Intuit has entered into a multi-year agreement valued at over $100 million with OpenAI, allowing its tax and finance applications to function within ChatGPT and broadening the integration of OpenAI’s models throughout Intuit’s suite of products.
According to Intuit, services like TurboTax, Credit Karma, QuickBooks, and Mailchimp will now be available via ChatGPT. This will enable users to ask questions and perform actions such as calculating tax returns, exploring credit opportunities, or handling business accounts.
With user consent, Intuit’s applications will be able to utilize financial information to craft responses and carry out activities, such as dispatching marketing emails or sending invoice notifications. Customers can also use ChatGPT to check out credit cards, personal loans, and mortgage options through these tools.
This collaboration highlights a growing movement among tech and financial companies to incorporate large language models into both consumer and enterprise software. In October, OpenAI launched a feature for developers to create apps accessible through ChatGPT. Early adopters included Booking.com, Expedia, Spotify, and various other platforms focused on productivity and consumer services.
However, Intuit’s approach stands apart from other ChatGPT integrations, as it is designed for tasks that may have a direct impact on financial choices. This has sparked concerns regarding the dependability of AI, which can sometimes generate inaccurate or misleading information.
Bruce Chan, an Intuit spokesperson, told TechCrunch that the company applies several validation techniques and leverages extensive, specialized datasets to reduce the likelihood of mistakes or fabricated answers.
“When our AI responds or offers advice to a customer, it relies on Intuit’s extensive experience built over many years, as well as comprehensive customer data,” Chan explained. “This ensures that the guidance provided is both relevant to the user’s situation and grounded in our deep domain knowledge.”
Chan emphasized that Intuit continues to uphold the accuracy guarantees associated with its products, including TurboTax, but did not specify whether the company or the customer would be responsible if errors arise from AI-generated suggestions or analyses.
In recent years, Intuit has increased its investment in AI, aiming to leverage its vast data resources. In 2023, the company launched Intuit Assist, an AI-powered assistant that operates across its product lineup.
The collaboration also means Intuit will further integrate OpenAI’s models into its operations. The company already employs OpenAI’s AI models alongside other commercial and open-source large language models. Intuit stated that this partnership will help it reach new users through ChatGPT, providing an additional channel for distributing its financial tools for individuals and small businesses.
“This collaboration will further deepen Intuit’s adoption of OpenAI’s advanced models, powering select AI-driven agents throughout Intuit’s platform,” Chan stated.
The agreement also includes Intuit’s ongoing use of ChatGPT Enterprise, which the company reports is used internally to enhance employee productivity.
