AI Legal Expert Shakes Markets: Anthropic's Plugin Wipes Out $285 Billion from Tech Stocks

• Anthropic's new AI plugins, particularly the legal one for 'Claude Cowork', have caused a significant market stir, wiping out $285 billion globally.
• Indian IT giants like TCS, Infosys, HCL Technologies, Tech Mahindra, and Wipro collectively lost over 2 lakh crore rupees in market capitalization.
• The legal plugin, capable of quickly reviewing and correcting contracts, led investors to believe the need for large legal software companies would diminish.
• Claude Cowork acts as an "AI legal assistant," automating tedious tasks like contract review, understanding scanned PDFs via OCR, and even drafting legal language.
• Global legal tech and software companies, including Thomson Reuters, LegalZoom, Relx, Salesforce, Adobe, and ServiceNow, saw significant stock declines.