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 announced an agreement to acquire Nordcloud, a leading European cloud services provider, boosting its cloud migration and transformation capabilities. With headquarters in Helsinki, Nordcloud is recognized for its expertise in public cloud services and is triple certified by Amazon Web Services, Google Cloud Platform, and Microsoft Azure. This strategic acquisition aims to enhance IBM's hybrid cloud platform by integrating Nordcloud's tools and methodologies. The transaction is expected to close in Q1 2021, with financial details undisclosed.
IBM (NYSE: IBM) has launched the IBM Security Homomorphic Encryption Services, enabling companies to experiment with fully homomorphic encryption (FHE). This advanced technology allows data to remain encrypted during processing, addressing security vulnerabilities in cloud environments. With FHE, sensitive data can be analyzed without exposing it, aligning with compliance and privacy regulations. The service includes expert support, a testing environment, and tools for developing applications leveraging FHE, which Gartner predicts will see a budget increase to 20% by 2025 from less than 1% today.
IBM has elected Arvind Krishna as chairman of the board, effective January 1, 2021. Krishna, who is also the CEO, succeeds Virginia M. Rometty, retiring on December 31, 2020. Since becoming CEO in April 2020, Krishna has led significant changes, including the planned spin-off of IBM's $19 billion Managed Infrastructure Services business in 2021, aimed at enhancing its focus on hybrid cloud and AI platforms. Rometty, who served as CEO and chairman since 2012, executed strategic transformations, including the $34 billion Red Hat acquisition, positioning IBM for future market leadership.
IBM has acquired Montreal-based fintech company Expertus Technologies, enhancing its position as a digital payments solution provider. This acquisition strengthens IBM's hybrid cloud and AI strategy, allowing for improved payment operations and treasury management.
Expertus' platform processes over $50 billion daily across 1,000 entities globally, providing IBM with crucial consulting expertise in payment modernization. This move taps into the $100 billion consulting opportunity in banking and financial markets, expanding IBM's capabilities to meet evolving regulatory demands and customer needs.
Summary not available.
On December 15, 2020, IBM announced its membership with the Alliance to End Plastic Waste as a Supporting Member. This collaboration aims to develop the Plastics Recovery Insight and Steering Model (PRISM), a data platform hosted on IBM Cloud to track plastic waste globally. The platform will provide actionable data for stakeholders to improve waste management. The Alliance targets USD 1.5 billion over five years to fund projects that create value from plastic waste, with 14 global initiatives currently in progress.
IBM Security has announced new technology initiatives in collaboration with Amazon Web Services (AWS), aimed at enhancing security visibility across AWS and hybrid cloud environments.
This includes improved integrations with AWS security services and support for IBM's security technologies. IBM's QRadar is now available on the AWS Marketplace, allowing advanced security analytics deployment.
Additionally, IBM Security Services has achieved AWS Security Competency, reinforcing its capabilities in managing security across hybrid cloud operations.
IBM has collaborated with eProvenance to launch VinAssure™, a blockchain-based platform for monitoring wine shipments. This platform enhances transparency and accountability throughout the wine supply chain, ensuring the integrity of wines from vineyard to consumer. Utilizing IBM Cloud and advanced technologies, VinAssure™ aids multiple stakeholders, including wine producers and retailers, in optimizing traceability and efficiency. Initial membership includes De Maison Selections, with plans for further participation from major players like Ste. Michelle Wine Estates. The aim is to provide consumers with reliable product information.
IBM has announced new AI capabilities for Watson to enhance automation, natural language processing, and trust in AI outcomes. Key features include a Reading Comprehension system for precise answers from complex documents, FAQ Extraction to automate updates, and a new intent classification model for better user engagement. Additionally, Watson Discovery expands language support with 10 new languages. IBM plans to commercialize 'AI Factsheets' to provide transparency about AI products, helping build trust across industries.
IBM has entered a multiyear agreement with the Port of Los Angeles to establish a Port Cyber Resilience Center (CRC), aimed at enhancing cybersecurity readiness and threat sharing among supply chain stakeholders. The $6.8 million contract will utilize IBM Cloud Pak for Security and X-Force Threat Intelligence. This initiative will automate threat collaboration and improve responsiveness to cyber threats, ultimately supporting the Port's infrastructure investment program. The CRC serves as an early warning system, fostering collective knowledge and improving operational resilience against potential cyber incidents.