Will Intuit’s AI Moves Help it Evolve, or Will it Get Cannibalized?

Last month, Intuit (Nasdaq: INTU) announced its third quarter results that failed to impress the market. The company saw revenues grow at the slowest rate since 2024. Intuit also announced a 17% reduction in its workforce as it reorganizes itself. Analysts believe that Intuit’s products will be cannibalized with the growth of AI use-cases. In reaction, Intuit’s stock has fallen nearly 40% this year.

Intuit’s Financials

Intuit’s revenue grew 10% to $8.56 billion, missing analyst estimates of $8.61 billion. This was the slowest growth in revenue that it recorded since 2024. EPS of $12.80 was ahead of analyst estimates of $12.57.

For the current year, Intuit expects revenues of $21.34-$21.37 billion with an EPS of $23.80-$23.85. The market was looking for revenues of $21.23 billion with an EPS of $23.21.

Intuit’s Growth

Intuit continues to leverage AI and launch AI-based tools to help expand its functionality. Earlier last month, it launched QuickBooks Workforce, an AI-native Human Capital Management solution for small and mid-market businesses. The application is integrated into QuickBooks Online and Intuit Enterprise Suite and helps integrate the entire employee lifecycle into a single, automated ecosystem. QuickBooks Workforce allows customers to access tools from digital onboarding and time tracking to retirement planning and performance reviews, thus saving time, and increasing overall efficiency.

It also announced Analytics AI, a native conversational analytics agent in Mailchimp that connects performance across campaigns, audiences, and revenue to help businesses identify changes and next steps. With Mailchimp’s expanded integrations with Claude, Wix, and WooCommerce, Intuit can integrate e-commerce data and leverage AI-powered marketing capabilities to help brands with improved email marketing and automation capabilities. The tool does not require complex dashboard building capabilities and lets marketers ask questions in plain language and receive instant, strategic recommendations.

Intuit plans to continue to launch other AI tools to help its customers. To drive monetization of the tools, it is also working on a pricing strategy especially for the users at the higher end of its portfolio. It plans on introducing a consumption-based model for its AI and human intelligence services so that customers can scale usage and get greater benefits and business outcomes.

Intuit has recognized that chatbots alone are not the solution for enterprise environments. Last year, it released an all-in-one platform powered by Intuit Intelligence, and supported by human experts. Intuit Intelligence leverages a business’s data to provide access to a virtual team of AI agents across its offerings.

Built with a conversational approach in mind, Intelligence allows users to ask the agent to run processes, provide insights and conduct analytics. Its AI agents are helping close books, categorize transactions, run payroll, automate invoice reminders and surface discrepancies. Intuit also leverages trusted human experts who deliver experiences, insights, and recommendations for better business decisions. The platform gives customers the ability to access human experts who can help address complex queries and concerns so that they are not relying solely on AI for business decisions. Initial reactions have been positive with some customers reporting invoices are being paid 90% in full and five days faster, and that manual work has been reduced by 30%.

Layoffs at Intuit

Like other tech players, Intuit announced plans to cut workforce as well. It plans to consolidate office locations and bring teams together physically to increase collaboration. It is eliminating redundant roles after integrating TurboTax and Credit Karma, and it will pull back on its Mailchimp operations. The 17% reduction in workforce will impact almost 3,000 employees across the organization. The company did not attribute the reorganization to AI. Instead, it believes that the reorganization will help make it more agile by reducing management layers, eliminating “coordination-heavy roles”, and removing duplicative functions after integrating Credit Karma and TurboTax more closely together.

Intuit’s stock is trading at $281.77 with a market capitalization of $75.8 billion. It touched a 52-week high of $813.70 last year. The stock has been falling since a year ago and fell to a 52-week low of $268.01 earlier this week.

As of April 2026, the global tech industry has recorded 78,557 layoffs, with 76.7% occurring in U.S. companies. While giants like Oracle (25,000+), Amazon (16,000), and Block (4,000) lead the charge, a disturbing pattern has emerged.

According to research by Alan Cohen (RationalFX), nearly half of these job losses are now explicitly tied to “AI Restructuring.” However, a deeper analysis suggests that AI is often being used as an “AI-as-an-excuse” narrative to justify aggressive cost-cutting and boost sagging stock prices. Companies like Oracle have automated the termination process itself, firing thousands via 6:00 AM emails—a cold-blooded approach that reflects a total deficit of empathy and human kindness.

The 1Mby1M Perspective: Stop Being the Victim

There is only one permanent solution to this trend of mass layoffs and “AI-driven” displacement: Learn to become an entrepreneur. You don’t have to build a “Unicorn.” You just need to solve a real problem, build a sustainable business, and create your own livelihood. This tsunami of layoffs will continue; paralysis is not a solution. * If you have been laid off: Now is the time to pivot your skills toward a venture you own.

Read my papers on Career Lifeboat Strategic Framework for Professional Resilience and why Solo Entrepreneurs are Vital for the AI era.

If you still have a job: Now is the perfect time to consider bootstrapping a startup with a paycheck before the next 6:00 AM email arrives.

Take Action Now

• For the Displaced: Equity-Free Accelerator for Laid-Off Techies | 1Mby1M
• For the Part-Time Founder Hedging Against Layoffs: Bootstrap with a Paycheck through 1Mby1M
• Free Mentoring: Join our Free Mentoring Roundtables for Startup Founders to get direct feedback on your idea.
• Rapid Validation: Use the 1Mby1M AI Mentor to stress-test your business model 24/7.

Master the Strategy: Enroll in the Udemy AI Mentor Prompt Course to learn how to use AI to build—not replace—your future.

About 1Mby1M:

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures.

1Mby1M does not charge equity, offers an AI Mentor available 24/7 in 57 languages, and offers a compelling alternative to Y Combinator and other equity accelerators.