Unlocking the Power of Microsoft 365 Copilot in Excel

Microsoft 365 Copilot is a pioneering feature in Microsoft Office 365 that seeks to enhance productivity and efficiency. This AI-powered tool, designed with the user in mind, integrates seamlessly with Microsoft 365 Apps and offers intuitive suggestions to users as they create or edit spreadsheets in Excel. It is effectively an AI chatbot developed by OpenAI that offers intelligent suggestions based on the user's input.

One of the standout features of Copilot is its integration with other Microsoft 365 applications. This means you can utilize Copilot while working on different Microsoft Office tools, providing a seamless experience across the platform. Microsoft 365 Copilot aims to enhance productivity by providing intelligent suggestions and insights to save time and make tasks more manageable. This AI-powered tool is designed to help users quickly analyze data, generate charts and carry out complicated calculations without requiring complex scripts or formulae.

AI Chatbot Created By OpenAI

Copilot is built with artificial intelligence from OpenAI, meaning it uses machine learning to offer innovative and contextually aware responses to your queries. This AI integration makes it a practical assistant in managing your spreadsheet-related tasks.

How to Enable and Use Copilot in Microsoft Excel

To unlock and use the Copilot feature in Excel, you will need Excel version 16.0.16401.20000 or higher, and you should register your Office installation in the Microsoft Insider Program.

1. Required Excel Version. The first prerequisite to using Copilot is having the correct version of Excel. Make sure to update the software to version 16.0.16401.20000 or higher. This requirement ensures that you have the most recent features and security updates.
2. Register Office Installation in the Insider Program. Once you have the correct Excel version, the next step is to register your Office installation in the Microsoft Insider Program. Doing so grants you access to early releases, including the Copilot feature.
3. Enable Copilot Using Registry Editor. In addition to having the correct Excel version and being registered in the Insider Program, you must enable Copilot through the Registry Editor. This process allows Copilot to become a functional tool in your Excel program.
4. Copilot Button Appearance and Functionality. Once Copilot is enabled, a dedicated button will appear within Excel. Clicking this button opens a sidebar displaying intelligent suggestions for your spreadsheet tasks, enhancing productivity.

Using the Copilot Feature on Excel

Copilot is easy to use and offers several functionalities that simplify your tasks. Opening the Copilot sidebar will show copious insights, and using natural language queries, you can perform complex functions such as financial modeling and scenario analysis.

1. Opening Copilot Sidebar and Viewing Suggestions. When you start using the Copilot feature, a sidebar will open, offering suggestions and assistance with your tasks, making your work easier and more efficient.
2. Using Natural Language Queries. Copilot can understand natural language queries, allowing you to ask it to perform tasks in the same way you would ask a human. This is a significant advantage, making complex tasks more straightforward and intuitive.
3. Financial Modeling & Scenario Analysis. One of the main advantages of using the Copilot feature in Excel is its ability to perform complex financial modeling and scenario analysis tasks. With its AI-powered insights, you can now easily create various business scenarios and compare them side-by-side to make informed decisions.
4. Creating Visuals. Copilot doesn't just handle numbers; it can also generate visuals based on spreadsheet data. This makes it easier to interpret trends and patterns, making your findings more accessible and digestible.
5. Streamlining Financial Processes. With Copilot in Excel, financial processes become easier to handle. By offering attractive features like easy financial modeling, scenario simulation, and the creation of visuals, Copilot enables you to streamline your financial processes effectively.

Outlook for Copilot Usage and Costs

The Microsoft 365 Copilot feature's resourcefulness transcends all Microsoft applications. This powerful tool commands a lot of potential in the world of business and AI, causing users to anticipate its cost, with the possibility of it being promoted as a licensed add-on subscription in the future.

1. Integration with all Microsoft Apps. Copilot's most notable aspect lies in its seamless integration with all Microsoft apps, exhibiting its immense versatility. This enables users to make the most of the AI tools in many applications, benefiting from the convenience and productivity it brings about.
2. Commands for Using Copilot. Copilot uses simple text-based commands that initiate its elaborate array of functionality. Through Copilot, repetitive and complicated tasks in the office setting are easily automated, simplifying elaborate processes into manageable tasks. This feature significantly reduces the time spent on mundane tasks while enhancing productivity.
3. Future Promotion as a Licensed Add-on Subscription. Given Copilot's tremendous potential and the high investment Microsoft has injected into its development, this feature may be promoted as a licensed add-on subscription. This does not come as a surprise, considering Microsoft's history of charging for productivity tools and the impact Copilot is likely to have on businesses and developers.

Pricing Details

Although Microsoft has yet to announce the exact cost of its Copilot services, it noted that the charges would vary depending on the Microsoft 365 plan selected. The cost might go up or down depending on factors such as the number of users and the size of your business. However, specific subscription bundles, like the Microsoft 365 E3, E5, Business Standard, and Business Premium packages, have been indicated to support a $30 per user per month charge for Copilot. As such, more details will be available shortly when Microsoft officially unveils the feature.