New concerns about the changes that artificial intelligence technology may bring in various sectors are shaking the global market. Following the collapse in the US stock market, Asian markets, including India, also recorded a huge decline today. The new technology released by the American AI startup Anthropic has caused panic in the market. The tool introduced by the company is capable of automating contract reviews, compliance tasks, etc. Investors' fears that this will affect the survival of the IT outsourcing sector in the long term have led to the decline in stock prices. In addition, indications that the Federal Reserve will not cut interest rates soon have also hit the export-oriented IT sector. Asian markets recorded losses today after six consecutive days of gains. While markets in Japan fell sharply, the South Korean market saw a slight advance.
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