To celebrate the new publication of AI and the Art Market by Lund Humphries and Sotheby’s Institute of Art, we spoke with author Jo Lawson-Tancred on AI’s transformative impact on the art market—as both a business asset and a medium for artistic expression.
Your book explores both the benefits of AI and its ethical challenges and limitations. Why is this topic pertinent for those studying at Sotheby’s Institute of Art or looking to advance their careers in the art world?
Over the past few years it has become clear that AI is going to affect every industry. The art world has many potential uses for AI, which I think are fascinating in their own right. Some budding arts professionals may want to work directly with AI and the book should be a useful introduction to some of the key figures who are already working in this field and the main developments so far. Even those with only a passing interest are unlikely to find their career completely untouched by AI but, of course, not all AI is made equal. There are a fast growing number of offerings out there so I believe it is important to be equipped with a baseline understanding of AI’s potential and its limitations in order to be able to better assess some of the promises that AI start-ups may be making.
What practical applications of AI should art-market professionals explore?
My book delves into the use of AI for tasks like valuation or authentication of art, which both provide interesting case studies for the pros and cons of AI.
For example, the more convincing applications of AI in the field of authentication aren’t necessarily the most headline-grabbing. Human expertise is still paramount, but AI does have some strengths over us, including pattern recognition which could be of great help in the task of establishing a connection between a body of artworks. However, in order to do this effectively it needs to be trained on a carefully curated dataset that contains a sufficient number of high quality examples and counterexamples, most likely put together by an art historian. AI is best understood as a “co-pilot” to complement our knowledge.
How can AI be strategically integrated into art market businesses to enhance efficiency?
AI is already being integrated into business practices across many industries to improve efficiency, and this is no different in the art world. I’ve heard several art professionals talk about the ways in which they use tools like ChatGPT to help out with mundane tasks. My book focuses more speculatively on the possible applications of AI long term in ways that are specific to the art world, such as the valuation and authentication of art. It aims to consider not only why AI might be useful to the art world, but what kind of cultural changes it could bring about if harnessed in a positive way. For example, could it make the art world more transparent and therefore more inclusive to new participants, including collectors?
In what ways is AI transforming the evaluation and authentication of artworks?
We are learning to harness AI’s powers of pattern recognition to help out with the very complex task of authenticating artworks. It will take time for these methods to become a trusted part of the existing authentication process, in part because AI’s verdict also needs to be recognised in the courts before it will be truly useful to arts professionals. The traditional art world is understandably cautious about AI so transformation certainly won’t happen overnight.
Valuation is a great example of the ways in which data-driven solutions are being innovated on the fringes of the traditional art world. For established dealers and collectors there is no reason to use AI to value artworks because they already have the experience necessary to navigate price negotiations. However, some platforms have started offering AI valuations as a way to attract a potential pool of new collectors who may otherwise be put off by the art world’s exclusivity and opacity. They want to feel like they are dealing with numbers that can be backed up in some way. This is not so different from other uses of data that we have seen emerge over the past few decades, most notably price databases giving collectors more confidence.
With a range of courses on offer at Sotheby's Institute of Art designed to prepare participants for the ways AI is transforming the art market, what impact can we expect AI to have on traditional art practices?
I hope that AI affects traditional art practices in two ways. Firstly, that we are able to harness its strengths to enhance existing processes, so that its memory and ability to spot hidden patterns or connections can be used to our advantage, as they are in other industries. All of this must be guided by human expertise, of course. Secondly, I hope that creative uses of the limited data we currently have available will encourage greater transparency. My book delves into the ways in which knowledge graphs based on artist exhibition history can provide fascinating new glimpses into how the wider art world ecosystem functions. However, real insight will require more data.
What are the key takeaways from AI and the Art Market for younger professionals who are shaping the next generation of the art world?
As well as the topics and takeaways mentioned above, the book delves into the emerging market for digital art. The distinction between traditional artists and digital artists is not so cut and dry and many different artists are experimenting with AI as it becomes more prevalent in our society. I hope the book will offer an interesting starting point for young professionals to think about how they might position this kind of work, both curatorially and in terms of developing a collector base.