AAM Updates Notifier is a process that is part of the Adobe Creative Suite (or possibly other Adobe products) that checks periodically for updates to the Adobe software that are installed on your computer. There is nothing malicious or suspicious about this application and you should not disable it as your Adobe products (eg Photoshop) might complain or crash.

If you need to disable it however you can always do so from the Activity Monitor.
Operating system    
Apple / Mac OS X
File path    
/Library/Application Support/Adobe/OOBE/PDApp/UWA/AAM Updates Updates Notifier
Next steps    
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