Microsoft is phoning home the content of your PowerPoint slides.
Make a new slide with a title of your choice. Choose “Designer.” Look at your network traffic as you do.
It makes sense: the tool is reading your text and suggesting designs/delivering stock photography. But this means that any data that you might want to keep private is being sent to Microsoft.
Yes, it makes sense that Microsoft needs your data to understand the content you are creating to suggest design and edits, and provide data insights.
However, this should be made clear to users so they get to make inform decisions on whether they are comfortable with this. I might be willing to allow PowerPoint to have the data, but how do I know what is being sent to the cloud? And why does it need to be sent to the cloud?