Tech giant Microsoft (MSFT) will let customers build their own autonomous AI (artificial intelligence) agents for doing routine work from November. These autonomous agents will be able to carry out daily tasks that require little or no human intervention. Some examples of such work include handling customer queries, managing sales leads, and inventory management.
Microsoft announced the news today at its “AI Tour” event in London. The company claims that such autonomous agents are estimated to help save $50 million in annual costs, similar to adding 187 full-time employees.
More on MSFT’s Copilot Studio Tools
Microsoft said clients can use Copilot Studio to build AI agents. The application does not require knowledge of computer coding. Interestingly, the tech biggie is also launching 10 pre-configured, ready-to-use agent models that will help in routine tasks such as supply chain management, expense tracking, and customer communications.
Microsoft envisions that every employee will have Copilot, which in turn will be supported by several agents. Customers can configure, secure, and test the autonomous agents, and then automate the routine task across apps and data sources.
McKinsey & Co. showed a demo of one such agent it built, as it had prior access to the Copilot Studio tools. McKinsey’s AI agent was capable of checking interaction history, identifying consultants for a particular task, and scheduling a follow-up meeting. McKinsey claims the AI agent could reduce lead time by 90% and administrative work by 30%, proving highly beneficial and cost-effective.
Here’s Why Microsoft is Launching Copilot Studio Tools
Investors and analysts have become skeptical of the huge AI investments made by tech companies. They are concerned that the returns generated would not be enough to justify the means. This notion has pushed big tech to find ways to monetize AI investments such as Microsoft’s Copilot Studio. However, a recent survey by Gartner has shown that Copilot adoption has been slower than expected.
Another tech company, Salesforce (CRM), which is widely popular for its customer relationship management solutions is also expected to launch similar tools. Its competing autonomous AI tool, Agentforce, is expected to be available for public use on October 25.
Is MSFT a Good Buy Right Now?
Microsoft, indeed, has a Strong Buy Consensus rating, as analysts remain highly optimistic about the stock’s trajectory. This is based on 26 Buys versus three Hold ratings on TipRanks. Also, the average Microsoft price target of $503.38 implies 20.4% upside potential from current levels. Year-to-date, MSFT stock has gained 11.8%.
