Intuit announced Tuesday that it has struck a multiyear deal with OpenAI that will bring together Intuit’s lineup of financial apps—TurboTax, Credit Karma, Mailchimp, and QuickBooks—with ChatGPT to deliver personalized and actionable financial insights and recommendations.
Intuit will pay ChatGPT maker OpenAI more than $100 million annually to implement its artificial intelligence models across its products. Through the partnership, Intuit’s products will also become accessible directly through ChatGPT.
For example, if a person types the following prompt into ChatGPT, “We just got married and bought a house. Our total income for the year is around $175k. What’s our refund going to be?” the chatbot will reply with “Intuit TurboTax is updating your tax situation, is identifying relevant deductions and credits, estimating your 2025 tax refund,” then shows the user their refund amount and lists additional tax-saving moves, like “filing jointly, not separately” and “mortgage interest and property taxes,” according to a video about the partnership.
“We are taking a massive step forward to fuel financial success for consumers and businesses, unlocking growth for both companies,” Intuit CEO Sasan Goodarzi said in a statement on Nov. 18. “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.”
For consumers, Intuit’s platform will help deliver personalized financial actions, with their permission, through apps available in ChatGPT to help them make smarter money decisions, the Mountain View, CA-based accounting and tax software giant said. This includes finding the credit card, personal loan, or mortgage that is best for their specific needs given their spending patterns and approval odds, getting more personalized answers to tax questions powered by their financial data, estimating their tax refund, scheduling time with a live AI-powered local tax expert, and taking actions to make their money go even further.
For businesses, Intuit’s apps, which will be available in ChatGPT, will provide personalized insights to help increase revenue and profitability based on their real-time business data. For instance, businesses can create and send targeted campaigns to drive customer growth, get paid faster with the help of AI-generated invoice reminders, and improve cashflow by accessing loan options tailored for their business when needed, while their accounting is done in the background, Intuit said.
“By providing these revolutionary experiences directly through the Intuit apps in ChatGPT, Intuit will be able to not only deepen its relationship with its existing approximately 100 million customers but also extend its reach to new audiences by engaging them and helping solve their problems at a point of need,” the company said in a media release on Tuesday.
OpenAI’s new partnership with Intuit is just the latest third-party integration for ChatGPT. In late September, OpenAI took what it called “first steps toward agentic commerce” with integrations for Shopify and Etsy, and went on to ink a deal with PayPal last month.
OpenAI also recently introduced a developer kit that would open its hit chatbot platform to third-party apps—a major shift for the chatbot that stands to remake the way that its 700 million-plus weekly users find and do things online. ChatGPT’s first wave of apps included Zillow, Spotify, Canva, and Expedia, with apps from DoorDash, Peloton, Uber, and Target in the works.
OpenAI’s recent moves point to the company’s vision of ChatGPT as an all-encompassing hub of utility that gives internet users little reason to go elsewhere. Those decisions coincide with OpenAI’s seismic shift away from its complex nonprofit roots into a more traditional for-profit company, although it technically will remain under the wing of a nonprofit.
“We want to be able to operate and get resources in such a way that we can make our services broadly available to all of humanity, which currently requires hundreds of billions of dollars and may eventually require trillions of dollars,” OpenAI CEO Sam Altman wrote in a letter about the decision to change the company’s structure. “We believe this is the best way for us to fulfill our mission and to get people to create massive benefits for each other with these new tools.”
Tribune News Services contributed to this article.
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