What is the Excel Copilot function?
The Excel Copilot function is an AI formula in Microsoft 365. You type a prompt in plain language into a cell, and it returns a summary, a classification or another answer based on your data. Unlike a static formula, its output is dynamic: it refreshes when the underlying data changes.
It brings AI into Excel formulas, so you can find patterns in a dataset faster.
“The new CoPilot functionality in Excel is impressively versatile. While it may not directly enhance the core financial modelling techniques we rely on in project finance, it offers substantial value in accelerating data analysis … It’s a powerful tool for strengthening the analytical foundation behind our models.”
COPILOT function syntax, with an example
The syntax is simple:
=COPILOT(prompt, optional_context, …)
For example:
=COPILOT(“Classify this feedback“, D4:D18)
This formula asks Copilot to analyse the customer comments in cells D4 to D18 and sort them by sentiment. The results update as the data changes.
Microsoft says data processed with the COPILOT function is kept secure and is not used to train AI models.
“As a financial model auditor, I’m genuinely excited by the potential of CoPilot in Excel to streamline workflows and enhance productivity across financial modelling tasks … However, strict model audit procedures rely on full transparency and traceability of calculations. When AI-generated outputs lack visibility into the underlying logic or assumptions, it raises a critical question … Can you truly trust AI-generated calculations in financial models?”
Excel Copilot function examples for data analysis
The COPILOT function is built for practical business uses:
- Summarise data quickly. Condense long survey responses or pick out the main trends.
- Classify feedback or issues. Tag customer comments or support tickets automatically.
- Generate ideas. Brainstorm keywords, messages or project outlines.
- Simplify reporting. Turn complex formulas into plain-language explanations.
- Create lists and tables. Build structured output directly in the spreadsheet.
How to write prompts for the COPILOT function
To get accurate results from AI in Excel formulas, follow these prompting tips:
- Be specific about what you want, for example “Summarise in three bullet points”
- Define the structure: a table, a list or a paragraph
- Use clear action verbs such as summarise, rank or categorise
- Include examples when precision or tone matters
The clearer the prompt, the more useful and consistent the output.
Excel Copilot function limits at launch
At launch, the function has some constraints:
- It only processes data in your worksheet, with no web or enterprise sources yet
- It returns dates as text instead of Excel’s own date format
- Usage limits apply: 100 calls every 10 minutes and 300 calls an hour
Microsoft plans to add richer date support, wider data access, better array handling and continued model improvements.
Which versions of Excel have the COPILOT function
The function is rolling out to Microsoft 365 Copilot subscribers:
- Windows: Version 2509 (Build 19212.20000) or later
- Mac: Version 16.101 (Build 25081334) or later
- Excel for the web: coming through Microsoft’s Frontier program
Microsoft announced the function and its roll-out on the Microsoft 365 Insider blog, which has the latest details.
Why the Excel Copilot function matters for financial modellers
The function puts AI inside the formulas analysts already use, so a classification or summary that once took a separate tool now sits in the workbook and updates with the data.
For financial modellers it helps most with the work around the model: preparing reports, analysing raw datasets and handling feedback. The calculations a lender relies on still need formulas that anyone can trace and a model auditor can test. Our AI in Project Finance Modelling course covers where AI helps in live modelling work and where it does not.