★ Must ReadAdobe Must Prove Its Creative Advantage Still Matters in the AI Era
Adobe faces a critical inflection point as AI-native competitors and lower-cost alternatives erode its traditional moat in creative software. The company's current pricing model and feature set—built for pre-AI workflows—increasingly appear misaligned with how creators now work, as tools like Figma, open-source alternatives, and specialized AI applications capture share in specific use cases. Adobe's response will determine whether it can leverage its massive installed base and cloud infrastructure to lead the AI transition, or whether it becomes a legacy platform squeezed between enterprise incumbents above and nimble AI startups below. The outcome matters because Adobe's trajectory signals how dominant software companies either reinvent defensibility around AI or surrender their markets to purpose-built replacements.