Microsoft customizes AI for financial teams in specific ‘Copilot’ strategy

Hackers retrieve source code for Microsoft
Hackers retrieve source code for Microsoft

Microsoft showcased an artificial intelligence tool for clients’ finance departments as part of a push to tailor new software to industries, professionals, and, eventually, individuals.

Microsoft (MSFT.O) opened a new tab on Thursday, previewing an artificial intelligence tool for clients’ finance departments as part of a strategy to adapt new software to industries, professionals, and eventually individuals.

According to the company, its product, Microsoft Copilot for Finance, assists users in risk-assessing data sets, producing reports from raw figures, and handling jobs that would otherwise be outsourced. It did not provide pricing or a timeline for wider distribution.

The new AI tool is similar to ones that Microsoft has marketed for salesmen and customer care agents.

These normally cost $20 per user per month, in addition to the software subscription fees required to use these tools, such as Copilot for Microsoft 365, which costs $30.

According to Emily He, a corporate vice president, Microsoft may adapt future Copilots for marketing and supply chain tasks.

The company’s efforts to sell AI for sales and service duties increase its competitiveness with Salesforce (CRM.N), which opens a new tab with a strong focus on those areas. Salesforce on Tuesday announced the release of Einstein Copilot, a competing AI helper.

In a San Francisco media conference, Microsoft showcased how its specialized AI might assist clients in sending emails or performing chores using “customer relationship management” (CRM) systems developed by it or Salesforce.

According to Charles Lamanna, a Microsoft corporate vice president, sellers will use a CRM “far less, maybe never in the future,” because Copilot will “basically on their behalf go and keep the CRM up to date and pull the information from the CRM.”

According to Lamanna, such technologies will continue to be used in the background, but the business models that support them may evolve.

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