International Business Machines (NYSE: IBM) has found its footing in the AI market by focusing on enterprise customers with complex requirements. The company's watsonx platform caters to companies and organizations that need to train, tune, and deploy AI applications while minding regulatory, legal, and other concerns.

This strategy is going well for IBM so far. The company has a book of business related to watsonx and generative AI that tops $1 billion, and this figure is growing with each passing quarter. Consulting rather than software accounts for the lion's share of the AI business, positioning IBM to provide not only an AI platform but also guidance and help with implementation.

IBM's AI software doesn't solely live on its own cloud platform. One of the core strengths of IBM's business model is an agnosticism toward other technology vendors. IBM's consulting arm is free to craft solutions that involve products and services from a network of strategic partners. These partnerships bring in billions of dollars worth of business that IBM likely wouldn't win otherwise.

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Source Fool.com