According to industry statistics, the global art market in 2020 stood at 50 billion dollars. Incredulously, this represents a near 14% drop in value due to the COVID-19 pandemic.
Despite being a significant industry, the art market has not escaped the tendrils of technology. And the more innovation grows, the more changes it heralds.
Here are five ways that technology will disrupt art and self-expression heading into 2022 and beyond.
Here is an intriguing reality: At least 57% of Americans have taken time to listen to at least one podcast. That’s around six out of every ten Americans.
What makes this research even more compelling is that these results spring from surveying consumers 12 years and older. These are startling numbers that every industry, including the art world, has taken notice of.
For example, companies selling digital frames are now hosting podcasts to introduce new artists to the world. Not only that, but such podcasts also share exciting and informative art-related content with listeners.
These firms understand that as they offer value to their target clientele through content-rich podcasts, they cultivate a community and build brand credibility that can translate to sales.
As podcasting takes root, so will the art world’s dalliance with this technology.
2. New Tools for a New Era
If portable paint tubes never existed, would the world have known of the impressionists? Would Andy Warhol have had as effective a voice if silkscreen printing wasn’t a thriving technology in his time?
The cloud and associated connectivity infrastructure, for instance, have blessed the world of creativity with a plethora of tools for easier ideation and collaboration. Nextiva’s cloud offerings, for instance, enable easy CRM and business integrations and rea-time voice analytics for easier digital expression.
Each era offers technological advances that bless the creators of its time with new ways to express themselves.
For example, creators can use lasers as a kind of digital brush to create magic with today’s innovation.
Others turn to a wall-climbing robot to create art that changes every time you look at it. As innovation morphs, different tools at the bleeding edge of technology will continue offering new ways for creators to express themselves.
Traditionally, auction houses would handle the examination and selling of art pieces. Inevitably, the art-related market activity would concentrate around the geographical areas where these auction houses were at.
Art lovers don’t need to visit auction houses to examine and buy art with today’s technological advancements. Auction houses operating online offer unprecedented access to sellers and buyers no matter where they are.
The impact of this monumental change has been the decentralization of art-oriented marketplaces. Pundits expect most art sales involving lower price points to keep moving online even as higher-priced art sales cling to the traditional model.
In October 2018, a well-known auction house put up an art piece for sale known as the Portrait of Edmond Bellamy. The final selling price for the artwork was $432,000, which was approximately 45 times more than its estimated value.
Even though that is not usual, it’s the origin of the artwork that catches the eye. The Portrait of Edmond Bellamy was the product of artificial intelligence (AI) and not birthed by a human creator.
As AI grows, more application ideas will mushroom into how art blends with this kind of innovation. For example, AI not only helps create art, but it now aids stakeholders in tracking down stolen artwork.
Despite the hotly contested AI vs. human creator debate, one thing remains clear – AI has crossed over from its role as an impersonator to other roles that will leave an indelible mark in art’s history.
The dynamics of art sales and marketing have undergone notable changes due to the advent of social media. Keeping in line with the globalization of art (and business as a whole), it’s never been easier to create and sell art.
Social media helps creators connect directly with potential sellers or agents who can help grow their sales. Entire websites have sprung up dedicated solely to helping creators of various kinds of unique creative pieces.
Not only that, social media can now help creators develop and manage a level of customer care to help keep their clients happy. No longer are creators beholden to a few deeply entrenched individuals or organizations acting as intermediaries and charging hefty fees to manage customer relationships.
As social media becomes more personalized, creators and other art stakeholders will need to keep pace to maintain direct relationships with their supporters.
Technology sits across every sector as an inescapable layer. If you ignore the ripples caused by the oncoming innovation waves, the winds of change riding on the back of technology will sweep you away. Thus, creators and other stakeholders in the art market are looking for advantageous ways to adopt innovation. And whoever stays ahead of the curve will ultimately remain standing as others fall by the wayside.