Already well studied - see Generative Art cites (Score 1)

Computer generated art is a subset of Generative Art. There are all manner of related technology and art theory issues.

And a lot of smart people already well into the topic...here are a few places to look if you want to really get into it seriously...

My paper "What is Generative Art..."

http://www.philipgalanter.com/pages/acad/media/g a2 003%20proceedings%20paper.pdf

The site of the annual Generative Art conference with many more papers and so on...

http://www.generativeart.com/

Home of the generative art discussion list and many many related links...

http://www.generative.net/

jump in, the waters fine!

Phil