The cloud market is increasingly competitive, and while AWS and Microsoft have been the leaders by market share, we have seen in exact times names like Oracle, IBM, and Google, all ambitiously working to compete in the cloud marketplace with each finding footing as cloud adoption continues to proliferate.
This week at Google Cloud Next ‘22, the tech giant unveiled an array of announcements to its infrastructure, data, workspace, and security offerings while also leaning heavily into several new or expanded partnerships with diverse enterprises that will take customer experiences, from social media to automotive, to the next level. Under the leadership of Google Cloud CEO Thomas Kurian, the company has been aggressively positioning its cloud offering with the ambition of catching the leaders and rapidly scaling the business as it seeks to become not only a large unit within Google, but a profitable one as well.
During the multilocation event, the company’s updates also focused a lot on its successful expansion into several key verticals where it can now claim to service eight or more of the top ten companies in retail, telco, retail banking, and healthcare and life sciences. Serving as both evidence of the growing adoption of multi cloud, but also the company’s successful inroads into more enterprises in a diverse subset of industries.
With Cloud being so competitive, and the leading players all having a diverse set of strategic capabilities, its certain that partnership and customer wins will continue to be a standout metric in Googles growth story. Furthermore, the company was clear that its partnerships are a key differentiator. During Google Cloud Next, there were four of these customer and partnership announcements that caught my attention warranting further analysis.
Social Media and Data Collection. On the social media front, Google Cloud announced an expanded partnership with Snap Inc., the company behind Snapchat. As part of the partnership, Snap will use Google’s data, AI, ML and analytics to keep growing its social machine and make experiences more personalized. Snap will be able to gather insights about its community, ecosystem and partner network — which is crucial data in today’s environment.
Google and Snap have been working together for 10 years now, so the partnership itself isn’t new. What the announcement indicates is another large enterprise with intensive data requirements leaning into Google Cloud more heavily for its analytics and insights capabilities in order to Boost the platform’s user experience—data intensive transitions in the cloud continue to be a sweet spot for Google Cloud.
Transforming 5G Solutions. Social isn’t the only area benefiting from Google Cloud’s capabilities. T-Mobile also recently announced plans to transform customer experience for T-Mobile’s wireless customers using Google Cloud’s analytics, AI, ML, and 5G/edge solutions. The goal is to deliver more personalized and just plain better customer experience to create better (more loyal) relationships with customers. Using Google Cloud’s BigQuery and BigQuery ML, T-Mobile will be better able to predict usage trends and customer sentiment, Boost contact center interactions, and generally take more actions on the insights they receive. All of which, should provide a boost for consumers and T-Mobile both, especially in an industry not typically known for positive customer sentiment. With T-Mobile now serving as the largest wireless carrier in the U.S., this continued alignment can be seen as further market validation for Google Cloud’s claims of winning a share of cloud revenue from the most important companies in the telco industry.
Online Retail Wins Big. Another big move announced within the past two days is Google Cloud’s partnership with Wayfair. Wayfair is already one of the biggest websites in the world for home furnishings. As part of the press release, Google Cloud announced it had already completed a full migration of Wayfair’s former data center apps and services to its cloud platform with 100 percent of its apps and services were moved to Google Cloud. I see this as a big validation for Google, winning the entire enterprise cloud requirement. Wayfair hopes the move will allow it to be more agile, better detect fraud issues and provide a more personalized customer experience. Customer experience is playing a key role here, are you seeing a pattern? The migration was completed in 16 months with zero customer disruption, which is impressive for a company with more than 30 million active customers.
