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Upwork: Product Developments: Difference between revisions
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=== 2023 === | === 2023 === | ||
* July 31, 2023: '''Upwork partners with OpenAI''' to provide businesses with expert-vetted talent who are versed with OpenAI technologies. The "OpenAI Experts on Upwork" hub, co-designed by OpenAI and Upwork, features Upwork talent who are equiped with more than 250 unique AI skills. OpenAI Experts is an extension of the recently launched AI Services hub. The two companies notes that the most used cases of OpenAI by customers include building models powered by large language models(LLMs), fine-tuning those models as well as building AI chatbots. As part of the partnership, Upwork and OpenAI also came up with a vetting process that will be used to identify freelancers to include in the program<ref>https://investors.upwork.com/news-releases/news-release-details/upwork-and-openai-partner-connect-businesses-openai-experts</ref>. | |||
Moritz's assessment: Unfortunately, OpenAI did not announce the partnership (neither on their Website nor on Twitter) and does not seem to have integrated a link to Upwork in any other place. Additionally, the talent pool of pre-vetted talent is incredibly small. As of now, there are only 24 talents on Upwork’s dedicated OpenAi website. I am a bit unsure if we should treat the fact that they have a full press announcement about a product that is in such an early stage as a small negative indicator. (We need at least to be wary about other press announcements and have a close look how advanced those products are) | |||
* July 11, 2023: '''Upwork launches new generative AI tools and services hub''' to make it easy for businesses to find AI talent and for freelancers to find AI opportunities. The company said that weekly job posts related to generative AI have grown by over 450% year-over-year. Starting today also, Upwork will offer talent an exclusive 30-day free trial of Jasper generative AI services "for copywriting, marketing, and image creation." Upwork is also launching AI beta features powered by OpenAI, which include Job Post Generator, Upwork Chat, Proposal Tips, and Additional Resources<ref>https://investors.upwork.com/news-releases/news-release-details/upwork-launches-new-generative-ai-tools-and-services-hub</ref>. | |||
February 13,2023: '''Upwork expands to support full-time hiring.''' The new end-to-end solution enables businesses of all sizes to find, vet, hire, onboard and pay highly skilled professionals for full-time work arrangements, without the complexity commonly associated with global hiring. The end-to-end solution features: (1)Contract-to-hire working relationship-since the beginning of 2023, clients testing this feature have posted over 40,000 contract-to-hire jobs on the Upwork marketplace. (2)Expanded availability of Upwork’s world-class payroll, compliance and contract management tools – formerly reserved for Enterprise Suite clients – to help small and mid-size businesses classify and pay talent. (3)Enhanced Enterprise Suite capabilities for large businesses to classify, hire and pay full-time talent at scale -Upwork added that its research shows that 93 percent of hiring managers often or occasionally convert freelancers into full-time employees<ref>https://www.upwork.com/press/releases/upwork-expands-to-support-full-time-hiring</ref>. | Aron's assessment: Upwork added generative AI to Data Science and Analytics job category<ref>https://support.upwork.com/hc/en-us/articles/13844466914451-Updates-to-Categories-Feb-9-2023-</ref>. '''However, the impact on Data Science and Analytics jobs has not been seen yet'''<ref>https://www.investmentwiki.org/wiki/Upwork:_Tracking_of_Jobs_At_risk_of_Automation_By_AI</ref>'''.''' | ||
* February 13,2023: '''Upwork expands to support full-time hiring.''' The new end-to-end solution enables businesses of all sizes to find, vet, hire, onboard and pay highly skilled professionals for full-time work arrangements, without the complexity commonly associated with global hiring. The end-to-end solution features: (1)Contract-to-hire working relationship-since the beginning of 2023, clients testing this feature have posted over 40,000 contract-to-hire jobs on the Upwork marketplace. (2)Expanded availability of Upwork’s world-class payroll, compliance and contract management tools – formerly reserved for Enterprise Suite clients – to help small and mid-size businesses classify and pay talent. (3)Enhanced Enterprise Suite capabilities for large businesses to classify, hire and pay full-time talent at scale -Upwork added that its research shows that 93 percent of hiring managers often or occasionally convert freelancers into full-time employees<ref>https://www.upwork.com/press/releases/upwork-expands-to-support-full-time-hiring</ref>. | |||
