Adobe Puts Greater Power & Possibility in Hands of Creators, Teams & Marketers at Adobe MAX 2024

Rhea-AI Summary

Adobe unveiled over 100 new Creative Cloud features at Adobe MAX 2024, including AI-powered capabilities using Adobe Firefly. Key announcements include:

1. Firefly Video Model (beta) for generating and editing video content
2. Improved Firefly Image 3 Model with 4x faster image generation
3. Enhanced Firefly Vector Model (beta) for Adobe Illustrator
4. New features in Photoshop, Illustrator, and Frame.io
5. GenStudio for Performance Marketing now generally available

Adobe also committed to helping 30 million learners develop AI literacy and content creation skills, and donated $1M to support Florida hurricane recovery efforts.

Positive

• Introduction of over 100 new Creative Cloud features
• Launch of Firefly Video Model (beta) for video generation and editing
• Firefly Image 3 Model now generates images four times faster
• Firefly has been used to generate more than 13 billion images
• General availability of GenStudio for Performance Marketing
• Expanded partnerships with Google, Meta, Microsoft, Snap, and TikTok for campaign activation
• $100M commitment to enable creativity through donations, scholarships, and partnerships

Negative

• None.

Insights

Technology Analyst

Adobe's MAX 2024 conference unveils significant updates across its Creative Cloud suite, emphasizing AI integration and content creation at scale. The introduction of over 100 new features, including the Firefly Video Model and enhancements to existing tools, demonstrates Adobe's commitment to innovation. The expansion of GenStudio for Performance Marketing and improvements to Adobe Express highlight the company's focus on enterprise solutions and streamlined workflows. While these developments are impressive, their immediate impact on Adobe's financial performance may be The long-term potential for increased user adoption and enterprise integration is promising, but it's important to monitor how these features translate into revenue growth and market share gains in the competitive creative software landscape.

Financial Analyst

Adobe's announcements at MAX 2024 showcase its strategic focus on AI-driven innovation and enterprise solutions. The expansion of Firefly and GenStudio could potentially drive increased adoption of Adobe's products, particularly in the enterprise segment. However, the financial impact of these developments may take time to materialize. With a market cap of $219.47 billion, Adobe's stock performance will likely depend on how effectively these new features translate into revenue growth and market share gains. Investors should closely monitor upcoming quarterly reports for indicators of increased subscription revenue and enterprise adoption rates. While the innovations are promising, their immediate effect on Adobe's financials may be , making this news more of a long-term strategic indicator rather than a short-term market mover.

• Over 100 new Creative Cloud features empower creative professionals with more speed, precision and control and power even more of the creative process, with powerful new innovations across Photoshop, Illustrator, Premiere Pro, InDesign, Lightroom, Adobe Express and an all-new Frame.io
• Adobe’s Firefly family of creative generative AI models, designed to be commercially safe, expands to video and delivers breakthroughs in imaging, vectors and design
• GenStudio for Performance Marketing, now generally available, is the latest enterprise application within Adobe GenStudio, Adobe’s end-to-end content supply chain solution

MIAMI BEACH, Fla.--(BUSINESS WIRE)-- Today, Adobe (Nasdaq:ADBE) brought together the global creative community for the kickoff of Adobe MAX 2024 – the world’s largest creativity conference – where it introduced over one hundred new Creative Cloud features, including groundbreaking capabilities powered by Adobe Firefly that offer creators unprecedented power to create, collaborate and conceptualize ideas while empowering them to work more productively. Major updates to Adobe Express and an all-new Frame.io deliver new workflows to streamline collaboration for creative teams and their stakeholders. Adobe announced a new Firefly Video Model (beta) and breakthroughs in its Firefly Image, Vector and Design models, delivering significant enhancements to its family of generative AI models that are designed to be commercially safe.

For enterprises, Adobe announced the general availability of GenStudio for Performance Marketing, the latest application within Adobe GenStudio, an end-to-end content supply chain solution that optimizes the process of planning, creating, managing, activating and measuring content for marketing campaigns and personalized customer experiences.

