Microsoft is expanding the capabilities of Microsoft 365 Copilot in Excel with two major updates designed to handle complex financial workflows more reliably. The company introduced a new “Skills” framework that allows users to define specific processes for the AI, along with a “Plan” mode that provides greater oversight before changes are applied to your spreadsheets.
#1 Customizable Copilot Skills
The new Skills feature lets you teach Copilot how to perform specific, repeatable tasks. Instead of starting from scratch every time, you can create a skill that guides the AI through the necessary steps, ensuring consistent structure and formatting. Microsoft suggests use cases like building discounted cash flow models, preparing variance analyses, or refreshing monthly reporting templates.
You can access a library of pre-built finance skills or create your own custom ones. These custom skills are saved as SKILL.md files in OneDrive, making them accessible to the Copilot assistant. While partner vendors like LSEG, Ramp, and Velixo are developing their own skills for future release, custom user-created skills are currently available via the Insider channel and will be generally available next month.
#2 Planning mode for better oversight
To address concerns about AI making unwanted changes to sensitive data, Microsoft introduced a “Plan” feature. Before Copilot interacts with your spreadsheet data, it will now draft a list of proposed actions—such as modifying a formula—and ask you to approve, edit, or answer clarifying questions. This step ensures you retain control over how the AI handles your financial information.
Once the approved actions are completed, Copilot posts a link to the changes in the chat window. These edits appear in the “Show Changes” pane alongside modifications made by human users, providing a clear audit trail of what the AI did and when.
#3 Third-party data integration
Copilot in Excel can now connect directly to third-party platforms to pull in external data. Supported sources include major financial and market intelligence providers such as Moody’s, CB Insights, Morningstar, and PitchBook. This allows for more dynamic analysis without manually copying data from other services.
What this means for you
If you use Excel for financial modeling or regular reporting, these updates aim to reduce repetitive work while increasing trust in the AI’s output. The ability to save specific workflows as Skills means you can standardize how Copilot handles complex tasks across your organization. Meanwhile, the planning mode offers a safety net, letting you review proposed changes before they affect your data.
These features are rolling out progressively to paid Microsoft 365 Copilot users. Pricing remains at $30 per user per month for larger enterprises or $21 per user per month for the Business plan (organizations with fewer than 300 employees).
Source: Computerworld
Over to you: Would you trust Copilot to automate complex financial models using the new Skills feature, or do you prefer manual control?
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