Kenny Schachter explores the existential threat posed by the rapid advancement of Artificial Intelligence and its projected impact on the global economy by 2028. Citing the Citrini Report, he highlights a future of mass unemployment among white-collar professionals—the primary demographic for art consumption—who account for over 50% of discretionary spending in the U.S. As tech leaders like Jack Dorsey begin significant workforce reductions attributed to AI, the financial foundation of the art market appears increasingly precarious.
This shift matters because the art world's "micro-universe" of galleries, museums, and auction houses relies heavily on the disposable income of the upper-middle class. Schachter argues that while art remains a uniquely human endeavor, the displacement of mid-market collectors will lead to a withered industry. He positions art as a vital human output that requires urgent support even as the economic structures that traditionally sustained it face an AI-driven "bloodbath."