Aron's assessment: Full-time hiring product looks interesting as it will help the company dive into a new niche that hasn't been exploited by competitors. With its tools, it can pull it off. Hayden Brown acknowledged in Q1 2023 earnings call that the product is seeing positive adoption. However, she noted that it is too early to see its impacts<ref>https://www.investmentwiki.org/wiki/Upwork:Quarterly_Results/2023_Q1#Full-time_Hiring</ref>. Our data points to positive uptake of contract-to-hire roles<ref>https://docs.google.com/spreadsheets/d/1HEX9PT_YXkz-eua9tR-FFx-s6gAr-7ZoTmbW8RbRqYE/edit?pli=1#gid=1524496488&range=Y67:Z80 | Aron's assessment: Full-time hiring product looks interesting as it will help the company dive into a new niche that hasn't been exploited by competitors. With its tools, it can pull it off. Hayden Brown acknowledged in Q1 2023 earnings call that the product is seeing positive adoption. However, she noted that it is too early to see its impacts<ref>https://www.investmentwiki.org/wiki/Upwork:Quarterly_Results/2023_Q1#Full-time_Hiring</ref>. Our data points to positive uptake of contract-to-hire roles<ref>https://docs.google.com/spreadsheets/d/1HEX9PT_YXkz-eua9tR-FFx-s6gAr-7ZoTmbW8RbRqYE/edit?pli=1#gid=1524496488&range=Y67:Z80 | ||
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* Upwork introduced new applications such as biometric authentication feature, advanced search, personalized talent recommendations, etc<ref name=":1" />. | * Upwork introduced new applications such as biometric authentication feature, advanced search, personalized talent recommendations, etc<ref name=":1" />. | ||
* Made connections in Upwork community stronger by improving private messages and community search. It also launched community blog<ref name=":1" />. | * Made connections in Upwork community stronger by improving private messages and community search. It also launched community blog<ref name=":1" />. | ||
=== 2020 === | |||
* Upwork launched '''Direct Contracts,''' a functionality that enables Upwork talent to enter into contracts with non-Upwork clients. Direct contracts offer safety and security features. Freelancers using Direct contracts will pay a 3.4% payment processing fee<ref>https://community.upwork.com/t5/Product-Release-Notes/Direct-Contracts-now-live-for-all-freelancers/ba-p/733448/page/8</ref>. | |||
* October 27, 2020: Launched '''Project Catalog in beta version'''<ref>https://investors.upwork.com/news-releases/news-release-details/upwork-launches-project-catalogtm-new-way-businesses-and</ref>'''.''' It was launched a month earlier than planned, across 300 merketplace categories<ref>https://investors.upwork.com/static-files/1603e05b-a630-4a53-bd39-ba2da988ffe6</ref>. | |||
* May 11, 2020: Upwork enhanced '''Bring Your Own Talent(BYOT)''', a feature available to Enterprise clients. BYOT enables enterprise clients to bring non-upwork contingent workers into the platfom and leverage tools such as payrolls, cost management and collaboration tools<ref>https://www.upwork.com/press/releases/upwork-announces-enhancements-to-on-demand-remote-talent-platform-for-enterprises</ref>. In Q4 2020 Upwork said in the prepared remarks, " We '''landed a global tech firm that onboarded over a thousand freelancers, running over $1 million through this BYOT product all within Q4.'''"<ref>https://investors.upwork.com/static-files/1603e05b-a630-4a53-bd39-ba2da988ffe6</ref> | |||
* November 10, 2020: '''Upwork partnered with Zoom''' to integrate Zoom's video and communication tool to Upwork platform<ref>https://www.upwork.com/press/releases/upwork-joins-forces-with-zoom-to-provide-best-in-class-video-calling-in-the-worlds-largest-work-marketplace</ref>. | |||
=== 2019 === | |||
* March 19, 2019: Upwork launched '''Upwork Plus''', its first packaged service offering tailored for small businesses. It features on-demand support, greater visibility for job posts, and dedicated darshboard for collaborations<ref>https://www.upwork.com/press/releases/upwork-plus</ref>. | |||
* March 2019: Upwork launched '''Upwork Business''' for mid-market businesses<ref name=":2">https://investors.upwork.com/static-files/d17fffdd-a594-4b95-b3fd-40b6772c9df4</ref>. | |||
* Launched '''Upwork freelancer and client apps'''<ref name=":2" />'''.''' | |||
* Launched '''Bring-Your-Own Agency feature''' to Upwork Enterprise customers<ref name=":2" />. | |||
== References == | == References == | ||