“We’re giving the creative community a powerful new brush to paint the world by putting unprecedented power, precision and creative control in their hands,” said David Wadhwani, president, digital media at Adobe. “With the demand for content projected to grow exponentially, we’re empowering creators to scale the use of their content across marketing, HR and sales teams.”

Creative Power and Expressiveness

• Adobe Firefly: Adobe extended its family of generative AI models with the introduction of Firefly Video Model (beta), which enables creators to generate video from text and image prompts, extend video clips and smooth out transitions including deep integration into Premiere Pro. Adobe also announced the latest evolution of Firefly Image 3 Model which generates images four times faster. The latest breakthroughs in the Adobe Firefly Vector Model (beta) provide more creative control to designers using Adobe Illustrator. Enhancements to Firefly Services and Custom Models for enterprise customers are being leveraged by leading global brands like Deloitte, Gatorade, IBM, IPG Health and Mattel to speed up and scale content production for a variety of marketing use cases. Firefly, which is designed to be safe for commercial use, has now been used to generate more than 13 billion images.
• Photoshop: Adobe announced several new capabilities to empower the creative community to bring their visions to life with more power, speed and control including new Distraction Removal smart technology to help remove people, wires, poles and other distractions from images; Generative Workspace (beta) that helps designers ideate, brainstorm, and iterate concepts simultaneously; a new Substance 3D Viewer (beta) that offers new ways for graphic designers to view and edit 3D objects while working with 2D designs in Photoshop; and the general availability of features like Generative Fill, Generative Expand, Generate Similar and Generate Background powered by Firefly’s Image 3 Model.
• Illustrator: Adobe’s new capabilities for designers include Objects on Path to empower users to quickly attach, arrange and move an object along any path of their art board, Enhanced Image Trace to make it easier and faster to convert images to vectors and Generative Shape Fill (beta), powered by the Firefly Vector Model, which empowers designers to save time while quickly adding detailed vectors to shapes to create unique designs. Adobe also announced a beta of Project Neo, a web app first previewed at MAX last year that has been incredibly well received by the community and helps designers seamlessly create and edit 3D designs.

Content Creation at Scale

• Frame.io: Adobe announced the general availability of an all-new version of Frame.io which builds on its industry-leading video post-production capabilities and expands to support collaboration in audio, photo, design and other creative workflows. The new version adds Canon, Nikon and Leica to Frame.io’s Camera to Cloud ecosystem – the fastest, easiest and most secure way to get media from the set to the people who need to work with it.
• Express: Adobe also announced new enterprise capabilities to supercharge employees with AI, enable every team with access to approved assets and enable businesses to protect their brand. At MAX, Adobe showcased these features and demonstrated how Express helps creative professionals extend the power of apps like Photoshop and Illustrator. It further demonstrated how Express makes it seamless for creative teams to take the content they’ve created and enable marketing, sales, HR, communications and other teams to do more with it.
• GenStudio: Adobe announced the general availability of Adobe GenStudio for Performance Marketing, the latest enterprise application within Adobe GenStudio. GenStudio is Adobe’s end-to-end content supply chain solution that brings together an integrated set of Creative Cloud and Experience Cloud applications, empowering brands to optimize their content supply chains and meet the rising consumer demand for personalized content. GenStudio for Performance Marketing is a self-service, generative AI-first application that will empower brands to get the most out of the content created by their creative teams when assembling paid social ads, marketing emails and display ads at scale, with greater agility and the benefit of data-driven insights. It brings together creative teams – who define the foundational look and feel of a brand – with marketing teams, who need to deliver variations at scale for demanding channels such as social media and mobile. Expanded partnerships with Google’s Campaign Manager 360, Meta, Microsoft Advertising, Snap and TikTok will soon enable brands to activate campaigns instantly across platforms and make timely adjustments via direct performance insights.

Creative Exploration and Ideation

Adobe showcased new ways for creators to ideate and explore concepts and ideas, combining the power of AI with the power of their imagination. This included previewing Project Concept, a new capability for multiplayer, collaborative creative concept development, bringing the ability to remix images in real time so creative professionals can concept live in a single canvas. Additionally, Photoshop’s Generative Workspace (beta) helps designers ideate, brainstorm and iterate concepts simultaneously, so creators can achieve their vision and produce stunning visuals faster and more intuitively than ever before.

