Instagram launches Edits app for video, rivaling TikTok

1. Instagram launched Edits, a video creation app similar to TikTok's CapCut. 2. Edits includes AI tools for video editing, background replacement, and captioning. 3. Meta aims to strengthen its position in the evolving creator economy. 4. TikTok's future is uncertain with possible U.S. divestment impacting competition. 5. Adam Mosseri emphasizes the need for compelling creative tools for video creators.