Adobe AIR is a solution for creating desktop and mobile applications built on Flash Platform technology. Many Adobe products are built using AIR, including the new touch applications for use on Android tablets.
This was the first glimpse of what would eventually become the product we know today as Adobe Edge. Since that time, Adobe has released periodic updates to the "Adobe Edge Preview" releases on Adobe Labs with the intention of gathering user feedback early and often in order to make the product conform to user expectations and become a useful addition to the Creative Suite.
With Adobe's long history of motion and interactivity in products such as Director, After Effects, and Flash Professional, Edge has an excellent lineage behind it; and while creating such content which targets HTML is quite new, the tools and techniques for authoring this material comes to us along a well-trodden and mature path.