Intuit Inc (NASDAQ:INTU, XETRA:ITU) has announced a multi-year strategic partnership with OpenAI that is worth more than $100 million per year, aimed at integrating advanced generative AI models across the company’s financial technology products.
The agreement will deepen Intuit’s use of OpenAI’s frontier models, including GPT-based systems, to develop new AI-driven features for platforms such as TurboTax, Credit Karma, QuickBooks, and Mailchimp.
According to Intuit, the initiative is designed to enhance the way more than 100 million consumers and small businesses manage their finances by delivering more personalized insights, recommendations, and actions through natural-language interactions.
Intuit plans to embed OpenAI technology into its proprietary generative AI operating system to support tasks such as tax preparation, cash-flow forecasting, credit decisioning, and marketing automation.
Intuit will also introduce new apps powered by its AI-driven expert platform directly within ChatGPT, allowing users to access tailored financial guidance and take certain actions inside the chat experience.
Intel said that this integration will help provide more specific, data-informed responses for common financial questions, ranging from managing debt to improving business profitability.
“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.
“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.”
Fidji Simo, CEO of Applications at OpenAI, added: “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.”
Intuit shares traded hands at $650 on Tuesday morning, up about 3.5% in the year to date.