Legacy Pharmacy Embracing the Digital Age. In addition to the above announcements, Rite Aid and Google Cloud announced just yesterday a multi-year partnership to make Rite Aid pharmacies more data-driven and personalized. All of Rite Aid’s apps will move to Google Cloud’s Anthos platform, which is used for things like ML analytics, security, and team collaboration. The company will also be moving its vaccine scheduling app, customer messaging and digital engagement platforms to Google Cloud, something many of us wish it could have done a couple years ago. In other words: Rite Aid is (finally) going all in. They see that the future of customer engagement—even for necessary services like pharmaceuticals and vaccines—is digital and personal. Taking this leap is going to be critical to the company’s long term competitive positioning as we see more and more digital driven healthcare experiences competing with traditional retail offerings.
There’s a lot of information out there now about how AI and ML can help make the customer experience better. Google Cloud’s VP of Retail and Consumer Solutions, Carrie Tharp, recently shared her own perspectives on why these technologies can be so valuable in the retail space. But what it comes down to is that the future of everything customer-facing is here. The entire data ecosystem needs to be available and that means having the data in an open ecosystem with tools that can ingest and quickly generate actions and insights. While the data lifecycle is complex, with the mass of first and third party data available, there are few, if any, good excuses to be made for not understanding what customers want, want they need, or why they aren’t happy. We’ve been talking about customer experience as king for years now, but many companies haven’t taken the leap to use the available tools to put that sentiment into action. Google Cloud’s many exact partnerships provide some insights into the data haves and have nots, and the data continues to prove that the haves will outperform the market nearly every time.
As I see it, Google Cloud was able to effectively demonstrate its technology in action at this year’s Google Cloud Next, and while the advancements in its Data Cloud, Workspace, and Security were all impressive, what struck me the most was the consistent customer wins and partnerships validating the scale of multi cloud adoption and the company’s differentiation that is helping it win more customers whether entering as the second hyperscale cloud or as the primary cloud provider—either way, part of a growing story for Google as it seeks to play a bigger role in the cloud.
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Investors this year increasingly turned away from dividend stocks in favor of the rising yields being offered on bonds. Given that investors can now earn a 4.3% return on a 2-year Treasury note, many prefer that guaranteed return to the risks of putting money into the stock market.
International Business Machines (IBM 1.74%) offers a dividend yield that exceeds that bond return. But with a bear market in progress, are investors better served to take a chance on the cloud stock or to take the 4.3% return at virtually zero risk?
IBM didn't participate in the bull market of the 2010s. The stock dropped as its tech businesses suffered a considerable growth slowdown. In an effort to change that, IBM pivoted into the cloud computing sector aggressively, in part via its $34 billion purchase of Red Hat in 2019. Grand View Research forecasts a compound annual growth rate of 16% through 2030 for the cloud industry. Growth like that could certainly help both IBM and its stock.
Also, IBM spun off its managed infrastructure business into a new public company, Kyndryl. This business was less of a fit with the parent company amid its pivot to the cloud. Separating it off should make it easier for IBM to grow its revenue.
Time will tell if these moves can help the stock price recover. Nonetheless, IBM currently pays its shareholders $1.65 per share every quarter, or $6.60 per share annually. At the current stock price, that adds up to a yield of 5.6% per year. Moreover, depending on your financial situation, the IRS may tax your dividends at a lower capital gains rate, which can offer an added advantage.
Additionally, IBM hiked its payout annually for 27 consecutive years, making it a Dividend Aristocrat. That status carries some importance as many income investors will be more inclined to buy and hold IBM stock because of this status. Also, since abandoning Dividend Aristocrat status tends to hurt a stock, management will probably prioritize maintaining it by continuing to raise those payouts.
Investors also can also reinvest their dividend payments into more IBM stock. However, such newly purchased shares will pay you the dividend yield at that time. The return will rise if the stock falls since investors can buy the exact cash return at a lower price. Conversely, cash yields will drop if the stock rises, but those investors still benefit since the stock has increased in value.
U.S. Treasury notes offer more stability than stocks such as IBM. Investors who purchase the 2-year Treasury note receive semiannual interest payments. At the current interest rate of 4.3%, investors will receive a 2.15% cash return on their invested amount in each of the subsequent three six-month periods. In the fourth period, when the note matures, investors receive the final 2.15% payment along with the return of their principal.
