DEEP Dive: How Gen AI is Influencing the Creative Economy by Billion Dollar Boy

While once a buzzword, Gen AI is here to stay. In the creator economy–the ecosystem where individuals create and distribute their own content–creators, consumers, and marketers are embracing AI. Billion Dollar Boy conducted research on Gen AI by surveying 4,000 consumers, 1,000 senior marketers, and 1,000 content creators across the US and UK.

Here are the 4 key insights surrounding the future of Gen AI in the creator ecosystem:

1- Gen AI is positively disrupting the creative sector

While there has been discussion that AI could have more of a negative impact than positive, research predicts that Gen AI will have an overall positive impact on the creator sector. Consumers are open to digesting AI-generated content and withhold the belief that it will help improve content quality and diversification. However, marketers and the creators themselves are the most optimistic about integrating AI into the creator sector, with 86% of marketers believing that AI will enhance content quality and 82% of creators agreeing Gen AI will accelerate content creation.?

Why this matters: with marketers, creators, and consumers all beginning to adopt a positive outlook on Gen AI, the technology will begin–and is beginning to be–widely adopted. The widespread adoption of implementation of AI has the potential of changing the creative industry by accelerating content creation, enhancing marketing strategy, and altering consumer experiences.

2- Certain demographics are more accepting of Gen AI in the creator economy than others?

Despite an increasingly widespread adoption of AI in the creator economy, there is segmentation of Gen AI acceptance amongst audience demographics. Men present a more positive attitude towards AI than women, with 45% of men surveyed believing that Gen AI will enhance content quantity in comparison to 37% of women. Men also view creators who use Gen AI more favourably than women. Younger generations are more accepting of Gen AI, with Gen Z and millennials having a more positive outlook on the technology. Additionally, consumers, marketers, and creators in the US market believe that Gen AI will disrupt the creator ecosystem positively more than individuals in the UK.?

Why this matters: while Gen AI may take longer to cross the chasm for some demographics, this research shows that Gen AI is becoming more widely accepted overall among a multitude of demographics. With consumers beginning to view Gen AI in an increasingly positive light–some even preferring Gen AI content to content without Gen AI production–there is an opportunity in the creator economy for both marketers and creators.?

3- ChatGPT, Google AI, and other tools are shaping the creator economy

AI applications are being widely adopted, reflecting an increased use of and trust in Gen AI. The most widely used AI platforms among creators include: Chat GPT (46%), Google AI (39%), Photoshop Generative Fill (33%), and Adobe Premiere Pro (31%).?

Why this matters: The increased variety and popularity of AI tools reflect the willingness of creators to utilise Gen AI as an aid to their creative production. The widespread adoption of Gen AI among creators is also generating an opportunity for marketers to commission AI-generated content. Though the increased adoption of Gen AI is undoubtedly a positive, it also means that creators and marketers must find more unique ways to set themselves apart when using Gen AI.?

4- Addressing the Challenges

Despite creators, consumers, and marketers withholding a more positive perception of Gen AI than negative, there are also potential downsides to the widespread adoption of the technology. 45% of consumers agree that Gen AI will lead to an increased number of content creators, leading to an oversaturation in the creator market. Additionally, over 86% of marketers, consumers, and creators believe there needs to be more regulation surrounding Gen AI.?

Why this matters: Gen AI is a new and quickly evolving technology that needs to be monitored. With an increase in Gen AI content, creators and marketers will need to find a way to stand out and ensure consistency.?

Gen AI is creating a plethora of opportunities in the creative economy, offering creators, consumers, and marketers new ways to generate and digest content. Over the next year, 70% of marketers plan to increase spending on creator content made by Gen AI. Evidently, the widespread knowledge, acceptance, and implementation of Gen AI in the creator ecosystem is evolving rapidly, and it is here to stay.?

Read more: https://www.billiondollarboy.com/gen-ai-report/