Despite its 40-year history and widespread use, Excel remains a staple in business for quick data analysis, but organizations are increasingly seeking to replace it with more secure, automated, and AI-integrated systems to improve data control and operational efficiency, though resistance due to familiarity and control issues persists.
Perplexity has launched Perplexity Labs, an AI-powered tool for subscribers that can generate reports, spreadsheets, dashboards, and more, expanding beyond its core search business and available across multiple platforms.
Microsoft has introduced "SpreadsheetLLM," an AI model designed to enhance the understanding and analysis of spreadsheet data by large language models (LLMs). This innovation aims to improve enterprise productivity by automating routine data tasks and providing intelligent insights, making spreadsheet data more accessible and understandable. The development is part of Microsoft's broader investment in AI technologies for the enterprise, including tools like Microsoft 365 Copilot and Copilot for Finance.
Sourcetable, a startup aiming to build "the world's best spreadsheet," has raised $3 million in seed funding to take on the spreadsheet challenge posed by Microsoft Excel and Google Sheets. The company plans to focus on improving integrations, templates, analysis, reporting, and collaboration features. Sourcetable aims to attract professionals in sales, accounting, finance, support, and HR who require access to and manipulation of significant data. The startup is currently in private beta and plans to launch publicly by the end of the year.