Zhang, K., Yuan, Z., & Xiong, H. (2024). The Impact of Generative Artificial Intelligence on Market Equilibrium: Evidence from a Natural Experiment. arXiv preprint arXiv:2311.07071v2 [econ.GN].
This research paper investigates the impact of generative AI on market equilibrium within China's leading art outsourcing platform, focusing on how it affects average price, order volume, overall revenue, and the roles of different stakeholders.
The researchers utilize a natural experiment approach, leveraging the unanticipated leak of NovelAI's anime-style image generation model in October 2022. This event allows for a difference-in-differences analysis, comparing the "tachie" (anime character paintings) market (treated group) with the "wallpaper" market (control group) before and after the leak.
The study suggests that generative AI, rather than displacing human creators, can foster a more prosperous market by lowering costs for consumers and increasing opportunities for artists and platforms. The authors argue that generative AI primarily caters to previously unmet "low-end" demands, while incumbent artists, who integrate AI into their workflow, stand to benefit the most.
This research provides early empirical evidence of the economic impact of generative AI within a specific market, offering valuable insights for artists, platforms, and policymakers navigating this evolving landscape.
The study focuses on a single art outsourcing platform in China, limiting generalizability. Future research could explore the long-term effects of generative AI on product quality, consumer satisfaction, and the evolving relationship between AI and human creativity.
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by Kaichen Zhan... في arxiv.org 10-11-2024
https://arxiv.org/pdf/2311.07071.pdfاستفسارات أعمق