On February 29, Microsoft released a public preview of “Copilot for Finance.” The new AI-powered service offers generative AI and automation solutions for both new and old workflows. And it connects with the Microsoft 365 range of productivity tools.
Microsoft’s take on a virtual AI helper is called Copilot. Its incorporation within the Microsoft 365 and Windows ecosystems essentially delivers ChatGPT-like capability in a modality designed with productivity in mind.
With the release of the AI service’s “Copilot for Finance” version. Microsoft is offering end-to-end solutions designed with finance experts in mind.
Microsoft Copilot for Finance uses AI to enhance financial processes. It connects existing ERP systems to your preferred productivity tools to help employees work more efficiently. Reimagine the way work gets done using the power of AI! https://t.co/bq3buGdD4P ✅ #Microsoft365 pic.twitter.com/zCJV9xfVLu
— Microsoft 365 (@Microsoft365) February 29, 2024
Thousands of Microsoft’s own financial experts as well as the finance divisions of several business partners tested Copilot for Finance, the company said in a blog post.
For many finance professionals, time, or the lack of it, is their greatest obstacle. Microsoft suggested that the answer lies in its new AI tool:
Eighty percent of finance teams and leaders find it difficult to expand their responsibilities beyond the operational sphere. But according to 62% of financial professionals, they are ensnared in the tedious cycle of data entry and review. Copilot for Finance can assist with time management.”
The new service complements Copilot for Sales and Copilot for Service, Microsoft’s previous professional AI assistant products. In the meantime, users of Windows 11 have the original version of Copilot hot-patched onto their taskbars by default.
While OS and app-specific AI services are a lucrative business for the leading tech companies, experts have long demanded AI models trained on finance data and designed to handle the precision required to support finance professionals. These models are now available.
