Microsoft announced on the 26th that the use of its generative AI solution, Microsoft 365 Copilot, has been permitted on the internal networks of 26 financial companies.
Microsoft 365 Copilot was included in the new designations for innovative financial services announced by the Financial Services Commission on the 15th of last month under the item 'Use of SaaS and generative AI on internal work devices.' This announcement allows 26 financial companies, including KB Financial Group, to utilize Microsoft 365 Copilot on their internal work devices.
Microsoft 365 Copilot is a generative AI solution that supports various tasks based on large language models (LLMs) and business data within the Microsoft 365 apps. Additionally, Microsoft 365 is a cloud-based software as a service (SaaS) that provides tools for seamless writing, collaboration, and sharing across all devices, including Word, PowerPoint, Outlook, and Excel.
With this designation for innovative financial services, it is expected that financial companies will also realize AI innovations through Microsoft 365 Copilot. First, within the company, a hybrid workplace environment can be established to allow flexible work anytime and anywhere through cloud-based collaboration tools like Teams. Moreover, by linking not only Microsoft 365 apps and internal data but also various content such as documents, calendars, meetings, and chats, generative AI functions can enhance productivity through creation, editing, automation, and data analysis.
Innovation in customer service for financial companies is also anticipated. By applying AI innovations using generative AI tools to customer-facing tasks such as summarizing and delivering consultation content, improving customer inquiry processes, automating repetitive tasks, and providing data analysis and insights, it is possible to enhance work efficiency and offer better services to customers.
The use of Microsoft 365 on mobile devices for financial companies has also become possible. The designated 13 financial companies can utilize the cloud-based Microsoft 365 apps not only on PCs but also on mobile devices. This allows the corporations to build a more flexible hybrid workplace and create a more secure cloud-based work environment.
Cho Young-seo, deputy governor and head of the AI and DT promotion group at KB Kookmin Bank, noted, 'The introduction of Microsoft 365 Copilot is a new attempt focused on dramatically increasing employee productivity.' He added, 'By accelerating AI innovation throughout the company, we can provide more differentiated customer services and expect a positive effect on business performance.'
Jo Won-woo, representative of Microsoft Korea, remarked, 'Microsoft's AI solutions are tools that can radically change the work productivity and collaboration methods of financial companies.' He further stated, 'In the future, Microsoft will actively support more financial companies in effectively utilizing generative AI and proactively responding to changing regulations and security requirements.'