Microsoft Launches Copilot Chat for Businesses to Boost AI Adoption

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
TT

Microsoft Launches Copilot Chat for Businesses to Boost AI Adoption

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo

Microsoft on Wednesday rolled out a chat service allowing businesses to use on-demand AI agents for routine tasks, betting on the pay-as-you-go model to drive up the adoption of the technology.

The free service, Copilot Chat, which uses OpenAI's GPT-4, lets users create AI agents using natural languages such as English and Mandarin for tasks such as market research, writing strategy documents and preparing for meetings, Reuters reported.

However, features including summarizing and transcribing Teams calls and creating PowerPoint slides require a $30 monthly Microsoft 365 Copilot subscription.

Microsoft, like other big technology companies, is under pressure to show returns on its hefty investments in AI, as the software giant is set to spend about $80 billion during its current fiscal year on data centers and AI infrastructure.

After a Gartner report last year raised doubts about Copilot's adoption, Microsoft has been pushing its uptake.

In November, Microsoft began allowing customers to create autonomous agents requiring minimal human intervention, a strategy which some analysts say could offer tech companies a simpler path to monetization.



Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
TT

Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo

No decision will be made for at least a couple of years on whether Britain will go ahead with a central bank digital currency for the general public, the Bank of England said on Tuesday, pushing back the timeline for the project.

Former Prime Minister Rishi Sunak championed the idea of a digital currency in 2021 when he was finance minister, but the BoE and the current government have been more reluctant and a public consultation attracted widespread privacy concerns.

Governor Andrew Bailey said in October that a central bank digital currency was "not my preferred option" but might be needed if British banks did not ensure their payment systems were more attractive than those offered by less regulated tech companies, Reuters reported.

The BoE said on Tuesday it was starting work with Britain's finance ministry on a potential design for a digital currency, in line with plans in a previous consultation.

"After completing the design phase over the next couple of years, including taking account of developments in the wider payments landscape, the Bank and government will assess the policy case for a digital pound and determine whether or not to proceed," the BoE said.

In January 2024, the BoE said a decision on whether to go ahead with a digital currency would not be made before 2025 at the earliest.

Britain's government has said a digital pound would be private but not anonymous, unlike physical cash.

As with existing bank accounts and credit card payments, authorities would be able to track transactions they suspect involve money laundering or finance terrorism.

"This legislation would safeguard users' privacy, guaranteeing that neither the Bank nor the government could access users' personal information nor control how households and businesses use their money," the BoE said.