Adobe on Tuesday added more artificial intelligence tools to its software for creative professionals, including generative AI for Photoshop, its market-leading software used for image editing. ADBE stock has gotten a modest lift lately from AI news.
The San Jose, Calif.-based company announced Generative Fill for Photoshop. The tool allows users to extend images and add and remove objects in photos using simple text prompts.
Generative Fill is based on Adobe's Firefly family of generative AI models, announced last month. The new feature automatically matches the perspective, lighting and style of images with its edits. Further, the tool acts as a "creative co-pilot" in Photoshop, the company said in a news release.
Adobe said Generative Fill is the start of a major initiative to integrate generative AI into existing design workflows across its Creative Cloud suite of software and services. In March, Adobe also added generative AI tools to its Experience Cloud, a customer experience management platform.
It's unclear whether this will help Adobe's Photoshop extend, or even preserve, its market lead.
ADBE Stock Ranks Third In Group
On the stock market today, ADBE stock dipped 0.4% to 370.42. Adobe is up 10.1% year to date through Tuesday's close. Uncertainty over its planned acquisition of Figma has dampened investor enthusiasm for Adobe shares. The U.S. Department of Justice reportedly plans to block the software giant's $20 billion acquisition of Figma.
Meanwhile, generative AI has been a hot topic this year. The technology can create content, including written articles, images, videos and music, from simple descriptive phrases. A host of generative AI software programs for images have hit the market including Midjourney, OpenAI's DALL-E and Stable Diffusion.
"By integrating Firefly directly into workflows as a creative co-pilot, Adobe is accelerating ideation, exploration and production for all of our customers," Ashley Still, senior vice president, Digital Media at Adobe, said in a written statement.
Firefly's first model is trained on Adobe Stock images, openly licensed content and other public-domain content without copyright restrictions. As such, Firefly generates images that are safe for commercial use, the company said.
Adobe ranks third out of six stocks in IBD's Computer Software-Desktop industry group, according to IBD Stock Checkup. Further, ADBE stock has an IBD Composite Rating of 95 out of 99.
IBD's Composite Rating combines five separate proprietary ratings into one easy-to-use rating. Also, the best growth stocks have a Composite Rating of 90 or better.
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