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Tesla, under the leadership of CEO Elon Musk, is transitioning from being solely an electric car manufacturer to a diversified tech titan. The company’s focus on machine learning, robotics, and self-driving vehicles is expected to generate between $300 billion and $400 billion in revenue by 2035. Tesla’s recent introduction of its Version 12 (V12) self-driving software could provide it with a competitive advantage by collecting extensive user data to advance computer vision.
Despite industry setbacks such as the closure of Ford Motor (NYSE:F) Company-backed startup Argo in October 2022, Tesla continues to pursue autonomous driving technology. However, the primary challenge lies in ensuring the safety and reliability of this sophisticated technology for consumer use.
Meanwhile, Adobe has embraced generative AI technology that aligns well with its business model. Earlier this year, Adobe launched Firefly – a collection of AI tools that enable users to generate content based on written or verbal prompts. The company’s ability to incorporate these AI tools into its existing creative software could fortify its economic defenses against competitors while simultaneously accelerating growth.
In September, Adobe expanded the availability of its generative AI tools across its creative software suite (Adobe Creative Cloud) and extended Adobe Firefly for Enterprises. This move could help corporate users create content without copyright infringement concerns, as Firefly was trained using public domain images and Adobe’s stock image library.
While both Tesla and Adobe offer investment opportunities in the AI sector, they cater to different aspects of the technology. Adobe’s focus on generative AI suggests a more immediate impact on company performance. Conversely, Tesla’s focus on machine learning and autonomous mobility represents a longer-term investment, as these technologies require more time to ensure safety and readiness for consumers.
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