Risk: Moderate

Starting an AR Filter & Lens Creator as a side hustle can be risky for beginners with limited funds. The main potential losses include money invested in software tools and courses, time spent learning and creating filters, energy devoted to marketing efforts, and confidence if the venture doesn't yield returns. Some beginners may spend money on software subscriptions and courses without generating significant income. There are startup costs for software tools and advertising that might not pay off if the filters don't gain traction. Online discussions mention instances of beginners failing to make a profit with this business. I'd rate the risk a 3 out of 5 because there is a moderate risk of incurring losses in terms of both money and time, especially for those new to the industry.