AIs like ChatGPT and Midjourney are already disrupting businesses and I'm curious as to what you think the future of gig work is and specifically how it will affect companies like Fivrr and Upwork?
Here's an example of Midjourney's disruption: https://www.reddit.com/r/blender/comments/121lhfq/i_lost_everything_that_made_me_love_my_job/
Here's an example of ChatGPTs disruption: https://www.reddit.com/r/ChatGPT/comments/129i5ca/the_real_world_impact_of_gpt4_strap_in_its_sure/
I feel like Fivrr and Upwork are in trouble when it comes to knowledge work which is what they're pushing as their top services.
For example, here are the popular professional services offered by Fivrr on their homepage and what I think will impact them most.
- Logo Design (Midjourney)
- Website Design and Creation (ChatGPT)
- Voiceover (Speechify)
- Video Creation (this seems like the hardest to replace right now but will get easier as text-to-video AIs get better and other templated options become more numerous)
- AI Art (most people are selling their prompting skills. Prompting will become easier over time due to newer, easier to use AI image generation models and ChatGPT to help you generate the correct prompt for what you're looking for)
And here are the services offered by Upwork on their homepage and what I think will impact them most:
- Development & IT (ChatGPT)
- Design & Creative (Midjourney)
- Sales & Marketing (ChatGPT)
- Writing & Translation (ChatGPT)
- Admin & Customer Support (ChatGPT)
- Finance & Accounting (Zeni, Melio, or ChatGPT with something like the Wolfram Alpha plugin)
- Engineering & Architecture (Midjourney combined with something like Autodesk or Solidworks)
- Legal (ChatGPT)
Not all of these areas are being disrupted at the same scale yet but most of the offerings by both companies are already in trouble. I don't think these services will disappear, in fact, there will probably be more people offering their services via these websites as AI drives down the barrier to entry for all industries but at the same time fewer people/companies will need their offerings since they can now perform these services themselves.
Some people/companies will still want to hire an outside prompt engineer to create their art, marketing material, or websites, but the number of companies that can't do it internally will drop drastically. Simultaneously the offerings on websites like Fivrr and Upstart will be flooded with new people offering to use these tools for them and peddling their now average translation, writing, art, legal advise, etc... driving down the cost, flattening the overall level of expertise, and greatly expanding the competition for all who offer their services. This added level of noise will make it harder for companies to use Fivrr and Upstart to find individuals whose skills stand out above the rest as they become buried under what appears to be similar offerings by less skilled individuals. The lower pay and added competition will probably drive the more skilled individuals off platforms like Fivrr and Upstart as they become in-house AI whisperers at the companies that no longer have any use for gig-work websites.
What do you think?
[link] [comments] https://www.reddit.com/r/stocks/comments/129s6dp/will_ai_kill_fivrr_and_upwork/
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