Adobe has revealed its main achievements in its AI business (artificial intelligence) and client wins during the third quarter of fiscal-year 2024.
Adobe has reported 11 percent rise in revenue to $5.41 billion in its third quarter thanks to demand for Creative Cloud, Document Cloud and Experience Cloud. Adobe is aiming for sales of $5.5 billion – $5.55 billion in Q4.
Adobe’ AI
Adobe has released Firefly models for Imaging, Vector and Design and previewed a new Firefly Video model.
Firefly-powered features in Adobe Photoshop, Illustrator, Lightroom and Premiere Pro help creators expand their natural creativity and accelerate productivity.
Adobe Express application unlocks creative expression for users. Acrobat AI Assistant helps extract value from PDF documents. Adobe Experience Platform AI Assistant assists brands to automate workflows and generate new audiences.
Adobe GenStudio brings content and data, integrating creative expression to deliver personalization at scale.
Adobe has surpassed 12 billion Firefly-powered generations across Adobe tools.
AI Assistant across Adobe Acrobat and Reader has assisted customers to generate more value from these documents. Interactions of AI Assistant across Adobe Acrobat and Reader rose 70 percent quarter-over-quarter.
Adobe has integrated Adobe Firefly image generation into Edit PDF workflows. Adobe has optimized AI Assistant in Acrobat to generate content fit for presentations, emails and other forms of communication.
India-based IT services company Tata Consultancy Services (TCS) recently used Adobe Premiere Pro to transcribe hours of conference videos and then used AI Assistant in Acrobat to create digestible event summaries in minutes. This allowed Mumbai-based TCS to distribute newsletters on session content to attendees in real time.
Adobe aims to promote subscription plans for generative AI capabilities. Adobe expects that there will be demand for generative AI from customers to add value to content creation and consumption in Acrobat and Reader.
Adobe has also expanded Acrobat value with multi-document support for AI Assistant, enhanced meeting transcript capabilities and support for larger documents.
PDF-based collaboration grew more than 70 percent year-over-year. Acrobat Web monthly active users grew 35 percent year-over-year as a result of link sharing and Microsoft Edge and Google Chrome extensions.
Key enterprise customer wins for Document Cloud include Amazon, Charles Schwab, Disney, Home Depot, KPMG, RedBull, Sutter Health and the U.S. Treasury Department.
Adobe Express is its AI-first content creation application. Its recent product releases include Express for individuals, Express for Education, Express for Teams and Express for Enterprises. Adobe Express grew 70 percent year-over-year in cumulative exports. Adobe Express has over 1,500 businesses and millions of students.
Key enterprise customer wins for Creative Cloud include The Brandtech Group, Dentsu, Estée Lauder, Google, MediaMonks, Meta, MLB, Newell Brands, PepsiCo, Stagwell Group and the U.S. Navy.
Key customer wins for Adobe Experience Platform include Dentsu, Home Depot, Humana, IBM, Johnson & Johnson, Mayo Clinic, Newell Brands, Premier League, Stagwell Group, TD Bank and UPS.
Baburajan Kizhakedath
