‘SaaSpocalypse’: What is Anthropic’s newest AI tool and what are the consequences for global tech companies?

Global software and IT stocks suffered a sharp selloff after Anthropic unveiled new AI tools capable of automating legal, sales, marketing and data analysis tasks. Fears that AI may replace—rather than support—software firms triggered what analysts call a “SaaSpocalypse,” wiping out billions in market value across the US, Europe and India.