Former Twitter (now X) CEO Parag Agrawal returns to the tech industry, founding a startup dedicated to helping AI agents automatically collect and analyze web information.
Agrawal stated on LinkedIn that his new company Parallel Web Systems Inc.'s first product, Deep Research API, outperformed humans and leading AI models, including OpenAI's GPT-5, on certain research benchmarks.
Agrawal said, 'We are already supporting millions of research tasks daily,' adding that 'one company has started automating human workflows with Parallel, using agents to find documents and debug issues.' He raised $30 million for the company and leads a team of 25 people.
After Elon Musk took over Twitter and renamed it X, Agrawal and other executives were fired. They later sued Musk, claiming they were deprived of $128 million in severance pay.
Agrawal and the Future of AI
During his tenure as Twitter's CTO, Agrawal built machine learning models. He led Twitter from 2021 until October 2022.
After being fired, Agrawal returned to AI research, rejecting offers from several tech companies to 'clean up the mess,' as he firmly believes AI is the future.
AI agents will dominate the internet
His initial AI idea was a healthcare AI startup, but he quickly realized that AI agents would be the largest users on the internet.
Agrawal believes that 'in the future, there will be more agents online than humans, and you might deploy 50 agents to help you browse the internet.'
AI agents will become the next big trend in Ethereum
Agrawal's bet on AI agents also aligns with predictions from Coinbase developers, who believe autonomous AI agents will become the 'largest users' in Ethereum.
AI agents can execute stablecoin transfers without human intervention, supporting applications ranging from paying for fuel for self-driving taxis to AI models monetizing content on demand.
