Microsoft has reported an incredibly successful quarter for Q4 2023, surprising absolutely no one given its rapid and effective rollout of generative AI technology to its many platforms.
It's no secret that Microsoft has been a powerhouse for business software over the last few years. From Office and Outlook to Dynamics and Azure, the Seattle-based tech giant just has its finger on the pulse when it comes to getting work done.
But now, with the improvements from ChatGPT, the company is soaring and its latest quarterly report points to that success in a big way.
Microsoft Posts Banner Q4 2023
Microsoft has released its Q4 2023 report, and let's just say it might even make founder and former CEO Bill Gates blush at all those zeroes.
Microsoft posted a net income of $20.1 billion, which represents a 20% increase year-over-year. On top of that, overall revenue came in at $56.2 billion, an 8% increase in the same period.
Friendly reminder that this is just for Q4 2023 and doesn't even account for the whole year. On the year, Microsoft's numbers are also quite impressive, with net income at $72.4 billion and revenues at $211.9 billion, representing 11% and 7% increases, respectively.
All that to say, Microsoft is seriously on the rise right now, and we all know why.
Why Is Microsoft Doing So Well?
Unless you've been living under a rock for a few months, you've likely heard of ChatGPT, the generative AI platform that is popping up workplaces around the world for its impressive productivity-improving functionality.
Well, while that platform was created by OpenAI, the company is partnered with Microsoft, who has rolled out the groundbreaking technology to a wide range of platforms to make work easier for employees and business owners alike. And there's no denying that the demand for this kind of tech has been high so far.
“Organizations are asking not only how—but how fast—they can apply this next generation of AI to address the biggest opportunities and challenges they face—safely and responsibly. We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage.” – Satya Nadella, CEO of Microsoft in the press release.
All in all, it's safe to assume that Microsoft's banner year is largely due to it taking the lead in the AI race that has the tech industry in its firm grip.
How to Use AI at Your Business
Reporting a quarter as good as Microsoft's is an obviously unachievable goal for the majority of businesses. After all, there are only so many billions of dollars to go around. Still, there are ways that your business can utilize AI and its growing number of platforms to improve productivity.
For starters, check out our in-depth guide to Bard vs ChatGPT, so you can see if either is a good fit for your business. Once you've picked a platform, you can use it for any number of purposes, from writing emails and creating campaigns to developing content and responding to customer requests.
The rise of AI technology is projected to substantially impact the way we do business, which is why you'll want to be sure you don't get left behind. And with Microsoft offering the tech in virtually every platform in owns, it's now easier to get on board than ever.