Not a surprise, especially when Microsoft renames its tools. Power Automate, which was renamed as Microsoft Flows, will now be called Workflows. In fact, PowerAutomate and Workflows are merged into one app called Workflows. Noticed any difference? We didn’t either.
Please note the rename is occurring only inside the Teams, probably to address two different paths Power Automate and Workflows were having for similar or identical purpose notifications and other messages; and renaming is not for the standalone application.

Power Automate brings desktop and cloud automation with cloud flows and business process flows both in attended and unattended mode thereby providing digital process automation (DPA) to daily business activities.

Power Automate is one of the five services of Microsoft Power Platform. With a recent update, if your organization has AI enabled, then Power Automate also includes the new Copilot features.