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(Bloomberg) -- Adobe Inc. Chief Executive Officer Shantanu Narayen said the company’s new video-generating AI product will be priced differently than its other artificial intelligence tools. Most Read from Bloomberg Dubai’s Allure to Expats Is Weighing on City’s Infrastructure How Mexico City Averted All-Out Drought The Master Plan That Shaped Pakistan’s Capital Is No Longer Working As Brussels Booms, an Old Boogeyman Returns: Brusselization The Cablebus Transformed Commutes in Mexico City’s Populous Outskirts “The cost of producing video is clearly a little bit more expensive,” Narayen said Monday in an interview with Bloomberg Television from Adobe’s annual conference in Miami. “As the amount of video that is being generated is expanding, we will probably have different pricing models for that.” Earlier Monday, the software company unveiled AI tools that can create and modify videos. Over the last year, Adobe has focused on adding generative artificial intelligence features — the ability to produce text and images in response to users’ prompts — to its portfolio of software for creative professionals, including flagship products Photoshop and Illustrator.
Adobe isn’t yet charging for the use of its AI features beyond its standard subscription fees. Each user is allotted a number of credits for AI generations, but the limits aren’t being enforced for most plans, the company has said. With its AI for photo and illustrations, Adobe has said “we don’t want you to think about credits, we just want you to experience the magic,” Narayen explained. By contrast, he said, “video might be a little different.” The shares rose 2.9% to $509.84 at 12:20 p.m. in New York.
Adobe stock had declined 17% this year through Friday’s close on concerns that the company could be buffeted by competition among startups and Big Tech companies offering AI tools. --With assistance from Ed Ludlow and Caroline Hyde. Most Read from Bloomberg Businessweek Why OpenAI Is at War With an Obscure Idea Man How Airbnb Hosts and Frustrated Neighbors Can Find Common Ground Inside the Companies That Set Sports Gambling Odds Jamie Dimon for Treasury Secretary: The Idea That Never Fades Lina Khan Is Just Getting Started (She Hopes) ©2024 Bloomberg L.P. View comments
Adobe’s AI Video Tools Will Be Priced Differently, CEO Says
October 14, 2024 05:29 PM BST | By EODHD
