Perspective

In 2026, consumer AI is going deep. We estimate consumer AI spend has reached $40 billion, more than triple what we measured a year ago. Most of that growth did not come from new users, as overall adoption rose just three points, from 61% to 64% of U.S. adults. Instead, growth came from existing users doing more with AI.

There is a lively discourse around AI’s impact on software right now—scenario analyses, moat taxonomies, bear cases for SaaS broadly. The more important question for founders is not whether AI disrupts vertical software, but what it takes to build something lasting in this specific moment.

For all the fears of over-investment, AI is spreading across enterprises at a pace with no precedent in modern software history. Our data indicates companies spent $37 billion on generative AI in 2025, a 3.2x year-over-year increase.

Long dismissed as a digital laggard that trailed years behind every major innovation wave, healthcare has flipped the script. The $4.9T industry is now deploying AI at 2.2x the rate of the broader economy.