- Excel’s AI updates give it reusable skills and real-time data integration
- Microsoft knows that finance professionals are an untapped area of the market
- User demand is responsible for what tools Microsoft adds next
Microsoft has announced a new update to Copilot in Excel aimed specifically at finance professionals, positioning the spreadsheet software as an AI-powered tool for financial modeling, forecasting and reporting.
OpenAI and Anthropic are already proving that the field can be a lucrative business model, targeting both finance and legal departments with their own domain-specific offerings, and Microsoft has become the latest.
The company proudly proclaimed that Excel has been the go-to tool for finance professionals for decades, hoping that this AI-powered makeover will solidify its position in the coming decade.
Instead of pushing useless and unrelated artificial intelligence on users, Microsoft emphasized that its users “shape it as much as they use it and tell us where it falls short.”
Skills are the focus of this latest update – pre-built, repeatable workflows like closing boots and updating a monthly report so users can generate accurate insights without having to configure it each time. Customers can build their own skills or choose from a library of shared skills, and soon partners will also be able to offer their own skills through Excel such as LSEG, Ramp, Rogo, Samaya AI, Velixo and Vena.
And for companies looking to leverage external data, direct integrations with third parties like CB Insights, Daloopa, FactSet, Morningstar, PitchBoot and S&P Global pull in real-time information, eliminating the need for time-consuming manual data extractions.
Importantly, Microsoft continues to position its AI tools as an AI counterpart, not a human replacement, likening these particular Excel upgrades to a “trusted analyst” making “transparent and transparent” changes.
But despite offering built-in AI integration, Claude and ChatGPT already have their own Excel add-ins.
The latest Copilot AI updates are now available to M365 Copilot users, with continued rollout of custom skills and partner-built skills over the next few months.
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