Agent 365 – product or licence? Both, of course!  Firstly, it’s a control plane for AI Agents, helping businesses to deploy, organize, and govern AI Agents securely. It gives each AI Agent its own Microsoft Entra Agent ID for identity, lifecycle, and access management, and allows Agents to be observable and managed in the Microsoft 365 Admin Center. That’s where it’s currently in preview through the early-access Frontier program and, when you go to try it out, 25 Agent 365 licences are provisioned to your tenant for assignment to Agents. However, at General Availability of Agent 365 on 1 May, 2026 it’s a human user that’s licensed, for $15 per user per month. All Agents acting on behalf of a licensed user are covered, meaning that Agents won’t require their own Agent 365 or Microsoft 365 E7 licence.

Resources-wise, find an overview and interactive demo on the Agent 365 website: https://bit.ly/4rDQQJw, and the announcement here: https://bit.ly/4bLAHge.