International Business Machines Corp - IBM STOCK NEWS

IBM is set to hold a quarterly conference call to discuss its first-quarter 2023 financial results on April 19, 2023, at 5:00 p.m. ET. Investors can access the live webcast at www.ibm.com/investor, where the earnings press release will also be available before the call.

A replay of the earnings call, along with related charts and prepared remarks, will be accessible following the event.

Virtual Technologies Group (VTG), based in Maumee, Ohio, has appointed Dean J. Marsh as its new CEO, effective April 4, 2023. Marsh brings over 30 years of experience in the IT sector, including roles at Accenture, Dassault Systemès, and IBM. His appointment is a strategic move to drive VTG's growth following an investment from Jacmel Growth Partners in September 2022. Marsh aims to enhance the company's market reach and further develop its cloud and IT offerings. President Tom Allen and Chief Revenue Officer Mike Curtis will continue to support Marsh in this transition.

IBM has highlighted the efforts of Lakshmi Dhanabalan, who has been mentoring students at a school for the hearing impaired in India. Through her volunteer work, she has conducted reading sessions, organized exams, and led financial support initiatives, aiming to enhance career skills for young learners. IBM continues to foster a culture of giving among its employees as part of its broader strategy to utilize technology for social impact, especially in the realms of AI and cloud computing.

IBM and Wasabi Technologies announced a collaboration to enhance data management across hybrid cloud environments, with the Boston Red Sox as the first client to utilize IBM Cloud Satellite and Wasabi hot cloud storage. This partnership aims to improve operational efficiency and real-time data access, crucial for decision-making. The Red Sox plan to leverage these technologies for storing player video, analytics, and IoT data, enhancing their digital strategy for better fan experiences. This collaboration reflects IBM's commitment to delivering secure and flexible cloud solutions, alongside Wasabi's cost-effective storage options without egress fees.

IBM hosted a significant side event on March 28, 2023, at the United Nations Water Conference to present updates on projects focusing on water and sustainable agriculture. The event, titled "Water Management Innovation for Underserved Populations," featured discussions with leading water innovation experts emphasizing the necessity of partnerships in driving environmental sustainability initiatives. These efforts are part of IBM's pro-bono Sustainability Accelerator, aimed at supporting vulnerable communities. The session highlighted the impact and innovation potential of these initiatives in enhancing water management.

IBM has unveiled new features for the Masters Tournament, including AI-generated spoken commentary and hole-by-hole player predictions. The AI commentary will narrate over 20,000 video clips, enhancing the user experience through personalized insights. Using over 120,000 golf shots data, the predictions will update player scores dynamically throughout the event. This partnership aims to leverage IBM's hybrid cloud and AI technology to improve fan engagement, marking over 25 years of collaboration with the Masters. The new 'Let's create' campaign titled 'What if?' will launch on April 5, further promoting technological innovation in the sport.

IBM highlights the urgent need for improved water resource management amid growing global water stress affecting 2.3 billion people. The company leverages AI and sustainability solutions to reduce non-revenue water losses, estimated at 45 million cubic meters daily, worth over $3 billion annually. Through technologies like the IBM Maximo and TRIRIGA Application Suites, municipalities can monitor water infrastructure and manage leaks effectively. IBM's commitment includes supporting projects through the IBM Sustainability Accelerator to improve equitable access to clean water and enhance water quality. Their initiatives demonstrate a long-term strategy for environmental responsibility.

IBM is inviting proposals for the next cohort of its Sustainability Accelerator, focusing on water management solutions. This initiative leverages technologies like hybrid cloud and artificial intelligence to support vulnerable populations affected by environmental challenges. With over 2 billion people living in water-stressed areas, the program aims to improve access to safe drinking water, enhance water quality, and increase efficiency. Non-profits and government bodies can apply by the end of May 2023, with selected projects announced in November 2023.