Here’s the thing, it uses existing inputs, it can only give existing outputs, it won’t generate anything novel in the sense that you won’t get a new style like Cubism in the early 20th century (Picasso).
Here are the things that will be replaced: generic artists, the people in advertising that look to influence the average person with safe, generic boilerplate ‘template’ art. It can generate a website, copy and images with a simple prompt, where current website systems (eg. wordpress) have oodles of templates that no sane person could ever pour over, you’ll basically ‘search’ for your style and it will generate that style. Big companies like Coca Cola will never use it, but instead of having a 1000-person website team, they’ll now have to seek out select true artists and pay them a lot more.
I’ve used it in the field of computer and neurosciences, where I currently work, it’s great IF you know what you’re looking for, it improves your productivity but it can’t do anything new. So your code is now better commented because you have to form better sentences to have it generate semi-decent boilerplate. But it won’t implement your logic, it doesn’t understand starting points and end goals.
So what will happen: people at the low ends of each industry, the ‘gophers’, they’ll have to quickly adapt and either get better or get out. You won’t need to fill offices with useless people like HR, PR. In most fields however, people won’t be allowed to stay ‘junior’ for very long as the junior roles will be completely replaceable. People at the top will get better and more productive as they won’t have to think about and work out small details anymore.
It’s going to have a huge impact, people that haven’t taken up the ‘knowledge economy’ in the last few decades, the accountants that stubbornly stick to Excel and QuickBooks instead of specializing in R and SQL, the 50 year old entry level IT person making $80k+ because he creates his own work, the HR and legal at your average company that just search through hundreds of pages of rules, those are all gone because I can ask a trained model the same questions and get the same answers.