Microsoft (MSFT) stock hit a buy point on Friday after the company announced that it is adding artificial intelligence tools to its popular Office productivity applications.
The Redmond, Wash.-based software giant on Thursday introduced Microsoft 365 Copilot. Microsoft is embedding Copilot functions into apps that many workers use daily, including Word, Excel, PowerPoint, Outlook and Teams.
Copilot uses next-generation AI to automate and simplify tasks. Further, the software is currently in testing with select commercial customers. But Microsoft did not detail how it intends to monetize Copilot.
Microsoft also announced Business Chat. The new experience works across Office apps and a customer’s calendar, emails, chats, documents, meetings and contacts to do things that people weren’t able to do before.
For instance, with natural language prompts like “tell my team how we updated the product strategy,” Business Chat will generate a status update based on the morning’s meetings, emails and chat threads, Microsoft said.
