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- Excel’s AI updates give it reusable skills and real-time data integration
- Microsoft knows finance workers are an untapped area of the market
- User demand is responsible for which tools Microsoft adds next
Microsoft has announced a new update to Copilot in Excel aimed specifically at finance workers, positioning the spreadsheet software as an AI-powered tool for financial modelling, forecasting and reporting.
OpenAI and Anthropic are already proving the field could be a lucrative business model, targeting both finance and legal departments with their own domain-specific offerings, and Microsoft has become the latest.
The company proudly proclaimed that Excel has been the go-to tool for finance workers for decades, hoping that this AI-powered makeover will concrete its position for decade to come.
Excel is getting new finance-specific AI tools
Rather than pushing useless and unrelated AI on users, Microsoft stressed that its users “shape it as much as they use it, telling us where it falls short.”
Skills are the focus of this latest update – pre-built, repeatable workflows like closing the boots and refreshing a monthly report so that users can generate accurate insights without having to set it up each and every time. Customers can build their own skills or pick from a library of common skills, and soon, partners will also be able to offer their own skills through Excel like LSEG, Ramp, Rogo, Samaya AI, Velixo and Vena.
And for companies looking to tap into external data, direct integrations with third parties like CB Insights, Daloopa, FactSet, Morningstar, PitchBoot and S&P Global pull in real-time information, eliminating the need for time-consuming manual data pulls.
Importantly, Microsoft continues to position its AI tools as an AI colleague, not a human replacer, comparing these particular Excel upgrades to a “trusted analyst” that makes “transparent and reviewable” changes.
But despite offering native AI integration, Claude and ChatGPT already have their own Excel add-ons.
The latest Copilot AI updates are now available for M365 Copilot users, with continued rollout of custom skills and partner-built skills over the course of the next few months.
