Anthropic's AI Tool Launch Triggers Global Software Stock Selloff Amid Disruption Fears

Anthropic's launch of Claude Cowork, an AI platform with 11 new plugins automating tasks across legal, sales, marketing, and data analysis, triggered a sharp global selloff in software and IT stocks. Indian IT firms like Infosys, TCS, and Wipro saw significant market value losses amid fears that AI could disrupt traditional software and outsourcing models. While some experts warn of potential job displacement and revenue risks, others, including Cognizant's CEO, argue that AI adoption is complex and its economic impact on enterprises remains gradual and uncertain.