Excel AI FORMULA To Save You Hours of Work (NEW)

Summary

Excel's new AI feature, LABS.GENERATIVEAI, allows users to run OpenAI-powered prompts directly within formulas. Available in Excel 2021 or later and Microsoft 365, this function can fetch data, generate content, explain formulas, and even perform sentiment analysis. The tutorial shows practical uses such as retrieving airport codes, creating state lists, generating product descriptions, and analyzing user comments. The setup involves installing the Excel Labs Add-in, configuring an OpenAI API key, and adjusting settings like model and output length. This tool streamlines workflows and brings AI capabilities directly to Excel users.

Takeaways

• 😀 LABS.GENERATIVEAI in Excel enables users to integrate AI directly into formulas, utilizing OpenAI's technology.
• 😀 This function is available in Excel 2021 or later, as well as Microsoft 365 users, and can reference worksheet cells.
• 😀 Users can generate specific outputs like airport codes by writing clear and concise prompts in a formula.
• 😀 The function can be used to return lists, such as U.S. states with abbreviations, and can be paired with TEXTSPLIT and TRANSPOSE to format the output.
• 😀 You can generate product descriptions and specifications by referencing product names and using LABS.GENERATIVEAI for automated content creation.
• 😀 LABS.GENERATIVEAI can perform sentiment analysis on text, classifying comments as positive, negative, or neutral.
• 😀 When dealing with complex Excel formulas, LABS.GENERATIVEAI can explain their logic, making it easier for users to understand inherited or unfamiliar formulas.
• 😀 To use LABS.GENERATIVEAI, you need to add the Excel Labs Add-in, register for an OpenAI account, and configure an API key.
• 😀 If you encounter a #BUSY! or #N/A error, it could be due to exceeding daily token limits or an expired OpenAI account credit.
• 😀 LABS.GENERATIVEAI is a volatile function, meaning it recalculates whenever other formulas or structural changes occur in the workbook, but you can avoid this by pasting outputs as values or using manual calculation mode.

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