Canva Unveils AI Design Tools to Automate Tasks Like Video and Presentation Creation

Canva released AI tools to automate design tasks like generating videos, writing copy, and converting formats

The tools use large language models like OpenAI and Runway.AI to power the AI capabilities

Features like "Magic Switch" can convert a text document to a presentation by condensing paragraphs and adding relevant images

The tools aim to bring AI design features together in one platform as the space is currently disorganized

Canva has over 140 million monthly users and made $1.7 billion in revenue in 2022, competing with Adobe