Parag Agrawal, the previous CEO of Twitter, now known as X, has returned to the tech business with a startup, Parallel Internet Programs Inc., centered on serving to synthetic intelligence brokers autonomously acquire and analyze data from the online.
Agrawal stated in a LinkedIn publish on Friday that his startup’s first main product, known as Deep Analysis API, outperforms people and main AI fashions, together with OpenAI’s GPT-5, on some analysis benchmarks.
“We already energy hundreds of thousands of analysis duties day by day,” Agrawal stated, including {that a} public agency is already automating human workflows with Parallel and coding brokers are utilizing its instruments to seek out paperwork and debug points. Agrawal has raised $30 million in funding for Parallel and leads a 25-person workforce, Bloomberg reported on Thursday.
Parallel marks Agrawal’s first large transfer within the tech house since Elon Musk ousted him and different C-level executives after the Tesla boss took over Twitter in October 2022, finally altering the social media platform’s title to X.
The executives later sued Musk, claiming they had been denied round $128 million in severance pay after their contracts had been abruptly terminated. A district courtroom dominated to maneuver the case ahead in November, however a ultimate verdict hasn’t been reached.
Agrawal knew AI could be his subsequent enterprise
Agrawal constructed machine studying fashions at Twitter whereas serving as chief know-how officer below then-CEO Jack Dorsey. Agrawal then led Twitter from November 2021 till October 2022.
After being fired from Twitter, Agrawal informed Bloomberg that he dove again into AI analysis, studying papers and writing code once more. He stated he turned down a number of affords from struggling tech corporations on the lookout for him to “clear up shit,” realizing that AI was what he needed to deal with subsequent.
AI brokers, not people, will run the web, Agrawal says
Agrawal’s first AI concept was an AI-powered healthcare startup, however he realized that AI brokers, not people, would turn into the most important customers of the online.
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“There’ll be extra brokers on the web than there are people round. You’ll most likely deploy 50 brokers in your behalf to be on the web,” Agrawal informed Bloomberg. “I feel that’s going to occur quickly, like subsequent 12 months.”
AI brokers the subsequent large factor on Ethereum, Coinbase devs say
Agrawal’s guess on AI brokers additionally traces up with latest predictions from Coinbase builders, who final week described autonomous AI brokers as Ethereum’s future “greatest energy consumer.”
Coinbase’s Kevin Leffew and Lincoln Murr stated a little-used HTTP net customary, mixed with Ethereum Enchancment Proposal (EIP) 3009, may open a brand new period of e-commerce on the blockchain.
AI brokers may execute stablecoin transfers with out human involvement, enabling every thing from self-driving taxis that pay for his or her gas to AI fashions that monetize content material on demand, the pair stated.
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