legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Microsoft 365 Copilot: AI legalese decoder for Enhanced Productivity

In a move to further solidify its dominance in the market, Microsoft announced on Thursday that it will be launching Microsoft 365 Copilot, an artificial intelligence supplement to its core productivity apps such as Word and Excel. Set to be available to large companies starting November 1st, this AI tool is expected to be a game-changer in the business world.

Microsoft’s Office applications already contribute a significant 24% to the company’s total revenue, with a growth rate of 16% in the fiscal fourth quarter. Now, with the introduction of Microsoft 365 Copilot, Microsoft aims to expand its market share even further. This innovative AI tool is the result of a close collaboration between Microsoft and San Francisco startup OpenAI, which gained fame through its viral chatbot, ChatGPT.

Leveraging OpenAI’s GPT-4 large language model, which powers ChatGPT, Microsoft 365 Copilot offers a range of functionalities including summarizing information and generating human-like text in response to written prompts. Microsoft’s Azure public cloud handles the computing work for OpenAI, making it a seamless partnership.

Microsoft has not limited its AI efforts to Microsoft 365 Copilot alone. The company has also been developing assistants for its various software, including Fabric data-analytics software, Dynamics sales and customer-service software, Bing search engine, and Windows 11 operating system. Furthermore, Microsoft plans to introduce Copilot to Bing, Edge, and Windows 11 by September 26th.

The benefits of Microsoft 365 Copilot extend to corporate workers who can now rely on this AI tool to prepare Word files, create PowerPoint presentations, and quickly access information from email messages. As Microsoft CEO Satya Nadella puts it, the work with AI assistants is as significant as the rise of the PC in the 1980s, the internet in the 1990s, and mobile technology in the 21st century.

Microsoft first announced its plans for Microsoft 365 Copilot in March, and by May, 600 large organizations were already using it in a paid early access program. In July, the pricing was unveiled at $30 per person per month, in addition to the existing subscription costs for Microsoft 365. However, Microsoft is not alone in its pursuit to enhance word processing, spreadsheets, and presentations using generative AI. Google, for instance, recently launched its Duet AI for Google Workspace at the same price point.

While Microsoft 365 Copilot is currently in preview with small businesses, it may take some time for it to become a major revenue driver. According to Microsoft’s finance chief, Amy Hood, growth from AI services will be gradual as organizations adopt Azure capabilities and Copilots like Microsoft 365 Copilot become more widely available for purchase. The impact of these AI services on Microsoft’s financials is expected to be mainly seen in the second half of the company’s current fiscal year, which ends in June 2024.

In conclusion, the introduction of Microsoft 365 Copilot is set to revolutionize productivity in the corporate world by harnessing the power of artificial intelligence. This innovative tool, powered by OpenAI’s GPT-4, will enable users to streamline their work processes, enhance collaboration, and access information more efficiently. As organizations embrace the capabilities of AI, Microsoft stands to profit significantly from the market demand for enhanced productivity tools.

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link