Intuit will pay OpenAI $100 million in a deal to integrate TurboTax and ChatGPT

Intuit, a provider of tax software, revealed on Tuesday that it will pay OpenAI over $100 million a year to integrate its financial apps with ChatGPT. This is the most recent agreement in recent months to integrate popular apps with the chatbot.

According to a statement from the firms, Intuit’s multi-year relationship with OpenAI enables the models developed by the ChatGPT creator to power AI agents on Intuit platforms, such as TurboTax, Credit Karma, and Mailchimp, which will be available through ChatGPT.

According to the organizations, ChatGPT users will be able to ask questions and do activities including managing their business finances, analyzing credit choices, and predicting tax refunds. Additionally, financial data will be accessible to Intuit programs so they can generate responses and perform duties like delivering marketing messages.

Additionally included by the agreement is Intuit’s usage of ChatGPT, which it claims is used to improve staff processes.

At the beginning of trading on Tuesday, Intuit’s shares increased more than 2% to $660, increasing the company’s market valuation by around $4 billion.