Canva has announced the launch of new AI capabilities that include an AI assistant for image creation and design ideation. The AI assistant, known as Canva AI, can generate interactive applications and automate document creation. Additionally, Canva is introducing Canva Sheets, which features tools like Magic Insights and Magic Charts for data analysis. Despite concerns from artists over AI's impact on the creative industry, Canva's leadership views these advancements as opportunities for growth. The updates aim to position Canva competitively against major players like Adobe in design software.