Nvidia CEO says stock market is wrong, AI agents like Claude Cowork will not replace legacy software tools
India Today
Anthropic's Claude Cowork rattled stock markets a few days ago, raising fears that AI could soon replace software companies. However, Nvidia CEO Jensen Huang says that the market got it wrong and presented an alternate scenario.
The past couple of weeks have been tough on the software industry. Anthropic, the company behind Claude Cowork, has rattled the stocks of many SaaS companies, such as TCS and Infosys. Investors seemingly fear that tools like Claude Cowork can entirely replace such companies in the future. However, Nvidia CEO Jensen Huang believes that the stock market has got the entire scenario wrong.
The Nvidia chief was asked about the fears that legacy software companies could be replaced by AI. He told CNBC, “I think the markets got it wrong.” Rather, according to Jensen, AI will not replace software tools, but use it on behalf of humans.
Jensen Huang explained that he predicts a future where instead of humans using AI tools, it will be AI agents that do the work for us. He added, “That’s the reason why we also say agents are tool users.”
According to the Nvidia CEO, legacy software tools such as SAP or ServiceNow will remain in place as they “exist for a fundamentally good reason.” He added that the AI “will be intelligent software that uses these tools on our behalf and help us be more productive.”
Huang reckoned that no AI will be able to be more efficient than these software tools that are used across industries. Instead AI will leverage these tools to complete tasks. He stated, “In the end, we need the tools to finish their work and put the information back in a way that we can understand.”
This is not the first time Jensen has made such claims. Earlier this month he said that the notion of the software industry being replaced by AI was the “most illogical thing in the world, and time will prove itself.”
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