MSN first announced adLab back in January, but it has now been made available to everyone (in beta) with a wide variety of interesting keyword tools for advertisers and marketers. They have launched with 11 demos, broken down into areas Paid Search, Contextual Advertising, Behavior Targeting and Emerging Markets.
7 more demos are listed as "coming soon", providing a teaser of what is to come, although no timeline is given for when they will be available.
Some tools will definitely be useful to advertisers, such as the Search Volume Seasonality Forecast, Search Funnel and Keyword Mutation Detection. Those in Local Search will want to check out the demo on Local Ads, which ironically uses Starbucks for their opening demo (along with an outdated notation about their Christmas Blend), although you can specify your own keywords.
Some interesting tools, and I am sure those in paid search will be watching closely to see if any of these are integrated more closely into Microsoft adCenter, and how Google and Yahoo will respond.