"We are taking a massive step forward to fuel financial success for consumers and businesses, unlocking growth for both companies," said Sasan Goodarzi, CEO of Intuit, in a statement. "Our partnership combines the power of Intuit's proprietary financial data, credit models, and AI platform capabilities with OpenAI's scale and frontier models to give users the financial advantage they need to prosper."
Under the contract, Intuit will develop finance apps for OpenAI that will allow users to access personalized finance and business advice that draws on Intuit's own platform. A spokesperson, in an email, said they are still working through the specifics of the Intuit experience within ChatGPT, but the overall goal is to meet customers where they are, and considering ChatGPT has 800 million users, Intuit felt it made sense to deepen their relationship with OpenAI.
They are currently in the process of choosing which selective experiences they will include in ChatGPT to engage users, but the company envisioned people using them to gain insights into matters from "how can I pay off my debt faster or improve my credit score?" to "how do I increase the profitability of my business or find new customers?" Going beyond direct queries, the company also suggested that people would be able to use Intuit apps within ChatGPT to do things like find credit card, personal loan and mortgage recommendations based on specific needs and approval odds, get an estimate on their tax refund, or schedule time with a live local tax expert. For businesses, the apps could provide insights into improving revenue and profitability by drawing on their own real-time business data, such as by creating targeted campaigns or automating invoice reminders or accessing additional credit.
Whatever apps may be released, the spokesperson said that while they will offer certain insights and actions for select use cases across their products, the vast majority of functionality will be accessible only by going directly to Intuit's own platform. One will not be able to effectively use the full breadth of their solutions from ChatGPT. While the company does not intend for the apps to be a direct revenue generator, they do believe it can drive new customers by bringing them onto their full platform. The spokesperson said they are exploring experiences for both new and existing customers.
Intuit said that they intend to continue owning customer relationships and data despite ChatGPT functionality. The security and privacy remains managed by Intuit's own platform and will only selectively apply user data at their own request in order to access accurate responses "in ChatGPT when a user is logged into their Intuit account."
Beyond the apps, the $100 million contract will also allow Intuit to access OpenAI models to help power select AI agents across Intuit's platform to surface insights and complete tasks such as forecasting cash flow, preparing taxes, or managing payroll, all through natural conversation. This includes Intuit's continued use of ChatGPT Enterprise across the company (ChatGPT enterprise is already deployed internally), which is helping employees incorporate AI into daily workflows and further improve their productivity. The spokesperson said Intuit will leverage OpenAI's models for various uses across the business.
"Intuit's AI-powered financial platform helps millions of people manage their finances and run their businesses," said Fidji Simo, CEO of applications at OpenAI. "This partnership combines our most advanced models and global scale with Intuit's platform capabilities to help everyone make smarter financial decisions and build more secure futures."
Asked about the possibility of the AIs making stuff up (aka hallucinating), the spokesperson noted that Intuit draws on its very large dataset to ensure their models give accurate, appropriate answers that are relevant to the specific customer. Meanwhile, the spokesperson added that Intuit stands behind the accuracy of TurboTax calculations and has
