Microsoft (MSFT) is increasingly integrating its AI-powered Copilot technology into its Microsoft 365 suite, which includes Excel, PowerPoint, Outlook, and Teams. The latest updates, part of the company’s "Copilot Wave 2" rollout, introduce new features like using Copilot to draft PowerPoint presentations and an email-prioritizing tool in Outlook.

In addition to these enhancements, Microsoft unveiled Copilot Pages, a collaborative tool that enables teams to access, edit, and manage data on a shared page, drawing insights from Copilot. Another new feature is the agent builder, allowing users to easily create AI-powered agents, or virtual assistants, to automate business processes without needing extensive technical skills.

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These advancements are part of Microsoft's larger strategy to integrate AI into its wide range of business software and outpace competitors such as Google and Salesforce. As part of its broader effort to monetize its significant AI investments, Microsoft reported that the number of Copilot users has increased by over 60% quarter-over-quarter, with daily active users doubling. Notably, Vodafone has purchased 68,000 Copilot licenses for its workforce after determining that the software helps employees save an average of three hours per week.

The Copilot enhancements across Microsoft 365 aim to improve productivity by streamlining tasks such as tracking meeting transcripts or adding references to Word documents. Meanwhile, the Copilot agent builder, part of Copilot Studio, allows companies to tailor AI agents to their unique needs with minimal technical knowledge. Charles Lamanna, Microsoft’s corporate vice president for business and industry Copilot, explained that different companies like Disney and Novartis may have distinct workflows and data sources, necessitating customizable AI solutions.

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This push into AI, which also includes Microsoft's investment in OpenAI, the creator of ChatGPT, has contributed to the company's stock rising by over 30% in the past year, while Alphabet, Google’s parent company, has seen a 14% increase over the same period. Despite a 19% year-over-year growth in its Intelligent Cloud segment, which generated $28.5 billion in revenue, Microsoft’s earnings slightly missed Wall Street expectations, leading to a dip in shares after the announcement.

Microsoft’s agent builder simplifies processes, such as helping new employees understand health benefits. By setting up an agent in Copilot Studio to answer specific questions and pointing it to relevant documents, workers can receive information quickly without searching through various sources. “Everyone in a company will be able to create and use agents,” Lamanna noted.