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Intuit Introduces LLMs for Fintech

The new operating system for generative artificial intelligence will feature AI large language models (LLMs) trained on Intuit’s financial data

Intuit Introduces LLMs for Fintech

Fintech giant Intuit expanded its software services platform with GenOS, a dedicated operating system for generative artificial intelligence (AI) technologies.

The company, whose product offerings include TurboTax, Mint, Credit Karma, Mailchimp and QuickBooks, says the new operating system will feature a suite of tools, including a developer studio, UX library, runtime layer and several pre-trained large language models (LLMs).

These custom-trained LLMs focus on financial service niche applications such as solving tax, accounting, marketing, cash flow, and personal finance challenges.

“Our vision is to become the financial assistant in our customers’ pockets that fuels their livelihoods and, in turn, creates a thriving economy,” said Sasan Goodarzi, president and CEO of Intuit. The company claims it is strategically partnering with world-class players in generative AI to unlock new opportunities for its customers.

However, the fintech chose to create proprietary tools and its own development and deployment platform instead of adapting third-party LLM solutions such as OpenAI’s ChatGPT for their specific needs.

Intuit connects with over 24,000 financial institutions, offering 400,000 customer and financial attributes per small business, as well as 55,000 tax and financial attributes per consumer.

The company has a robust data set, with over 730 million AI-driven customer interactions per year and 58 billion machine learning predictions per day. Based on this data, Intuit is delivering personalized AI-driven experiences to more than 100 million consumer and small business customers, according to the press release.

So far, the company hasn’t disclosed any specific information about the LLMs being developed through the new platform. Nevertheless, some of the primary use cases include providing “customers with relevant, personalized information and advice across our product portfolio.”

Similar efforts were previously done by Kasisto that introduced banking-specific LLM KAI-GPT.

In addition, Stability AI, the creator of a popular image-generation tool Stable Diffusion, announced the launch of StableLM, a suite of open-source large language models which could have interesting use cases for the cryptocurrency trading world. Its publicly available alpha version is trained on a new experimental dataset.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.