Microsoft recently disclosed its integration of OpenAI’s GPT-4 model, Copilot, in Microsoft 365 workplace tools. This move is expected to simplify office activities and increase overall efficiency.
This development comes at a price to enterprises. The costs for Microsoft 365 business-grade edition will increase significantly. Users will see an increase from 53% to 83% more per month. Also, Microsoft’s AI-generative coding helper, GitHub Copilot, business plan is $19 monthly. At the moment, OpenAIl presently charges $20 per month for the premium version of ChatGPT.
Presently, Microsoft has granted more than 600 customers early access for testing purposes. However, the specific timeline for wider service availability has not been disclosed yet.
The Functionality the Integration Comes With
With the Copilot integration, Microsoft introduced to its Office products large language model technology. This integration empowers users to perform various tasks. These activities include writing responses, summarising email chains, turning Word documents into PowerPoint presentations, taking notes during Teams meetings, doing data analysis in Excel, and easily producing professional data visualizations
Reaction and Comments about the Integration
According to experts, businesses should carefully evaluate their business prospect value and the presence of useful Microsoft 365 valuable data 65 before investing in Copilot. Richard White, CEO of WiseTech Global, has already signed up to trial the new version of Microsoft 365 in Australia and believes that Copilot’s capabilities will significantly enhance staff productivity.
Microsoft and the Technology Council of Australia jointly estimated that the widespread acceptance of generative AI could by 2030 add $115 billion yearly to Australia’s economy by 2030.
Microsoft will gain significantly from the inclusion of Copilot. There is a projected potential revenue of $14 billion if about 10% of existing users sign up within its first year. However, with AI solutions growing demand, organizations must conduct a thorough cost-benefit analysis to ensure the technology’s effective utilization and maximize its overall value.
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