Empowering the Next Generation

In addition to introducing new product features, Adobe announced a new global initiative aimed at helping 30 million next-generation learners and teachers develop AI literacy, content creation and digital marketing skills using Adobe Express to thrive in the modern workforce. We’re expanding Adobe Digital Academy and working with education partners and nonprofits to provide training, certifications and career pathways. Adobe has committed more than $100M this year through donations, scholarships, product access and partnerships to enable people and organizations around the world to tell their stories and unleash creativity for all.

Adobe & Adobe Foundation commit $1M in support of local communities at Adobe MAX

The Adobe Foundation has donated $1M to the American Red Cross and World Central Kitchen to support the people of Florida who are recovering from Hurricanes Helene and Milton. Adobe is matching the donations of Adobe MAX attendees, sponsors and employees in support of the recovery efforts. The Adobe Foundation has also made a grant to The Miami Foundation to advance the vibrant creative community in Miami and support underrepresented creative communities in the area.

Investor Q&A

Adobe will also host a meeting with financial analysts and investors on Monday, October 14 at 2 p.m. ET at Adobe MAX. Adobe’s executives will provide a brief presentation of the company’s innovation and business highlights and participate in Q&A. Tune in live at adobe.com/investor-relations. Following the event, a replay and related materials will be available on the Adobe Investor Relations site.

Forward-Looking Statements

This press release contains “forward-looking statements”, including those related to Adobe’s new, enhanced or future product capabilities, innovations and offerings and the expected benefits to Adobe, all of which involve risks and uncertainties that could cause actual results to differ materially and adversely from these forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to: failure to innovate effectively and meet customer needs; issues relating to development and use of AI; failure to realize the anticipated benefits of investments or acquisitions; failure to compete effectively; damage to our reputation or brands; service interruptions or failures in information technology systems by us or third parties; security incidents; security incidents; failure to effectively develop, manage and maintain critical third-party business relationships; risks associated with being a multinational corporation and adverse macroeconomic conditions; failure to recruit and retain key personnel; complex sales cycles; changes in, and compliance with, global laws and regulations, including those related to information security and privacy; failure to protect our intellectual property; litigation, regulatory inquiries and intellectual property infringement claims; changes in tax regulations; complex government procurement processes; risks related to fluctuations in or the timing of revenue recognition from our subscription offerings; fluctuations in foreign currency exchange rates; impairment charges; our existing and future debt obligations; catastrophic events; and fluctuations in our stock price. For a discussion of these and other risks and uncertainties, please refer to Adobe’s most recently filed Annual Report on Form 10-K and Adobe’s most recently filed Quarterly Reports on Form 10-Q. Adobe undertakes no obligation, and does not intend, to update the forward-looking statements, except as required by law.

About Adobe

Adobe is changing the world through digital experiences. For more information, visit www.adobe.com.

© 2024 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241014283216/en/

PR Contact

Hilary McQuaide

Adobe

hmcquaide@adobe.com

Source: Adobe

FAQ

What new AI features did Adobe announce at MAX 2024 for ADBE stock?

Adobe announced the Firefly Video Model (beta) for video generation, improved Firefly Image 3 Model with 4x faster image generation, and enhanced Firefly Vector Model (beta) for Illustrator. These AI features are part of over 100 new Creative Cloud capabilities introduced at MAX 2024.

How many images have been generated using Adobe Firefly as of MAX 2024?

According to the press release, Adobe Firefly has been used to generate more than 13 billion images as of Adobe MAX 2024.

What is GenStudio for Performance Marketing and how does it affect ADBE?

GenStudio for Performance Marketing is now generally available as part of Adobe GenStudio. It's an AI-powered application that helps brands optimize their content supply chains and create personalized content at scale, potentially boosting Adobe's enterprise offerings and revenue.

What educational initiative did Adobe announce at MAX 2024?

Adobe announced a global initiative aimed at helping 30 million next-generation learners and teachers develop AI literacy, content creation, and digital marketing skills using Adobe Express, supported by over $100M in donations, scholarships, and partnerships.