BENGALURU: Indian software exporters plunged another 2% on Friday and looked set to end a tumultuous week that has seen $22.5 billion in market value losses on growing fears that new AI tools could severely disrupt the country's IT outsourcing industry.
The selloff was part of a global rout in software and data services stocks, triggered by the launch of an AI tool from Anthropic that automates tasks across legal, sales, marketing and data analysis functions.
