IBM sees a strong future for AI and is investing heavily in both the technology and automation to drive it. Hybrid cloud is another key area for the company as it continues to capitalize on its Red Hat assets.
According to Krishna, about 35 percent of companies are now using some form of AI in their business, and many of these are using AI and automation to address demographic shifts and move employees to higher-value work. But IBM beat its estimates for this quarter, bringing in $15.5 billion in revenue, up 9 percent year-on-year. The company said it was confident it would be able to deliver full-year revenue growth for 2022 towards the high end of its mid-single-digit prediction.
Solid FOREX reserve loss too
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