Financial software company Intuit has signed a nine-figure deal with OpenAI that will allow clients to use its various services within ChatGPT. Intuit’s apps include Intuit Turbo Tax, Credit Karma, QuickBooks, and Mailchimp, all of which will now be accessible when using OpenAI’s chatbot for personalized financial advice and management.
The partnership is operated by Intuit on behalf of the “hundreds of millions of consumers and businesses” who ask ChatGPT finance-related questions every week. Consumers will be able to use Intuit’s apps within ChatGPT to research credit cards and mortgages, with advice tailored to their spending. They can also allow the chatbot to access their financial data to estimate their tax refund amount and schedule appointments with a “live, AI-powered tax expert.”
On the business side, companies can use ChatGPT to get advice on how to increase their revenues based on their current performance. They can also create targeted campaigns to send to potential customers and use AI to generate invoice reminders.
Intuit has been investing heavily in AI for the last 10 years, will introduce its own back in 2023 and incorporate it into its products. Its $100 million contract with OpenAI will also help it broaden the use of the latter models and their agentic capabilities on its platform. Generative AI allows Intuit customers to complete their financial tasks and ask questions about complex topics using natural language prompts.
OpenAI appears determined to enhance its reputation as a trusted source of finance-related guidance and information. Last month it was a personal investing app called ROI, which uses a built-in chatbot to advise users on potential investments.