No surprise that IBM is betting on watson AI (generative AI)!

CIO.com reported that “IBM’s third-quarter earnings were boosted by enterprises’ interest in generative AI, which drove up its software and consulting revenue.” The October 26, 2023 article entitled “IBM bets on generative AI to escape economic headwinds” (https://www.cio.com/article/657278/ibm-bets-on-generative-ai-to-escape-economic-headwinds.html) included these comments IBM CEO Arvind Krishna since IBM has been a leader in AI since Watson won Jeopardy in 2011:

 Overall, we believe the tailwinds outweigh the headwinds, and technology spend will continue to outpace GDP. In this past quarter, we saw good revenue growth in software and consulting,

Clients are increasingly adopting our watsonx AI and data platform along with our hybrid cloud solutions to unlock productivity and operational efficiency. This is helping drive solid growth in our software and consulting businesses. As a result, we remain confident in our revenue and free cash flow growth expectations for the full year,…

And they reported that “IBM’s total revenue for the quarter ended September grew 4.6% year-on-year to $14.8 billion. Revenue from data and AI was up 6% year-on-year.”

No surprises for watson AI at IBM!