An AI tool has caused chaos in the US market, wiping out over 26 trillion rupees
The US stock market has been shaken by the entry of an AI tool. The reason is Anthropic's new AI tool, which works differently from other AI tools.
Anthropic recently launched some AI plugins. These plugins have wiped out $285 billion (approximately 26,129 billion rupees) from the market. The impact of this AI tool has been most significant on stocks in the software, legal tech, and financial services sectors. In the world of AI, Anthropic is known for its Claude chatbot.
The company launched 11 open-source plugins that will work with Claude's co-working tools. These tools were launched on January 30th. One of these tools targets legal workflows, and this is what has caused the chaos in the market.
What exactly did Anthropic release?
Anthropic's Claude Cowork is an agentic AI assistant that the company launched at the beginning of January. Just as many AI tools are used for writing code, these tools can be used for performing non-coding tasks.
These tools can read files, organize folders, draft documents, and complete multi-step tasks for the user. These plugins were announced last Friday. With their help, companies can tailor Anthropic's Claude AI for specific tasks.
Companies will be able to use these tools by deciding how to perform a task, which tools and data to use, and which tasks to automate. This has impacted the stocks of companies that previously performed these tasks.
Why is there chaos in the market?
In reality, Anthropic hasn't just launched a set of tools; it has discovered a new way of working. Instead of selling models, Anthropic has focused on owning the workflow. Simply put, if Anthropic had only launched an API, companies like Thomson Reuters would have built their services on top of it.
Anthropic recently launched some AI plugins
Thomson Reuters still runs CoCounsel on OpenAI. If Anthropic starts selling ready-made solutions, it will become a competitor to Thomson Reuters, not a service provider. This is the reason for the upheaval in the market.
Summary
While most tools entering the market so far have focused on tasks like coding, this tool targets non-coding work. With its help, companies can automate many tasks.