Microsoft introduces Copilot AI chatbot for Excel and Outlook
Microsoft has introduced Copilot AI for finance workers and professionals across various sectors by "streamlining tasks, automating workflows," and "providing insights into the flow of work." The chatbot is designed to boost productivity by incorporating advanced artificial intelligence. Powered by large language models (LLMs) like GPT-4, Copilot AI understands and executes natural language commands, revolutionizing task execution and information processing. It seamlessly integrates with Microsoft 365 applications including Excel and Outlook.
Transforming work with AI
Copilot AI aims to transform workplace efficiency by allowing users to analyze trends, create data visualizations, and explore complex data sets in Excel using natural language prompts. In Outlook, the chatbot improves productivity by managing email threads, drafting responses, and summarizing discussions effectively. Additionally, there's an innovative Business Chat feature that operates seamlessly across Microsoft 365 applications and data, enabling users to produce detailed updates and reports with simple commands.
Early benefits from Copilot AI in finance
Microsoft's introduction of Copilot AI marks a new era in computing, where AI takes center stage in our daily work routines. Talking about its development, Cory Hrncirik, Modern Finance Lead at Microsoft, said that thousands of financial planning and analysis team members each spend an hour or two on reconciliation weekly. With Copilot, this process takes only 10 or 20 minutes per week, allowing employees to focus on more engaging work that adds value to the company.
Copilot AI chatbot in public preview
Microsoft plans to offer the Copilot AI chatbot for finance workers in public preview first, with pricing details to follow. Initially, the chatbot will run variance analysis, reconcile data in Excel, and expedite the collections process in Outlook. It can access information stored in SAP and Microsoft Dynamics 365. Additional features for the finance Copilot will be introduced later this year. On a related note, Japanese advertising agency Dentsu is among the companies planning to use Copilot for finance tasks.
