Music sector workers to lose near a quarter of all work over next four years, says study

nme.com:

Artificial Intelligence over the next four years.The figures come from the first global economic study examining the impact of AI on human creativity, by the International Confederation of Societies of Authors and Composers (CISAC).Without intervention from policymakers, those working in the music sector are predicted to see more than a 20% decrease in their income, while AI developers in the music industry are set to gain €4bn (up from €0.1bn in 2023), per The Guardian.The annual market for generative AI is currently €3bn, which is predicted to rise to €64bn by 2028.Elsewhere, the study highlighted the threats AI pose to creators under the current regulatory frameworks that are in place in most countries.

This includes shrinking work opportunities and unauthorised use of their works to train generative AI models.Former ABBA member Björn Ulvaeus has commented on the findings, saying: “AI has the power to unlock new and exciting opportunities – but we have to accept that, if badly regulated, generative AI also has the power to cause great damage to human creators, to their careers and livelihoods.