OpenAI now wants ChatGPT to access your bank accounts

Your trust in AI is about to be tested: OpenAI will soon let you give a chatbot direct access to your bank accounts. The new feature announced in preview today will allow users to “securely connect” to ChatGPT Manousheh — Bank-to-app platform used by 12,000 financial institutions, including Schwab, Fidelity, Chase, Capital One and more.

“More than 200 million people already go to ChatGPT every month to ask financial questions — from budgeting to tips on how to cut back on spending,” OpenAI said in its announcement. “Now, users can securely connect their financial accounts with Plaid to get a complete view of their financial picture in the context of their personal goals, lifestyle and priorities that they have shared with ChatGPT, powered by OpenAI’s advanced inference capabilities.”

When financial accounts are connected, OpenAI says ChatGPT users can view a dashboard detailing their spending history, including any active subscriptions. Users can also ask it for help with financial decisions like buying a home or signing up for credit cards and report any changes in spending habits.

This financial feature will initially be available to users in the US who subscribe to ChatGPT’s professional tier for $200 per month. “We will learn and improve from early use before rolling it out to Plus, with the goal of making it available to everyone,” says OpenAI.

This launch follows the introduction of OpenAI ChatGPT Validity In January, a service designed for health-related questions “is not intended for diagnosis or treatment.” Health, like money, requires a An enormous amount of confidence That OpenAI will keep user data private and secure.

To allay concerns, OpenAI promised users “control over their data,” including the ability to disconnect their bank accounts from ChatGPT at any time, although the company has up to 30 days to delete your data from its systems. You can also view and delete “financial memories” such as financial goals or commitments saved by the chatbot. User control extends to whether your data is fed back to AI models – users can enable the “Optimize model for everyone” option to allow financial data in their ChatGPT conversations to be used to train AI, for example. OpenAI also says that ChatGPT can’t make any changes to your bank accounts or see “full account numbers.”

But it is He can View your balances, transactions, stock portfolio, and liabilities such as mortgage and credit card debt. And OpenAI — the company that He ultimately needs to make a profit – It does not specify what the company itself will do with all that financial information outside of AI training, or whether there are any additional safeguards to protect users’ financial data from being hacked into the system. What could go wrong?