The threats posed by artificial intelligence are not only hypothetical situations in which machines become self-aware and strive to take control of the world. Scenarios of this kind are, of course, possible to some extent, but not now and not in the coming decades.
Currently, many sectors are facing problems and trying to adapt to the changing market, where AI is starting to matter more and more. Of course, most concerns and speculations arise in the so-called segments. the creative industry and all kinds of artists. However, in many cases it is claimed that there is no reason to worry.
However, it turns out that it is not so unrealistic. A newly published study suggests that the music industry may lose up to 1/4 of its revenues in the next five years. What exactly is this about? 
AI could generate huge losses for the music industry
According to the report published by CISAC, which was intended to measure the potential impact of AI on the economy in the music and audiovisual sector, several disturbing findings emerge. The most important conclusion from this study is that the threat to income for human artists over the next four or five years is really high. At the same time, this is associated with an increase in revenues for companies involved in the creation and training of GenAI, which would deal with music.
Music creators risk losing out due to the fact that AI will be able to replace them quite quickly and effectively, and at the same time be cheaper. Despite assurances and guarantees, there is a risk of losing 24% of income for music creators and 21% for audiovisual creators. The cumulative value of such losses is expected to be EUR 22 billion over just 5 years.
The report predicts that by 2028, generative artificial intelligence will account for approximately 20% of the revenues of traditional streaming platforms. This percentage is higher and reaches about 60% in the case of music libraries, which shows quite a considerable process of degradation of the participation of human artists.
Of course, AI suppliers and producers will make a profit here. The market for music and AV content generated by new technology will grow exponentially and will grow from EUR 3 to 64 billion in 2028. We are talking about gigantic increases that will be felt, especially since they are to some extent at the expense of human artists.
Conclusion? Need for regulation
The conclusions presented by the authors of the study indicate the need to properly regulate the market and maintain the position of artists. Additionally, there is the issue of unauthorized use of music from human artists and the need to protect this aspect, especially in the coming years, which is crucial for the development of genAI.
Specialists also indicate that adapting to artificial intelligence in the music industry can be extremely demanding. This does not mean, however, that the industry will completely reject this idea.
Of course, it’s all about money and respect for copyright. If governments, corporations and societies can cope, a symbiosis between genAI and musicians is possible. Ultimately, it may even result in both parties simply making more money. Everything is just a matter of coming to an agreement.
