Good articles to explain the differences and how to merge the S&C Sensitivity labels and AIP labels,

https://www.itpromentor.com/aip-vs-365-labels/

https://www.petri.com/unifying-office-365-sensitivity-labels

 

MS technet:

S&C labels: https://docs.microsoft.com/en-us/Office365/SecurityCompliance/sensitivity-labels

AIP labels: https://docs.microsoft.com/en-us/azure/information-protection/configure-policy-protection

 

 

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