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Each day, we’re introduced to new artificial intelligence tools, including AI tools for Excel. However, with all of these new additions, it’s hard to keep up with what separates the best from the rest. This guide will do that for you.
Here, we’re going over eight of the best AI tools for Excel, with a focus on finance teams and how these options help with tasks like data visualization, financial analysis, formula generation, and much more.
AI Tools for Excel: An Introduction
Let’s begin with a quick recap of how far AI has come.
AI tools in Excel have moved far beyond basic automation. They provide targeted solutions for tasks like budgeting, forecasting, and trend analysis, ensuring processes are both streamlined and accurate.
This technology helps finance teams allocate their time more effectively, allowing them to focus on strategic goals rather than manual tasks.
Particularly when it comes to Excel, AI has transformed the way users approach complex spreadsheet tasks.
With the aid of AI-powered technologies, finance teams can automate tasks, generate complex formulas, and improve their financial analysis and data visualization workflows.
With many people now more confident in their use of artificial intelligence, they’re on the hunt for the most potent tools to maximize AI’s power.
8 Top AI Tools for Excel
Below, we’ll tell you about eight of these tools and why they made the list.
1) Datarails
Datarails is an FP&A software known for redefining how finance teams use Excel. FinanceOS by Datarails lets you keep working within your familiar Excel environment without sacrificing any functionality.
Built specifically to address the unique challenges faced by financial professionals, Datrarails enriches Excel’s functionality with advanced automation and analytics features.
For example, teams can consolidate data from multiple sources, automate repetitive workflows, and design sophisticated financial models tailored to their needs.
One of its standout features is the ability to centralize formulas, making them more consistent and accurate all at once.
For tasks like budgeting, forecasting, and compliance, Datarails provides an intuitive interface that integrates effortlessly with Excel, allowing users to maintain familiarity with the platform while accessing cutting-edge features.
The platform’s customizable dashboards and robust analytics capabilities make it an indispensable tool for finance teams aiming to streamline operations and drive strategic decisions.
Along with Datarails for Excel, users can choose from a number of other FP&A tools and features, including:
- Financial reporting
- Scenario analysis
- Real time Connectivity
- Cash management
Datarails also offers FP&A Genius, the world’s first complete generative AI assistant for FP&A.
With it, you can solve problems and complete tasks like:
Management self service
Imagine your CEO wants to know how a 10% revenue increase next year might reshape business outcomes.
Now, they can access accurate answers for any figure presented in a preferred visual format—instantly and without waiting on the finance team to compile a report.
This transformation is powered by AI-driven tools in Excel, which provide executives with quick access to actionable data insights, freeing financial teams to focus on high-level analysis and strategy.
Fast finance requests
Imagine no longer having to stay late or sacrifice personal plans to handle last-minute funding requests. With AI tools for Excel, those urgent modifications for tomorrow’s board meeting can be completed in seconds.
In just 60 seconds, you can update financial projections or reports, leaving more time to focus on what truly matters!
Storyboards
While finance teams often struggle to make an impact with the story that their data tells, Storyboards by Datarails can do this for them in just two clicks and a matter of seconds. This AI storytelling creator quickly converts financial data into compelling and actionable insights.
Why It Makes the List
Datarails is a standout AI tool for Excel because it merges automation, analytics, and storytelling into one cohesive solution. Finance teams rely on it to save time on repetitive processes, improve data accuracy, and deliver insights that are easy to interpret.
With a wide array of features and strong Excel integration, Datarails lets finance pros return their focus strictly to analysis and strategy.
2) Formulas HQ
Although it’s known primarily as a formula generator, Formulas HQ has expanded its features to offer much more.
Along with its AI-powered Excel formula generator, users can also trust Formulas for help with generating formulas for:
- Python
- Google Sheets
- Regular Expressions
It also supports multiple languages and integrates with ChatGPT, where finance teams can choose from numerous prompts or create their own.
Why It Makes the List
Formulas HQ earns its spot as one of the best AI tools for Excel because of its ability to simplify formula generation while supporting multiple platforms and programming languages.
