What’s up side hustlers, Jamasen here, CEO of LoopGenius and author of Beyond9to5 (formerly LoopGenius weekly). Every week we’ll cover one major tactic to grow your business, the latest news in AI, and awesome tools and resources.

In today’s edition

• One Tactic: A simple way to better prompting

• The Latest in AI: Can regulation keep up with AI?

Prompt Engineering: The Latest AI Side Hustle to Emerge in Tech

Picture yourself in the middle of an average day at your 9-to-5 job. You’re gazing out the window, daydreaming about a side hustle that not only complements your skills and sparks your curiosity, but also offers substantial supplementary income. You're not alone—almost half of all Americans are now benefiting from an additional income stream.

The well-worn paths of Etsy stores and freelance design work cross your mind, but you crave something fresher, less crowded, more cutting edge. Your thirst for the new and exciting leads you to a booming industry within the tech universe: prompt engineering. This relatively unexplored field, drawing tech enthusiasts and AI aficionados alike, could be your golden ticket to a promising second income.

You might wonder, "What exactly is prompt engineering?" Allow me to introduce you to this exciting new frontier in the landscape of AI.

In the bustling cosmos of tech, AI is a shining star. Companies worldwide are rushing to harness its incredible power, and in their quest, they require expert guidance—enter the prompt engineer.

Consider a prompt engineer as the conductor of an AI symphony orchestra, with AI language models like ChatGPT forming the ensemble. Just as a conductor coaxes the best performance from each musician, a prompt engineer refines and adjusts the instructions given to the AI, orchestrating a symphony of outputs that are more nuanced, effective, and in harmony with the user's intent.

Here's a more concrete scenario: let's say you're a ship captain sailing through the vast seas of the AI world, with ChatGPT as your first mate. Your destination is a compelling blog post about prompt engineering. However, your journey's success depends heavily on the instructions you give.

You could start by giving your AI first mate a vague command, like

“Write a blog post about prompt engineering.” 

This instruction, however, is akin to telling your crew, "Let's sail east," without specifying a destination or path. The resulting output could be a meandering, overly technical deep-dive, a cursory overview, or a simple summary—neither of which may align with your actual intention.

But, as a prompt engineer, you can be far more precise. You could instead command:

“Craft a 500-word compelling article about prompt engineering, complete with an engaging introduction, an in-depth overview, and insights into the necessary skills for the job.” 

By providing a more detailed map and specific treasure coordinates, you’re guiding the AI to meet your exact requirements, leading to a treasure trove of a blog post that's concise, engaging, comprehensive, and aligns closely with your vision.

"But I can't even code a hello world program!" you might think. Here's the exciting part: you don't need to be a coding wizard to excel as a prompt engineer. In fact, copywriters, with their expertise in crafting compelling language, might find themselves spearheading this booming field.

So, how does one set sail on this AI voyage and become a prompt engineer? Start by plunging into the ocean of information available in resources like OpenAI's Cookbook and AI-focused Reddit communities like r/MachineLearning and r/LearnMachineLearning. Study successful prompts, experiment with crafting your own, learn from your missteps, and continuously refine your approach. If you prefer a more structured learning path, platforms like Coursera and Udemy offer AI-focused courses that could be beneficial.

In terms of potential earnings, prompt engineering promises impressive returns. While full-time roles offer salaries in the range of $150K-$300K+, as a side hustle, you could realistically expect to earn $40-$80 per hour, based on your expertise and market demand.

However, like any endeavor, your success hinges on how well you market your skills. Connecting with AI thought-leaders on LinkedIn, sharing your journey as a prompt engineer on platforms like Medium or your personal blog, and building anticipation for your services—perhaps through a waitlist—can amplify your reach and attract potential clients. Tools like LoopGenius can further supercharge your marketing efforts, pinpointing your target audience, automating your content creation, and even creating a landing page for your prompt engineering services in a jiffy.

So why wait? Unleash your potential and stake your claim in the AI gold rush.

What’s News

AI Regulation Dilemma: The increasing potential of AI has led to calls for regulation, with figures like OpenAI CEO Sam Altman warning of significant harm if unchecked. However, lawmakers face challenges defining and managing AI's nebulous and evolving nature. Critics fear regulation might stifle innovation or consolidate power within tech giants. Some, like IBM, suggest 'precision regulation', focusing on specific AI uses rather than the technology itself. The process is complex and it's too early to predict outcomes. Read More

Side Hustles Enhance Full-Time Work Performance: Research indicates that side hustles, or secondary jobs, can actually boost employees' productivity in their full-time roles. The enrichment and empowerment derived from side gigs often translate into improved performance at work, benefiting both the individual and their employer. However, balance remains key to avoid distractions. Read more

Gen Z Thrives with Side Hustles: 72% of Gen Z engages in side hustles, boosting their earnings and skill sets. This trend reflects the generation's preference for job flexibility, financial security, and non-traditional career paths. While some employers worry about distractions, many recognize the potential benefits side hustles can bring to the main job. Watch more

Detecting AI-Generated Content: With AI's increasing ability to create realistic text, images, and videos, a new industry has emerged. Companies like Optic are developing tools to identify AI-generated content, tackling issues of misinformation and privacy. Read more

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That's it for this week's edition of Beyond9to5. Stay tuned for more tips, news, and spotlights in our next issue. Until then, keep hustling!