Wix CEO Avishai Abrahami has expressed skepticism about AI's ability to replace human jobs, calling the tech industry's hype around AI 'overblown.' In an interview on the '20VC' podcast, Abrahami said AI is not yet capable of handling complex tasks effectively. 'I think we all give too much credit for AI and what it can do,' he stated. Wix's shares have dropped nearly 50% this year amid broader concerns about AI-powered software eroding traditional business models.
Abrahami highlighted limitations in AI-powered tools, including vibe coding, a visual coding platform Wix acquired for $80 million. He noted that while AI can assist in some areas, it struggles with detailed tasks. 'You try to build anything very complicated, it's hard when you're trying to do visual editing. It's really annoying,' he said. Wix has invested $200 million into Base44, the vibe-coding platform, but Abrahami acknowledged its imperfections.
The CEO also shared that Wix had to build its own AI customer support system after being disappointed with off-the-shelf options. He emphasized that AI is not yet advanced enough to replace human workers in many roles. 'I would not be that concerned with LLM replacing every kind of white-collar jobs. It's not that smart. It keeps making silly mistakes. It's not very good,' he said.
Despite the skepticism, Wix has reported double-digit revenue growth from Base44, positioning it uniquely compared to other software providers facing 'SaaSpocalypse' fears.