On February 29th, Microsoft introduced “Copilot for Finance”, an AI-assisted extension of Microsoft 365.
This extension has financial-specific abilities that provide users with services like report generation, the enumeration of action items, and even contact suggestions.
This new tool seeks to help the time bound people in the financial field who are unable to devote enough time to different financial data analysis. Microsoft says that 62% out of these professionals pass up the opportunities to do work that is more strategic because they are often caught up in repetitive tasks. And 80% of them need more challenging assignments in the organization.
Following a blog post that Microsoft recently shared, it clearly stated that Copilot for Financed had already been put to test by several companies already . Although Copilot would be based on the same technology as ChatGPT to deal with the finer points of the financial industry, its main focus would always be on the level of precision and accuracy.
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