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The technology sector is at the center of this week with ongoing CES 2019. In particular, it is an annual technology fair conducted by the Consumer Technology Association each January in Las Vegas.
International Business Machines Corporation& # 39; S (IBM – Report) the CEO (CEO) and President Ginni Rometty during the Keynote & # 39; in CES 2019 they talked about the initiatives of the company in blockchain, cloud and artificial intelligence technology (AI) through the rollout of products and strategic agreements.
In the Headlines
IBM unveiled IBM Q System One, the first integrated quantum computing system for commercial use. Quantum computers have the ability to solve very complex tasks much faster than conventional supercomputers. IBM's Q systems are designed to develop specialized knowledge and focus on research for practical purposes. The machine architecture is suitable for experimental calculation operations for stability, reliability and continuous scientific commercial use.
IBM also unveiled its intentions to open its first IBM Q Quantum Computation Center in 2019 for commercial customers in Poughkeepsie, NY.
IBM and its subsidiary The Weather Company have unveiled the latest global weather forecasting system that will provide data and technology for weather forecasts. Available at the end of this year, IBM's new global high-resolution forecasting system ("GRAF") will be able to provide improved weather technology on an hourly basis, thereby improving flight experience overall. This demonstrates the growing dominance of IBM in providing AI platforms that will fuel future airlines.
Moving forward in AI space, IBM announced the new Project Debater – Speech by Crowd – to have a real-time debate with a human. It is an AI-based platform that collects points of view from both sides of the crowd on a given topic and automatically creates persuasive points of view for or against the topic.
The latest move by IBM to show the "sensor nail" prototype and launch tools with Medtronic, reveals its ambition to aggressively strengthen its point of support in AI, machine learning (ML) and health space. IBM is working to improve universal health by enabling the AI-led analysis of how to monitor and monitor diseases that affect a person's health. The company has created a platform of Medtronic tools to help diabetic patients. This IBM effort maintains a promise in the AI and in the healthcare space.
Blockchain & AI: a long-term driver
IBM is steadily gaining ground in blockchain technology. Lately, blockchain technology has gained significant acceptability among financial providers because of its speed and security. Blockchain is much faster than legacy technologies in completing a transaction as there is no need for manual processing or authentication by intermediaries.
According to MarketsandMarkets, blockchain technology is expected to reach $ 2.3 billion by 2021 from $ 210.2 million in 2016 to a 61.5% CAGR. We believe that IBM's growing investments and growth in this space will help it take advantage of growth opportunities.
Moreover, according to a recent IDC report, worldwide spending on cognitive and artificial intelligence systems is estimated at over $ 77.6 billion by 2022 at a CAGR of 37.3% from 2017 to 2022. For a MarketsandMarkets report, AI in the marketing market is expected to attend a CAGR of 29.8% to $ 40.1 billion by 2025 from $ 5 billion in 2017. The report favors the prospects of the IBM and Watson cognitive services with artificial intelligence.
Bottom line
IBM was a pioneer when it comes to helping companies transform and evolve digitally. The technology giant continues to bring innovation to its services to help businesses take advantage of emerging technologies, including cloud, AI, the Internet of Things ("IoT"), among others.
The advanced features of IBM AI, IoT, blockchain, cloud, ML, among others, make its offerings well thought out for robust adoption. The traction witnessed by the company's Watson Ads offering is strengthening the top line, in turn helping IBM to compete better against peers.
Zacks rank and key choices
IBM brings a Zacks Rank # 3 (Hold).
ZAGG Inc (ZAGG – Free Report), SS & C Technologies Holdings, Inc. (SSNC – Free Report) and Marvell Technology Group Ltd. (MRVL – Free Report) are some titles that are worth considering in the broader technology sector. All three stocks flaunt a Zacks Rank # 1 (Strong Buy). you can see the complete list of today's Zacks stocks at number 1 here.
The long-term earnings growth rate for ZAGG, SS & C and Marvell is currently set at 7.5%, 13.5% and 9.4%, respectively.
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