Tech workers and their bosses are both concerned about the AI tidal wave threatening their jobs. Stocks plummeted as fears grew about AI advancements impacting software, data, and professional services companies, including Thomson Reuters, LegalZoom, Intuit, and Equifax. The introduction of Anthropic’s AI-powered productivity suite, Claude Cowork, has caused significant market losses.

Unlike Claude Code for developers, Claude Cowork is a powerful AI agent for non-coders, capable of handling tasks like file organization and creating reports. Anthropic’s update introduced new plug-ins to automate tasks in finance, legal, sales, marketing, and customer support, sparking nervous jokes about AI replacing humans.

The market is grappling with the existential threat posed by Anthropic’s AI capabilities to software-as-a-service (SaaS) companies that support the economy. Anthropic’s CEO predicted AI could eliminate half of entry-level white-collar jobs within five years, affecting industries like tech, law, consulting, and finance. The need for transparency about AI’s impact is emphasized.

Read more at Yahoo Finance: Why one Anthropic update wiped billions off software stocks