It's too early to tell as the site is only a day old, but sites like Udio allow anyone to create custom AI songs that sound nearly indistinguishable to human recorded tracks. Currently in free beta, users can create songs of any style with custom lyrics and remix the creation to come up with multiple concepts. Creators don't need a band or artists to put together catchy songs that could potentially go viral.
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it won't put mainstream artists out of business, but musicians who make music for commercials and industrial videos will certainly be feeling this.