Citrini Research AI Report Spooks Markets, Warns of Job Losses & Economic Crisis

• A hypothetical report by Citrini Research, co-authored by Alap Shah, warns of AI's negative impact on white-collar jobs and the global economy.
• The report, "The 2028 Global Intelligence Crisis," imagines a future where AI expansion leads to white-collar job decline, reduced consumer spending, and a stock market crash.
• It predicts significant disruption for India's IT services sector, with AI coding agents making Indian developers less competitive, potentially leading to a services surplus evaporation and rupee depreciation.
• The report's circulation caused global shares to fall, with the NSE Nifty IT Index dropping 3.6 percent and major Indian tech stocks like Infosys, TCS, and Wipro seeing declines.
• Citrini suggests investors reassess portfolios and calls for proactive measures, including a potential AI tax, to mitigate job losses and economic instability.