/Adobe%20Inc%20logo%20on%20phone%20with%20festive%20background-by%20rafapress%20via%20Shutterstock.jpg)
Adobe (ADBE) has long been a trailblazer in the software industry, revolutionizing creative workflows with its cutting-edge design tools and setting the standard by pioneering the subscription model in 2012, well before it became an industry norm. But in 2024, the company’s dominance is being put to the test as a tidal wave of generative artificial intelligence (AI) competition shakes up the industry. Once the undisputed leader, Adobe now faces pressure to defend its crown.
The company has rolled out a suite of AI-driven tools under its Firefly brand, offering generative capabilities, including for images, text effects, and video. Tech giants like Google (GOOGL) and startups such as Stability AI, Midjourney, and Runway are also establishing their lead in this space.