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In this Excel tips video, Sumit Bansal demonstrates simple ways to combine first and last names in Excel using four easy methods. He shows how to use the CONCAT function to concatenate text strings, including a space character between the first and last names. He also mentions the CONCATENATE function, which may be retired in the future, suggesting to use CONCAT instead. By following his instructions, users can easily merge first and last names to create a full name in Excel.