Software company Adobe (NASDAQ:ADBE) has enhanced its Acrobat products with new artificial intelligence features for reading documents. This tool allows for natural-language queries and document summarization. It also converts various formats to PDFs, facilitates data extraction, and generates summaries or tables, all accessible across platforms.
In a demo of the conversational search tool shown by the company, the AI assistant for Acrobat answered a query about annual growth rates based on data in an annual report by creating a table with growth rates from the annual report data, including links to sources. Users can copy the answers as text or tables into emails, presentations, or other documents.
Adobe’s AI Assistant will focus on content in single documents initially, with plans to expand the search to multiple documents at a later date. The AI Assistant will initially operate from the cloud using Microsoft (NASDAQ:MSFT) Azure’s OpenAI services but may transition to local devices in the future.
The new service will be launched in the beta form to Acrobat Standard as well as Pro individual and team subscription plans on desktop and web. It will be available at no additional cost during the beta period.
Is Adobe Stock a Buy or Sell?
Analysts remain cautiously optimistic about ADBE stock with a Moderate Buy consensus rating based on 24 Buys, four Holds, and two Sells. Over the past year, ADBE stock has surged by 50%, and the average ADBE price target of $653.43 implies an upside potential of 21.5% at current levels.
