AI Boosts US Business Formation by 45% Since ChatGPT Launch
The number of AI-related businesses in the US has surged 45% since ChatGPT launched in November 2022, outpacing other sectors and driving a 20% overall increase in new business formations.
The rapid adoption of artificial intelligence is fueling a surge in US business formation, according to data highlighted by The Kobeissi Letter.
Since the launch of ChatGPT in November 2022, the number of businesses in AI-related sectors—such as professional, scientific, and technical services—has grown by 45%. In comparison, construction businesses increased by just 10% over the same period.
The broader US economy has seen a 20% rise in business creation. The Census Bureau now projects 29,700 new businesses will form monthly nationwide over the next year, up 17% year-over-year. Professional services alone are expected to account for more than 5,000 new businesses per month, a record for the sector and a 24% increase year-over-year.
Analysts suggest that AI is driving a new wave of entrepreneurship, with the data underscoring its outsized impact on the economic landscape.
Source: The Kobeissi Letter