Microsoft (MSFT) continues to roll out more generative AI capabilities across its software products with the debut of Copilot for Finance. The company says the AI service, which is starting in public preview, will make it easier for employees to categorize data and spot mistakes in financial reports.
Microsoft has added Copilot, powered by generative AI, to a number of business products, from Copilot for Microsoft 365 and Copilot for Sales to Copilot for Service. This is in addition to the company's Copilot for Windows 11, which is included in every Windows 11 PC running the latest software updates.
According to the company, Microsoft's Copilot for Finance provides real-time insights into corporate financial data and eliminates the tedious task of entering and searching seemingly endless rows and columns in Excel.
The technology giant says its latest Copilot streamlines audits, detects discrepancies in data, and lets users generate PowerPoint presentations and emails based on available financial information using natural language prompts. It also states that you can.
The Windows maker hasn't disclosed pricing for Copilot for Finance, but the service includes the company's Copilot for Microsoft 365, which adds generative AI capabilities to the Microsoft 365 productivity suite. The platform has traditionally cost $30 per user per month.
Microsoft is putting a lot of effort into ensuring Copilot is deployed across each of its productivity platforms, aiming to out-innovate competitors like Google (GOOG, GOOGL) and Salesforce (CRM). Both of these companies, like many other small businesses, are also building generative AI services for enterprise products to prove to customers that they are on the cutting edge of today's hottest technology trends. .
Last week, Google announced Gemini Business, a $20/month add-on to its Gemini for Workspace productivity suite. The company also offers Gemini Enterprise, a $30-per-month add-on to Gemini for Workspace with enhanced features for meeting summaries and transcriptions.
The move to bring generative AI tools into more enterprise-oriented services comes as Microsoft and its rivals seek to further monetize their massive investments in generative AI technology in recent years.
Microsoft has already invested billions in ChatGPT developer OpenAI and plans to invest billions more over the next decade. The company also said Tuesday that it is working with OpenAI rival Mistral and will begin offering its AI models via the Azure cloud platform.
Microsoft revealed in its latest earnings report that AI services contributed 6 percentage points to Azure revenue growth, up from 3% in the previous quarter. The tech giant's stock has increased 63% over the past 12 months.
Daniel Howley I'm the technology editor at Yahoo Finance. He has been covering the technology industry since his 2011. You can follow him on Twitter. @Daniel Howley.
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