generator, AI grandma, and credit score repair tool, with potential to build MVPs in weeks.

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The ChatGBT App Store: A New Era of AI Integration [00:00]

• The emergence of an app store for ChatGBT is highlighted as a potentially major wealth creation event in the AI space.
• Early adoption of app stores has historically led to the creation of significant businesses.
• The speaker expresses a desire to explore business ideas within the realm of the ChatGBT app store.

This is probably one of the bigger wealth creation moments in AI.

The introduction of an app store for ChatGBT is framed as a potentially transformative moment for wealth creation, drawing parallels to historical precedents where early entrants in new digital marketplaces achieved substantial success.

The Announcement and Its Capabilities [01:02]

• The ChatGBT app store was launched at OpenAI's Dev Day.
• Examples of app integration include using Figma to turn a sketch into a workable diagram and connecting with Coursera to learn about machine learning.
• Apps can introduce risks, and data is shared with them.
• ChatGBT now features a "canvas" for more visual content consumption, moving beyond just text.
• Apps can be found by actively adding them or by the AI suggesting them contextually when a user asks a relevant question.

The ability to use apps within ChatGBT basically turning ChatGBT into like a mini internet right you don't need to leave ChatGBT if you can just connect to apps.

This section details the core announcement of the ChatGBT app store, showcasing its functionality through practical examples and explaining the mechanisms by which users can discover and interact with integrated applications.

Monetization and Opportunity for Developers [02:46]

• The primary opportunity lies in building apps that surface when users ask specific questions.
• With 800 million weekly active users, developers can gain significant exposure and potential for sales.
• A live demonstration shows how typing a request for logo design and adding Canva resulted in a logo design within ChatGBT.
• The AI-generated logo received a 6.5 out of 10 rating, indicating it's a good starting point for iteration.

And that's the opportunity right because if someone listening to this can actually build an app so that it shows up when you ask it a question.

The speaker emphasizes the immense business potential for developers, highlighting how building apps that seamlessly integrate with user queries can lead to direct access to a massive audience and potential for significant revenue.

The Evolution of Side Hustles and AI [04:45]

• Many people want side hustles but overthink them and never launch.
• AI enables a rapid transition from idea to first sale, potentially within 7 days.
• A new AI side hustle crash course is mentioned, breaking down the process into simple, bite-sized steps for launching a side hustle without guesswork.

But because of AI, you can go from an idea to your first sale in only 7 days.

This part pivots to the broader implications of AI for entrepreneurship, specifically for side hustles, suggesting that AI tools can significantly accelerate the process of launching a new venture.

Key App Integrations and User Experience [05:31]

• Zillow is mentioned as another integrated app, allowing users to interact with real estate listings using natural language.
• The experience of using these integrated apps can evoke feelings of awe and existential questioning about relevance in the face of advancing AI.
• The transition from web to mobile is cited as a historical parallel for significant technological shifts, suggesting that embracing this AI app ecosystem is crucial for future success.

It is possible that, you know, this becomes a big thing. And if it becomes a big thing, you're gonna want to have an app here.

The discussion continues with examples of app integrations, like Zillow, and reflects on the profound impact these advancements have on how individuals perceive their roles and future in a rapidly evolving technological landscape.

Distinguishing the App Store from Custom GPTs [06:43]

• Custom GPTs, launched previously, were considered a flop.
• The current app store is different because it's contextual and doesn't require users to download or set up separate apps.
• The ease of discovery and use, where apps are suggested or directly integrated into the AI's response, is a key advantage.
• This contextual nature makes it easier for customers and increases the discovery opportunity for developers.

What makes this so much better is it's contextual. You just type in something on chat GBT and yeah, you you might have to mention it, but if you don't have to mention it and you just said, "Hey, I wanted a logo design." and then it pulls up Canva or pulls up another app, the discovery uh opportunity is huge and it's just easier for the customer because they don't have to like set up anything.

The speaker clarifies why the new app store model is expected to succeed where custom GPTs faltered, emphasizing the importance of seamless, contextual integration and user-friendliness.

Plugin Businesses and Startup Ideas [07:34]

• Investment in companies that pivoted to ChatGBT plugins has shown significant success.
• The speaker is eager to explore business ideas for both apps and plugins related to ChatGBT.
• A list of 15 ideas from ideabrowser.com is available, with highlighted favorites.

We've talked about WordPress plugins um and a bunch of different plug-in businesses and and I'm on board with those and so I'm eager to see what ideas you have uh that are related to chatg for both apps and plugins.

This section confirms the viability of plugin-based businesses within the AI ecosystem and sets the stage for exploring specific startup concepts.

AI Tax Guy: A Business Opportunity [08:14]

• An idea for an "AI Tax Guy" is presented, where users can prompt the AI to file quarterly taxes.
• This app would feature custom UI for deductions, autofilled forms, and one-click filing.
• It would connect to services like Stripe, Plaid, and Google Drive.
• The concept is to build this "tax guy" within a prompt on ChatGBT, representing a significant opportunity.

