The head of Nvidia has brushed off concerns that AI is on track to replace software.
CEO Jensen Huang addressed the concerns this week, after considerable selloffs across global software stocks, saying that AI replacing software is “illogical”.
Shares of Indian IT exporters fell by 6.3% earlier this week, shares in Hong Kong-based software company Kingdee International Software Group plunged by more than 13% and in Japan, HR tech company Recruit Holdings dropped by 9%.
At an AI conference in San Francisco, Huang spoke on the concern of software and related tools being made obsolete, in no uncertain terms, making it clear he did not think it would happen.
"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," he 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.”
Nvidia closed lower on Wednesday (Thursday AEDT), trading down 3.41% to US$174.19. The company maintains a market capitalisation of $4.23 trillion.
