International Business Machines Corp (NYSE:IBM) and ABB Ltd (ADR) (NYSE:ABB) declared that they are forming a collaboration in industrial artificial intelligence.
Details of the merger
The artificial intelligence will consist of a combination of the power of IBM Watson with the ABB offering Ability, and ABB comprehensive digital offering. These will be used in unlocking the new value for users in infrastructure, industry, utilities and transport.
The clients will benefit from ABB’s deep domain knowledge as well as an intensive portfolio of digital solutions which will come packaged with IBM’s expertise in the artificial intelligence as well as machine learning and different industry verticals.
Impact of the collaboration
The pioneering two joint industry solutions which will be powered by ABB Ability and IBM Watson will result to a real-time cognitive awareness to the factory floors and the smart grids. The CEO of ABB, Urlich Spiesshofer stated that this powerful combination is a true mark of the next level in industrial technology through moving beyond current connected systems which simply gather data for industrial operations and the machines using the data to sense, analyze, optimize as well as take the necessary actions that drive significant uptime, speed and even yield for industrial clients.
He added, “With an installed base of 70 million connected devices, 70,000 digital control systems and 6,000 enterprise software solutions, ABB is a trusted leader in the industrial space.” The company has a four decade history of producing digital solutions for its clients.
IBM is one of the market leaders in artificial intelligence as well as cognitive computing. The alliance between IBN and ABB will hopefully result in powerful solutions for their clients so they can benefit from the so-called “Fourth Industrial Revolution”.
New suite of breakthrough solutions
The new suite of breakthrough solutions will assist the companies in tackling some of the biggest challenges in the industry in a new way including improving quality control, enhancing speed and yield of industrial processes and decreasing downtime.
The solutions will go beyond the current connected systems that just gather data. Cognitive industrial machines will use data to sense, understand, reason and take supporting actions for industrial workers to assist in eliminating inefficient processes as well as redundant tasks.
The stock of IBM closed at $160.39 0n Tuesday after a fall $0.36 or 0.22% while ABB closed at $24.24 after a rise $0.29 or 1.21%.