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Yesterday, there was a huge sell-off of IT stocks globally, which included our stocks like TCS, Infosys, etc. Why? Because Anthropic's latest AI is designed to handle routine legal work such as contract checks, non-disclosure agreement reviews, legal summaries, and standard drafting tasks.
This is like half the work freshers in law firms and in-house roles do. Fresher hirings are low as it is, and it appears to only be hit further going ahead.