Generative Artificial Intelligence (GenAI) is transforming creative industries by augmenting and challenging traditional artistic processes. This study explores the impacts of GenAI on creative work, examining both its potential benefits and disruptions. While GenAI enhances productivity, democratizes artistic tools, and enables new forms of human-AI collaboration, concerns about authorship, originality, and job displacement persist. Through a conceptual analysis grounded in Information Systems (IS) and creativity research, we identify key themes in GenAI's integration into creative domains. Our findings highlight how GenAI supports divergent thinking, automates repetitive tasks, and lowers barriers to entry in artistic professions. However, ethical concerns surrounding intellectual property, over-reliance on AI, and homogenization of creative output remain significant challenges. We argue that responsible adoption and regulatory frameworks are essential to balancing innovation with artistic integrity. This paper contributes to IS and creativity literature by offering insights into how GenAI reshapes creative processes, labor markets, and artistic value.