Citrini Research Report Shakes Markets: Mass Layoffs, Economic Crisis Predicted

• Citrini Research's 'The 2028 Global Intelligence Crisis' report has rattled global investors, causing significant market drops for tech giants like IBM, Wipro, Infosys, and TCS.
• Founded in 2023 by James van Geelen and co-authored by Alap Shah, the report is a scenario study, not a prediction, exploring potential outcomes if current AI rollout continues.
• The report paints a bleak picture for India, suggesting the rupee will depreciate and the IT sector, built on cost-effectiveness, will shrink due to AI disrupting coding.
• It forecasts mass layoffs, particularly for white-collar workers, with AI creating new, lower-paying roles while rendering many obsolete.
• Co-author Alap Shah suggests an AI tax to offset disruption, fund social frameworks, and prepare for increased market volatility.