Copilot for Finance: A tailoured AI tool of Microsoft's 'Copilot' strategy

Copilto for AI would facilitate users to analyse tremendous amount of data for risks, generate reports based on raw statistics of the data
An undated image of Microsoft Copilot. — Microsoft
An undated image of Microsoft Copilot. — Microsoft

Redmond-based tech giant Microsoft is tailouring its own generative artificial intelligence (GenAI) tool Copilot as part of its strategy to design a Copilot variant to specifically cater to the needs of professionals from the domain of finance.

Being called Copilot for Finance, the AI tool would facilitate users to analyse tremendous amounts of data for risks, generate reports based on raw statistics of the data, and do all for which organisations may need to hire professionals, as per the company.

The finance-oriented version of Copilot reportedly mirrors those already existing in the market, primarily built with more or less similar functionality and services for salespeople and customer-service representatives.

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On an average, those tools cost around $20 per user per month, discounting the subscription fees for the software required to use these tools, whose closest and most relevant example is the company's Copilot that costs $30 for Microsoft 365, Reuters reported.

Microsoft might also customise the Copilot AI tool in a bid to serve the domain of marketing and supply-chain work, Reuters said while citing Emily He, a Microsoft corporate vice president. 

Microsoft's ventures to enhance and endorse the face of AI that performs with efficiency the tasks of sales and service is something that potentially suffices to place the company in the same calibre as that of Salesforce — which excels in this area.

Earlier this week, Salesforce announced that Einstein Copilot, its AI assistant, is widely available in the market.

During a San Francisco-based media briefing, the company demonstrated how its tailoured AI tool could help users in writing emails or perform tasks while retrieving the data from "customer relationship management" (CRM) systems created by itself or Salesforce.

Charles Lamanna, another Microsoft corporate vice president said sellers will go to 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."