Description
The Ramp AI Index serves as a crucial resource for understanding the landscape of artificial intelligence adoption among American businesses. By leveraging transaction data from more than 70,000 firms, the index provides a monthly measurement of AI adoption rates and spending patterns. This data is sourced from Ramp's corporate card and bill pay platform, which captures billions of dollars in corporate spend.
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Unlike traditional surveys that may underreport AI adoption due to unclear questions or the rapid rise of new technologies, the Ramp AI Index utilizes actual transaction data to deliver a more accurate and timely measurement. Firms are classified as having adopted AI tools if they have recorded a positive transaction amount for an AI product or service within a given month. This methodology allows for a clearer picture of how businesses are integrating AI into their operations.
The index also categorizes firms by industry sectors and business sizes, employing internal models that predict these classifications based on the NAICS standard and third-party data regarding revenue and employee counts. However, it is important to note that the results may still underestimate actual adoption rates, as many businesses utilize free AI tools that do not involve paid transactions, or employees may use personal accounts for work-related tasks.
The Ramp AI Index builds upon previous research by Bonney et al. (2024), offering a new dataset that enhances the understanding of firm-level AI adoption and spending. This index is not only valuable for businesses looking to benchmark their AI usage but also for researchers and policymakers interested in the broader implications of AI technology in the economy.
- CategoryBusiness Intelligence
Highlights
Monthly measurement
Data from 70,000+ firms
Transaction-based methodology
Industry sector classification
Business size segmentation
Timely and accurate data
Focus on paid AI tools
Built on previous research
Use It For
- Benchmarking AI usage
- Market research
- Investment decisions
- Policy development
- Business strategy
