See how much companies are spending on AI

ChatGPT has ushered in a new era in AI. Our latest report shows macro spending trends and how businesses are experimenting with new technology to drive top-line growth.
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2023 Q1 Spending Benchmarks

Summary

What you'll learn

Dive into where SMBs and mid-market companies are investing and where they’re cutting back, based on hundreds of thousands of transactions made by Ramp customers.

Key findings

01

In the wake of the SVB banking crisis, businesses decreased deposit exposure by adding new banks and diversifying funds. In late March, bank flows normalized but ongoing volatility has led to new spikes.

02

The number of businesses spending with AI vendors rose sharply in Q1, but the amount spent on those vendors grew more slowly, indicating businesses are still evaluating the technology.

03

Electronics spending increased for the first time in March after five straight months of decline, suggesting businesses are starting to staff up in-house.

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