Investors should also be aware that bond values can fluctuate. If interest rates drop, the value of the bond will fall; the opposite will happen if rates rise. This affects investors if they decide to sell the bond early. Upon maturity, the note will return to its par (or nominal) value.
Additionally, bond interest payments are subject to federal income tax but exempt from state and local taxes. In some cases, this is higher than taxes on dividends. Still, bond issuers are obligated to make such payments. In contrast, IBM faces no legal obligation to continue its dividend.
Also, like with a stock, investors can reinvest their interest payments into more notes or other forms of Treasury bonds. However, those purchases will be subject to the prevailing interest rates at that time.
Investors who lack much risk tolerance should choose the Treasury note. Given its guaranteed return, they will not have to worry about volatility.
Nonetheless, for investors comfortable with buying stocks, IBM is a surprisingly strong buy. The cloud industry is in growth mode, which should propel IBM stock to a long-awaited turnaround. Moreover, IBM has repeatedly shown it wants to hold on to its Dividend Aristocrat status. This should provide its income investors returns that are not only larger than the bonds offer, but also likely to increase in size.
IBM, which three years ago acquired Red Hat, is now moving Red Hat OpenShift Data Foundation and Red Hat Ceph, along with their development teams, into IBM Storage as part of a move to make a bigger play in the software-defined and open-source storage worlds.
IBM Tuesday said it has absorbed storage technology and teams from its Red Hat business to combine them with IBM’s own storage business unit as a way to help clients take advantage of the two without requiring extra integration or having to deal with multiple sales teams.
IBM is integrating Red Hat OpenShift Data Foundation with its IBM Spectrum Fusion and will offer Red Hat Ceph-based storage technologies to its clients in a move to continue Big Blue’s software-defined storage leadership, said Brent Compton, senior director of Data Foundation for Red Hat’s hybrid cloud business.
For IBM, which in mid-2019 acquired Red Hat in a $34-billion deal, the move ensures maximum support for Red Hat OpenShift Data Foundation and Ceph, Compton told CRN.
[Related: 2022 Storage 100: Who’s Got Your Backup?]
“OpenShift Data Foundation and Ceph will become a big part of IBM Storage,” he said. “IBM has been looking for a way to take advantage of Ceph and ODF, and now it can.”
Ceph is an open-source software-defined object storage technology with interfaces for object, block and file storage. Red Hat OpenShift Data Foundation is a software-defined container-native storage that provides cluster data management capabilities as part of the OpenShift container platform.
Scott Baker, chief marketing officer and vice president of IBM hybrid cloud portfolio and product marketing, told CRN the move to combine Red Hat and IBM storage technologies sets the stage for growth in the combined software-defined storage portfolio.
“Customers not only get a choice of where storage runs—at the edge, in the cloud, or on-prem—but will find storage software releases will no longer be tied to the timing of storage hardware releases,” Baker said. “For instance, IBM normally enhances its Spectrum Virtualize or Spectrum Scale with new versions of the IBM FlashSystem. But with software-defined storage, we can drive changes quicker if they’re not tied to hardware releases.”
By bringing Red Hat OpenShift Data Foundation and Ceph into IBM, customers get the opportunity to access unified block, file, and object storage without regard to the real underlying hardware, Baker said.
“They can use Ceph to add the right type of storage depending on the protocol they need,” he said. “Ceph and ODF also simplifies how IBM provides data storage and protection. To do all that with IBM’s storage portfolio takes time. With CEF and ODF as part of IBM Storage, this can get done immediately.”
It really is the best of both worlds, as Red Hat customers will also see strong benefits from IBM Storage, Compton said.
“It’s important to note that IBM will continue to offer OpenShift Data Foundation inside the Red Hat OpenShift Platform Plus hybrid cloud platform,” he said. “So if a customer gets pre-integrated OpenShift Data Foundation inside Red Hat OpenShift Platform Plus, it accelerates their time to market. There’s no need to integrate the storage. This will not change.”
