Corporate travel in the U.S. is at a turning point — managed corporate travel faces a temporary contraction, nearly 80% of business travel spending now occurs online, and AI is emerging as a game-changer for planning, compliance and back-office functions. But the control question is unresolved: 63% of business travelers book within managed programs, one in four companies has recently tightened policy, yet nearly 20% of bookings still fall outside policy — mainly for convenience, lower prices or loyalty perks. As agentic AI enters the picture, the tension between traveler autonomy and corporate oversight is only going to sharpen. Who sets the rules in a world where the booking agent might not be human?