Stock Markets April 23, 2026 06:24 AM

AI Use Growing but Clustered in Tech and Finance, Wolfe Research Finds

Surveys diverge on scale of adoption as paid tool spending outpaces self-reported production use; hiring impact likely modest this year

By Caleb Monroe GOOGL
AI Use Growing but Clustered in Tech and Finance, Wolfe Research Finds
GOOGL

AI uptake across the U.S. economy is rising, but adoption remains concentrated in a small number of sectors, with securities and financial investment firms and technology services leading. Differences in survey methods produce widely different adoption rates: 19% report using AI in production in a Census Bureau survey, while real-time spending data show over 50% of firms paying for AI tools. Wolfe Research expects hiring to average about 70,000 jobs this year and does not see a broad wave of AI-driven layoffs in 2026.

Key Points

  • AI adoption is rising but remains heavily concentrated in a few sectors, led by technology services and securities/financial investments.
  • Different data sources show a gap: 19% of firms report using AI in production (Census Bureau) versus over 50% paying for AI tools (Ramp), reflecting methodological differences between self-reported production use and real-time vendor spending.
  • Paid adoption data show OpenAI as the market leader and Anthropic quickly growing into the number two position; Google is described as having a limited presence in that paid-adoption dataset.

Adoption of artificial intelligence tools is expanding across American businesses, but usage remains uneven and largely concentrated in a limited set of industries, according to data cited by Wolfe Research.

Two data sources referenced show markedly different pictures of how pervasive AI is. The U.S. Census Bureau Business Trends and Outlook Survey finds that 19% of firms report using AI in the production of goods and services. By contrast, Ramp, which measures real-time spending on AI vendors, reports that roughly half of firms are paying for AI tools.

The divergence reflects differences in measurement and scope. The Census Bureau questionnaire is a broad, self-reported snapshot of the U.S. business population that specifically asks about use of AI in producing goods and services. Ramp’s approach records actual vendor spending in real time, capturing paid subscriptions and other commercial engagements with AI providers - a methodology that tends to overrepresent more technology-forward companies.

Sector concentration is a clear theme in the findings. Usage rates are strongest in technology services, and securities and financial investments sit near the top of the list, second to tech. Beyond those areas the level of adoption declines sharply, with the majority of industries showing relatively limited deployment of AI in production.

Within the paid-adoption data Ramp collects, deployment has climbed quickly. OpenAI is identified as the leading provider, while Anthropic has grown rapidly over the past year to become the number two provider by adoption. Other firms such as Google are reported to have a more modest footprint in this dataset.

On labor market effects, Wolfe Research projects average hiring of about 70,000 jobs this year related to the trends under discussion. At the same time the firm does not anticipate a widespread, AI-driven wave of layoffs in 2026.


These data points point to an economy where AI momentum exists but is far from uniform, and where measurement choices materially affect the apparent scale of adoption.

Risks

  • Concentration risk - Heavy skew of AI use toward a small number of sectors such as tech services and financial investments could limit broader economic impact.
  • Measurement uncertainty - Different survey methods (self-reported production use versus vendor spending) produce divergent adoption rates, complicating assessments of how widely AI is actually deployed.
  • Labor-market uncertainty - While Wolfe Research forecasts average hiring of roughly 70,000 jobs this year, the timing and scale of any AI-driven layoffs remain uncertain and a broad wave is not expected in 2026.

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