I and many others think that Microsoft Loop is the future of document creation and collaboration. Here's why:
When Microsoft Loop was launched in December 2021, ClearPeople CEO Gabriel Karawani posted a comprehensive blog about what Microsoft Loop is and its components. If you'd like an introduction to MS Loop, I advise you to look at that.
Here's a scenario we can all imagine: you're in MS Teams, and you have a team chat going on. You want to work in a table so you can capture area sales data (for example). How do you do this?
Currently you can create an Excel worksheet and save that in the Files tab of Teams. But that means leaving the chat or swapping to Excel which breaks up the flow of the chat. Loop components allow you to insert a table (and bulleted list, checklist, numbered list, paragraph and task list) directly into the chat. The great thing about this is that everyone in the chat can edit the table without having to share it separately.