Intuit has signed a multi-year contract worth more than $100 million with OpenAI, enabling its tax and finance applications to run on ChatGPT and expanding the operate of OpenAI models in its products.
Intuit says its tools, including TurboTax, Credit Karma, QuickBooks and Mailchimp, will be available through ChatGPT, allowing users to ask questions and perform tasks such as estimating a tax refund, viewing credit options or managing company finances.
With users’ consent, Intuit apps will be able to access their financial data to generate responses and perform tasks such as sending marketing messages or sending invoice reminders. Customers will also be able to operate tools available within ChatGPT to review credit cards, personal loans and mortgages.
The deal reflects a broader trend of technology and financial companies adopting gigantic language models in consumer and business software. In October, OpenAI enabled developers to create applications accessible via ChatGPT. Early participants in the program included Booking.com, Expedia, Spotify and several other consumer and productivity platforms.
However, the Intuit integration is different from existing ChatGPT applications because it will be used for tasks that can directly impact financial decisions. Such applications have raised concerns about the reliability of AI systems, which can produce incorrect or misleading results.
Intuit employs multiple verification methods and uses domain-specific massive data to minimize the risk of errors or “hallucinatory” responses, Bruce Chan, an Intuit spokesman, told TechCrunch.
“When our AI responds to a customer or provides guidance, it draws on the deep expertise that Intuit has developed over many years, as well as data that gives us a 360-degree view of the customer,” Chan said. “This allows us to ensure that the answer we provide is accurate, based on customer data, and reflects Intuit’s many years of experience in this area.”
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Chan said Intuit continues to provide the accuracy guarantees offered by its products, including TurboTax, but did not elaborate when asked whether the company or customer would be exposed to errors resulting from recommendations or insights generated by artificial intelligence.
Intuit has been expanding its operate of artificial intelligence in recent years, aiming to leverage its extensive data infrastructure. In 2023, the company introduced Intuit Assist, an AI assistant that runs across all of its products.
The partnership also includes expanding Intuit’s operate of OpenAI models across its business. The company already uses AI models from OpenAI along with other open source commercial and cross-language models. Intuit says the partnership will give it access to fresh audiences through ChatGPT, adding another distribution channel for tiny business and consumer finance tools.
“This partnership will deepen Intuit’s use of pioneering OpenAI models, which will help curate AI agents on the Intuit platform,” Chan said.
The agreement also includes Intuit’s continued operate of ChatGPT Enterprise, which the company says it has implemented internally to support employee workflow.