Global Software Stocks Decline Amid AI Automation Fears Following Anthropic's Launch

Global software and IT stocks have experienced a sharp selloff following Anthropic's launch of Claude Cowork, an AI tool automating tasks across legal, sales, marketing, and data analysis. This development has intensified investor concerns about AI disrupting traditional software service models, leading to significant market value erosion worldwide, including a nearly 6-8% drop in India's Nifty IT index. While some analysts warn of structural revenue risks and margin pressure for established firms like TCS and Infosys, others view the selloff as an overreaction, emphasizing AI's potential to transform rather than eliminate IT services. Investors remain cautious amid ongoing volatility and uncertainty about AI's long-term impact on the sector.