Will the next Banksy be an AI?

Creativity, from art and novels to sculpture and film, is said to be the quintessential human characteristic. In past decades, technology and the Internet have given creators from independent writers to musicians new platforms to publish and showcase their work in a “creator economy” estimated to be worth US$14 billion a year. 

Generative Artificial Intelligence (AI) technology looks set to disrupt that. AI applications such as Chat GPT and Midjourney, using massive datasets and user prompts, can churn out an infinite series of images, text, audio and video in mere seconds at industrial scale. In marketing, a slew of subscription-based apps such as AdCreative.ai promise fast, more personalised social media-optimised ads and claim higher conversion rates.  This could drive as much as US$460 billion in advertising and marketing’s value, by some estimates, not to mention substantial increases in productivity.

Already, creative retailers such as Amazon are seeing their virtual shelves starting to flood with cheap, AI-generated e-books, art and graphics resources, to name a few. Many businesses which resell creative content have put or are looking at bans on AI-generated content in their marketplaces. 

The human cost could be greater, as independent, and salaried creative professionals and businesses such as film studios, graphic designers, illustrators and advertising executives fear their jobs are at risk.  There are early indicators that creative agencies, such as advertising firms, could replace up to 7.5% of their workforce with AI technology, although most of these are likely to be in administrative, sales and marketing positions.

How can Asia’s creatives better harness the promises of AI?

For media enquiries, please contact:
Marie Teo
Manager, Group Marketing Communications
Spire Research and Consulting
Phone: (65) 6838 5355
E-mail: [email protected]