Does Apple M1 chip with 8‑core CPU, 7‑core GPU good for editing photos and videos will it able to run adobes apps smoothly?

At the moment Adobe products will have to run under Rosetta which reportedly works pretty well, at least with Photoshop. How well 3rd party filters work is less well known. I’ve not seen any reports about Premier video editing. Adobe is said to be working on an M1 compatible version to be due out ‘next year’. Your best information source would be at Adobe’s Web site.