According to the latest Ramp AI Index, AI adoption among U.S. companies may be hitting a plateau. Ramp, a fintech company, has been tracking AI-related spend across 30,000 firms through its payment and bill data. In May 2025, the index showed that AI adoption stabilized at 41%, following nearly 10 months of growth. Notably, the breakdown of AI adoption varies by business size: 49% of large enterprises have adopted AI, compared to 44% of mid-sized firms and 37% of small businesses. These findings indicate that while AI enthusiasm remains, the exponential growth seen in previous months may be waning.

Ramp’s report highlights that the index is based only on identified AI-related spend via merchant names and line-item data. As such, it may undercount businesses where AI services are categorized under other cost centers, suggesting actual adoption could be somewhat higher—or at least more complex to track. Nevertheless, it reflects a cooling-off period as businesses face practical hurdles in scaling AI effectively.

Interestingly, this leveling off comes at a time when more companies are reconsidering the cost-benefit equation of their AI pilots. Klarna, the Swedish fintech firm, recently had to rehire support agents it had previously displaced with AI, citing degraded service quality. According to S&P Global, the proportion of firms discontinuing generative AI pilots has jumped to 42%, up from 17% a year earlier. These signs collectively suggest a shift from hype to pragmatism. While AI remains a cornerstone of digital strategy, many firms are learning that realizing tangible ROI from AI involves more than automation hype—it requires integration, oversight, and iteration. As such, 2025 may become the year when corporate America begins to redefine its AI ambitions.