The rise of generative artificial intelligence (AI) has sparked concerns
about its potential influence on unemployment and market depression. This study
addresses this concern by examining the impact of generative AI on product
markets. To overcome the challenge of causal inference, given the inherent
limitations of conducting controlled experiments, this paper identifies an
unanticipated and sudden leak of a highly proficient image-generative AI as a
novel instance of a "natural experiment". This AI leak spread rapidly,
significantly reducing the cost of generating anime-style images compared to
other styles, creating an opportunity for comparative assessment. We collect
real-world data from an artwork outsourcing platform. Surprisingly, our results
show that while generative AI lowers average prices, it substantially boosts
order volume and overall revenue. This counterintuitive finding suggests that
generative AI confers benefits upon artists rather than detriments. The study
further offers theoretical economic explanations to elucidate this unexpected
phenomenon. By furnishing empirical evidence, this paper dispels the notion
that generative AI might engender depression, instead underscoring its
potential to foster market prosperity. These findings carry significant
implications for practitioners, policymakers, and the broader AI community.

生成人工智能（AI）的崛起引发了对其对失业和市场萧条的潜在影响的担忧。本研究通过考察生成 AI 对产品市场的影响来解决这一问题。出人意料的是，研究结果表明虽然生成 AI 降低了平均价格，但显著提高了订单数量和总收入，这与预期相反。该研究进一步提供了理论经济解释，以阐明这一意外现象。通过提供经验证据，本文驳斥了生成 AI 可能导致市场萧条的观点，反而强调了其促进市场繁荣的潜力。这些发现对从业者、政策制定者和广大 AI 社区具有重要意义。