Adobe Launches AI Tools Suite for Businesses as Competition Intensifies
Adobe launched a suite of artificial intelligence (AI) tools on Monday to help businesses automate and personalize digital marketing functions, in an effort to counter competition from standalone AI tools offered by emerging AI companies like Anthropic.
A sell-off in software stocks, triggered by the rise of AI tools capable of automating an increasing number of human tasks, is putting pressure on companies like Adobe and its peers, as investors assess the threat posed by tools from Anthropic and OpenAI.
Adobe shares rose 2.2% in morning trading on Monday. By the last market close, the stock was down about 30% since the beginning of the year, according to Reuters.
Adobe said the new suite of tools, called CX Enterprise, uses AI agents to help businesses manage their interactions with customers.
The design software company is collaborating with several technology companies, including Amazon, Microsoft, Anthropic, OpenAI, and Nvidia, to ensure its new AI system works across different platforms. This comes as Anthropic unveiled on Friday "Cloud Design," an experimental feature that allows users to create visual elements such as prototypes, presentations, and one-page documents using its chatbot.