Intuit Inc. recently disclosed its collaboration with OpenAI. The international fintech firm responsible for household names like TurboTax, Credit Karma, QuickBooks, and Mailchimp. This collaboration aims to expedite the development of generative AI (GenAI) applications on its exclusive Intuit Generative AI Operating System (GenOS) in pursuit of its goal to foster financial prosperity for its vast user base of over 100 million consumers and small businesses worldwide.
As the lifeblood of many small businesses, Intuit’s financial Large Language Models (LLMs) are unique. They are tailored with company data to solve various financial hurdles ranging from tax and accounting issues to marketing, cash flow, and personal finance challenges. These financial LLMs skillfully leverage Intuit’s platform’s resources, rich data, and knowledge set to devise highly personalized experiences, guiding consumers and small businesses toward financial prosperity.
By infusing OpenAI’s market-leading GPT 3.5 and 4.0 into the GenOS, Intuit empowers its developers to quickly construct secure, intelligent, GenAI-powered experiences across its comprehensive fintech portfolio, all with impressive speed and scale.
Marianna Tessel, Chief Technology Officer at Intuit, expressed her enthusiasm about the collaboration, “Intuit is creating breakthrough product experiences on Intuit GenOS and we are excited to be working with OpenAI using their industry-leading large language models to accelerate our innovation. We’re harnessing the power of generative AI to power prosperity for more than 100 million customers worldwide by transforming how people manage their finances with full confidence.”
Brad Lightcap, COO at OpenAI, reciprocated this sentiment, stating, “Intuit understands the potential of generative AI technology and shares our commitment to advancing next-generation AI development safely and responsibly.”
Intuit’s dedication to driving AI innovation spans over a decade, with its extensive data and AI capabilities forming the foundation of its success in the fintech industry. With detailed data on 400,000 customer and financial attributes per small business and 55,000 tax and financial attributes per consumer, and connections with over 24,000 financial institutions, Intuit is well-equipped to offer comprehensive AI-powered solutions. The firm facilitates over 730 million AI-driven customer interactions annually, generating 58 billion machine-learning predictions daily.
The introduction and integration of GenAI are altering how humans engage with computers. Intuit is well-positioned to spearhead this revolutionary wave courtesy of its extensive data platform, established AI foundation, commitment to data stewardship, and the launch of its proprietary Intuit GenOS. The company’s AI-driven expert platform is already creating significant waves in the industry and fueling financial prosperity for its customers.
Small Business Deals
For small businesses that heavily rely on fintech for their financial management, this innovative alliance between Intuit and OpenAI presents a promising outlook, with the prospect of highly customized, intelligent, and secure financial management experiences on the horizon.