Shares of Indian IT giants plunged sharply recently following the launch of an advanced AI tool suite by U.S. start-up Anthropic, sending ripples through global markets. The announcement triggered widespread investor concern that powerful AI systems could disrupt traditional software service models and reduce reliance on large human workforces — especially in sectors long driven by labour-intensive IT services. What Caused the Market Reaction? Anthropic, a San Francisco-based artificial intelligence company known for its Claude family of large language models, unveiled a suite of workplace automation plugins under its Claude Cowork platform. These tools are designed to automate complex tasks across legal work, sales, data analysis, marketing, and other professional functions — areas traditionally served by large software teams and outsourcing providers. The launch raised investor fears that such AI systems could start replacing work that human teams currently perform — prompting concerns over future revenues for companies whose business models depend on selling software, services, and outsourced labour. Analysts described the situation as a potential “SaaSpocalypse,” highlighting a fear that AI could make some traditional software roles obsolete rather than just complementary. Indian IT Stocks Bear the Brunt The impact quickly showed up on Dalal Street. India’s NIFTY IT… Read MoreBusiness Archives – Trak.in – Indian Business of Tech, Mobile & Startups
