it will be able to do "novel" graphic art and "novel" writing among other things that are an incredible time savings to me or other people.
Since I write novels (that don't sell well 
). I sure wouldn't mind AI that does editing that generally costs me thousands of dollars to do. Or AI that writes better ads or blurbs etc . . .
In the future, it's almost certain AI will be able to write whole novels. Basically a publishing company or James Patterson himself (not sure there's actually a difference these days) will ask AI write me a James Patterson type novel, and poof a publishing company in a matter of time will have a "new" one. What does that means to artists? It could be good, it could be very, very bad. It certainly means we are going to have lots and lots of more James Patterson like books in our future. But it also might mean more Agatha Christie type books or Shakespearian like plays . . . it could get weird. One thing we can be certain of, AI will get better and be a bigger part of our lives and our children's lives.
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