OpenAI has launched a beta version of a new personal finance feature within its ChatGPT platform. Starting today, Pro subscribers in the US can link their financial accounts to the platform to receive more personalized and accurate financial advice from their smart companion.
According to OpenAI, more than 200 million users already turn to ChatGPT monthly for guidance on managing their finances. By building a system that allows these users to link their accounts to the company’s servers, the chatbot will move beyond providing general, theoretical advice to offering practical solutions and steps that directly contribute to improving their financial lives.
This move is made possible through a strategic partnership between OpenAI and Plaid, a leading platform that provides secure connections with over 12,000 financial institutions, including major banks, as well as financial services and investment apps.
How does the new feature work?
To begin using this feature, users can go to the new “Finances” section in the ChatGPT sidebar, or simply type a command like: @Finances, connect my accounts.
The bot will then guide the user step-by-step through importing their financial data via the Plaid platform. Once the connection is complete, ChatGPT will begin building a visual and interactive dashboard displaying the user’s financial position, a process that may take a few minutes. From there, the user can choose from pre-defined and suggested questions or type their own questions and inquiries about their budget.
Privacy Concerns
It’s perfectly natural for some users to feel hesitant or concerned about sharing their sensitive banking information with a chatbot; this is something OpenAI has tried to address by placing strict limits on what the AI can see.
The company confirmed that ChatGPT has “read-only” permissions through the Plaid system, meaning it can only view current balances, transactions, withdrawals, deposits, investments, and financial obligations (debts).
Conversely, the bot will not be able to see full account numbers, nor will it have the authority to make any modifications, withdrawals, or transfers of funds through this system.
Furthermore, the company explained that users can disconnect their bank accounts from the application at any time. Any “memories” the bot saves about the user’s financial status can be reviewed or deleted directly from the finance section. The application will not be able to access this data when using the “temporary conversations” feature.
Finally, the new experience is subject to OpenAI’s data control settings; if the user has previously deactivated the model optimization option, their financial data and questions will not be used to train future AI models.
