TLDR

• Microsoft has launched a public preview of Copilot for Finance, a generative AI solution aimed at streamlining audits and financial reporting.
• This technology automates data reconciliation, communication, and anomaly detection in financial processes.

Microsoft has introduced a new generative AI solution called Copilot for Finance to streamline audits and financial reporting. The technology, currently in public preview, aims to automate various financial processes for increased efficiency.

Copilot for Finance is designed to automate tasks such as data reconciliation by simplifying the process with a single prompt. It can also automate communication and payment plans, as well as detect anomalies and variances to accelerate financial reporting.

Users will be able to prompt Copilot for Finance in natural language instructions to perform tasks like detecting outliers and highlighting variances for further investigation. The AI solution can also generate specific financial commentary, PowerPoint presentations, and emails for reporting to key stakeholders.

The product, integrated with the Microsoft 365 suite, includes features like generating insights, extracting data from financial systems, suggesting actions to take, and providing contextualized text.

Copilot for Finance is compatible with existing financial systems like Dynamics 365 and SAP, allowing for seamless integration with thousands more through Copilot Studio. Even Microsoft itself will be using the solution for its financial guidance, setting an example as customer zero for this AI technology.