International Business Machines Corporation - IBM STOCK NEWS

IBM reported strong first-quarter 2022 earnings, achieving $14.2 billion in revenue, an 8% increase year-over-year, with hybrid cloud and AI driving growth in Software and Consulting. Software revenue rose 12%, while Consulting grew 13%. Hybrid cloud revenue reached $5.0 billion, up 14%. Free cash flow for the quarter stood at $1.2 billion, with cash on hand totaling $10.8 billion. The company anticipates full-year revenue growth at the high end of the mid-single-digit range, supported by ongoing investments in Kyndryl.

The International Science Reserve (ISR), launched by the New York Academy of Sciences with founding partners including IBM, aims to unite over 1,000 scientists globally to address pressing challenges like pandemics and climate change. The ISR facilitates scientific collaboration, offering resources and conducting readiness exercises. Its Executive Board comprises leaders from various sectors, including IBM and Pfizer. The inaugural focus will be on wildfire prevention, driven by an alarming 60% increase in wildfire risks due to climate change. This initiative seeks to enhance global crisis preparedness.

A recent IBM study reveals a significant shift in AI ethics responsibility, with 80% of executives citing non-technical leaders, like CEOs, as key advocates, up from 15% in 2018. Despite 79% of CEOs being ready to implement AI ethics practices, less than a quarter of organizations have acted, highlighting a gap between intention and action. The study also finds that while 68% of organizations recognize the importance of diversity in mitigating AI bias, their teams are notably less inclusive. As firms begin to embed ethical principles into AI, the urgency for comprehensive governance has never been greater.

IBM has unveiled the IBM z16, featuring the IBM Telum processor designed for AI inferencing, enabling real-time insights for critical workloads like financial transactions. It is the first quantum-safe system, integrating advanced cryptography for future-proofing against cyber threats. The z16 can process 300 billion inference requests daily with just one millisecond latency. This innovation aims to revolutionize industries by enhancing fraud detection and transaction processing. The system will be available from May 31, 2022.

A recent report by IBM reveals significant geographical and generational disparities in the frequency and impact of financial fraud. The 2022 IBM Global Financial Fraud Impact Report indicates that Americans suffer from the highest rates of financial fraud per year, averaging $265 lost to fraudulent charges, despite reporting lower amounts lost compared to other countries. The study shows Millennials being the most affected group by various fraud types, and a notable 22% of Americans lack confidence in their banks' abilities to manage fraud.

Red Hat, Inc. has announced a new Common Criteria Certification for Red Hat Enterprise Linux 8.2, enhancing its status as a preferred platform for critical workloads in sensitive environments. The certification, completed by Acumen Security and validated by the National Information Assurance Partnership (NIAP), confirms that the product meets stringent security standards. This achievement underscores Red Hat’s commitment to innovation and security in the hybrid cloud space, offering users the benefits of a subscription model including technical support and proactive analytics tools.

IBM Consulting is partnering with Discover Financial Services to enhance the bank's digital transformation into a hybrid cloud architecture using Red Hat OpenShift. This collaboration aims to modernize Discover’s systems, improve customer experience, reduce operational costs, and enable faster application deployment. With automated solutions, Discover seeks to deliver integrated banking experiences while ensuring data security. The project involves utilizing advanced automation and management tools for improved visibility and control over Discover's hybrid cloud environment.