Information Labels/Classification or IRM?

[Jordan Moore]

I'm looking into options for handling sensitive information contained in emails..

Is there overlap between O365 Security & Compliance > Classifications > Labels/Policies.. and IRM for Exchange?

[#2]

Yes, the two functionalities will be converging soon: https://techcommunity.microsoft.com/t5/Security-Privacy-and-Compliance/Consistent-labeling-and-prote...

[#3]

We utilize Azure as well, and it has Azure Information Protection with labeling and stuff too. Which do we use?

[#4]

IRM is based on Azure Information Protection (or it's sibling, Azure RMS). In general, which feature you should use depends on the scenario, but the unified DLP/retention experience in the SCC can/should be used instead of the Exchange-specific alternatives. And the SCC will soon offer the "protect" experience which you get as part of AIP.