How AI Boosts Speed to Knowledge with Copilot Studio for Financial Services
In a recent webinar, Microsoft’s Copilot Studio took center stage, demonstrating how AI-powered tools are revolutionizing operational efficiency and knowledge management within the financial sector. Here are some key takeaways:
Copilot Studio: Operational usage and value-driven deployment
Copilot Studio, developed by Microsoft, is an AI tool designed to enhance operational usage and streamline value-driven deployment. As financial institutions increasingly explore AI solutions, Copilot Studio provides a low-code platform for building customized AI engines securely.
The AI Maturity Model
Gartner’s AI maturity model outlines five levels of AI adoption, ranging from awareness to operational usage. Currently, most organizations fall into the awareness or experimentation stages. The ultimate goal is to transition to operational usage, aiming for level three on the maturity model. However, to transition correctly, it’s important to have a partner that understands how to adopt AI securely. HSO specializes in this area.
Demo 1: Content Generation and Deployment
Using Copilot, Mike typed a short description, and the tool automatically generated relevant content. This capability allows users to quickly create informative material.
Mike created a Copilot assistant within Copilot Studio by providing a name and content from a website. Copilot leveraged existing information to generate responses, making it a valuable tool for chatbots and virtual assistants.
By uploading a document, Mike further customized Copilot’s responses. This integration allows for more detailed answers based on specific content.
Mike showcased how Copilot can be easily deployed on public websites or internal-facing platforms, including Microsoft Teams.
Demo 2: SharePoint Integration and Guided Conversations
Copilot can use generative AI against knowledge bases stored in SharePoint. This setup enables efficient access to relevant information.
Copilot Studio introduces the concept of topics, allowing tailored question-and-answer flows for end-users. Generative AI describes topics and specifies responses.
Andrew associated automation flows (created using Power Automate) with topics. Copilot fetches information from external systems, such as banking databases, based on user queries.
Copilot recognizes trigger phrases and directs users to relevant topics, facilitating guided conversational flows.
Addressing Risks and Partner Advantages
Jonathan Tripple emphasized the importance of addressing risks associated with AI tools like Copilot Studio. These risks include accuracy, privacy, governance, compliance, customization, lack of authentication, and exploitable features. However, partners can assist by mitigating risks, validating data quality, and establishing secure platforms.
Looking Ahead
As financial institutions embrace AI, engagement with various tools beyond Copilot, such as Azure OpenAI and Azure Cognitive Services, is recommended.
Leveraging data advancements like Microsoft Fabric will further enhance AI capabilities. Successful change management and drawing on experiences from other organizations are critical for widespread adoption.
In the optimization and innovation phases, harnessing generative AI will empower employees, enhance work experiences, and drive strategic decision-making in the financial services industry.
Remember, Copilot Studio isn’t just a tool; it’s a catalyst for transforming how financial professionals access and utilize knowledge.
Not sure how to continue on your AI journey?
You don’t have to do it alone. Contact us for a Copilot Studio Proof of Concept, where HSO’s financial services experts will work with you to determine the path that will start delivering results quickly.
Learn more about how we support Financial Services
If you're uncertain of your next step, fill out the form below to get in touch with one of our financial services experts.
