Cognizant CEO reacts after Anthropic Claude Cowork crashes SaaS stocks, says AI is not magic
India Today
As markets panic over Anthropic's latest AI tools, Cognizant CEO Ravi Kumar S pushes back, saying AI adoption in enterprises is complex, gradual and far from a magic switch.
When global markets turned jittery after Anthropic’s latest AI announcements, Indian IT stocks felt the shock almost immediately. In a single session, fears around faster automation and shrinking demand for traditional IT services erased close to Rs 2 lakh crore in market value. Investors worried that tools like Anthropic’s Claude Cowork could suddenly make large parts of IT services redundant.
Amid this anxiety, Cognizant stepped forward with a message that cut against the prevailing panic. Speaking at the company’s post-earnings press conference on February 4, CEO Ravi Kumar S argued that the narrative around AI instantly replacing enterprise work is deeply flawed.
Kumar directly addressed the belief that advanced AI tools can simply be deployed inside companies and start delivering results overnight. According to him, that assumption ignores how enterprises actually function.
“A tool or a technology would be plugged into an enterprise landscape, and magically, there will be output coming out of it. If that's the case, why hasn't that value drifted into enterprises over the last three years (since OpenAI launched ChatGPT),” he said.
Kumar’s point was simple but pointed. If AI were truly a magic switch, enterprises would already be seeing massive economic gains. Instead, most of the value, he argued, is still sitting with infrastructure providers rather than flowing into business outcomes.
The Cognizant CEO explained that AI adoption is far more complex than headlines suggest. Enterprises do not operate in clean, isolated environments. They run on legacy systems, tightly coupled workflows, regulatory constraints and human decision-making.
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