International Business Machines (IBM) said it is ready to help corporates around the world make key AI improvements to their business.
Openings for IBM
In a Reuters article, IBM’s chief executive Arvind Krishna said it had the tools to help its customers manage a fleet of AI agents for their key business applications no matter the provider.
In the Reuters interview Krishna said he saw an opening for IBM to provide software that integrates customers’ AI agents with providers such as Salesforce (CRM), Workday (WDAY) and Adobe (ADBE) and which then lets them build their own agents with IBM’s help.
IBM’s tools to help customers create their own agents, a process it said would take under five minutes, draw on the IBM Granite family of AI models, as well as alternatives from Meta Platforms (META) and Mistral.
Healthy Market to Invest In
Krishna told Reuters that customer interest in using different AI models for different tasks would build demand for IBM, which last month reported that it has built a $6 billion “book of business” on ChatGPT-like generative AI.
“Between mainframe, artificial intelligence and quantum computing, we think there’s going to be a very healthy market that behooves us to invest and lean in,” he said.
His comments came as IBM announced that it had sealed a partnership with Lumen (LUMN) to create enterprise-grade AI solutions. However, it did little to move the IBM share price which was down in pre-market trading.
It also comes off the back of IBM’s vow last month to invest $150 billion in the U.S. over the next five years making both mainframe and quantum computers.
Is IBM a Good Stock to Buy Now?
On TipRanks, IBM has a Moderate Buy consensus based on 8 Buy, 5 Hold and 2 Sell ratings. Its highest price target is $300. IBM stock’s consensus price target is $258.79 implying an 3.86% upside.
