It looks like Adobe now has a new upscaling built into ACR/Lightroom. They've got a bunch of examples in the blog post. An interesting quote from the article though:
It looks like Adobe's new features are definitely taking advantage of the M1 now. This feature was released alongside the native M1 version of Photoshop too. Exciting times if a sub-$1000 MacBook Air can take advantage of these features quickly!
If you’re in the market for a new computer or GPU, look for GPU models optimized for CoreML and Windows ML machine learning technologies. For example, the Neural Engine in the Apple M1 chip is highly tuned for CoreML performance. Similarly, the TensorCores in NVIDIA’s RTX series of GPUs run Windows ML very efficiently. The GPU landscape is changing quickly and I expect big performance improvements around the corner.
It looks like Adobe's new features are definitely taking advantage of the M1 now. This feature was released alongside the native M1 version of Photoshop too. Exciting times if a sub-$1000 MacBook Air can take advantage of these features quickly!