AI Threat: Anthropic's New Tool Wipes Out Rs 2 Lakh Crore from Indian IT Giants

• US AI company Anthropic launched new AI tools for its Claude Cowork assistant, designed to automate routine corporate tasks.
• The launch, particularly the Claude Legal agent, sparked fears that AI could replace traditional software and outsourcing services.
• This led to a global tech stock sell-off, wiping out nearly Rs 2 lakh crore from top Indian IT stocks like Infosys, TCS, HCLTech, Tech Mahindra, and Wipro.
• Anthropic's plugins target various functions including legal, sales, marketing, finance, and data analysis, raising alarms across the software ecosystem.
• Despite Anthropic clarifying that the tool doesn't provide legal advice and requires human review, investors reacted strongly, fearing reduced demand for existing services.