AI may be fuelling U.S. business creation, but few signs of a similar trend in Canada
The adoption of artificial intelligence in Canada is lagging behind that of the United States, where AI is believed to be driving an increase in business creation. While the U.S. has seen a rise in business applications, Canada has not experienced a similar trend, raising concerns for its tech ecosystem. Experts suggest that while AI could facilitate business formation, it may also lead to greater centralization among larger companies.
- ▪AI is thought to simplify the process of starting a business, yet Canadian adoption remains low.
- ▪In the U.S., business applications surged by 21 percent following the release of ChatGPT, but the actual number of new businesses has decreased.
- ▪Statistics Canada reports that the average number of new business entrants in Canada has not significantly increased since the introduction of ChatGPT.
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Open this photo in gallery:Business adoption of artificial intelligence in Canada is still relatively low.Kiichiro Sato/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountArtificial intelligence is supposed to make everything easier, including starting a business. Chatbots can serve as advisers, while AI applications can speed up many core functions of a business. Tech start-ups can grow faster with fewer employees and less funding than in the past, too.It stands to reason, then, that AI should enable more people to start businesses. There are early signs of a trend in the United States, even if it’s not yet definitive. But in Canada? Not so much.
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