Microsoft Corp. (NASDAQ:MSFT) has unveiled a new version of its Copilot assistant, designed to enhance team collaboration.
The move is part of the company's broader strategy to integrate artificial intelligence across its product line.
This AI assistant is Named Team Copilot and is designed to facilitate meetings by taking notes, summarizing key points, and managing deadlines.
The service will become available to corporate clients later this year, Microsoft stated at its annual Build conference for developers, Bloomberg writes.
Microsoft has positioned itself as a frontrunner in the generative AI sector, investing around $13 billion in OpenAI, the creator of ChatGPT.
This investment has led to the incorporation of advanced AI capabilities into Microsoft's productivity tools under the Copilot brand, which includes a coding assistant and an AI-enhanced search engine in Windows.
During the conference, Microsoft also revealed progress in developing its own chips. The Azure Cobalt 100 CPU, the company's first proprietary processor, is now available in preview for Azure cloud service users.
Although not designed for high-end AI tasks, the Cobalt chip signifies a huge step in Microsoft's strategy to compete with leading cloud providers by offering custom-built devices at lower costs.
Both Amazon.com Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOGL) have been developing their own chips, enabling them to provide cost-effective solutions compared to traditional chipmakers like Intel Corp (NASDAQ:INTC) and Advanced Micro Devices Inc (NASDAQ:AMD).
Last week, the tech giant said its Azure cloud service will integrate AMD's MI300X AI chips, offering an alternative to Nvidia Corp's (NASDAQ:NVDA) high-demand H100 GPUs.
Microsoft's entry into this space is aimed at enhancing its cloud computing services and reducing reliance on third-party hardware.
Microsoft stock has gained more than 33% in the past 12 months. Investors can gain exposure to the stock via the Technology Select Sector SPDR Fund (NYSE:XLK) and IShares U.S. Technology ETF (NYSE:IYW).
Price Action: MSFT shares are trading higher by 1.18% at $430.34 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.