How generative AI could change creative work
What: The HBR reviews how Artificial Intelligence could disrupt creative jobs and how to adapt.
Why it is important: Department stores will also be affected in many ways, from designing their own private labels, to their marketing campaigns and other customer-facing actions. For that reason they should adapt in order to gain precious productivity points as soon as possible.
The creator economy, valued at $14 billion, allows independent creators to connect directly with audiences and monetize their work through digital channels like Substack, Flipboard, and Steemit. However, generative AI applications like ChatGPT and Midjourney may significantly alter creative work. Three possible scenarios are proposed:
1- An explosion of AI-assisted innovation: AI supports human creativity, enabling faster and more efficient work, leading to rapid iteration and more people engaging in creative endeavors.
2- Machines monopolize creativity: Algorithmic competition crowds out human creativity, causing a decline in authentic human content and innovation. Personalization of content may lead to loss of shared experiences and increased filter bubbles.
3- "Human-made" commands a premium: Authentic human creativity is valued more as people may be willing to pay a premium for it. Human creativity retains a competitive advantage due to social and cultural context awareness.
To prepare for generative AI, businesses should brace for disruption, invest in structuring their knowledge, and get comfortable working with AI. Finding the right balance between AI and human creativity will be an important challenge for businesses and society.