Microsoft’s AI-Powered ‘Copilot for Finance’ will Integrate with Microsoft 365 for Generative AI and Automation Solutions in Workflows.
On February 29, Microsoft introduced “Copilot for Finance” to the public via a preview. Integrating with the Microsoft 365 suite of productivity tools, the new service enabled by artificial intelligence offers generative AI and automation solutions for both new and existing workflows.
Copilot is a virtual AI assistant developed by Microsoft. Incorporating this functionality into the Windows and Microsoft 365 ecosystems provides a productivity-oriented alternative to ChatGPT.
Microsoft has recently unveiled the “Copilot for Finance” iteration of its AI service, which offers finance professionals end-to-end solutions.
As stated in a blog post by Microsoft, thousands of the organization’s financial experts and the finance divisions of many business partners evaluated Copilot for Finance.
One of the primary obstacles numerous finance professionals encounter is a need for more time. As stated by Microsoft, its new AI tool is the answer:
“Eighty percent of finance leaders and teams face challenges to take on more strategic work outside the operational portions of their roles. However, 62% of finance professionals say they are stuck in the drudgery of data entry and review cycles. Copilot for Finance can help free up time.””
The new service joins Copilot for Service and Copilot for Sales, two additional professional AI assistant offerings from Microsoft. In the interim, the original version of Copilot has been hot-patched and is now pre-installed in the taskbars of Windows 11 users.
While the proliferation of AI services tailored to specific operating systems and applications may generate profits for leading technology companies, they also satisfy expert demands for AI models trained on financial data and designed to perform with the precision required to assist finance professionals.
Although Copilot and its Finance, Sales, and Service derivatives are constructed using the same OpenAI technology that powers ChatGPT, that technology has been optimized specifically for the finance domain.
