Freshworks forecasts annual profit below estimates amid AI-driven software worries

Software development firm Freshworks forecast annual profit below Wall Street estimates on Tuesday, fanning wider concerns around the industry amid advancements in artificial intelligence services.

Shares of the software company fell over 6% in extended trading.

While businesses are adopting AI-driven software from firms such as Freshworks for IT services, workflow automation and customer ‌support improvement, ⁠the new ⁠sophisticated tools from AI firms promising to do the same could threaten their market.