Adobe Max 2024 has seen a slew of big new improvements to the company’s software suite, and although content producers and video editors have benefited from a slew of AI tools for Photoshop, Premiere Pro, and other applications, there are developments for enterprise users.
Digital media software firm Adobe (ADBE) on Monday reported progressions in its products powered by generative AI, including tools for creating images, graphics, and videos. The news caused Adobe stock to rise.
At the Adobe Max conference in Miami Beach, Florida, the company revealed the general availability of Adobe GenStudio for Performance Marketing, a new tool based on generative AI.
GenStudio for Performance Marketing is the most recent enterprise application in Adobe GenStudio. The new tool enables brands and agencies to speed up the delivery of global advertising and marketing campaigns.
The GenStudio product family streamlines the process of planning, developing, maintaining, activating, and assessing content for marketing campaigns and personalized consumer experiences.
On the stock market today, Adobe stock increased 2.9%, closing at $509.65.
Adobe GenStudio for Performance Marketing will be accessible starting today, making it easier for marketing teams to collaborate on producing genAI assets and learning from AI-enhanced insights.
“With GenStudio for Performance Marketing, brands have a single, self-service application to create paid social ads, display ads, banners, marketing emails, and more by leveraging pre-approved, on-brand content,” the company said.
GenStudio, part of Adobe Experience Cloud, is an AI-first content marketing solution that allows you to produce and collaborate on marketing materials. The most recent addition to the space, GenStudio for Performance Marketing, allows users to work on a variety of assets and campaigns.
Finding the proper content is now easier thanks to the addition of a content library with pre-approved, on-brand assets, as well as the option of editing existing content or generating new, brand-appropriate, commercially safe media to help scale up content production. The application, of course, supports Firefly, as well as other AI tools and third-party LLMs for faster email and online ad production.
With data being the lifeblood of modern enterprises, GenStudio for Performance Marketing will allow users to monitor key performance metrics and insights, while AI can ‘read’ image and video elements to help understand and adapt future content that engages certain audiences.
Users may also expect future connections with Meta, TikTok, and Snap, as well as the Adobe Journey Optimizer, which will allow teams to publish directly on platforms using the social media marketing tool.
“Delivering impactful global campaigns hinges on the ability to bring marketing and creative teams closer together, with generative AI-powered workflows that eliminate cumbersome and inefficient processes,” said Varun Parmar, general manager for Adobe GenStudio.
“Adobe GenStudio for Performance Marketing enables creatives to focus on delivering deep creative designs that amplify a brand, while empowering their marketing counterparts to create the high volume of content variations that are needed to drive customer engagement, personalization, and conversion.”
In addition to the brand-new GenStudio for Performance Marketing, Adobe recently launched significant updates to Adobe Express aimed at improving marketing teams’ productivity. Some of the standout features include TikTok add-ons, cloud storage services such as Google Drive and OneDrive, and AI-generated music and script-to-video tools. Conversely, Express add-ons will be accessible in ChatGPT, HubSpot, Slack, and Box.
Adobe also announced new integrations with Alphabet’s (GOOGL) Google Campaign Manager 360, Meta Platforms (META), Microsoft Advertising, Snap (SNAP), and TikTok. Adobe said that brands will be able to execute campaigns quickly across platforms and make fast adjustments based on direct performance analytics.
At the Max conference, Adobe announced a collaboration with PepsiCo’s (PEP) brand Gatorade. The cooperation enables customers to create their own unique Gatorade Squeeze bottle using generative AI graphics and simple text prompts.
Adobe revealed on Friday how Mattel (MAT) uses Adobe Firefly generative AI to customize Barbie doll packaging.
At Max, Adobe will present the Adobe Firefly Video Model, extending their generative artificial intelligence models to incorporate video. The video model will be accessible in beta in Premiere Pro with Generative Extend, followed by a limited public beta at Firefly.Adobe.com with text-to-video and image-to-video features to gather first feedback on the model.
Adobe stock has underperformed this year, falling nearly 15% year to date.
Brent Bracelin, an analyst at Piper Sandler, believes Adobe has a strong risk-reward setup.
“Positive news flow on Adobe into year-end could help drive a narrative shift for a high-quality software laggard that is in the early innings of a new product cycle where AI could turn from a perceived headwind into a tailwind,” Bracelin said in a client note Thursday.
He ranks Adobe stock as overweight, or buy, with a target price of 635.
According to IBD Stock Checkup, Adobe’s stock is ranked third out of six in the Computer Software-Desktop industry group. It has an average IBD Composite Rating of 54 out of 99.
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