I think AI art generators will be revolutionary. I do already use the AI-generator Wombo Dream to generate new inspirations and designs. I'm not utilizing it to its fullest potential, but it's a start.
But on the other hand, the biggest stereotype about digital art used to be that you just push a button and the computer generates it.
I see this as kind of like the invention of cameras. Photograph cameras didn't wipe out artists from existence afterall, and all you do to take a photo is push a button. People will find a way to use AI-generated art to supplement their own creative process, birthing new art styles and art movements and new art skills.
Plus, there is a visually artistic difference of a professional photographer using an iPhone camera vs me, a lay person, using the iPhone camera.
But on the other hand, loads of new artists will just generate every background whole-cloth with AI, to the point where even if you meticulously draw everything, readers will probably assume it's fake.
Even with digital illustrations, a lot of artists already using photobashing to quickly create their landscape's castles and mountains and whatnot, not drawing every single stroke. The finished products look amazing and your average viewers won't care aside from "that looks super cool, nice."
As for comics, I imagine readers' standards will change too. Even me as a reader today, I to be honest don't care much about 100% hand-drawn/hand-painted backgrounds in comics. I want things to look nice enough, the dialogue legible, the story to be interesting, for the comic to update regularly/be completed on time. I don't care if the artist drew everything from scratch, traditionally, using their own tears to mix colors. I think artists sometimes don't realize that just because something takes longer to do, doesn't mean it's more valuable or special especially if easier automations and shortcuts exist.
It'll probably devastate the low-end art market too. I'm expecting commissions of things like people's OC's and D&D characters to become a thing of the past,
Haha the commissioning art market probably faced some challenges already with today's 10 year olds doing full renders on their family's iPad thanks to the rise of cheap digital art programs and free tutorials, and then charging $5 as their commission prices. Not to mention there is also the current issue of people/companies trying to use artists in "cheaper" countries like Indonesia and Phillipines but not paying them their full worth in USD.
Anyway, I imagine people who want to pay artists will find a way to pay the artists. Those who don't want to pay (such as those who want to pay $5 max for 5-minutes of animation) will use the AI-generators and save the human artists the trouble of having to talk to such cheapos.
Not to mention the avalanche of garbage it'll lead to like p*rn of of real people and so many deepfakes that you'll only be able to trust a handful of certified news sites.
Deepfakes are a whole another can of issues, I think. Political targeting, misinformation, harassment, etc. Not sure how or when that could be regulated and managed, since we're even having trouble with Facebook and Twitter at the moment.