Intuit Inc. (NASDAQ:INTU) traded sharply higher in pre-market dealings on Tuesday, climbing about 6% after unveiling a new multi-year partnership with OpenAI aimed at building a suite of financial intelligence applications inside ChatGPT.
Under the agreement, ChatGPT users will be able to take real financial actions using Intuit-powered tools embedded directly in the interface. These apps will tap into users’ financial information and behavioral patterns to deliver customized insights and recommendations.
“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.
For individuals, the new capabilities will include personalized help choosing credit cards, loans, or mortgages based on spending habits and likelihood of approval. Users will also be able to get tailored tax guidance, estimate their tax refunds, and even schedule time with AI-driven tax specialists.
Businesses, meanwhile, will gain access to real-time analytics aimed at boosting revenue and profitability, designing targeted marketing campaigns, optimizing cash flow, and finding lending options suited to their operational needs.
Fidji Simo, CEO of Applications at OpenAI, stated, “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.”