"Show Convert to Data Types when typing" function doesn't work

I was playing with Excel Options and there was one checkbox in Options - General - User Interface Options - "Show Convert to Data Types when typing".

I enabled it and tried to test this by typing some data in cells, but for some reason Excel doesn't offer suggestions on data types to convert to.

These are the entries I tried in the cells -

• "Brazil"
• "MSFT"
• "Tokyo"

Is there something else I need to switch on to make this work? Thanks in advance.