Shares in Atlassian experienced a significant downturn, plummeting 8 per cent in New York trading. This decline extends the company’s recent losses, with shares down more than 18 per cent over the past five days and over 45 per cent for the last month. Atlassian is an Australian software company that develops products for software developers and project managers. Its tools include Jira, a project management software, and Confluence, a collaboration tool.
The broader sell-off impacting Atlassian also affected a wide range of software stocks. This market movement coincided with the release of a report from Citrini Research. The report raises questions about the potential impact of artificial intelligence on the software sector.
Citrini Research prefaced their report by stating that its purpose was to model a relatively underexplored scenario. The authors expressed hope that the analysis would better prepare readers for potential risks as AI continues to evolve and influence the economy.
The report then presents a hypothetical scenario set in June 2028. This scenario details the progression and consequences of what they term the ‘Global Intelligence Crisis,’ outlining a potentially disruptive future shaped by advancements in artificial intelligence.
