Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT

Summary

Intuit has signed a multi-year contract worth more than $100 million with OpenAI, enabling its tax and financial apps to operate within ChatGPT and expanding the company’s use of OpenAI’s models across its products. Intuit said its tools, such as TurboTax, Credit Karma, QuickBooks and Mailchimp, will be accessible through ChatGPT, allowing users to ask questions and complete tasks such as estimating tax refunds, reviewing credit options, or managing business finances. With users’ permission, Intuit’s apps will be able to access their financial data to generate responses and complete tasks, like sending marketing messages or issuing invoice reminders. Customers will also be able to use the tools within ChatGPT to review credit cards, personal loans and mortgages. The agreement reflects a broader trend of technology and financial firms adopting large language models in consumer and business software. OpenAI in October introduced a way to let developers build apps accessible through ChatGPT. Early participants in the program included Booking.com, Expedia, Spotify and several other consumer and productivity platforms. But Intuit’s integration differs from existing ChatGPT apps, as it will be used for tasks that can directly influence financial decisions. Such uses have raised concerns about the reliability of AI systems, which can produce incorrect or misleading outputs. Intuit employs multiple validation methods and utilizes large domain-specific datasets to minimize the risk of errors or “hallucinated” responses, Bruce Chan, a spokesperson for Intuit, told TechCrunch. “When our AI provides an answer or gives guidance to a customer, it’s drawing on the deep expertise that Intuit has developed over many years, plus the data that gives us a 360-degree view of the customer,” Chan said. “This helps make sure the answer given is relevant and grounded in the customer’s own data, and reflects Intuit’s years of domain expertise.” Techcrunch event San Francisco | October 13-15,...