International Business Machines Corporation develops enterprise technology across software, consulting, hardware, hybrid cloud, artificial intelligence and quantum computing. News from IBM centers on AI platforms and services, including watsonx, IBM Enterprise Advantage, IBM Consulting Advantage, IBM Sovereign Core, watsonx Orchestrate and Red Hat technologies for hybrid and regulated environments.
Recurring updates also cover IBM Consulting client work, industry and cloud collaborations, research milestones in quantum-centric supercomputing, AI-enabled application experiences, and IBM Institute for Business Value studies on enterprise adoption and governance of AI.
IBM has entered a Strategic Collaboration Agreement with Amazon Web Services (AWS) to provide its software as Software-as-a-Service (SaaS) on the AWS platform. This agreement enables clients to access a wide range of IBM software including automation, AI, and security solutions, built on Red Hat OpenShift Service on AWS. The collaboration aims to enhance customer experience through joint investments in integrated marketing, training, and solution development. Clients can procure IBM SaaS products directly in the AWS Marketplace, allowing for easy setup and integration.
IBM's annual Think conference revealed an ambitious roadmap for quantum computing, aiming for a 4,000+ qubit system by 2025. Key advancements include new modular architectures and intelligent software to optimize performance. The Global AI Adoption Index showed a 35% increase in AI usage among companies, with sustainability goals driving AI adoption. IBM is also undertaking a major ERP transformation with SAP S/4HANA, migrating over 375 TB of data. Additionally, IBM is addressing the cybersecurity talent shortage through partnerships with HBCUs.
Red Hat has partnered with the UK’s Department for Work and Pensions (DWP) to enhance benefits claims processes using open hybrid cloud technology. This collaboration has led to a significant reduction in deployment times for new services from approximately 10 hours to just 15 minutes, a 97.5% decrease. DWP Digital, responsible for delivering IT services, has transitioned to automated processes, enabling quicker responses to policy changes and reducing IT costs. The integration of Red Hat’s solutions has facilitated streamlined access to services and improved efficiency for the 22 million claimants served by DWP.
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The IBM board has declared a quarterly cash dividend increase to $1.65 per common share, payable on June 10, 2022. This marks the 27th consecutive year of dividend increases, with IBM maintaining a dividend payment record since 1916. CEO Arvind Krishna emphasized solid cash generation and the company's commitment to investing in hybrid cloud and AI technologies while providing value to shareholders.
IBM has unveiled new features for its Max Platform, including Max Velocity and Max Alert Live, aimed at enhancing media storytelling and alerting capabilities for severe weather events. Max Velocity allows users to create videos from any location using cloud technology, improving operational efficiency and potentially generating advertising revenue. Max Alert Live will automate notifications for weather alerts, integrating directly with the National Weather Service to enhance public safety. These innovations were showcased at the NAB show in Las Vegas.
IBM (NYSE: IBM) and Red Hat have partnered for a five-year project to modernize the U.S. Department of Education's G5 grants management system using open hybrid cloud technologies. This initiative aims to enhance operational efficiency, improve decision-making through advanced applications, and ensure compliance with future technological advancements. The modernization comes at a crucial time as federal agencies increase grant spending due to the COVID-19 pandemic. The new system will leverage data consolidation and migration to AWS, optimizing the grant-making process for better performance.
IBM has announced the expansion of its annual Think conference, set to take place on May 10-11, 2022, in Boston, followed by international events across more than a dozen cities. The conference aims to reconnect its global community in person after two years of digital-only events, focusing on topics such as data, AI, cybersecurity, and hybrid cloud. Key themes will include AI and automation, cybersecurity threats, and business modernization. The event will feature keynotes, technology demos, and networking opportunities.
IBM reported strong first-quarter 2022 earnings, achieving $14.2 billion in revenue, an 8% increase year-over-year, with hybrid cloud and AI driving growth in Software and Consulting. Software revenue rose 12%, while Consulting grew 13%. Hybrid cloud revenue reached $5.0 billion, up 14%. Free cash flow for the quarter stood at $1.2 billion, with cash on hand totaling $10.8 billion. The company anticipates full-year revenue growth at the high end of the mid-single-digit range, supported by ongoing investments in Kyndryl.
The International Science Reserve (ISR), launched by the New York Academy of Sciences with founding partners including IBM, aims to unite over 1,000 scientists globally to address pressing challenges like pandemics and climate change. The ISR facilitates scientific collaboration, offering resources and conducting readiness exercises. Its Executive Board comprises leaders from various sectors, including IBM and Pfizer. The inaugural focus will be on wildfire prevention, driven by an alarming 60% increase in wildfire risks due to climate change. This initiative seeks to enhance global crisis preparedness.