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

New Vertice data shows share of spend for AI software increased 500% in 3 months

An increasing number of businesses are now subscribing to artificial intelligence software and these tools now account for 1% of total software spend – an increase of 500%.

The number of companies Only 10% of companies subscribed to an using AI software more than AI tool at the start of the year, compared doubled in three months. to 33% as of April 2023. https://www.vertice.one/inside-saas/ai- software-spend

Companies are already adding around 18% Every new tool that is added is, more tools every year to their software however, an additional tool that portfolios. This could increase even further as should be monitored and a result of this now booming generative AI negotiated upon renewal. market.

As SaaS prices rise at a rate that is four times higher than market inflation alone can account for, it's key that companies have complete visibility of their software.

Especially given that the average company now uses 110 software tools, according to data from Statista.

Find out how much Vertice can save you on SaaS at https://www.vertice.one