Dynamic Matching: Fiverr's New Approach to Finding Freelancers Combines AI and Human Expertise

Rhea-AI Summary

Fiverr (NYSE: FVRR) has launched Dynamic Matching, a new AI-assisted tool that revolutionizes how businesses find and hire freelancers on their platform. The system combines AI technology with human expertise to help customers create detailed project descriptions and match them with suitable freelancers.

The process involves four key steps: writing project briefs with AI assistance, matching with qualified freelancers, receiving custom offers within an hour, and selecting the preferred freelancer. For PRO customers, additional expert support is available to refine matches.

According to Fiverr's data, over 57% of executives across marketing, finance, and tech sectors plan to increase freelancer hiring this year. The feature is currently in beta for PRO users and will fully launch in early 2025.

Positive

• Introduction of AI-powered Dynamic Matching system to improve freelancer-client matching efficiency
• Integration of human expert review team for quality assurance
• Data shows 57% of executives plan to increase freelancer hiring
• One-hour turnaround time for receiving freelancer proposals

Negative

• availability - currently only in beta for PRO users
• Full launch delayed until early 2025

Insights

Tech Expert

The integration of AI into Fiverr's matching system represents a significant technological advancement in freelancer marketplaces. Dynamic Matching leverages machine learning algorithms to analyze project requirements and freelancer capabilities, potentially reducing the time-to-hire and improving match quality. The system's ability to help refine project descriptions addresses a common pain point in freelance hiring - unclear project briefs. However, the hybrid approach of combining AI with human experts for PRO users suggests that fully automated matching isn't yet optimal, particularly for high-value projects.

The staged rollout strategy, starting with PRO users in beta, allows for system refinement before wider deployment. This could help identify and address potential issues in the AI's matching accuracy and user experience. While the technology shows promise, its success will largely depend on the quality of Fiverr's historical data and the effectiveness of their machine learning models in understanding nuanced project requirements.

Market Research Analyst

The timing of this feature launch aligns with growing market demand, as evidenced by the 57% of executives planning to increase freelancer hiring. This strategic move could help Fiverr capture a larger share of the professional services segment, particularly through their PRO tier. The combination of AI efficiency with human oversight positions Fiverr competitively against traditional recruiting platforms and other freelance marketplaces.

The opt-in nature of the system for both businesses and freelancers demonstrates market sensitivity and could help drive adoption while maintaining platform flexibility. The early 2025 full launch timeline suggests careful consideration of market readiness and platform stability. This feature could potentially increase transaction volume and average order value by making it easier for businesses to find and hire qualified freelancers.

A new, powerful experience combining data, AI, and human experts makes things simple and faster for customers

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Fiverr International Ltd. (NYSE: FVRR), the company changing how the world works together, today released Dynamic Matching. The new AI-assisted matching tool transforms how businesses can find and hire freelancers. Simply put, Dynamic Matching helps customers write and refine their project description, inviting accurately matched freelancers to make an offer for the project. Dynamic Matching is supplemented by a team of experts dedicated to reviewing matches to ensure quality and precision.

“Search and match is the bread and butter of the Fiverr platform and marketplace,” said Adi Margolis, VP of Product at Fiverr. “As we continue to use our internal data and customer feedback to evolve and streamline the search process, AI now serves as a critical tool for our team, who will be working in tandem for the first time to provide a much more refined and accurate search experience for our customers.”

How it works:

• Tell Us About Your Project. You can share your project brief if you have one, or write a few sentences about what you need in case you don’t. Fiverr’s AI will help create a detailed project description and help you refine your brief to perfect it.
  
• Find Matching Freelancers. Dynamic Matching looks for freelancers with the precise skills to meet the project. For PRO customers, the team of experts will provide additional help to refine the best matches.
  
• Get Custom Offers. Within about an hour, qualified freelancers will send personalized proposals. Customers can also choose to invite other freelancers to submit offers.
  
• Choose Your Freelancer. Pick the perfect freelancer from the offers, and you'll be ready to begin!
  

Businesses and freelancers can both choose to opt into using Dynamic Matching to search or be found, freelancers can accept or deny project brief invitations for custom offers, and businesses have the flexibility to share as much or as little information as they’d like as well as extend their project brief invitation to talent they want to consider, beyond those who are recommended.

Never before have businesses been in more need of freelance talent. Data compiled by Fiverr shows over 57% of executives across industries like marketing, finance, and tech are planning to increase the number of freelancers they hire this year¹. Building on Fiverr’s Summer Product Launch, Dynamic Matching is currently in beta, available to PRO users and will fully launch in early 2025.

About Fiverr
Fiverr’s mission is to change how the world works together. We exist to democratize access to talent and to provide talent with access to opportunities so anyone can grow their business, brand, or dreams. From small businesses to Fortune 500, around 4 million customers worldwide worked with freelance talent on Fiverr in the past year, ensuring their workforces remain flexible, adaptive, and agile. With Fiverr Business Solutions, large companies can find the right talent and tools, tailored to their needs to help them thrive and grow. On Fiverr, you can find over 700 skills, ranging from AI, to programming and 3D design, digital marketing to content creation, from video animation to architecture.

Fiverr companies include ClearVoice, CreativeLive, Working Not Working, SLT Consulting and Stoke Talent. Don't get left behind - come be a part of the future of work by visiting fiverr.com, read our blog, and follow us on Twitter, Instagram, and Facebook.

Media Contacts:
Jenny Chang
Tommy Lee
press@fiverr.com

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¹ *Average figure calculated by taking the percentage of respondents who stated that they are seeing an 'Increase' in 'Hiring freelancers / contingent workers' now compared to last year across three samples of marketing, finance, and IT executives in 2024.'

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb5c0e79-b04c-40e1-87c0-86d151d0f47f

FAQ

When will Fiverr's (FVRR) Dynamic Matching be available to all users?

Fiverr's Dynamic Matching will be fully launched in early 2025. Currently, it's in beta and only available to PRO users.

How long does it take to receive freelancer proposals through FVRR's Dynamic Matching?

Through Fiverr's Dynamic Matching, qualified freelancers will send personalized proposals within approximately one hour.

What percentage of executives plan to increase freelancer hiring according to Fiverr's data?

According to Fiverr's data, over 57% of executives across industries like marketing, finance, and tech plan to increase freelancer hiring this year.

How does Fiverr's (FVRR) new Dynamic Matching system work?

The system works in four steps: 1) Sharing project brief with AI assistance, 2) Finding matching freelancers, 3) Receiving custom offers within an hour, and 4) Choosing the preferred freelancer.

Does FVRR's Dynamic Matching use pure AI or human expertise?

Fiverr's Dynamic Matching combines both AI technology and human expertise, with a dedicated team of experts reviewing matches to ensure quality and precision.