In a bid to keep up with evolving consumer preferences, companies are adopting innovative digital transformation methods. IBM Services helped Cerealto Siro to devise an AI tool, I+Radar, which facilitates real-time analysis of consumer tastes. We believe IBM’s innovative AI initiatives hold promise. The robust adoption of IBM’s hybrid cloud platforms, Watson services and other AI-driven offerings is expected to benefit the top line in the days ahead.
Robust Broader Market Insights Huge volume of data is being generated through a wide range of sources. The companies want to leverage AI to provide specific solutions and enhance solutions’ capabilities. IBM’s new Watson solutions provide a sorted ready-to-use data platform to the companies, consequently, accelerating their AI processes. We must note that the number of companies utilizing enterprise AI is increasing.
Per a report by IBM, customer satisfaction is the primary reason behind around 77% of organizations focusing on AI investments. Moreover, per Gartner, IT spending is projected to hit $3.875 billion in 2020 from $3.650 billion in 2018. Further, IDC projects worldwide spending on AI systems to hit $79.2 billion by 2022 at a CAGR of 38% from 2018 to 2022. IBM is well poised to benefit from its growing presence in the enterprise AI market on an increasing clientele.
A few better-ranked stocks worth considering in the broader sector are eGain Corporation EGAN, Rosetta Stone Inc. RST and j2 Global, Inc. JCOM, each sporting Zacks Rank #1 . You can see the complete list of today’s Zacks #1 Rank stocks here . Long-term earnings growth rate for eGain, Rosetta Stone and j2 Global is pegged at 30%, 12.5% and 8%, respectively. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2020.
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