IBM's Generative AI Business Is Small but Booming
International Business Machines (NYSE: IBM) has long been an AI innovator, but the iconic tech giant has historically struggled to turn AI into a bona fide business.
IBM's Watson AI system famously beat top-tier Jeopardy! champions in 2011, a feat that came more than a decade before OpenAI's world-changing ChatGPT. Attempts to parlay that accomplishment into revenue and profit, however, largely came up empty. Watson Health, IBM's high-profile play at using its Watson AI technology to transform the healthcare industry, was eventually sold off to a private equity firm.
In the age of generative AI, IBM is taking an approach that better meshes with its overall strategy. The company has repurposed the Watson name for its watsonx platform, which is aimed at enabling enterprise customers to train, deploy, and manage AI applications and models. Paired with its consulting business, IBM offers an easy way for large companies and organizations with strict requirements to adopt generative AI technology.
Source Fool.com
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