OpenAI regains ground against Anthropic in business sector
What's the story
OpenAI, the artificial intelligence (AI) powerhouse behind ChatGPT, is closing the gap with its competitor Anthropic in the US business sector. The revelation comes from Ramp, a corporate credit card and expense management company. Despite losing its lead to Anthropic in May with a 39% market share against Anthropic's 41%, OpenAI has been making strides. As of July, Anthropic held nearly 44% while OpenAI trailed closely at nearly 40%.
Market dynamics
OpenAI's growth trajectory
The data from Ramp, which covers over 70,000 American businesses using its bill pay and corporate card products, suggests that OpenAI is growing faster than Anthropic in Q3.
However, the trend could change by the end of the quarter.
It's worth noting that this data doesn't represent the entire market, as it excludes large enterprises using spend-management tools from providers like American Express instead of Ramp.
Growth trend
Overall AI market expansion
Despite the competition between OpenAI and Anthropic, Ramp's data indicates that both companies should be seeing an increase in business revenue. This is because the overall market for AI is growing.
The percentage of companies paying for AI among Ramp's customers has been steadily increasing, surpassing 50% in March and reaching nearly 56% by July.