New Delhi, Feb. 24 -- At a time when tech stocks are falling globally amid heightened uncertainties surrounding the impact of artificial intelligence (AI) on software companies, global financial firm HSBC believes AI will not kill the software industry, but the latter will be the primary mechanism for the diffusion of AI across the world's largest enterprises.

HSBC, in its report on February 24, emphasised that "software is how the world's largest companies controllably leverage AI."

Tech stocks have witnessed a massive selloff lately, especially after the launch of Anthropic's Claude, seen as a major disruptor across several industries, including IT. On Tuesday, February 24, the Nifty IT index crashed by almost 5%, bringing its Februar...