AI Adoption Slows Among Top Firms According to Ramp Spending Data
Spending on AI tools among businesses slowed in August, according to data from payments company Ramp collected across 70,000 companies. Only 56% of Ramp customers paid for AI products that month, a minimal increase of just 0.4% compared to the previous month. This slowdown is not new; similar patterns were observed between August and October last year before growth resumed later in the year. The data highlights a nearly 10% drop in average AI spend per employee among the top 1% of Ramp’s customers, falling to $7,205. While this could be attributed to summer vacations or reduced token costs due to price cuts by OpenAI and Anthropic, it may also signal broader adoption concerns for companies reliant on revenue from AI usage. Ramp economist Ara Kharazian notes that slower adoption of newer models in favor of older, cheaper alternatives like ChatGPT 5.6-Terra could impact the financial dynamics at frontier labs. The data suggests competition is making AI more accessible and reducing costs but may be slowing growth among high-spending firms.
Topics: Artificial Intelligence Business Spending Tech Industry Data