Design software company Canva unveils AI tools to take on rivals like Adobe

The new suite, dubbed Magic Studio, marks the latest in a series of product launches in the past year, including enterprise-focused tools in September 2022 and AI software in March. — AP

Australian design software company Canva Inc unveiled a suite of artificial intelligence-powered tools to take on competitors including Adobe Inc.

One of its key distinctions is the ability to instantly convert designs from one format to another with a click, the company said. Users can, for instance, turn a presentation into a summary or create a blog post from notes jotted down during brainstorming, translating into various languages in the process. Canva’s tools can also turn text into photos and create videos from an image or text using Gen-2, a video-generation model by Runway AI Inc.