Google has announced a new version of the Android Studio software code named Android Studio Arctic Fox. Currently the Android Studio Arctic Fox in the Canary channel with a new version numbering 2020.3.1.1. The new version numbering system for Android Studio now closely align with IntelliJ IDEA, the IDE upon which Android Studio is built. Now You can now download Android Studio Arctic Fox Canary 1 (2020.3.1.1) from below download link.
The New Android Studio Numbering system:
<Year of IntelliJ Version>.<IntelliJ major version>.<Studio major version>.<Studio minor/patch version>
Google also updated the version number of Android Gradle plugin (AGP) to match Gradle build tool and the next release is AGP (Android Gradle plugin) 7.0 after Android Gradle plugin 4.2.