Expect to be hearing a lot about this in the future.
The latest buzz is that Flash goes HTML5 i.e. the work done in Flash can be imported to HTML5 using the new Creative Suite called Flash CS6 that will work on iPad and iPhone as well as Android and it will also support Windows 8.
A year or so ago, pundits were predicting the death of Flash. That seems unlikely to be the case now. The devil, of course, is in the details. Expect a lot of experimentation over the next few months.
Flash CS6 uses the CreateJS open source framework for the output of animations in Flash. A Flash animation can be exported to the CreateJS framework working within the Canvas element of HTML5 which is being called as the Toolkit for CreateJS. It will help to smooth the transition to the world of JavaScript from ActionScript development. It is thus being predicted that HTML5 has a great future in the world of web development and Web designing.