The AI-assisted Microsoft 365 plugin “Copilot for Finance” was made available by Microsoft on February 29. Similar to that, it has financial-specific tools that let users list actions, create reports, and even suggest contacts.
According to a recent blog post by Microsoft, Copilot for Financed has already been tested by a number of firms. Although Copilot would use the same technology as ChatGPT to handle the complexities of the financial industry, its primary focus would always be on precision and accuracy.
This new tool aims to assist time-constrained financial professionals who are unable to commit adequate time to various financial data analyses. According to Microsoft, 62% of these workers miss out on opportunities to undertake more strategic work because they are often bogged down in repetitive activities. And 80% of them require more challenging responsibilities within the organization.
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