What can you do with GPT 4? (OPENAI)
Generative AI engines, language models, and infinitely accessible data generate a lot of content and products in a matter of seconds. Despite warning calls from tech industry executives, the generative and technological arms race is neither slowing down nor stopping, and it seems that as technology advances, a deep chasm of job security is opening up in the industry. Anyone who dreamed of digital nomadism and financial independence woke up to a financial reality that was biting into their bank account.
Service providers were only the first segment in the imperialist takeover line of artificial intelligence technology. The second segment was Internet companies, technology corporations and web portals, which entered between the intentions of technology.
So which corporations are going to be hurt by the development of AI?
Freelance Platforms
The first victims to be harmed by the development of AI are portals like Fiverr and Upwork, which bring together millions of service providers and freelancers in various fields, many of which are now done by machines: writing, editing, translation and proofreading, design, preparing documents and presentations, business analysis, business research, and the list keeps getting longer.
Just as all these service providers suffer financial damage from the development of AI, the companies that unionize the service providers may also suffer a financial slowdown. Ultimately, for these companies, service providers are the product, and if the product is in danger, then they too are in danger. I am convinced that the senior executives of these companies are following with concern and closeness everything related to the development of language model technology and are looking for the pivot that will turn these challenges into commercial and technological opportunities.
Marketplaces
The second victims that could be harmed are marketplace sites such as Yad2, Wanted, and their overseas counterparts, as well as designated areas on social media platforms such as Facebook Marketplace and LinkedIn Jobs. These digital marketplaces enable the sale of new or used products, properties for sale or rent, job applicants, various services, barter or trade-in transactions and, of course, brokerage. These sites do not always charge a sales commission and usually allow both parties to close the details of the transaction off-site. This is because their business model does not rely on sales, transactions or clearing, but on human traffic of users who are on the site and are exposed to content and advertisements.
Why are these sites at risk? Well, artificial intelligence technology is taking giant steps towards digital bots that scan, locate, price and conduct cold and digital negotiations for us with the other side, which may also be a digital bot. This on the one hand maximizes and improves the aspiration of the system's users to make a sale or purchase transaction, under the most favorable conditions for them, but on the other hand makes human interaction in general and human traffic on these sites in particular redundant, which harms the business model that relies on human traffic.
Media repositories
A third and final example for companies that may be harmed by the technological development of AI engines are paid media repositories such as Shutterstock and iStockphotos, or free repositories such as Pexels and Unsplash. These sites combine free images, illustrations, and videos alongside paid media, and usually work in two models. The first, of course, is the sale of digital products, and the second is exposing visitors to advertisements, which create commercial value for website owners.
The potential damage from the development of artificial intelligence technologies can be twofold: both the obsolescence of the need to search for and purchase digital products, since AI engines such as Midjourney and DALL-E can produce alternative and professional creative quickly and efficiently, and a decrease in traffic on these sites, which will inevitably lead to a decrease in revenue.
What can we expect next?
Generative language models began their journey in the industry in 2022 and posed a technological and employment threat to the population of digital service providers and freelancers. But in 2023, this technological development no longer threatens only employees but also companies, corporations and commercial sites. In 2024, we can expect technology to threaten other sectors as well, such as innovation and entrepreneurship.
Entrepreneurs and startups that aspire to raise capital, build a team and develop a product, in order to be acquired in the future by a huge corporation and assimilate into it, will be in the firing line of technology, which will enable the corporations' R&D departments to develop technological products themselves with minimum time, resources and costs, thus saving the need to purchase external developments. We must not take these developments lightly and we must closely monitor the progress and impact of technology on the business ecosystem, and no, the startup nation may also be left behind.
Rotem Maital is CEO of Asgard Systems Ltd.
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- artificial intelligence
- Corporate
- Fiverr
- Dvd2
- Market Place
- technology