IBM Lags in Artificial Intelligence: Jefferies

At a time when all sorts of technology companies are getting accolades for their artificial intelligence prowess, International Business Machines Corp. (IBM) is apparently struggling, leading Wall Street investment firm Jefferies to lower its price target on the stock. Citing checks that show a slow AI adoption rate, Jefferies analyst James Kisner cut his price target on Big Blue to $125 from $135 a share, implying the stock could fall more than 18%. In a research note to clients, the analyst called IBM “outgunned” in the war for AI talent and argued that it’s a problem that will only get worse. (See also: The Other Side of IBM’s Watson AI Solution.) What’s Up With Watson? “Our checks suggest that IBM’s Watson platform remains one of the most complete cognitive platforms available in the marketplace today. However, many new engagements require significant consulting work to gather and curate data, making some organizations balk at engaging with IBM,” wrote the analyst in the research report covered by 24/7 Wall Street. What’s more, the analyst said that with a lot of companies making significant investments in AI and a slew of startups splashing on the scene, IBM is having a hard time luring…


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