Microsoft announced the launch of its Copilot neural network for financial managers.
The chatbot will perform data analysis, reconcile values in Excel, and expedite cash collection processes in Outlook. The AI assistant will have access to information stored in SAP and Microsoft Dynamics 365.
“We want every department to be able to use Copilot’s services,” said Charles Lamanna, Microsoft’s corporate vice president.
According to him, additional features will be added to Copilot later this year.
Microsoft stated that the company’s finance department contributed to the development of the new chatbot. Employees have also had the opportunity to assess its benefits.
“Several thousand people in the financial planning and analysis team spend one to two hours a week reconciling data, but with the new Copilot, it will take 10-20 minutes,” said Microsoft’s finance leader, Cory Hrncirik.
He noted that the main goal is to reduce routine work to free up time for tasks that can bring more value to the company.
The tech giant will offer the tool as a public alpha version. Pricing details will be announced later.
In March 2023, Microsoft introduced Copilot AI for office applications.