Australia's Canva takes deep dive into AI to help regain valuation

Design software maker's co-founder says tech is key to avoid 'real opportunity cost'

20231020 Inside Canva Inc. Headquarters

Canva staff at work in Sydney. The company has added a string of AI-powered functions to its design software. © Getty Images

SAYAN CHAKRABORTY, Nikkei staff writer

BENGALURU -- Design software maker Canva is leaning on artificial intelligence (AI)-powered features to woo enterprise clients amid mounting competition and a sharp fall in valuation, which threatens its place among the world's top startups by that measure.

Co-founder and Chief Product Officer Cameron Adams told Nikkei Asia that AI tools let users experiment with new ideas freely and quickly, while in the past such trials would often be nipped in the bud for lack of time, people or money.

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