Microsoft has unveiled Microsoft Copilot for Finance, an AI-enhanced workplace automation solution that expands the capabilities of Microsoft 365, joining the ranks of Copilot for Sales and Copilot for Service in its comprehensive suite.
This innovative offering aims to simplify the management of financial data, automate various tasks, and provide users with actionable insights and advice. Leveraging existing data from platforms like Excel, Enterprise Resource Planning (ERP) systems, and Microsoft Graph, Copilot serves as a valuable assistant in navigating complex financial landscapes.
Key features of the new service include the ability to analyze data sets in Excel using natural language queries, troubleshoot issues within Excel, summarize customer accounts directly in Outlook, and transform Excel data into visual representations and reports.
The AI-powered tool is tailored to help users efficiently manage extensive financial data while transforming it into a practical resource. Mala Anand, Corporate Vice President for Customer Experience and Success at Microsoft, remarked on the impact of generative AI, stating, “Generative AI has been a game-changer for our own contact center at Microsoft. Agents now spend significantly less time searching for information, which allows them to dedicate more time to resolving complex customer issues. This shift has not only made newer agents feel more confident and capable, but it has also led to shorter onboarding times and greater job satisfaction.”
Over 30,000 organizations, including industry leaders such as Visa and Northern Trust, are already utilizing Microsoft’s Copilot suite. Users of Copilot for Sales reportedly save an average of 90 minutes each week, with 67% of companies indicating that the tool has provided them with additional time to engage with customers.
Commenting on the broader implications of AI in the finance sector, Carolyn Isaacs, Global Director of Financial Services at Dentsu, noted, “Artificial intelligence is reshaping the operational framework of businesses. At Dentsu, we continuously seek to harness the power of generative AI for our workforce within a framework grounded in ethical and responsible AI principles. With our existing initiatives centered around Microsoft Copilot for Microsoft 365 and Microsoft Copilot for Sales, we are eager to explore the benefits of Microsoft Copilot for Finance. We believe this tool has the potential to enhance the efficiency of our finance professionals by streamlining routine tasks, ultimately allowing them to focus on driving performance across our organization.”