Summary Background and objectives Artificial intelligence was shown to improve diagnostic accuracy for skin cancer detection. While most clinically approved models provide binary “benign/malignant” classifications, multiclass predictions may offer greater clinical utility. Yet, comparisons between multiclass convolutional neural networks (CNNs) and dermatologists are scarce. Methods In an international web‐based reader study, dermatologists (n = 96) and a prototype multiclass CNN (FotoFinder Systems, Germany) assigned diagnoses to 100 skin lesions by using nine disease categories (melanoma; basal cell carcinoma; squamous cell carcinoma; intraepithelial carcinoma; melanocytic nevus; benign keratinocytic lesion; dermatofibroma; vascular lesion; “other”). The main outcome measure was overall mean sensitivity (micro‐averaged percentage of correct diagnosis) of dermatologists versus multiclass CNN. Results Dermatologists achieved an overall mean sensitivity (95% CI) of 69.4% (68.4%–70.3%) with dermatoscopy‐only data (level‐I), which improved to 76.0% (75.2%–76.9%) when provided with full clinical information (level‐II). The CNN's top‐rank predictions showed a higher overall mean sensitivity of 82.0% (73.3%–88.3%). The CNN significantly outperformed all dermatologist subgroups, except for dermatoscopy experts at study level‐II (overall mean sensitivity 81.1% [79.9%–82.3%], p equivalence = 0.0085). Conclusions Multiclass CNN predictions outperformed most dermatologists in diagnostic accuracy, supporting their potential to enhance clinical decision‐making, particularly in settings with limited dermatological expertise.