Hi there,
As of now, Illustrator on M1 devices doesn't work natively, but it runs using Apple's Rosetta 2 technology which may cause few performance issues. For more details, please take a look at this help article (https://helpx.adobe.com/download-install/kb/apple-silicon-m1-chip.html).
Recently released update for Illustrator 2021 (v 25.1) should work properly on Mac devices with M1 chip. If you are not already on v25.1, then we recommend you to update to latest version and let us know how it goes.
Regards,
Srishti