Adobe launches its AI-powered text-to-video tool

Article Excerpt

OpenAI’s demonstration of its Sora AI-based video generation tools has spurred fears among investors that Adobe could be disrupted by the new technology and so lag behind. But Adobe has just released Firefly Video Model as a new entry in the field, and it is targeted at safe, commercial use. ADOBE INC., $502.54, is a #1 Power Buy for your 2024 investing. The company (Nasdaq symbol ADBE; TSINetwork Rating: Average) (www.adobe.com; Shares outstanding: 440.2 million; Market cap: $221.2 billion; No dividends paid) has now launched its Firefly Video Model. This program uses AI to generate videos from text prompts. Notably, this tool has two major competitive edges. First, facing much larger rivals, Adobe has focused on building models trained on data it has the rights for. That ensures output can be legally used in commercial work. As well, to satisfy its creative user base, Adobe has placed more emphasis on adding useful AI editing features. The Firefly Video app includes settings to toggle camera pans,…