Israeli freelance services and gig economy platform Fiverr international (NYSE: FVRR) has launched an artificial intelligence (AI)-based logo maker. The product, Fiverr Logo Maker, enables Fiverr's users to create logos in different configurations with the help of automated tools developed by Fiverr. Fiverr says that the product will enable small businesses to create and design a brand packaged adapted to the business, including a logo in range of variations and other marketing tools, in seconds.
Fiverr says that the logos are based on work by brand designs adapted and changed using AI to adapt them to the buyer's preferences. The company claims that the power of a product lies in combining creative work by members of the community with intuitions of the AI algorithm in order to quickly create diverse logos and brand packages adapted to different types of businesses.
Fiverr founder and CEO Micha Kaufman says, "The idea that artificial intelligence will eliminate many jobs in the future is outdated. Automation will not displace human imagination and creativity, rather, the technology’s impact will be in supporting and enhancing fundamental human capabilities. The future of work is one where AI supports more people, to create more with less effort. As a company that puts our community first, we believe our approach to building smart AI tools not only supports their efforts in delivering exceptional work, but also bolsters their opportunities for work and earning potential."
Fiverr, which held its IPO on NYSE in 2019, has a current market cap of $810 million. The company will publish its financial results for 2019 later this week. Analysts predict that it will report an $0.81 non-GAAP net loss per share on $106 million in annual revenue.
Published by Globes, Israel business news - en.globes.co.il - on February 16, 2020
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