An FP&A Guide on Leveraging Copilot

Where do you even start

If you've spent any time in corporate finance, you've likely noticed the winds of change. Management consultants aren't just whispering anymore - they're shouting from the rooftops about the transformative power of AI and its implications for traditional FP&A roles. The message is clear: adapt or become obsolete.

The Uncomfortable Truth

Executive teams, driven by earnings pressure, are actively seeking ways to optimize costs. FP&A departments are prime targets for these optimization efforts, with leaders looking to bridge productivity gaps through AI and automation. Harsh? Perhaps. But it's a reality we need to face.

Two Paths Forward

Standing at this technological crossroads, FP&A professionals have two choices:

1. Become a tech-savvy "super analyst" who leverages AI to multiply their impact

2. Find a new career path

The Path to Becoming a Super Analyst

There is mounting evidence in recent weeks that while LLMs are fantastic at automating tasks and enhancing workflows, their ability to reason is not as far along as many of the AI developers are claiming.

Why? To train AI, there has to be some judge of the accuracy of the outputs which come either in the form of objective truth (e.g. 2+2=4) or from a human (e.g. this is a picture of an apple).

As a result, AI excels at factual domains (dates, coding, mathematical projections, etc.), but struggles with philosophical domains (reasoning through the infinite meaning of life).

So how does this apply to FP&A? Well, you basically have the smartest mathematical mind in the universe at your fingertips, but that mathematical genius cannot think itself out of a paper bag left to its own devices.

1. Embrace AI as Your Power Tool

Start with the tools already at your disposal. Modern Excel and other financial platforms come with powerful AI capabilities. Here's how to leverage them effectively:

• Ask AI to review your existing processes and suggest efficiency improvements. Example: "Review this variance analysis file and suggest ways to automate the repetitive steps using Power Query."

• Utilize AI to optimize your calculations and formulas Example: Using Copilot to build a multiple linear regression model that predicts sales receipts based on historical data, unit prices, and payment patterns.

• Leverage AI to automate routine tasks through Power Query and other tools Example: Create automated data cleaning workflows that standardize incoming data formats, remove duplicates, and consolidate multiple sources into a single analysis-ready table.

2. Evolve from Analyst to Developer

To evolve from an analyst to a hybrid developer-decision maker, FP&A professionals should focus on three key areas:

• Develop Technical Capabilities

  • Build and maintain predictive models

  • Create automated systems that support decision-making

  • Master AI-powered automation and predictive modeling tools

• Enhance Problem-Solving Skills

  • Proactively identify business challenges

  • Create custom solutions using AI tools

  • Transform complex data into clear insights for decision-makers

• Focus on Value Creation

  • Bridge the gap between raw data and business decisions

  • Build efficient processes without relying on expensive external software

  • Actively seek out problems rather than waiting for assignments

Remember that while AI excels at mathematical and factual tasks, it still needs human guidance for reasoning and strategic thinking. This creates an opportunity for FP&A professionals to position themselves as skilled operators who can harness technology to deliver unprecedented value.

3. Become a Problem Solver, Not Just an Analyzer

The most valuable FP&A professionals will be those who:

• Proactively identify business problems

• Leverage AI tools to develop custom solutions

• Create efficient processes without relying on expensive external software

4. Start Tactically, Scale Effectively

AI solutions are inherently messy and they take a long time perfect. I am still tinkering with AI workflows that help me do everything from curate my content to predict sales for my clients.

However, it is not complicated to spin something up. I show exactly how I accomplish this on my YouTube channel.

You also have to remember that AI at this point is mostly hype. That’s not to say

The New FP&A Playbook

Success in this new landscape requires a fundamental shift in how we approach our role:

• Stop waiting for problems to be assigned - actively seek them out

• Build solutions using AI tools already at your disposal

• Focus on transforming chaos into clarity for decision-makers

• Develop expertise in AI-powered automation and predictive modeling

The Bottom Line

Companies are increasingly willing to invest heavily in AI-powered solutions while trimming human headcount. The key to survival isn't fighting this trend - it's positioning yourself as the person who can harness these tools to deliver unprecedented value.

Remember: Technology is efficient, but it needs skilled operators. Be the person who masters the technology, not the person replaced by it.

Action Steps

• Start experimenting with AI tools in your current workflows

• Identify manual processes that could benefit from automation

• Build expertise in predictive modeling and data analysis

• Focus on solving business problems, not just analyzing them

The future of FP&A belongs to those who can evolve from pure analysts into tech-savvy problem solvers. The tools are available - the question is, are you ready to use them?