International Business Machines Corp - IBM STOCK NEWS

Red Hat has announced a collaboration with Lenovo to deliver Red Hat Enterprise Linux AI (RHEL AI) on Lenovo ThinkSystem SR675 V3 servers. RHEL AI will be the default AI platform for these servers, pre-loaded to facilitate easier development, testing, and running of AI and generative AI models. This collaboration aims to provide optimized performance for AI computing using built-in GPU processing power.

RHEL AI is a foundation model platform that combines IBM Research's Granite family of open source-licensed large language models with InstructLab model alignment tools. It's packaged as an optimized, bootable Red Hat Enterprise Linux image for portability across hybrid cloud environments and is included in Red Hat OpenShift AI for running models at scale.

Lenovo Consulting Service offers comprehensive support for Red Hat solutions, providing expertise in deployment, integration, and management. Customers can test the solution in Lenovo's AI Center of Excellence.

IBM's Institute for Business Value conducted a study on generative AI in the insurance industry, surveying 1,000 insurance c-suite executives and 4,700 insurance customers. Key findings include:

1. Insurance CEOs are split on whether generative AI is more of a risk (49%) or opportunity (51%).
2. 77% of industry leaders believe generative AI is necessary to stay competitive.
3. Investments in generative AI are expected to increase by over 300% from 2023 to 2025.
4. Only 29% of insurance customers are comfortable with gen AI virtual agents providing service.
5. Organizations with less-centralized operating models for gen AI development can improve business outcomes by up to 14%.

The study recommends building tailored products, addressing trust issues, and deploying AI across the enterprise with strong governance.

IBM (NYSE: IBM) has announced that it will hold its quarterly conference call to discuss third-quarter 2024 financial results on Wednesday, October 23, 2024 at 5:00 p.m. ET. Investors and interested parties can access the live webcast of the earnings call at www.ibm.com/investor. The company advises visiting the investor website for the earnings press release prior to the webcast. Following the event, a replay, associated charts, and prepared remarks will be made available for those unable to attend the live call.

IBM has unveiled its first IBM Quantum Data Center outside the United States in Ehningen, Germany. This marks a significant expansion of IBM's fleet of advanced, utility-scale quantum systems available globally via the cloud. The center includes two new IBM Quantum Eagle-based systems and will soon feature an IBM Quantum Heron-based system, offering up to 16 times better performance and a 25-fold increase in speed over 2022 IBM Quantum systems.

The opening was celebrated with German Chancellor Olaf Scholz and industry leaders. European-based enterprises and research institutions, including Crédit Mutuel, Bosch, E.ON, Volkswagen Group, and Ikerbasque, are accessing IBM's global quantum fleet to advance quantum algorithm discovery. This expansion demonstrates IBM's commitment to Europe and underscores the importance of collaboration in developing a pan-European quantum ecosystem.

IBM has expanded its Quantum Data Center in Poughkeepsie, New York, now housing the highest number of utility-scale quantum computers at a single location worldwide. The company has installed a second IBM Quantum Heron processor, its most performant to date, offering up to 16 times better performance and a 25-fold increase in speed over 2022 systems. All quantum systems in Poughkeepsie can now operate at utility-scale, surpassing classical computers' simulation capabilities.

The expansion aims to advance algorithm discovery globally, with over 250 organizations using IBM's systems to explore industry-relevant problems. IBM's Qiskit software stack simplifies quantum programming, enabling a growing ecosystem of quantum software and services. The company plans further upgrades to its Poughkeepsie facility as it progresses along its Quantum Development Roadmap.

IBM and NASA have released a new AI foundation model for weather and climate applications, available as open-source on Hugging Face. This model, developed with contributions from Oak Ridge National Laboratory, offers a flexible and scalable approach to address various challenges related to short-term weather and long-term climate projection.

The model was pre-trained on 40 years of Earth observation data from NASA's MERRA-2 and can be fine-tuned for global, regional, and local scales. Two fine-tuned versions are available: one for climate and weather data downscaling, and another for gravity wave parameterization.

This foundation model is part of the Prithvi family of AI models and has already been tested by Environment and Climate Change Canada for additional weather forecasting use cases. It aims to provide actionable science and improve the accuracy of weather and climate simulations.

IBM's Chief Impact Officer, Justina Nixon-Saintil, emphasizes the importance of reskilling and community investment during the AI revolution. She states, "AI is not going to take your job, but somebody with AI skills will," highlighting the need to equip learners with AI skills for success in tech jobs. Nixon-Saintil believes that every industry will be revolutionized by AI, and ensuring people can take advantage of AI-related job opportunities will contribute to worker well-being. The focus is on preparing the workforce for the AI-driven future and leveraging this technology across various sectors.

IBM and Microsoft have opened three new Experience Zones in Bucharest, Buffalo, and Leicester, expanding their global reach. These zones, along with the existing one in Bangalore, aim to help clients across industries explore generative AI, hybrid cloud, and other Microsoft technologies to transform their businesses. The zones offer hands-on access to technologies like Microsoft Azure, Azure Open AI Service, Microsoft Copilot, and Microsoft Dynamics.

IBM consultants, with over 46,000 Microsoft certifications, work with clients to identify and solve unique business challenges using cloud and AI solutions. The partnership focuses on delivering innovative solutions and enabling business transformation through AI-powered services. IBM's commitment to Microsoft as a strategic partner is further demonstrated by recent initiatives like the IBM-Microsoft Copilot Hackathon, which saw 250 client teams exploring AI-based solutions to improve productivity and streamline business processes.

IBM's Institute for Business Value and the Banking Industry Architecture Network (BIAN) conducted a global survey revealing a significant disconnect between small to medium-sized enterprises (SMEs) and banks. The study, titled 'Banking for Small and Medium Enterprises: Serving the World Economy with Data and AI', highlights that banks may be missing opportunities to foster growth in the SME market due to their focus on risk reduction and regulatory compliance.

Key findings include:

• Less than 6% of bank executives graded their SME banking services with an 'A'
• SMEs prioritize understanding of their unique needs, while banks focus on apps and branch proximity
• 64% of bank executives recognize the value of technology architecture standards

The report recommends that financial institutions invest in ecosystem platforms, adopt enterprise-wide approaches to emerging technologies, and embrace AI and automation to enhance SME client offerings.