This chapter considers how AI threatens to diminish the value proposition of IP rights, focusing specifically on trademarks and copyright. It discusses how the intangible nature of these rights relies on a shared societal understanding and belief in their existence and value. AI, however, has the potential to undermine this shared understanding, leading to a decrease in the perceived value of IP. The chapter argues that AI challenges the traditional function of trademarks as indicators of source and quality. As AI-generated content proliferates online, it becomes increasingly difficult to distinguish between authentic and artificial sources, eroding consumer trust and confidence in trademarks. This erosion is exacerbated by AI’s ability to manipulate language and imagery, creating a world where consumers may no longer be able to rely on trademarks as reliable signals of origin or quality. Similarly, AI may challenge the value proposition of copyright by blurring the lines between human and machine creativity. As AI-generated works become more sophisticated and indistinguishable from human-created works, it becomes difficult to assess the originality and authorship of creative content, potentially diminishing the value of copyright protection.