How AI is transforming the creative economy

Globally, our ideas about what the creative economy is have changed over the last two decades. We started to describe a range of activities as ‘creative industries’ about twenty years ago; including theatre, film, music, dance, visual arts, and more. As digital technologies have advanced, creative industries expanded to include the work that digital creatives do – covering graphic design, copywriting, podcasting, audio editing, and so on. 

In the late 1990s, the term ‘creative economy’ began to filter into professional conversations. Broadly, it refers to industries which originate from individual creativity and talent, with the potential for generating wealth and creating jobs. 

The rise of social media drove a new wave of creative economy workers. We called them ‘influencers’; and then we called them ‘creators’. 

Now, the emergence of generative AI is catalysing a new transformation within the creative economy. But what’s changing – and what does it mean for the future? 

AI is enhancing content creation

We asked gaming influencer Jordi van den Bussche (Founder and CEO at JVDB Studios) what first sparked his interest in AI, and he said:

“My interest in AI sparked from a blend of curiosity and the natural progression of technology, also within the gaming and content creating industry. As a content creator, I was struggling with the keyman problem, I was always needed for my videos. My first solution to this was to look into technology, specifically AI.” 

Jordi created an AI-powered gaming YouTube channel, called Bloo. An AI host meant that Jordi didn’t have to be the face of every video – and it’s been hugely successful, with over a million subscribers and 20+ million monthly views during its second year live. 

This is a powerful example of the way that AI is opening up new opportunities for digital creatives; and reshaping the boundaries of what’s possible in limited human working hours. 

GenAI tools are dramatically accelerating the content creation process, and making it easier to create high-quality digital materials. AI tools including DALL-E and Midjourney, for example, are enabling artists to create visual content from text prompts – generating concept art, photo-realistic art, and illustrations in minutes. For industries where visual output is essential (including advertising and gaming), this has the potential to profoundly change working processes and capacities. 

Writers, and particularly copywriters, are also leveraging large language models in their creative work. Tools including ChatGPT and Perplexity are proving valuable for rapidly generating ideas, and even drafting outlines or entire pieces of work. While the human writers still need to undertake extensive edits or rewrites, these tools can significantly speed up the writing process, and help overcome creative blocks. For creators that rely on their written output, this could take some of the fear out of their work: it’s OK if they don’t wake up with a head full of ideas for new content, because AI can help. 

The adoption of AI in the music and film industries is moving at a slower pace, but there are a growing number of tools that enable people to compose original music, for example; or use AI algorithms to automate editing processes like colour correction in video. 

So AI is lowering the barriers-to-entry for creators 

For people who aspire to work in the creative economy but aren’t highly trained in technical or artistic skills, AI is lowering the barriers-to-entry – democratising creative work and enabling anyone with an idea to go ahead and bring it to life. 

But it’s important to remember that this democratisation only goes as far as access to tech: the people who are able to utilise AI can use it to their advantage, while those who don’t have access will not benefit from the opportunities it unlocks. 

Jordi said, “If I could use my platform to drive transformations in technology and society, I would focus on inspiring people to learn and educate themselves about AI and how it can help their lives.”

“Also, I would democratise access to technology, and promote ethical AI development. Each of these areas is critical for ensuring that the benefits of technological advancements are accessible to all, empowering individuals, and guiding the responsible use of AI.” 

What does AI mean for the future of the creative economy? 

We know that fears around job losses are an important part of the discourse around AI and the future of creative work. But a growing number of experts believe that AI is more likely to enable and augment human creativity, rather than replace it; and we need to focus on developing new skill sets so that people have the ability to take advantage of AI opportunities. 

What we’re most excited about is the potential for AI to enable completely new forms of creative expression and creative work – like personalised storytelling experiences that immerse an audience in a storyteller’s world in a totally new way; or collaborative artworks that AI and humans make together. 

Ultimately, by breaking down technical barriers, GenAI is making it possible for a more diverse range of people to produce creative work. And this means that our creative landscape could look significantly more diverse, inclusive, and exciting in the future. 

AI’s impact on the creative economy will continue to grow as the technology becomes more advanced and more refined. 

This transformation will bring up new challenges as we move through it – and we’ll have to navigate those challenges with sensitivity and awareness, and a commitment to protecting the innate creativity and creative culture that humans have developed over time. But it will also offer opportunities for creative expression and innovation that will uplift individuals, communities, and societies – and we’re confident that the convergence of art and tech will drive economic growth from both online and offline businesses.