Nvidia's Huang dismisses fears AI will replace software tools as stock selloff deepens
Nvidia's Jensen Huang says AI will rely on existing software tools rather than replace them. - REUTERS/Filepic
Nvidia CEO Jensen Huang dismissed fears that artificial intelligence will replace software and related tools, calling the idea "illogical", after a significant selloff in global software stocks on Tuesday.
AI Brief
- Anthropics new AI release triggers fears that AI could disrupt software and services, sparking a broad selloff in Asian tech stocks.
- Nvidia's Jensen Huang dismisses concerns, saying AI depends on existing software tools rather than replacing them.
- Software and IT stocks in India, China and Japan suffer sharp declines, with major firms posting steep losses.
Speaking at an artificial intelligence conference in San Francisco hosted by Cisco Systems Huang said worries that AI will make software companies less relevant are misguided and AI will continue to rely on existing software rather than rebuild basic tools from scratch.
"There's this notion that the tool in the software industry is in decline, and will be replaced by AI ... It is the most illogical thing in the world, and time will prove itself," Huang said.
"If you were a human or robot, artificial, general robotics, would you use tools or reinvent tools? The answer, obviously, is to use tools ... That's why the latest breakthroughs in AI are about tool use, because the tools are designed to be explicit."
Shares of Indian IT exporters .NIFTYIT slumped 6.3% on Wednesday, tracking losses in global software stocks. Tech services firm Infosys was among the biggest losers, plunging 7.3%.
China's CSI Software Services Index .CSI930601 also fell 3%, while in Hong Kong, shares of software company Kingdee International Software Group tumbled more than 13%.
In Japan, staffing agency Recruit Holdings and Nomura Research tumbled 9% and 8%, respectively.
Must-Watch Video
Stay updated with our news