InstantAI is a UI design tool that allows real-time collaboration and supports Sketch, Figma, and XD formats. It streamlines design work and enables design teams to create interactive prototypes and design annotations effectively. The tool's support for several popular file formats and a library of pre-made design elements saves time and effort in the design process. The real-time collaboration feature allows teams to work on shared projects and streamline the design process, making it an excellent option for teams seeking a professional-level UI/UX design tool emphasizing collaboration and efficiency.