Anthropic's AI push raises analyst concerns over IT services revenues
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Rapid advances in AI, particularly from Anthropic, are raising concerns among analysts about potential erosion of high-margin application services revenues in the IT sector. Shares of Indian software exporters fell significantly, reflecting fears of compressed project timelines and disruption to labor-intensive business models. Jefferies warned of growth pressures, while JPMorgan suggested the selloff may be overdone, arguing that not all enterprise software will be replaced by new AI tools. Kotak Institutional Equities described the market reaction as excessive panic.
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