Also, Red Hat OpenShift customers have used Ceph to accelerate their time to scale for years, and Red Hat will continue to sell Ceph, Compton said.
“But by moving Ceph to IBM Storage, IBM will accelerate development of the storage-specific features,” he said. “Red Hat is not a storage company. So this will accelerate development of unified capabilities.”
IBM’s storage move makes good on the potential many saw with the company’s acquisition of Red Hat, said John Teltsch, chief revenue officer at Converge Technology Solutions, a Gatineau, Quebec-based solution provider and channel partner to both IBM and Red Hat that ranked No. 36 on CRN’s 2022 Solution Provider 500.
“This is something the channel has been waiting for ever since IBM acquired Red Hat,” Teltsch told CRN. “IBM has been doing a lot around software-defined storage. And when you add in Red Hat, it gives us an integrated solutions play. It lets us build an integrated sales team. We don’t have to first talk about IBM storage capabilities, and then bring in our Red Hat team to talk about Red Hat.”
Converge Technology Partners’ IBM and Red Hat sales teams are currently two separate teams, said Teltsch, who joined the company in March from IBM, where he held numerous sales leadership roles, including two years as Big Blue’s channel chief.
“Once IBM and Red Hat storage are together, it gets more simple to sell,” he said. “And it simplifies our training while IBM will have one integrated set of offerings for its clients. This lets us bring the best of Red Hat open-source capabilities with IBM storage. We’re living in a data-driven world. This move simplifies our go-to-market, as well as simplifies the client experience, client engagement, and client adoption.”
A four-year bachelor’s degree has long been the first rung to climbing America’s corporate ladder.
But the move to prioritize skills over a college education is sweeping through some of America’s largest companies, including Google, EY, Microsoft, and Apple. Strong proponents say the shift helps circumvent a needless barrier to workplace diversity.
“I really do believe an inclusive diverse workforce is better for your company, it’s good for the business,” Ginni Rometty, former IBM CEO, told Fortune Media CEO Alan Murray during a panel last month for Connect, Fortune’s executive education community. “That’s not just altruistic.”
Under Rometty’s leadership in 2016, tech giant IBM coined the term “new collar jobs” in reference to roles that require a specific set of skills rather than a four-year degree. It’s a personal commitment for Rometty, one that hits close to home for the 40-year IBM veteran.
When Rometty was 16, her father left the family, leaving her mother, who’d never worked outside the home, suddenly in the position to provide.
“She had four children and nothing past high school, and she had to get a job to…get us out of this downward spiral,” Rometty recalled to Murray. “What I saw in that was that my mother had aptitude; she wasn’t dumb, she just didn’t have access, and that forever stayed in my mind.”
When Rometty became CEO in 2012 following the Great Recession, the U.S. unemployment rate hovered around 8%. Despite the influx of applicants, she struggled to find employees who were trained in the particular cybersecurity area she was looking for.
“I realized I couldn’t hire them, so I had to start building them,” she said.
In 2011, IBM launched a corporate social responsibility effort called the Pathways in Technology Early College High School (P-TECH) in Brooklyn. It’s since expanded to 11 states in the U.S. and 28 countries.
Through P-TECH, Rometty visited “a very poor high school in a bad neighborhood” that received the company’s support, as well as a community college where IBM was offering help with a technology-based curriculum and internships.
“Voilà! These kids could do the work. I didn’t have [applicants with] college degrees, so I learned that propensity to learn is way more important than just having a degree,” Rometty said.
Realizing the students were fully capable of the tasks that IBM needed moved Rometty to return to the drawing board when it came to IBM’s own application process and whom it was reaching. She said that at the time, 95% of job openings at IBM required a four-year degree. As of January 2021, less than half do, and the company is continuously reevaluating its roles.
