AI-generated art is selling for big bucks

Auction giant Christie’s is launching a first-of-its-kind auction dedicated entirely to pieces created with the help of AI.

The online auction, featuring 34 artworks from professional artists, opens today and will run through March 5 alongside a live exhibit in New York City.

• The piece with the highest projected price tag is Alexander Reben’s “Untitled Robot Painting,” which quite literally paints itself.
• An AI-powered robot will gradually add to the currently blank 10-foot-by-12-foot canvas each time someone places a new bid on the work. Christie’s estimates it could sell for up to $1.7 million.

AI artwork is in growing demand. One example: three months ago, Sotheby’s auctioned off a painting created by robot artist Ai-Da for $1.3 million. Overall, the global AI art market is projected to reach ~$1 billion by 2028, doubling its value compared to 2023.

🖐️ But…The trend isn’t without its critics. The inaugural AI art auction has drawn pushback from thousands of artists, who signed an open letter claiming many of the artworks were created using AI models known to be trained on copyrighted work without a license.