"A.I. is unlikely to upend the market overnight, but those who integrate it strategically—especially in data, discovery, and operations—could gain a meaningful edge within the next five years."
"When the Web3 marketplace, LiveArt began publicly offering A.I.-powered analytics in 2022, the service was explicitly aimed at new investors, not seasoned collectors."
"Bonhams CEO Seth Johnson stated that the partnership allows the auction house to explore applications of A.I. for specialists, particularly market patterns, supporting valuation, and helping our teams access insight more efficiently."
"Competing claims about A.I. as either over-hyped or the ultimate disruptor have amplified uncertainty about when—or whether—to invest."
The art market is beginning to acknowledge the importance of A.I. technology, though its practical applications are still developing. Art firms face pressure to experiment with A.I. without overcommitting, especially after the NFT market's decline. Strategic integration of A.I. in areas like data and operations may provide a competitive advantage in the coming years. Partnerships, such as that between Bonhams and ARTDAI, indicate a shift towards mainstream A.I. use, focusing on market analytics and valuation support.
Read at Artnet News
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