ProjectBlog: Artificial Intelligence in the Art Market

Blog: Artificial Intelligence in the Art Market

AI or artificial intelligence has rapidly changed the entire world. All monotonous tasks and some sophisticated ones can also be done easily with the help of AI. The technology is likely to impact all major industries.

In use of artificial intelligence has changed the way the art market operates. The modern perceptions around art have been reshaped with its emergence. Fundamental questions like how artwork can be classified and how can people invest in art are being rethought entirely.

AI and Art

No one knew that AI and art could go hand in hand. It has aided the art industry and made it more transparent. For those of you that don’t know, artificial intelligence is the ability of machines to learn and make use of information. Steps are underway to make use of AI network in the art market. AI provides many advantages to the art market which no other technology can.

AI and Block Chain Technology

Artificial intelligence and blockchain technology can be used together to impact and revolutionize the art world. It has created many new security and investment opportunities. In the past, the art market was restricted to only the wealthy but with the advent of blockchain technology, anyone can invest in the art market by buying art shares. Art investors would by issues art token, art coins or art cryptocurrency for ico art and ico artwork.

Art and Coin

Art coins are already being used in the market and have been issued to many art investors. It has eliminated many problems which had plagued art investors in the past. The possibility of forged art being bought has been taken care of. This has led to the authentication of all artwork and has made it impossible to sell fraudulent artwork.

Normally, an art professional was required to detect forgery but now artificial technology and blockchain technology has given rise to Artchain, and the unique ArtDNA fingerprint which will protect art investment.

Advanced Technology

AI and blockchain technology offer the use of advanced technology that helps store information on a digital ledger. This ledger is impossible to alter and allows for the verification of the authenticity of the artwork. It will also show a detailed transaction history which will even show the condition of the work.

Ease of Entry

Due to these factors, there is an ease of entry to the art market for new investors. Asset tokenization protects your investment and decentralizes the entire market. It will lead to an increase in the value of an artwork.

Lower Costs

There is less risk in the art market due to AI and blockchain technology. This low level of risk has led to lower costs associated with the art market such as insurance, financing and more. Anyone having limited capital and wanting to invest in the art market can do so by investing in Artchain and acquiring art coins. The art industry is only likely to change even more in the future.

Source: Artificial Intelligence on Medium

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