For the jobs that now no longer require degrees and instead rely on skills and willingness to learn, IBM had always hired Ph.D. holders from the very best Ivy League schools, Rometty told Murray. But data shows that the degree-less hires for the same jobs performed just as well. “They were more loyal, higher retention, and many went on to get college degrees,” she said.
Rometty has since become cochair of OneTen, a civic organization committed to hiring, promoting, and advancing 1 million Black individuals without four-year degrees within the next 10 years.
If college degrees no longer become compulsory for white-collar jobs, many other qualifications—skills that couldn’t be easily taught in a boot camp, apprenticeship program, or in the first month on the job—could die off, too, University of Virginia Darden School of Business professor Sean Martin told Fortune last year.
“The companies themselves miss out on people that research suggests…might be less entitled, more culturally savvy, more desirous of being there,” Martin said. Rather than pedigree, he added, hiring managers should look for motivation.
That’s certainly the case at IBM. Once the company widened its scope, Rometty said, the propensity to learn quickly became more of an important hiring factor than just a degree.
This story was originally featured on Fortune.com
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RemSense Technologies Ltd (ASX:REM) has reached a new development milestone after integrating its virtualplant asset visualisation system with partner IBM’s Maximo Application Suite (MAS).
The technology company says the two-way integration allows users to access RemSense’s industry-leading digital twin solution alongside IBM’s asset management system.
Ultimately, this makes simultaneous asset management more efficient — users can rapidly comprehend assets from the MAS portal within RemSense’s visually accurate virtual environment.
Additionally, users can monitor MAS plant asset data directly within virtualplant’s photorealistic environment.
This provides valuable background and insight as companies supervise their assets remotely, helping them engage in predictive maintenance when it counts.
It won’t be long until industry gets to see the integration in action. RemSense and IBM plan to make their debut at the upcoming WA Mining Conference and Exhibition in Perth.
The maiden demonstration will take place at IBM’s booth (#8132) this week on October 12 and 13.
The companies are also working with several prospective adopters in Australia’s mining capital.
RemSense managing director and CEO Steve Brown said the IBM integration allowed users from either side to get the best of both worlds.
“The benefits of this integration will enable virtualplant and MAS users to fully benefit from the visualisation of assets through a ‘one click’ access for companies and contractors, from anywhere at any time,” he explained.
“We are also delighted to be working with IBM to launch our joint corrosion inspection and reporting function based on virtualplant’s high-resolution curated dataset and IBM’s extensive experience in visual analytics.”
IBM ANZ’s business unit executive for sustainability software, David Small, said the company was really excited about the integration’s evolution.
“The visualisation of assets will provide immense value to our clients and creates a unique experience to navigate and analyse data in a human-centric environment,” he said.
“We can‘t be essential unless our partners are skilled in our products and confident in going to their clients with our products and selling them with us and for IBM,” IBM channel chief Kate Woolley said.
IBM has started giving registered members of its PartnerWorld program access to the training, badges and enablement IBM sales employees get along with a new learning hub for accessing materials.
The expansion is part of the Armonk, N.Y.-based tech giant’s investment in its partner program, IBM channel chief Kate Woolley told CRN in an interview.
“We can‘t be essential unless our partners are skilled in our products and confident in going to their clients with our products and selling them with us and for IBM,” said Woolley (pictured), general manager of the IBM ecosystem.
[RELATED: Channel Chief Kate Woolley: ‘No Better Time To Be An IBM Partner’]
Partners now have access to sales and technical badges showing industry expertise, according to a blog post Tuesday. Badges are shareable on LinkedIn and other professional social platforms. IBM sales representatives and partners will receive new content at the same time as it becomes available.
“This is the next step in that journey in terms of making sure that all of our registered partners have access to all of the same training, all of the same enablement materials as IBMers,” Woolley told CRN. “That’s the big message that we want people to hear. And then also in line with continuing to make it easier to do business with IBM, this has all been done through a much improved digital experience in terms of how our partners are able to access and consume.”
