The Latest Trend In AI: What Is A Copilot?

Co founder and CEO, Kasisto . When OpenAI launched ChatGPT a year ago, it made AI more accessible to the broader population and spurred the adoption of AI across almost every industry. Nearly every company has had to form a generative AI strategy and reevaluate how AI will impact their industry. The AI wave has introduced the public to an entirely new vocabulary, from large language models to generative AI and hallucinations.

Now, there is a new term growing in interest: the Copilot. Defining Copilot So what is a Copilot? Copilots are collaboration tools, built using large language models and generative AI. They are typically seamlessly integrated into existing applications to help users save time and boost productivity.

They can handle a wide range of tasks, from routine information summary to the analysis of extensive data collections. Much like a Copilot in an airplane, they work alongside the user—who in this case is the human—and can answer questions, make suggestions and perform basic tasks, freeing up some of the employee’s time for more strategic work.

The goal of a Copilot is not to replace employees—they are created to improve the employee’s experience by helping to complete tedious, time consuming or rote tasks. Impact of Copilots JPMorgan CEO Jamie Dimon recently predicted that AI could shorten the workweek to 3.5 days for the next generation entering the workforce.

Imagine you finish a meeting, and through the use of a Copilot, you immediately receive summarized notes, followed by a pre drafted email to your team on the next steps. Or imagine you’re preparing for an upcoming meeting. You could ask Copilot to review your emails for all materials related to “Q3 marketing.” Then, using that dataset, a Copilot could draft a summary of takeaways related to Q3 marketing, saving you significant time by taking on the tedious task of combing through large sets of data and emails.

Copilots have the unique ability to enhance the employee’s experience at work, giving them more time to devote to customer service or larger strategic initiatives. One of the best parts of Copilots is that it isn’t necessarily the tech itself, but how you use it. Examples Of Recent Copilots As more mainstream software providers introduce Copilots, such as Microsoft , we’re seeing increased adoption within the financial services industry.

By implementing a Copilot, a financial institution can enjoy the benefits of easier access to banking information and the automation of tedious and time consuming tasks, all leading to a better customer service experience. Expect more Copilots in the future, customized by the industry and tailored for specific applications.

Is A Copilot A Chatbot, A Digital Assistant Or Something New? Chatbots have been around for years. But they are not all created equal. A basic chatbot can only answer simple questions with predetermined answers. They are very one dimensional and not suited to complex conversations. However, intelligent digital assistants are trained on a wide range of data and can respond to more difficult questions.

They rely on natural language understanding to analyze conversations through AI. Copilots represent another layer of AI advancement, relying on generative AI trained by LLMs. You can use a Copilot to generate sophisticated answers to complex questions, automate tasks and recommend next steps, like sharing recap notes after a meeting.

You can expect the use of Copilots, or generative AI powered assistants, to continue to rise in sync with generative AI adoption and advancement. When used efficiently, they are powerful tools that have the potential to rapidly increase productivity and streamline how we work. Forbes Technology Council is an invitation only community for world class CIOs, CTOs and technology executives.

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