As The AI Arms Race Wages On, Amazon Takes Shot At Rival Adobe With New Text-To-Video Product

Large tech companies are racing to launch new artificial intelligence products and services to capture market share. Most recently, Amazon.com Inc AMZN announced its beta software of a new video-generating tool powered by AI in a blog post on Thursday.

The product allows advertisers to create videos for customers through Amazon's AI software. Amazon's new offering could rival Adobe Inc's ADBE text-to-video service, Firefly, which is set to launch in beta at some point this year, according to The Verge. Amazon's new video generator will be available in beta to select advertisers.



Companies will be able to use Amazon's AI systems to create videos to advertise their products at no additional cost. Read Also: Amazon Ends Remote Work, Former Employee Asks If This Is The Company’s Version Of ‘Silent Sacking’ "Video generator is another meaningful innovation that leverages generative AI to inspire creativity and deliver more value for both advertisers and shoppers," Amazon Ads vice president of product and technology Jay Richman said. Amazon and Adobe are not alone in the AI-powered video generator space.

Other companies, like OpenAI, have also teased technology allowing users to create videos through simple text prompts such as "dog running through a field." What Is Amazon Ads? Amazon Ads is the company's advertising arm, offering various marketing strategies and solutions to companies of all sizes. According to its website, companies can launch an advertising campaign through Amazon Ads in five minutes or less.

Read Next: Jim Cramer Rebukes Analysts For Harsh Stance On Adobe Despite Strong Q3 Earnings Report — Asks For Balanced Perspective Between ‘Total Euphoria And Total Skepticism’ Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice.

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