Finance
Artificial Intelligence Impact On Creator Economy Is Both Boon And Bane
AI is not just a cost-cutting tool for companies like 1% Club but also a transformative design promoting the creator ecosystem.
Artificial intelligence (AI) may soon overtake the creator economy as it help to reduce costs, simplify content production and evolve traditional work culture.
As we covered in a previous article, The 1% Club, is a financial education platform founded by Instagram influencer Sharan Hegde. Sharan raised INR 10 crore funds from Zerodha co-founder Nikhil Kamath, yet the company recently laid off 15% of it’s employees.
What is the reason? And is the rise of AI a threat to our jobs?
The layoffs suggest a shift in the essentiality and efficiency of AI for survival in today’s competitive influencer market. Fact is, AI delivers more quickly than humans.
Galleri5 is an AI-powered influencer marketing platform led by CEO Rahul Regulapati. The company leverages AI technology to transform industry standards. Regulapati highlights that AI allows influencers to scale operations with minimal human resources. He adds “If you’re a top content creator, maybe you would have five photographers, a research team, and a styling team, at least 10 people. Now, with just one person and AI, we can produce similar content.”
The Sudden Shift in Sharan’s 1% Club and Other Companies
The 1% Club worked out operations with AI, and influencer marketing firms observed mixed reactions. Kofluence’s co-founder Ritesh Ujjwal noted that AI is still in its baby steps stage, though its influence is like a forest fire.
According to Neel Gogia, Founder of IPLIX Media, approximately 50,000 jobs will be at stake in the influencer ecosystem.
Currently, influencer marketing has hundreds of entry-level job openings and over 55% of such roles are in advertising services spread across content creation, media production, and marketing agencies.
AI in Content Creation and Cost Reduction
AI simplifies content production and reduces costs for creators and businesses. Let us understand simply; AI video editors will reduce hours of work to mere minutes. Hyper-realistic images and videos can be created using AI without prior design skills.
On the brighter side, such capability allows micro-influencers and small-scale businesses to produce professional content and market themselves.
You must know that AI is not limited to content generation, but can perform logistical functions. Regulapati of Galleri5 highlights, that “AI can digitally create products online, eliminating the need for physical Ad shoots and marketing videos.” If this is done it cuts down 75% of the costs of hiring photographers, locations and other logistics.
The efficiency extends to post-production as well. A few AI tools analyze audience activity data and recommend optimal posting times, while other tools adapt and reformat content for different platforms.
Tools of Artificial Intelligence Currently Serving the Creator Economy
- OpenAI, Perplexity, and Anthropic offer tools supporting various content creation stages.
- AI analyzes trending topics, performance, hashtags and competitor activities for real-time insights.
- NotebookLM and Google Illuminate help with content summarization and podcasts.
- Meta’s AI Filmmaker creates realistic videos from text instructions.
- Descript, Lumen5, and Runway ML perform video editing and production.
- KlugKlug’s AI tools monitor fake followers and suspicious engagement to maintain authenticity.
Artificial Intelligence Supporting Mushrooming Creators
- AI benefits smaller creators from tier-2 and tier-3 cities, small towns and villages.
- AI provides high-quality content creation with basic equipment, deffo helpful for those who lack Language and Writing Skills.
- Micro influencers collaborate with thousands of brands boosting monetization and reach scattered demographics.
AI is Both Boon and Bane
AI has become a critical tool for many, reshaping how creators operate and promote businesses. Sharan’s background as a finance influencer doesn’t make his company immune to making such decisions. Though he educates and empowers people about financial literacy, that cannot guarantee flawless financial decisions at all times. His personal image and the decisions he makes for the company are separate aspects that may not always align.
As AI continues to evolve, influencers and companies leverage its capabilities to stay ahead of their contenders.
Previously Read: Sharan Hegde Just Laid Off 15% Workforce; Cost-Cutting With AI
Finance
Financial Management for Indian Creators: Mastering the Art of Budgeting, Saving, and Investing
In the vibrant world of content creation, where creativity meets entrepreneurship, Indian creators are making their mark across various platforms. From YouTube to Instagram, X to podcasting, the opportunities seem endless. However, with great influence comes great financial responsibility. Let’s dive into the essential financial management tips that every Indian creator should know to build […]
Finance
5 Finance Influencers Explaining How to Invest Your First Rs 1000
Finance, investment, and stability are interconnected concepts that complement each other. Investing transcends mere profit; it encompasses the safeguarding of your financial future, the realization of your aspirations, and the creation of opportunities for both yourself and those around you. Many finance influencers have emphasized the significance of starting investments early to attain financial independence […]
Finance
5 Indian Influencers Who Make Budgeting Fun for Teens
Creating and sticking to a budget is foundational for sound financial management. You can use it to keep tabs on your money coming in and going out, save for future objectives, and be ready for unforeseen bills. Teen budgeting is a wonderful means for instilling fiscal responsibility and laying the groundwork for future financial literacy. […]
-
Food1 week ago
What Is Feastables? MrBeast Is Coming To Mumbai To Launch This Product On November 10
-
Lifestyle2 weeks ago
Diwali Wishes for Social Media: Creative and Heartfelt Posts
-
Biz1 week ago
MrBeast, Logan Paul, KSI, IShowSpeed: YouTube’s Biggest Stars Are Coming to India
-
Food2 weeks ago
Rising Food Bloggers from Andhra Pradesh to Watch Out For
-
Lifestyle2 weeks ago
5 Andhra Pradesh Influencers to Follow on Instagram
-
Beauty2 weeks ago
5 Desi Fashion and Beauty Influencers Making Waves Globally
-
Lifestyle1 week ago
Reshma Kadvath: A Life Dedicated to Creation, Upcycling and Restoring!
-
Food1 week ago
Prime Energy Drinks Are Coming To India; KSI and Logan Paul To Launch The Product