1. Data & Insights

ChatGPT dominates commercial AI spending

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Payments to 16 major consumer AI Tools grew 570% YoY in August according to Earnest credit card data (access chart in Dash). ChatGPT quickly grew to become the market leader in 2023 after releasing its free tool earlier in the year, with over 73% of consumer AI sales share. ChatGPT’s growth displaced the previous leading consumer platform Jasper AI. 

ChatGPT’s $20 average ticket is on the lower end of AI Tools, possibly contributing to its success in converting freemium users into paid clients. Jasper AI, on the other hand, has one of the highest average monthly tickets, averaging $108 in August. 

RunwayML, which commanded less than 1.5% of the commercial AI market in August, was also the fastest growing platform, +1700% YoY in the same month.

The post ChatGPT dominates commercial AI spending appeared first on Earnest Analytics.

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