Disclaimer: The opinions expressed in this article are the sole responsibility of the author and do not necessarily reflect the views of the editorial team at crypto.news. The unstoppable progress of artificial intelligence has sparked numerous studies on its potential impact on employment. There have been grim forecasts of AI displacing millions of white-collar workers and causing widespread industry disruption. However, as Charles Darwin famously stated, survival is not determined by intelligence alone, but by the ability to adapt and embrace change.
In the realm of the creative economy, valued at an estimated $985 billion, AI’s influence is often viewed negatively. Actors may be replaced, writing rooms substituted by large language models, and green screens swapped for generative AI tools. Yet, there is another side to this narrative. AI is also empowering artists, pushing the boundaries of creativity, and breaking down barriers for talented creators without the resources of major Hollywood studios or TV networks. Through blockchain technology, new vibrant economies are emerging, allowing creatives to establish direct connections with fresh audiences.
A comprehensive survey conducted by Canva, an AI-powered graphic design platform, last September, explored the impact of AI tools in the creative industry. Over 4,000 professionals from nine major economies participated, revealing that 75% of respondents consider generative AI a crucial tool. Additionally, 97% of executives are open to the idea of AI becoming more prominent in the workplace. Forward-thinking leaders recognize the immense opportunities offered by this technology.
AI for Good
Before artificial intelligence, creative professionals often spent hours on mundane, repetitive tasks that drained their time and energy. AI has revolutionized this by handling tasks like scheduling, email correspondence, report summaries, and storyline research. This shift allows creators to focus on their strengths: storytelling, innovation, inspiration, and exploration. AI tools serve as invaluable assistants, freeing up creators to concentrate on producing content that resonates with consumers.
Blockchain technology further enhances this new workflow. Blockchains have tokenized music royalties and valuable artworks, and AI companies can leverage blockchain and decentralized computing power to reduce service costs. Decentralized computing power, rewarded through blockchain, could address the high demand faced by tech manufacturers, as noted by Jensen Huang, Nvidia’s founder and CEO.
Leveling the Playing Field
AI has made cutting-edge tools accessible to all, regardless of financial resources. Innovations like text-to-video generators allow anyone with a vision to bring it to life. Consumers struggle to distinguish between real and AI-generated videos, indicating the potential for transformative creative projects on modest budgets. The marketplace will see a surge in high-quality content, mirroring the rise of streaming platforms like Netflix, which expanded consumer choices without harming traditional studios.
The Future of AI in Creativity
The future impact of AI remains uncertain, with startups embracing AI technology and its capabilities improving rapidly. Challenges like copyright protection and skill development for AI tools must be addressed. However, focusing on the positive aspects of AI’s impact on the creative sector, such as empowering artists and engaging consumers, is essential. The potential of AI, web3, and blockchain is vast, with Hollywood and Silicon Valley already exploring partnerships. Independent creators stand to benefit most from this technological revolution, reshaping the industry’s economics for the better.