The collaboration, announced Tuesday (Nov. 18), will let users of OpenAI’s ChatGPT take “trusted, secure, and accurate financial actions” through Intuit’s various apps, which can be accessed within the chatbot.
According to an Intuit news release, this marks the first time consumers and businesses will be able to employ Intuit’s AI-driven expert platform and get personalized financial insights and recommendations, all through apps available in ChatGPT.
“Every week, hundreds of millions of consumers and businesses search on ChatGPT for answers to their biggest problems,” the release said, citing questions such as “how can I pay off my debt faster or improve my credit score?” and “how do I increase the profitability of my business or find new customers?”
With the knowledge of their financial data and behaviors powered by Intuit’s capabilities, users will get more insightful, more specific and more actionable responses via the Intuit apps in ChatGPT, the companies added.
“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. “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.”
“Intuit’s AI-powered financial platform helps millions of people manage their finances and run their businesses,” added 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.”
PYMNTS has written extensively on the increasing role AI plays in the world as finance. As covered here last month, that means using artificial intelligence not just “as a speculative experiment, but as a pragmatic tool to address acute vulnerabilities.”
Examples of this can be found in the recent partnership between Anthropic and Deloitte to build AI compliance solutions, as well as the news that Ramp was adding new AI agents to Bill Pay, its accounts payable automation platform.
“The pattern emerging across industries is striking,” PYMNTS wrote. “Finance leaders are moving quickly to deploy AI where the business case is immediate and measurable, particularly in fraud detection, payments reconciliation and compliance.”
However, these same leaders are moving forward deliberately, even conservatively, in terms of applying AI across broader finance functions like forecasting, capital allocation or strategic planning, the report added.
Source: https://www.pymnts.com/