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Artificial intelligence (AI) is not just a buzzword or a futuristic concept. It is a reality that is already impacting many aspects of our lives, from how we communicate, to how we work, to how we learn. AI can help businesses improve their efficiency, productivity, innovation, and customer satisfaction, by automating tasks, providing insights, and enhancing experiences. But how can businesses leverage AI without spending too much time and resources on developing, training, and deploying AI models?
One possible answer is to use copilots, a family of Microsoft products that allow businesses to create and use AI-powered assistants that can interact with users through text or voice, and perform tasks and provide insights across different products and services. Copilot is based on natural language processing and large language models, such as GPT-3 and GPT-4, that can understand natural language queries and requests, and generate relevant and contextual responses.
Copilot is not just one product, but a family of products that cater to different scenarios and audiences. In this blog post, we will explore some of the copilot products that are designed for business users, and how they can help you transform your operations with AI.
Copilot for M365
Copilot for M365 is a copilot product that was introduced as a way to help business users increase their productivity and creativity with the power of generative AI. Copilot for M365 is integrated with Microsoft 365, a suite of productivity tools and services that includes Office, Outlook, OneDrive, SharePoint, and Teams. With Copilot for M365, business users can use natural language to interact with their data, documents, emails, and calendars, and get AI-powered assistance for their tasks and projects.
For example, a business user can ask Copilot for M365 to summarize their emails, catch up on their communications, generate drafts of their emails or documents, search their data for answers to their key questions, and more. Copilot for M365 can also help business users create or write different types of content, such as reports, presentations, articles, and blogs, by providing suggestions, templates, and examples based on their context and intent.
Copilot for Dynamics 365
Another copilot product that can help business users transform their operations with AI is Copilot for Dynamics 365. Dynamics 365 is a suite of business applications that includes tools for sales, marketing, customer service, operations, finance, and human resources. Copilot for Dynamics 365 is integrated with Dynamics 365, allowing business users to use natural language to interact with their business data, processes, and workflows, and get AI-powered assistance for their decisions and actions.
With Copilot for Dynamics 365, business users can ask questions, get insights, and perform actions across different Dynamics 365 applications, using a single interface and a single language. Copilot for Dynamics 365 can help business users analyze their sales data, optimize their marketing campaigns, improve their customer service, streamline their operations, manage their finances, and engage their employees, all with the power of AI.
Copilot for Sales
Microsoft Copilot for Sales is an AI-powered tool that helps businesses improve their sales processes and outcomes. It is integrated with Microsoft Dynamics 365 and enables business users to natural language to interact with their company’s sales data, processes, and workflows, and get AI-powered assistance for their decisions and actions.
The benefits of using Copilot for Sales are numerous. It can help businesses analyze their sales data, optimize their sales campaigns, improve their customer service, streamline their sales operations, and manage their finances. Copilot for Sales can also help businesses generate ideas and content faster, perform and automate tasks faster, and get insights and next best actions. By harnessing the power of AI, businesses can increase their productivity, competitiveness, and customer satisfaction.
According to a Bain & Company report from August 2023 titled “How Generative AI Will Supercharge Productivity,” 29% of tasks done by the sales team can be automated using AI tools, like Copilot for Sales. In a similar June 2023 study from McKinsey titled “The economic potential of generative AI: The next productivity frontier,” they found that sales expenses will be reduced by 2-5% as a result of the productivity lift directly as a result of AI.
The cost for Copilot for Sales is only $20 USD per user per month for users who already have a license for Copilot for Microsoft 365, or there is a SKU available for $50 USD per month that includes both Copilot for Sales and Copilot for Microsoft 365.
Copilot for Finance
Microsoft Copilot for Finance, which at the time of writing this post is currently only available in Preview on a limited basis. The tool is touted to accelerate time to business impact for finance professionals by surfacing insights that reduce time spent by these professionals on manual and repetitive work.
These insights can include providing users with action-oriented recommendations, proactive anomaly detection and specialized prompts and guidance that can be acted on. Copilot for Finance can also improve efficiency by applying next-generation AI to time consuming manual tasks such as accounts receivable collections and contract updates. Data across multiple finance systems can be analyzed to surface recommendations, anomalies, risks or orphaned data that needs attention. This data can be analyzed and commentary or reports generated in order to streamline variance analysis or month-end reporting. Copilot for Finance integrates directly into the Microsoft tools that your finance users already work with on a daily basis, such as Excel, PowerPoint, Outlook and Teams.
In conclusion, copilots offer a range of products and tools that can help business users transform their operations with AI, and create smarter, faster, and more efficient solutions for their customers and stakeholders. Whether you are a business owner, a manager, or an employee, copilot has something to offer that can help you leverage the power of AI and create amazing business outcomes.
Invero offers a unique and comprehensive Copilot for Microsoft 365 Readiness Assessment that leverages software developed by Invero to uncover all data that has been overshared across your entire M365 tenant. To learn more about this offering, you can check out our listing on Microsoft’s AppSource marketplace.
This post covers just some of the content that was part of a broader episode of The Invero Show that did a deeper dive into Microsoft’s Copilots and Generative AI – Options, Licensing Models, Use Cases and Next Steps. You can watch the full episode by clicking the image below.
