New Delhi, Feb. 25 -- Technology stocks worldwide are experiencing sharp volatility amid concerns over rapid advancements in artificial intelligence (AI) and their potential impact on the broader IT sector.

The Nifty IT index is down 20% so far in February, with stocks like TCS, Infosys, Tech Mahindra, HCL Tech, and Coforge falling 15-25%, amid concerns that AI may render traditional outsourcing services redundant. This is because AI can now write code, deploy systems faster and more efficiently, and even fix bugs.

For example, Anthropic's Claude Code has reportedly shown that AI can automate tasks such as contract review, code testing, and modernising COBOL - an old programming language used on IBM systems. It can analyse thousands of ...