Microsoft introduced Copilot for Finance, an AI tool to streamline enterprise finance tasks

Microsoft unveiled a new artificial intelligence (AI) tool. copilot Thursday for Finance, which aims to help financial professionals navigate day-to-day tasks more easily. The Copilot tool is not a new AI model, and instead builds on the existing Copilot for Microsoft 365 stack to reveal new features specific to financial operations. It is an enterprise-focused AI tool and is currently available in public preview. Especially, tech giants too announced New features and major improvements for Windows 11 Through a new update.

Announcing a new AI tool in A Blog post, Microsoft has positioned its new product as a way to free up time for finance departments in organizations to focus on strategic tasks rather than mundane analysis and report generation. The company also highlighted a data point from CFO magazine stating that 62 percent of finance professionals surveyed cited “the rigor of data entry and review cycles” as a reason for not having time for strategic tasks.

Copilot for Finance, according to the tech giant, automates many financial tasks that would otherwise take long hours for users. It can perform a long list of tasks such as analyzing variations in Excel using natural language notation, matching data in Excel with automated data structure comparisons, providing a complete summary of relevant customer account details. , converting raw data into visuals and reports, and more. .

The tech giant also highlighted that since Copilot for Finance is not a new AI model and can work on top of existing Copilot. Microsoft 365, it can seamlessly pull context from an organization’s existing financial data sources, such as enterprise resource planning (ERP) systems, as well as other similar repositories.

Microsoft’s new AI tool joins its other two operations-specific tools – Copilot for Sales and Copilot for Service. The former may prepare sales meeting briefs, add leads and update CRM records, as well as other analytical and creative tasks. The latter, aimed at people-facing roles, can generate AI-powered conversations with a single click, access information about customers from other systems, schedule meetings and Recaps, draft emails, and more. Both of these tools are generally available to Microsoft 365 customers.