Not only AV1 encoding and decoding is available, but all video encoders and decoders are many times faster than in the previous AMD integrated GPUs, allowing the transcoding of many video streams in parallel.
The top models of AMD Phoenix, i.e. of the laptop CPUs which are intended to be used with their integrated GPU, not with an external discrete GPU, are Ryzen 9 7940HS and Ryzen 7 7840HS.
Many benchmarks for these 2 models can be seen at:
TLDR: Both Ryzen 9 7940HS and Ryzen 7 7840HS laptop CPUs (which are slower than the Ryzen HX laptop CPUs) are faster than the fastest 65 W desktop Intel Alder Lake CPU, Core i9-12900 (despite the fact that the latter not only uses more power, but it has 50% more threads).
To be fair, comparing mobile CPUs to desktop CPUs on power consumption is basically meaningless, because desktop CPUs will double the power consumption to get a few extra percent on performance, performance per watt be damned.
And it's comparing against the previous generation 12900 instead of the current generation 13900.
And the extra threads on the 12900 are the E-cores, which aren't that fast.
Basically the result is that current gen AMD mobile CPUs are faster than last gen Intel desktop CPUs. Which is true, and not unimpressive, but far less informative than a comparison of like with like would have been.
7950X for desktops, 7945HX for laptops. Pretty similiar in terms of the compute functionality (16C/32T) although the base clocks and TDPs are different (4.5 GHz for desktop, 2.5 GHz for the laptops as the base clock -- they both can boost much higher).
Notable improvements from previous generation: