Adobe Inc. unveiled artificial intelligence tools that can create and modify videos, joining Big Tech companies and startups in trying to capitalize on demand for the emerging technology.

Adobe is joining several other players in the generative AI (GAI) space by rolling out its own model. The Firefly Video Model is powering a number of features across the company's wide array of apps.

Adobe Inc. Chief Executive Officer Shantanu Narayen said the company’s new video-generating AI product will be priced differently than its other artificial intelligence tools.

Adobe on Monday said it has started publicly distributing an AI model that can generate video from text prompts, joining the growing field of companies trying to upend film and television production using generative artificial intelligence.

New beta tools allow users to generate videos from images and prompts, and extend existing clips in Premiere Pro.

Creative software maker Adobe ($ADBE) is launching a new artificial intelligence (AI) tool that’s capable of generating videos from text prompts