The latest trends in AI spending

Businesses are racing to test new AI and finance tools to stay competitive. See what they're using—and how much they're spending.
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2024 Q1 Business Spending Benchmarks

Summary

What you'll learn

See what companies are spending on by organization size, sector, and vendor. Data come from tens of billions in corporate card spend and AP payments managed through Ramp each year.

Key findings

01

AI usage is making the leap from experimental to operational. AI-related spend increased by 293% YoY. For comparison, overall software spend only increased by 6% in the same period.

02

Several finance tools were among the fastest-growing vendors on Ramp in Q1 by customer count, suggesting that companies are increasingly scrutinizing their finance operations and compliance.

03

Spend with airlines rose dramatically in Q1, even as overall travel budgets stayed steady. Despite inflationary headwinds, businesses are making it a point to meet in person, with an increase in international trips.

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