Adobe has raised its revenue forecast for fiscal 2024 as more businesses and consumers use its artificial intelligence-based editing tools amid signs of an improving economy. Reuters reports that Adobe has raised its revenue forecast for the year.

According to the company’s new forecasts, its revenue will reach $21.4-21.5 billion this year. Previously, Adobe expected this figure to be $21.3-21.5 billion.

Adobe’s forecast reflects that its AI efforts are paying off. Customers are increasing spending on the company’s software products, such as Premiere Pro, Animate, and After Effects, which are used in various industries.

“It appears that their (Adobe’s) business is thriving in spite of the crowding out by AI that is dragging down those peers. We believe that leaves Adobe as the best-positioned large-cap software company,” said Gil Luria, research analyst at D.A. Davidson.

By the way, Adobe recently made changes to the terms of use of its products and it says that the company can now “access your content using both automated and manual methods, such as content verification.”

However, after users were outraged, it became known that the company was reviewing the terms of use, according to which it was supposed to have access to all the works of its users.