The roll-out of Copilot comes as 84% of business leaders believe AI will positively impact their operations. Despite concerns that AI could replace the labor force in some sectors, many companies struggle with manual payment processing, a problem that AI and machine learning can solve. These technologies can analyze large data sets in real-time, enabling businesses to safely execute or halt payments, and can also reduce human error by reading paper-based and scanned invoices.
Key takeaways:
- Microsoft has begun selling its Microsoft 365 Copilot AI for its Office app business subscribers, which could potentially generate over $10 billion in annualized revenue by 2026.
- The AI product is expected to be used by 18% of eligible users, according to Piper Sandler analysts.
- Microsoft plans to integrate AI across its entire Windows 11 platform, marking a major shift in the go-to-market phase for generative AI.
- AI and machine learning technologies can help businesses process payments more efficiently and accurately by sifting through large data sets in real-time and circumventing human error.