ADB.exe is obsolete and has serious performance problems

I am using Windows 10 and when I launch the Virtual Device Emulator in Android Studio I keep getting the message which reads:

“The ADB binary at C:\Users\siviw\AppData\Local\Android\Sdk\platform-tools\adb.exe is obsolete and has serious performance problems with the Android Emulator. Please update to a newer version to get significantly faster app / file transfer”.

I am a new developer with little experience. What do I need to update to a newer version so that message is no longer shown?

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