What is the right way to evaluate AI risk when looking at a business? Especially if it's in the creative space (video production, and editing)

Given the recent progress in generative AI, we can envision two scenarios unfolding -
1. The AI enables the artists and creatives to do more work, and as a whole the market grows
2. The AI makes it so easy for producers + directors to do all the work and as a result the market shrinks

Has anyone else looked at businesses which face this unique risk and how have you managed it?