The artificial intelligence (AI) revolution is continuing at a rapid pace. Today, Microsoft (NASDAQ:MSFT), the largest software firm in the world, has announced AI-powered Copilot for Finance. This is part of Microsoft 365 and claims to “transform modern finance.”
To quote Microsoft:
“Finance departments are critical partners in strategic decisions impacting the direction of a company. Eighty percent of finance leaders and teams face challenges to take on more strategic work outside the operational portions of their roles. However, 62% of finance professionals say they are stuck in the drudgery of data entry and review cycles. Copilot for Finance can help free up time for finance to play more of a strategic role in delivering counsel and insights to the business by streamlining financial tasks, automating workflows and providing insights in the flow of work.”
Microsoft debuted the product with a public preview today.
The service is said to integrate with ERP programs like SAP.
While it is difficult to measure how good the product actually is – as with any software – it will iterate over time. And we can expect competitors from established firms and startups. AI has been around for a long time but now it is in the popular arena and the herd is rushing forward as fast as possible.
