AI Fuels 45% Surge in New US Business Formations Since Launch of ChatGPT: Report

By Daily Hodl Staff

Artificial intelligence is driving explosive growth in American entrepreneurship, according to a new report.

Data from the U.S. Census Bureau shows business formations in professional, scientific and technical services have surged about 45% since the launch of ChatGPT, reports Bloomberg.

Meanwhile, the number of construction businesses has increased by only about 10% over the same period.

Source: Bloomberg

Georgia Tech grad Alberto Flores, who is building an AI-powered law firm in Mexico, says he believes fears over AI-related job losses are getting people to move.

“AI is increasing pressure to get ahead. I see that a lot of people feel like, ‘AI is going to come for my job, so I have to do something.’”

The US Census Bureau now expects 29,700 new businesses to form each month for a year straight, based on paperwork filed with the IRS.

That number is 17% higher than projections from one year.

Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney