Tap Tap...Copilot


Jan 08, 2024


Cindy Grazer


Jan 08, 2024


Cindy Grazer


Microsoft announced the addition of a new AI Copilot button to the Windows keyboard, the first change to this keyboard since 1994. The button will sit right of the space bar, and the first devices with the new button will be available this month. The shortcut is designed to help users quickly access AI Copilot functionalities, and is testament to the company’s commitment to integrating AI into its core ecosystem of products.

The addition of the AI Copilot button marks a first step in “the year of the AI PC” (2024), where AI is brought to users not only via software and chatbots but exposed through hardware. As a launch key, the AI Copilot button is envisioned to be the entryway to AI services, which Microsoft has been building into some of its most popular products including Office, Bing search and Windows.

This news comes as Microsoft launched its Copilot app on Android and iOS over the holiday season, and has already seen 1.5m cumulative downloads globally, according to TechCrunch. With Copilot, access to GPT-4 is free, and the app’s image creation runs on DALL-E 3. Prior to this, Copilot had already been available on the web, but this push to mobile will help Microsoft reach a bigger audience with a potentially different use case.

As AI expands beyond PC software into hardware and mobile, its proliferation into consumers’ everyday life seems inevitable, and one could only guess at the number of times this AI Copilot button will get pressed every day. Before long, consumers may truly be just one tap away from their dreams.

Newsletter Image 1/8/24

Portfolio News

Building a better financial future: Plaid's 2023 snapshot - In 2023, over 500,000 new connections were made to apps on our network every day—that’s around six new connections every second. And because new connections lead to a safer, faster onboarding experience for your new and returning customers, you were able to grow your business more efficiently. Read more

Fintech’s next big move – how MoneyLion is leading the charge in embedded finance - MoneyLion formed Engine by MoneyLion in 2023, the company’s enterprise business, which ramped up to expand its marketplace services more broadly. Today, MoneyLion has created a holistic embedded finance model that seamlessly integrates with enterprise systems, allowing businesses to offer personalized banking, wealth management and lending services. Read more

CapIntel CEO James Rockwood and The Frontier of Finance podcast - The latest episode wraps up the year by exploring the business of women and wealth with Ingrid Macintosh and TD Asset Management. Read more

Outlook 2024: Greg Schvey - Axoni CEO Greg Schvey discusses his outlook for the coming year, highlighted by a continued move to the public cloud from financial service systems and a growing adoption of artificial intelligence for trading workflows. Read more

Plaid anticipates sea change in instant payments, emphasizes safety & biometrics - Mollie Curran, payments lead at Plaid, highlights a fundamental transition from the concept of instant payments being a futuristic idea to a reality where biometric authentication and real-time transactions become standard. Read more

Tap Tap...Copilot

Microsoft Copilot is now available on iOS and Android - Over the holiday season, Microsoft quietly launched its Copilot app on Android and iOS, along with iPadOS. The app gives users access to Copilot, formerly known as Bing Chat, which operates similarly to OpenAI’s ChatGPT. Read more

Microsoft Adds AI Key in First Change to PC Keyboard in Decades - Microsoft is adding a button to the Windows keyboard to activate its AI Copilot service, with the first devices to sport the new key available this month. Read more

Industry News

As CFOs prepare for an unpredictable 2024, here’s what tops their checklists - From managing talent and controlling costs to monitoring macroeconomic trends and forging new partnerships, corporate finance chiefs are girding for volatility and uncertainty ahead. Read more

Tax credits to Intuit better spent to fund a free alternative to TurboTax - Intuit Inc. is being questioned by US lawmakers who say federal tax credits the company received could have been better spent to build a free government alternative to Intuit’s popular online tax preparation software, TurboTax. Read more

What happened in M&A in 2023, and what’s ahead, in five charts - The past year was a downer for M&A, which plunged to the lowest level in a decade, but 2024 could be better following the Federal Reserve’s pivot toward potential interest-rate cuts in the year ahead. Read more

Journey from screen scraping to Open Banking more marathon than sprint - The Clearing House Association and the Bank Policy Institute have stated that a proposed open banking rule by the CFPB does not do enough to protect consumer financial data against screen scraping and the practice's security issues. Read more

The biggest of the big: AI startups raised huge — these were the largest deals of 2023 - The top 10 rounds alone add up to more than $16 billion. Microsoft led the biggest and co-led the second-biggest rounds. Nvidia co-led the second-largest round. Amazon the third. Google invested in another. Read more

Amazon crackdown on sellers spawns new legal industry - Merchants who have been suspended from selling goods on Amazon's marketplace are turning to a cottage industry of lawyers to regain access to their accounts and money, amid growing scrutiny of how the retailer treats independents. Read more

Fee war takes off in US spot bitcoin ETF applications - Fidelity has found a basement for spot bitcoin ETF fees, pricing its proposed fund at less than half most other would-be registrants. The firm's Wise Origin Bitcoin Fund will charge 0.39%, compared to 0.80% proposed by Ark and 21Shares as well as Valkyrie. Read more

Coinbase secures crypto license in France, pushing deeper in Europe amid rift with the SEC - France’s AMF watchdog gave Coinbase virtual asset service provider (VASP) approval, which is effectively a green light for the company to operate crypto services in the country. French President Emmanuel Macron is seeking to make the country a hub for technologies like AI and crypto, committing billions of euros in subsidies and state funding. Read more

Credit card spending piles up as savings dwindle - US consumers continue to burn through their pandemic savings and are taking on more debt as they face high prices on everything from food and housing to entertainment. Marianne Lake, co-chief executive of JPMorgan Chase's consumer bank, said that before the pandemic, the bank’s lowest-income clients had on average 12 days’ worth of cash on hand. Read more

Jane Street emerges as broker of choice for Bitcoin ETF issuers - Jane Street, the firm where FTX’s Sam Bankman-Fried learned how to trade, is so far the broker-dealer of choice for issuers of proposed exchange-traded funds that aim to invest directly in Bitcoin. Fidelity and WisdomTree named Jane Street Capital as their ‘authorized participant’. Read more

Select Financings

Addressable - Tel Aviv based web3 marketing and data analytics company raised $6.0m in new funding led by Bitkraft Ventures. Read more

Backer - San Francisco based consumer savings company raised $9.5m in Series A funding led by WndrCo. Read more

Crew - Utah based family-focused banking company raised $2.5m in pre Seed funding led by Kickstart Seed Fund. Read more

Devoted Health - Minnesota based medicare advantage insurtech company raised $175m in Series E funding led by Fearless Ventures. Read more

Escrowpay - India based digital escrow services company raised $6m in Series A funding led by Tano India Opportunities Fund. Read more

Fimple - London based core banking solutions company raised $5.5m in new funding led by Apy Ventures. Read more

Komunal - Indonesia based peer-to-peer lending platform raised $5.5m in new funding led by East Ventures. Read more

Revfin - India based electric vehicle lending company raised $14m in Series B funding led by Omidyar Network. Read more

Solva - Kazakhstan based SME working capital provider raised $20m in Seed funding led by Orascom and Zhang Capital Partners. Read more

Tameed - Saudi based crowdfunding platform raised $15m in Series A funding led by Al-Rumaih Group. Read more


FinTech Collective Newsletter

Curated News with Context

Delivered every Monday, the weekly newsletter, produced by our team, provides a tightly edited rundown of global fintech news, along with a bit of our original analysis.