In this photo illustration, Synchrony Financial’s stock market information is displayed on a smartphone, and the Synchrony Financial logo is visible in the background.
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Editor’s note: An earlier version of this article, based on information provided by Synchrony Financial executives, incorrectly characterized the collaboration between Synchrony and OpenAI. Details, quotes, and characterizations attributed to Synchrony and executives have been removed. The revised version is below.
Synchrony Financial, a credit card issuer for brands like Amazon, Walmart and Lowe’s, announced a partnership with OpenAI on Monday to enable the artificial intelligence company’s models to power card companies’ consumer portals.
“AI is creating an opportunity to reimagine the entire commerce experience, from how customers discover products to how they pay, earn rewards and build loyalty,” Kaylin Voss, OpenAI’s vice president of industry for the Americas, said in a press release.
“At Synchrony, we are approaching the opportunity from both sides: bringing OpenAI into the experiences we create for our customers and partners, while also deploying our cutting-edge models and tools across our company,” she said.
By using OpenAI’s models, Synchrony hopes to remain relevant in the future, when AI agents help research and purchase products. This partnership is still in its early stages and is a step toward providing Synchrony customers with a smoother online shopping experience.
Separately, Synchrony released a ChatGPT plugin that allows consumers to view the company’s marketplace transactions, promotional funding, and partner offers, and said it is bringing OpenAI’s latest model in-house to speed up product development.
The move comes as OpenAI prepares for a major initial public offering, putting pressure on the company to transform ChatGPT into a broader platform for online commerce.
