IBM's AI Business Booms as Demand for Enterprise AI Solutions Soars
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IBM's AI business is growing rapidly, with its book of business doubling in Q4 2022 to the low hundreds of millions.
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IBM provides AI solutions including its Watson AI platform and consulting services to help clients adopt and implement AI.
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Consulting drives 2/3 of IBM's AI deals by providing expertise in complex enterprise AI implementation.
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IBM aims to leverage its AI software and consulting to help clients work with generative AI and modernize legacy systems.
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IBM's total addressable AI software market is estimated at nearly $300 billion by 2027, presenting a major growth opportunity.