Impact of AI on Art Sales

As AI-generated art gains popularity, some are predicting that it could disrupt the traditional art market. AI has been used to personalize the art-buying experience for consumers. Some art marketplaces are using AI algorithms to recommend artworks based on a buyer’s preferences and past purchases. Marketplaces like 1stDibs, Artsy, and Saatchi all have suggestions based on your previous searches and interests which automatically generate. However, these tools may help create collecting vacuums rather than support the organic exploration and discovery of new artists and artworks. Although helpful to help collectors receive tailored suggestions, lesser known artists and movements may be getting passed over in favour of more popular searches based on the algorithms.

With more and more AI artists creating works, questions of shifting tastes and trends have also been raised–will collectors be willing to pay high prices for art that is created entirely by a machine, or will they prefer pieces that have been created by human artists?

If NFTs can teach us anything, it is that there is room at the table for new definitions of art, their transactional value and emerging collector bases. Already, new marketplace platforms designed exclusively for AI artists have emerged including the AI Art Shop, SaatchiArt and Artstation.