Isn't the role of a concept artist mainly to do worldbuilding and drawing second? AI does not seem to have a good world model, they make pretty pictures but they lack thought behind them.
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Agreed, and I think there are a number of... over-enthusiastic executives with dollar signs in their eyes who are in for a rude awakening about this. It might sound great to replace your artistic staff with an LLM subscription, until you realize that you laid off all the creative vision with them. That isn't to say I think it'll go away though, I wouldn't be surprised if art students in the future are taught how to wrangle LLMs to supplement their own designs.
I really don't know the details.
You can see a concept artist here discovering he stopped getting work after a company splurted out that they switched to AI.
https://twitter.com/_Dofresh_/status/1709519000844083290
My guess is that a lot of people can have ideas, so you don't need an artist to bring them to life anymore.