Durable, an AI Website Building Startup, Secures $14 Million Funding to Empower Solopreneurs

New York AI Startup 1Fort Raises $7.5 Million to Modernize Commercial Insurance for Small Businesses

New York-based AI startup 1Fort announced a $7.5 million seed funding round to improve the process of small businesses obtaining commercial insurance through its AI-powered platform. The company, which saw 200% revenue growth in 2024, aims to automate cumbersome and outdated manual processes, helping millions of underserved small businesses address insurance gaps. The funding round was led by Bonfire Ventures, with participation from Draper Associates.

Why Are Large Enterprises Riding the Wave of AI While Small Businesses Lag Behind?

Recently, reports have indicated a surge in the adoption of artificial intelligence (AI) technology among small businesses. For instance, organizations like Verizon, Salesforce, and the Associated Press have all stated that many small businesses are utilizing AI to drive revenue growth and enhance competitiveness. However, as a small business owner, I must say that these claims are overly optimistic, and the reality is not so straightforward. Image source note: Image generated by AI, image licensed through service provider Midjourney. In fact, many small businesses are still hesitant to use AI.

A Quarter of Small Businesses in the U.S. Are Using AI to Boost Efficiency

98% of Small Businesses in the U.S. Have Started Using AI Tools for 'Super Performance'

Recently, a survey released by the U.S. Chamber of Commerce revealed that 98% of small businesses are now using at least one artificial intelligence (AI) technology platform, which is an exciting trend. The survey mentioned that 40% of small businesses are using generative AI tools, nearly doubling from last year. This indicates that small businesses are quickly adopting new technologies to stand out in the competition. Image source note: Image generated by AI, image licensed from Midjourney. Jordan Crenshaw, Senior Vice President of the Center for Technology Engagement at the U.S. Chamber of Commerce, stated: 'A

US Department of Commerce Proposes New Regulations Impacting AI Industry, Small Businesses Face Compliance Pressure!

Recently, the US Department of Commerce released a proposal requiring artificial intelligence (AI) companies to provide detailed reports, aimed at stricter regulation of this rapidly evolving technological field. The notice, titled 'Proposed Rules,' was published on September 9, with the intention of ensuring the safety, reliability of AI technology, and preventing potential misuse by foreign adversaries or non-state actors. Photo credit: Image generated by AI, image licensed from Midjourney. Secretary of Commerce Gina Raimondo stated at a press conference that the rapid development of AI...

AI Empowers Millions of Small Businesses: OffDeal Secures $4.7 Million Seed Round Financing

Small businesses play an indispensable role in the U.S. economy, employing nearly half of the workforce and contributing 44% of GDP. However, when owners of these economic pillars consider exiting, they often face a dilemma of limited choices. OffDeal, a startup nurtured by the Y Combinator Winter 2024 accelerator, is dedicated to solving this issue through innovative AI technology. OffDeal is co-founded by former investment banker Ori Eldarov and former Meta engineer Alston Lin.

U.S. Small Businesses Have a Positive Attitude Toward AI, Nearly Two-Thirds Want to Adopt More AI

83% of U.S. small businesses are already using AI. 65% of small businesses want to adopt more AI. Small businesses believe AI can improve productivity, reduce costs, and compete with large companies. 90% of small businesses have concerns about AI, with data privacy and lack of regulation being the main issues. 80% of small businesses worried about AI feel that it hinders their further use of AI.