Among the materials available to IBM partners are scripts for sales demonstrations, templates for sales presentations and positioning offerings compared to competitors, white papers, analyst reports and solution briefs. Skilling and enablement materials are available through a new learning hub IBM has launched.
“The partners are telling us they want more expertise on their teams in terms of the IBM products that they‘re able to sell and how equipped they are to sell them,” Woolley said. “And as we look at what we’re hearing from clients as well, clients want that. … Our clients are saying, ‘We want more technical expertise. We want more experiential selling. We want IBM’ – and that means the IBM ecosystem as well – ‘to have all of that expertise and to have access to all the right enablement material to be able to engage with us as clients.’”
The company has doubled the number of brand-specialized partner sellers in the ecosystem and increased the number of technical partner sellers by more than 35 percent, according to IBM.
The company’s exact program changes have led to improved deal registration and introduced to partners more than 7,000 potential deals valued at more than $500 million globally, according to IBM. Those numbers are based on IBM sales data from January 2022 to August.
Along with the expanded access to training and enablement resources, Woolley told CRN that another example of aligning the IBM sales force and partners was a single sales kickoff event for employees and partners. A year ago, two separate events were held.
“I want our partners to continue to feel and see this as a big investment in them and representative of how focused we are on the ecosystem and how invested we are,” she said.
IBM Corp. is making some big changes to its data storage services, announcing today that it will bring Red Hat Inc.’s storage products and associates under the “IBM Storage” umbrella.
The aim, IBM said, is to deliver a more consistent application and data storage experience across on-premises and cloud infrastructures. It’s a big move that will see IBM Spectrum Fusion data management software adopt the storage technologies of Red Hat’s OpenShift Data Foundation as its new base layer.
Even more interesting, perhaps, is that the open-source Red Hat Ceph Storage offering will be transformed into a new IBM Ceph storage offering. IBM said this will result in a unified, software-defined storage platform that’s better able to bridge the architectural divide between data centers and cloud computing providers.
The computing giant said the move is in line with its software-defined storage strategy of a “born in the cloud, for the cloud” approach that will unlock bidirectional application and data mobility based on a shared, secure and cloud-scale solution.
IBM Systems General Manager of Storage Denis Kennelly said the shift is designed to streamline the two companies’ portfolios. “By bringing together the teams and integrating our products under one roof, we are accelerating IBM’s hybrid cloud strategy while maintaining commitments to Red Hat’s customers and the open-source community,” he insisted.
The company presented the changes as a big win for customers, saying they will gain access to a more consistent set of storage services that preserve data resilience, security and governance across bare metal, virtualized and containerized environments. More specifically, IBM is promising that customers will have a more unified storage experience for container-based applications running on Red Hat OpenShift, with the ability to use IBM Spectrum Fusion, which is now based on Red Hat OpenShift Data Foundation. Doing so will provide higher performance, greater scale and more automation for OpenShift applications that require block, file and object access to data, the company said.
As for IBM Ceph, the company said this will deliver a more consistent hybrid cloud experience with enterprise-grade scale and resiliency.
Furthermore, by unifying IBM’s and Red Hat’s storage technologies, customers will be able to build a single data lakehouse on IBM Spectrum Scale to aggregate all of their unstructured data in one place. Benefits will include less time spent on maintenance, reduced data movement and redundancy, and more advanced schema management and data governance.
Industry watchers were united in their belief that the changes would be of benefit to customers. Steve McDowell of Moor Insights & Strategy told SiliconANGLE that today’s move makes a lot of sense because it enables IBM to leverage the storage strengths of both companies.
McDowell explained that although IBM Spectrum is considered to be one of the most comprehensive data management platforms around, its foundation predates the rise of cloud-native technologies. On the other hand, he said, Red Hat OpenShift was built from the ground up to support cloud-native workloads.
