This thesis project applies Speculative Design through a Participatory Design process to speculate about the futures of AI in art by critically involving creatives. Conducting field research, interviews, and two co-design workshops, hosted at the Malmö City Library, the project resulted in an exhibition of four speculative scenarios in the form of short stories and AIgenerated visualisations, sparking critical discourse and reflection about generative AI tools in art. This project was conducted individually within 4 months, from February to June 2024, as my thesis project in Interaction Design at Malmö University and passed with distinction.