ChatGPT will offer personalized financial advice (if you connect your bank account)

OpenAI is stepping into the world of personal finance, introducing a brand-new feature within ChatGPT. Available now as a preview for US-based Pro users, this innovation allows individuals to link their financial accounts directly to the chatbot. The goal is clear: transform ChatGPT from a source of general money management tips into a powerful, personalized financial advisor. OpenAI notes that over 200 million users already seek financial guidance from ChatGPT monthly. By providing a framework for users to connect their accounts, the AI can evolve beyond generic advice. Instead, it can offer tailored insights and actionable steps, directly empowering users to improve their financial lives. This significant integration is powered by a strategic partnership with Plaid, a leading data network that boasts connections to over 12,000 financial institutions, encompassing major banks like Citi and Chase, as well as popular services such as Affirm and Robinhood. ## Getting Started with Personalized Financial Insights Accessing this cutting-edge feature is straightforward for eligible Pro users. Simply navigate to the "Finances" section in ChatGPT's sidebar or initiate the process with a prompt like "@Finances, connect my accounts." ChatGPT will then securely guide you through importing your financial information via Plaid. Once connected, the chatbot will begin compiling a visual dashboard of your finances, similar to the example provided by OpenAI [IMAGE_0]. This generation process may take a few minutes. From there, you can explore pre-set prompts or ask specific questions to delve into your financial data and receive personalized recommendations. ## Your Money, Your Control: Addressing Privacy Concerns It's natural to have reservations about sharing financial data with an AI. OpenAI is directly addressing these concerns by implementing strict limitations on what ChatGPT can access and do. According to the company, ChatGPT is designed to only read your balances, transactions, investments, and liabilities through Plaid. Crucially, it **cannot** see full account numbers, nor can it make any changes or initiate transactions on your behalf. This read-only access is a fundamental security measure. Furthermore, users retain complete control over their data. You can disconnect your financial accounts from ChatGPT at any time. Any "memories" the chatbot saves about your financial situation are fully visible and can be deleted directly from the "Finances" section within the app. For enhanced privacy, ChatGPT cannot access these financial memories when you opt for temporary chat sessions. Importantly, OpenAI's existing data control settings apply to this new experience; if you've already configured your preferences to prevent data usage for training future models, this protection extends to your new financial interactions. ## The Future of AI-Powered Financial Guidance An OpenAI spokesperson confirmed that development for this feature was underway prior to their recent acquisition of Hiro, a fintech startup known for its AI-powered financial planning tool for consumers. This indicates a long-term strategic commitment to advancing AI in personal finance. OpenAI plans to expand access to this experience to more users, including Plus subscribers, in the future. The current preview phase is a deliberate step: "We're starting with a preview to a smaller group so we can learn from real-world use, improve the experience, and expand thoughtfully," OpenAI stated, emphasizing their dedication to refining the service based on valuable user feedback.