“IBM is evolving Spectrum Fusion to take the best of Red Hat’s efforts, and is using Red Hat’s storage software as the base for its IBM-branded products moving forward,” McDowell said. “It makes a lot of business sense for IBM to leverage R&D from Red Hat into its more traditionally proprietary systems. It also gives IBM an easy path to better serve the needs of containerized workloads.”
International Data Corp. analyst Ashish Nadkarni said the two companies are now “speaking with one voice on storage” and finally delivering on the synergies between them that were mentioned when IBM acquired Red Hat in 2019.
“The combining of the two storage teams is a win for IT organizations as it brings together the best that both offer: An industry-leading storage systems portfolio meets an industry-leading software-defined data services offering,” Nadkarni said. “This initiative enables IBM and Red Hat to streamline their family of offerings, passing the benefits to their customers.”
IBM also moved to reassure users of Red Hat’s open-source technologies that it will remain fully committed to them following today’s announcements. As part of the deal, IBM will take over Premier Sponsorship of the Ceph Foundation and, along with Red Hat’s teams, continue to drive innovation and development. Both IBM Ceph and Red Hat OpenShift will remain 100% open-source, the company added, and will continue to follow an upstream-first development model.
McDowell said today’s move would likely make some users nervous about the prospect of Red Hat’s technology becoming more proprietary over time. “IBM has been very careful since it acquired Red Hat in 2019 to keep Red Hat’s open-source business segregated from IBM’s branded offerings,” he said. “This is the first time we’re seeing IBM cross that that line, and it’s natural to wonder how blurred those lines will become.”
Still, McDowell said, he’s inclined to believe IBM’s promises as it has been very deliberate about keeping Red Hat’s storage technologies open-source.
“Red Hat OpenShift Data Foundation and Ceph will still be available as they always have, though its evolution will undoubtedly be more strongly guided by the needs of IBM’s storage business,” the analyst continued. “Overall this is a net positive for IBM and its customers. It makes good business sense and there should be minimal impact to Red Hat’s existing community.”
IBM said the first storage solutions to launch under the new IBM Ceph Storage and IBM Spectrum Fusion banners will arrive in the first half of 2023, so users will have plenty of time to digest the changes.
The MarketWatch News Department was not involved in the creation of this content.
Oct 10, 2022 (Alliance News via COMTEX) -- Quadintel's exact global IBM Watson Services market research report gives detailed facts with consideration to market size, cost revenue, trends, growth, capacity, and forecast till 2030. In addition, it includes an in-depth analysis of This market, including key factors impacting the market growth.
The global IBM Watson Services market is anticipated to grow at a CAGR of around 32.5% over the period of next 5 years.
This study offers information for creating plans to increase the market’s growth and effectiveness and is a comprehensive quantitative survey of the market.
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For industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders searching for vital industry data in easily accessible documents with clearly presented tables and graphs, the research contains historical data from 2017 to 2020 and predictions through 2030.
A component of IBM Corporation, The IBM Watson is a cognitive computing platform which aids in efficiency and agility of businesses by incorporating AI and other related technologies with advanced hypothesis generation and analytical algorithms.
It integrates various cognitive techniques for facilitating construction of software by crafting dialogues and defining intents for simulating conversion. These services are employed for processing insights, relationships and patterns across un-structured images, social media, emails and others.
The Watson introduced to shape businesses more intelligent; is delivered as a Software-as-a-Service on cloud and can be called by its clients using a small code snippet embedded in their system.
The growth of this market is attributed towards major relying factors including the proliferating usage ofIBM Watson servicesin healthcare & analytics across various regions, the growing demand for cognitive insight & digital technology globally and the rising number of technological advancements in healthcare as well as medical devices substantially etc.
