Microsoft has launched a suite of artificial intelligence-powered ‘agents’ geared towards businesses, as the tech giant continues to build out its suite of AI products in a bid to stay ahead of the competition and woo investors.
At its AI Tour event in London on Monday, Microsoft boss Satya Nadella introduced the autonomous agents, which are designed to handle background tasks and automate processes.
Nadella said the company has developed a “rich tapestry of AI agents that augment everything else we’ve built.”
The new software, available for public preview next month, allows users to collaborate with AI alongside human colleagues.
Companies can create their own AI agents without any coding experience by teaching them specific tasks and uploading documents such as company policies.
“It’s no more mystical than creating an excel spreadsheet,” said Nadella. “Think of these as a new form of applications that any one of us could create.” He positioned the AI agents as tools to streamline operations, cut down on inefficiencies and drive greater value for businesses.
For example, management consultancy McKinsey is trialling an agent to accelerate client onboarding. In a pilot study, McKinsey saw lead times slashed by 90 per cent, with administrative work reduced by 30 per cent.
Microsoft looks to cash in on AI drive
Microsoft may be hoping this announcement will placate investors ahead of its first quarter earnings report on 30 October, where investors will probe the company’s AI spending and revenue growth. Analysts are forecasting earnings per share of $3.10 (£2.38) on revenue of $64.53bn (£49.54bn).
The AI push forms part of Microsoft’s wider strategy to capitalise on its multi-billion dollar investments in AI. In its most recent quarterly report, Microsoft revealed it spent $19bn (£14.6bn) on capital expenditures, mainly for AI and cloud infrastructure, bringing total investment for the year to $55.7bn (£42.7bn), nearly double 2022 levels.
Currently, 60 per cent of Fortune 500 companies are using Microsoft 365 Copilot, the platform on which the AI agents will live, just one year after its launch.
But Microsoft is also growing the reach of its AI tools. It today announced a new five-year partnership with the British government’s Crown Commercial Service (CCS) to provide cost savings on products like Copilot and Azure for public sector organisations.
Nadella said the agreement will “catapult” the UK’s public sector into the AI era, while Clare Barclay, chief of Microsoft UK, hailed the partnership as a way to create a “digital-first public sector infrastructure.”
Roger Gonourie, chief commercial officer at CCS, added: “This agreement will support eligible public sector organisations to pursue their digital transformation and innovation ambitions, by enabling them to benefit from leveraging the size and scale of the UK public sector.”