So, imagine if you were able to prompt file my quarterly taxes. It shows a custom UI that shows deductions, autofilled forms, one-click filing.

The "AI Tax Guy" is presented as a concrete example of a potentially high-value application that leverages AI to simplify complex financial tasks for users.

Bank Statement Converter: A Niche Success Story [08:41]

• A real-world example of a successful niche AI app, Bankstatementconverter.com, is discussed.
• This app generates significant monthly revenue, estimated between $40,000 and $50,000.
• Its success lies in serving a very specific need for users who require bank statement conversions.
• The domain name is noted as being simple and effective.

So, it's a very very niche thing, but it's a thing where if you need it, you really need it.

The success of Bankstatementconverter.com is used to illustrate how even highly specialized applications can achieve substantial revenue by addressing critical user needs.

The K1 Agent: Solving a Personal Pain Point [09:10]

• The speaker shares a personal challenge with managing numerous K1 forms for tax purposes, which come from various investments like real estate.
• Finding these K1s in Gmail is time-consuming due to different vendors and arrival times.
• An idea for a "K1 agent" within ChatGBT is proposed to quickly find all K1s in Gmail.

And just finding them in my Gmail takes forever because what happens when you invest in real estate or, you know, different projects, you get K1's and they don't all they come from each vendor and they come at a variety of times and they're in all different formats.

The "K1 agent" idea arises from a personal struggle, demonstrating how identifying and solving one's own problems can lead to valuable business concepts.

AI Healthcare Concierge: Streamlining Access [10:31]

• An app concept for an "AI Healthcare Concierge" is presented.
• Users can prompt the AI to find a dermatologist who accepts a specific insurance (e.g., Blue Cross).
• The app would connect to services like ZuckDoc and insurance networks, displaying an interactive map and booking options.
• Monetization could come from affiliate fees or acquisition by larger companies.

Find me the best dermatologist near me that takes Blue Cross.

This idea showcases how AI can be used to navigate complex service-finding scenarios, such as healthcare, by integrating with various data sources and providing actionable results.

Building Apps with AI and Human Oversight [11:02]

• Individuals with design firms can leverage their own resources to build these apps.
• For those without a firm, AI coding tools like Claude and Cursor can be used.
• Realistic development time for a working MVP is estimated at two to three weeks, with potential approval time from OpenAI adding more weeks.
• Even with AI tools, human review, optimization, and understanding of customer needs are crucial.

Realistically two to three weeks to get something that's working really well. And then you need a probably well then you'd have to make sure that you get approved by OpenAI which you know might take some more time but maybe four four weeks in total 30 days.

The practicalities of building these AI-integrated applications are discussed, highlighting the role of AI tools in development while stressing the continued necessity of human input and oversight.

AI Meme Generator: Capitalizing on Virality [13:11]

• Memes are becoming increasingly popular, especially in the AI age.
• There's an opportunity for someone to own the "make a meme about X topic" functionality and potentially earn millions annually.
• While possible on ChatGBT, current meme generation is not optimized, presenting an opportunity for dedicated apps.

I think that whoever owns the make a meme about, you know, XYZ topic is, you know, probably makes a few million dollars a year.

The potential for a specialized AI meme generation tool is explored, recognizing the significant cultural impact and commercial value of viral content creation.

AI Grandma: Providing Empathetic Advice [13:52]

• An idea for "AI Grandma" aims to offer warm, blunt, and human advice, addressing feelings of overwhelm.
• This involves building a brand around a persona, such as an 85-year-old woman who bakes pies.
• The MVP for such an app could take a few days to build.

Sometimes we just need an AI grandma to give us old school, warm, blunt, and human advice.

The "AI Grandma" concept taps into the desire for comfort and relatable advice, positioning AI as a source of emotional support and wisdom.

Credit Score Repair: A High-Demand Niche [14:57]

• The credit repair industry is described as scammy and difficult to navigate.
• Many people struggle with low credit scores and seek solutions.
• An app that detects credit score issues and provides guidance or services could be highly valuable.
• Key features would include connecting to credit bureaus (Equifax, Experian), interactive UIs, dispute templates, and score simulation.
• Monetization could be through referral fees or direct charges.
• A strong domain name is crucial for success in this niche, potentially requiring a significant investment.

I think there's tons of people who are asking how do I fix my credit score? You can actually go and check that keyword volume. It's worth so much money.

The credit score repair domain is identified as a high-demand area with significant unmet needs, presenting a prime opportunity for an AI-powered solution.

Domain Names and Future of AI Apps [17:18]

• The value of .com domains is compared to newer domains like .ai, with .com being more established.
• The idea of purchasing a domain like RepairMyCreditScore.ai and gifting it to a community member to inspire app building is discussed.
• This initiative aims to encourage people to actively build applications in the AI space.

SEO um.com is like your is Manhattan, you know, uh.ai is like your it's it's Williamsburg, you know, it's still cool, but Manhattan is Manhattan.

The conversation touches upon the importance of domain names in establishing online presence and brand recognition, particularly in the context of emerging AI-focused businesses.