AC Strategy for Energy Efficiency
Setting your AC to a higher temperature will at the very least use no more electricity than setting it to a lower temperature. In most cases, it will use less electricity, and how much less depends on how much higher you set it.

In your situation with the inside temp at 80, if the outside temp is 77 and you set the AC to 77, it will run to cool the house from 80 to 77. At that point, it may or may not run, depending on how fast the inside of your house warms up. Temperature, insulation, wind, and other factors determine how quickly your house loses its conditioned air, and therefore how often the AC needs to run to maintain the set point.

If you instead set the AC to 80, it will only run if the inside temp gets above 80. With an outside temperature of 77, that really can't happen (yes, there can be some heat released from the roof and other structure, but that heat will be there regardless of what you set the AC to).

Note that none of this takes into consideration your comfort. 77 and humid may be much less comfortable than 80 and dry.