The artificial intelligence (AI) boom is reshuffling the technology industry, minting new winners and leaving others behind. International Business Machines (NYSE: IBM) and Cisco Systems (NASDAQ: CSCO) certainly looked like they were missing the AI boat over the past couple of years, but both companies now have AI strategies that are on track to bring in billions in annual revenue.

Not every company can slap ChatGPT into its employee-facing or customer-facing applications and call it a day. Large enterprises and organizations must deal with regulatory and compliance concerns, keep proprietary and customer data safe, and ensure they don't hurt their brand with a rogue AI agent.

The latest and greatest large language models garner the most headlines, but IBM is playing an important and potentially lucrative role enabling generative AI technology for its enterprise customers. The company's watsonx platform puts a focus on transparency and governance, and its vast consulting business provides the guidance and implementation services necessary for clients to unlock value from AI.

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Source Fool.com