New Vertice research shows that share of spend for AI software increased 500% in just three months

NewVerticedatashowsshareofspendforAI softwareincreased500%in3months

Anincreasingnumberofbusinessesarenow subscribingtoartificialintelligencesoftwareandthese toolsnowaccountfor1%oftotalsoftwarespend–an increaseof500%.

Thenumberofcompanies usingAIsoftwaremorethan doubledinthreemonths.

Only10%ofcompaniessubscribedtoan AItoolatthestartoftheyear,compared to33%asofApril2023.

https://www.vertice.one/inside-saas/aisoftware-spend

Companiesarealreadyaddingaround18% moretoolseveryyeartotheirsoftware portfolios.Thiscouldincreaseevenfurtheras aresultofthisnowboominggenerativeAI market.

Everynewtoolthatisaddedis, however,anadditionaltoolthat shouldbemonitoredand negotiateduponrenewal.

AsSaaSpricesriseatarate thatisfourtimeshigherthan marketinflationalonecan accountfor,it'skeythat companieshavecomplete visibilityoftheirsoftware.

Especiallygiventhattheaverage companynowuses110software tools,accordingtodatafromStatista.