This tool offers a flexible and practical solution for finance teams juggling a range of spreadsheet needs.
3) Numerous.ai
Numerous.ai is a user-friendly tool that lets users employ ChatGPT within Google Sheets and Excel.
Although not specifically marketing to finance teams, there are many prompt structures and prototype AI features these teams will find valuable.
Among its standout features are:
- It does not require API keys
- It can write content based on any input
- Allows you to use ChatGPT inside your cells with =AI
- Automated data sorting
- Content generation
Why It Makes the List
Numerous.ai stands out for its straightforward setup and functionality. Its ability to integrate AI-powered prompts into spreadsheets allows teams to experiment, create, and organize with minimal technical barriers.
Finance teams can benefit from its flexibility, whether managing datasets or testing AI features in a collaborative environment.
4) Excelly-AI
Excelly-AI supports Excel, VBA, and Google Sheets, allowing users to upload *.xlsx files and generate formulas with the data in those files. The tool can also explain these formulas for you, no matter how complex they may be.
One of Excelly-AI’s unique features is its Slack integration. This allows you to enable the tool for your entire team.
Why It Makes the List
Excelly-AI is a cost-effective solution. It provides five free formulas per month if you register for the product, and paid plans range from $4.99 to $9.99 per month.
5) Formula Dog
Formula Dog helps users turn problems into formulas and formulas into explanations.
It allows you to convert English text or code into a variety of formats, including:
- Excel/Google Sheet/Airtable
- Regex
- VBA Code
- SQL New
The platform offers monthly, annual, or one-time pricing, depending on your needs. Monthly plans allow for up to 1000 monthly requests for ₹149/month ($2). The annual plan offers the same for ₹1,499 ($17) per year, and the one-time plan is ₹1,999 ($23).
Why It Makes the List
Formula Dog is a handy tool for those who frequently work with formulas or need assistance translating text into functional code.
Its wide range of supported formats and affordable pricing make it a valuable resource for finance teams trying to streamline workflows and enhance spreadsheet accuracy.
6) PromptLoop
PromptLoop is particularly useful for teams with large-scale data tasks to complete. It claims to help users scrape 10 times more data in 10% of the time, and onboarding takes less than an hour.
Users have access to functions in Excel and on uploaded datasets that let them automate web research and analysis. Along with Excel, it also integrates with HubSpot, Salesforce, and other CRMs and data sources.
Why It Makes the List
PromptLoop earned its spot on this list of AI tools for Excel thanks to its ability to process extensive datasets and integrate AI workflows directly into spreadsheets.
Its flexibility and customizability make it a suitable choice for finance teams managing lead sourcing, market research, or custom dataset creation.
7) Julius
One of its claims to fame is that Julius can turn “hours of Excel into minutes.” It does this by allowing users to create sleek visualizations, automate data preparation, and perform advanced modeling and predictive forecasting, among other tools.
Julius also allows users to communicate with the files they upload by asking questions and quickly receiving expert-level AI answers.
Another interesting feature is its ability to create dynamic GIFs based on your uploaded data. Other visualization capabilities include creating charts and tables with the help of AI.
Users can send 15 monthly messages for free or upgrade to a paid plan for more.
Why It Makes the List
Julius is a comprehensive solution that supports any data file format, including spreadsheets (.xls, .xlsx, .csv), Google Sheets, images (.jpeg, .png), PDFs, and text-based files (.docx, .txt).
8) AI Excel Bot
This tool is particularly useful for newer users of Excel or Google Sheets who want a straightforward and user-friendly AI tool. It only requires simple text instructions to create complex formulas or use artificial intelligence to explain these formulas in plain terms.
Along with Excel and Google Sheets, AI Excel Bot also offers VBA Code Support, a Chrome add-on, and reasonable pricing.
Why It Makes the List
AI ExcelBot stands out as a convenient solution for finance professionals who need quick formula assistance without advanced programming knowledge.
