The New Copilot: AI Shifts From Licenses to Meters

On Sept. 25, 2026, Microsoft announced the new M365 Copilot. More than the indicated UI consolidation, Microsoft shows the new Copilot’s intended role in its AI strategy: become the gateway for AI work across the enterprise and to monetize that work. However, since the new Copilot is still rolling out in stages, its strategic significance is clearer than the consequences for customers. (Functional details of the new Copilot are covered by the Directions blog post “Microsoft Shows Off Its New Copilot ‘Super App’.”)

For Microsoft’s strategy to work, customers must move more AI work into its platform. Microsoft is trying to make Copilot the focal point for creating AI apps, running agents, applying business context, enforcing governance, and managing cost by combining M365 Copilot, Copilot Studio, GitHub Copilot, Dynamics, Fabric, and Agent 365. If successful, AI work is created, executed, governed, and charged through Microsoft services, potentially increasing the risk of lock-in, unpredictable spend, and dependency on Microsoft governance.