IBM this week reported a 4% year-over-year increase in revenue to $17.4 billion in the fourth quarter, and full-year revenue up 2% to $61.9. In prepared remarks, CEO Arvind Krishana primarily attributed the growth to enterprise interest in using artificial intelligence (AI), which is driving business to IBM’s consulting and software businesses.
In his prepared remarks, Krishna recalled the third quarter disclosure that generative AI (gen AI) revenues related to its WatsonX platform were in the low hundreds of millions. Since then, he said, that line of business has roughly doubled. WatsonX can be used to train, tune, validate and deploy AI models.
