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Their wordsIt's telling that Anthropic, the most prominent AI lab, has basically never bothered with image, video, or music generation, because the prospective economic benefits are marginal when compared to using AI to tackle math or scientific problems.
Our reading
The primary impact of AI-generated art will be cultural and societal rather than macroeconomic.
Their wordsIn other words, the primary impacts of AI art will be on culture and society rather than the macroeconomy.
Their wordsYet if the economic impact of AI ends up being anywhere near large enough to validate the trillions of dollars investors are currently betting on it, these economic disruptions will only spread from here.
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