Microsoft Launches Copilot for Finance
In a significant announcement, Microsoft unveiled the public preview of Microsoft Copilot for Finance, extending its AI-powered Copilot suite to address the unique needs of finance teams. The launch aims to transform how finance professionals handle daily tasks, offering workflow automation, recommendations, and guided actions within Microsoft 365. According to recent surveys, finance teams play a crucial role in shaping a company’s strategic decisions, yet 62% of finance professionals find themselves stuck in data entry and review cycles. The introduction of Copilot for Finance seeks to alleviate this burden by automating workflows, streamlining financial tasks, and providing valuable insights. Copilot for Finance is an extension of Microsoft 365, enhancing widely used productivity apps like Excel and Outlook with role-based workflow and data-specific insights. By drawing on existing financial data sources, including ERP systems like Microsoft Dynamics 365 and SAP, as well as the Microsoft Graph, the tool aims to supercharge financial operations. Key features of Copilot for Finance include facilitating quick variance analysis in Excel, simplifying reconciliation processes, providing customer account details in Outlook, and enabling the creation of presentation-ready visuals and reports from raw data in Excel. Copilot for Finance is set to empower finance professionals, allowing them to contribute more strategically to their organisations. The launch aligns with Microsoft’s broader strategy of integrating AI across various sectors, with Copilot for Sales already assisting sellers at over 30,000 organisations. In response to the announcement, several companies, including Dentsu, Lumen Technologies, Northern Trust, Schneider Electric, and Visa, expressed optimism about the potential impact of Copilot for Finance on their operations. The public preview of Copilot for Finance represents a step toward Microsoft’s goal of breaking down information silos and providing actionable insights while adhering to responsible AI principles.
It aligns with Microsoft’s strategy of integrating AI across sectors, with Copilot for Sales already assisting over 30,000 organisations.
It aligns with Microsoft's strategy of integrating AI across sectors, with Copilot for Sales already assisting over 30,000 organisations.
["Microsoft"]
["Go", "API", "AI", "ML", "responsible AI", "Aim", "ViT", "Rust", "GAN", "R", "Microsoft"]
["AI", "ML", "Aim", "R", "Go", "Rust", "API", "GAN", "ViT", "responsible AI"]
Shyam is a tech journalist with expertise in policy and politics, and exhibits a fervent interest in scrutinising the convergence of AI and analytics in society. In his leisure time, he indulges in anime binges and mountain hikes.