Additionally, the advent of technologies such as machine learning, artificial intelligence, cognitive computing, natural language processing (NLP), data mining, and advanced text analytics have changed the whole working scenario of the healthcare industry. From quicker decision making, assisting in disease diagnosis, optimizing patient selection for clinical trials with intelligence matching, screening of patients? structured & unstructured data, fast marketing of new drug, the technological platforms of IBM Watson have been effectively aiding in the operations of healthcare sector over the past few years, which is thereby opening enormous growth opportunities for the market players existing in the market and eventually assisting in the growth of the overall market considerably.
Moreover, IBM Watson Services are also in extensive use in the media and entertainment industry since the last years and is contributing in the fueling of the market growth comprehensively.
Furthermore, other factors such as the effective and process downtime features of IBM Watson, the proliferating demand for collection of patient data in healthcare facilities, the rapid emergence of innovative drugs, the growing revolution in the field of medical devices & healthcare facilities and the increasing importance of data generated from the patients further augment the growth of the market.
However, few factors pertaining to IBM Watson Services such as the lack of trained professionals, the unstructured and fragmented data structuring technology, the imperfections in AI methodologies, their inability of making connections with different corpora, language issues, concerns relating to maintenance, the high switching cost and time-intensiveness involved in installation and training of the process are major barriers which hamper the growth of this market.
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IBM WATSON SERVICES MARKET SEGMENTATION:
Watson Knowledge Catalog
Watson AI Assistant
Watson IoT Platform
Watson Speech to Text (STT)
Watson Text to Speech (TTS)
Watson Language Services
Watson Visual Recognition
Watson Tone Analyzer
Watson Personality Insights
Watson Data Refinery
Watson Machine Learning
Watson Deep Learning
Watson Compare and Comply
By End User Industry:
Discrete & Process Manufacturing
Media & Entertainment
Transportation & Logistics
Travel & Tourism
Middle East & Africa
The North America region followed by the European region holds the largest share in the IBM Watson Services market. The region is also expected to bolster tremendous growth in the upcoming years owing to factors such as the introduction of the Watson development platform in region by IBM for various purposes, the acquisition of a leading digital marketing & creative agency based in the U.S., Resource/Ammirati by IBM with a goal to create transformative brand experiences, the surging application of IBM Watson APIs for providing interactive mobile experiences to consumers in the region and the successful development of the production capacities of industries by these services in the region etc. The major contributors to the region include U.S and Canada.
The Asia Pacific region is the fastest growing regional market for IBM Watson Services in the world and is projected to also grow robustly in the upcoming years as well. The growth in the region can be attributed to factors such as the growing adoption of technologies such as blockchain, cognitive computing and others in various industries for assisting in commercialization and rapid prototyping of the client?s solutions in the region and the expansion of IBM?s headquarters in the major economies of this region etc. Japan, South Korea, India and China are the major contributors to this region?s growth.
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FEW KEY PLAYERS IN IBM WATSON SERVICES MARKET:
KPMG International Limited
Tata Consultancy Services Limited
Datamato Technologies Private Ltd.
Mainline Information Systems Inc.
DXC Technology Limited Accenture Plc
Deloitte Touche Tohmatsu Ltd.
Tech Mahindra limited
In February 2021, Humana Inc. and IBM Watson Health announced a collaboration leveraging IBM?s conversational artificial intelligence (AI) solution to help provide a better member experience while providing greater clarity and transparency on benefits and other related matters for Humana Employer Group members. As part of the agreement, Humana will deploy IBM Watson Assistant for Health Benefits, an AI-enabled virtual assistant built in the IBM Watson Health cloud.
In February 2021, IBM and Palantir Technologies announced a new partnership consisting of IBM?s hybrid cloud data platform designed to deliver AI for business, with Palantir?s next generation operations platform for building applications. The product is expected to simplify how businesses build and deploy AI-infused applications with IBM Watson and help users access, analyze, and take action on the vast amounts of data that is scattered across hybrid cloud environments without the need for deep technical skills. The new product, Palantir for IBM Cloud Pak for Data, is planned to be mace available in March of 2021.
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