Companies and individuals have shifted focus to cutting costs amid high interest rates and a tough economy, pressuring growth at the Photoshop software maker that has been investing in AI tools to attract more users. Adobe has incorporated AI features into its offerings such as document reader Acrobat, Photoshop and Premiere Pro. The company also faces competition from startups such as Stability AI and Midjourney, which offer AI services similar to Adobe such as generating images using text prompts.
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