In today’s digital age where data stands as a prized asset, generative AI serves as the transformative tool to mine its potential. According to a survey by the MIT Sloan Management Review, nearly 85% of executives believe generative AI will enable their companies to obtain or sustain a competitive advantage. The global AI market is projected to grow to USD 190 billion by 2025, increasing at a compound annual growth rate (CAGR) of 36.62% from 2022, according to Markets and Markets. Businesses globally recognize the power of generative AI and are eager to harness data and AI for unmatched growth, sustainable operations, streamlining and pioneering innovation. In this quest, IBM and AWS have forged a strategic alliance, aiming to transition AI’s business potential from mere talk to tangible action.
Adopting AI in business at scale is not without its challenges, including data privacy concerns, integration complexities and the need for skilled personnel. Scaling AI in business presents unique challenges:
- Data accessibility: Fragmented and siloed data stifle advancement. Gartner highlights that businesses lose an estimated USD 15 million annually due to inadequate data access.
- Integration and financial constraints: Merging AI with current systems is intricate. Forrester indicates that 40% of companies face this obstacle. Concurrently, McKinsey points out high expenses limit AI integration in 23% of organizations.
- Ethical and regulatory barriers: Upholding AI ethics is pivotal. A significant 34% of companies express concerns over fairness, with regulatory hurdles intensifying the landscape.
The AWS-IBM partnership is a symphony of strengths
The collaboration between IBM and AWS is more than just a tactical alliance; it’s a symphony of strengths. IBM, a pioneer in data analytics and AI, offers watsonx.data, among other technologies, that makes possible to seamlessly access and ingest massive sets of structured and unstructured data. AWS, on the other hand, provides robust, scalable cloud infrastructure. By combining IBM’s advanced data and AI capabilities powered by Watsonx platform with AWS’s unparalleled cloud services, the partnership aims to create an ecosystem where businesses can seamlessly integrate AI into their operations.
Real-world Business Solutions
The real value of any technology is measured by its impact on real-world problems. IBM and AWS partnership focuses on delivering solutions in areas like:
Supply chain optimization with AI-infused Planning Analytics
IBM Planning Analytics on AWS offers a powerful platform for supply chain optimization, blending IBM’s analytics expertise with AWS’s cloud capabilities. One of the largest children clothing retailer in the US utilizes this solution to streamline its complex supply chain. Real-time data analytics helps in quick decision-making, while advanced forecasting algorithms predict product demand across diverse locations. The retailer uses these insights to optimize inventory levels, reduce costs and enhance efficiency. AWS’s scalable infrastructure allows for rapid, large-scale implementation, ensuring agility and data security. Overall, this partnership enables the retailer to make data-driven decisions, improve supply chain efficiency and ultimately boost customer satisfaction, all in a secure and scalable cloud environment.
Infuses AI to transform business operations
DB2 PureScale on AWS provides a scalable and resilient database solution that’s well-suited for AI-driven applications. By taking advantage of AWS’s robust cloud infrastructure, PureScale ensures high availability and fault tolerance, critical for businesses operating around the clock. A leading insurance player in Japan leverages this technology to infuse AI into their operations. Real-time analytics on customer data — made possible by DB2’s high-speed processing on AWS — allows the company to offer personalized insurance packages. AI algorithms sift through large datasets to identify fraud risks and streamline claims processing, improving both efficiency and customer satisfaction. AWS’s secure and scalable environment ensures data integrity while providing the computational power needed for advanced analytics. Thus, DB2 PureScale on AWS equips this insurance company to innovate and make data-driven decisions rapidly, maintaining a competitive edge in a saturated market.
Modernizing data warehouse with IBM watsonx.data
Modernizing a data warehouse with IBM watsonx.data on AWS offers businesses a transformative approach to managing data across various sources and formats. The platform provides an intelligent, self-service data ecosystem that enhances data governance, quality and usability. By migrating to watsonx.data on AWS, companies can break down data silos and enable real-time analytics, which is crucial for timely decision-making. One of largest asset management company has executed a pilot using machine learning capabilities to further allow for predictive analytics, uncovering trends and patterns that traditional methods might miss. One of the standout features for this company is its seamless integration with existing IT infrastructure, reducing both costs and the complexity of migrating from legacy systems. Whether you’re looking to streamline operations, improve customer experiences, or unlock new revenue streams, IBM watsonx.data on AWS lays the foundation for a smarter, more agile approach to data management and analytics.
As AI continues to evolve, this partnership is committed to staying ahead of the curve by continuously updating its offerings, investing in joint development and providing businesses with tools that are both cutting-edge and practical.
The IBM-AWS partnership is not just a win-win for the companies involved; it’s a win for businesses across sectors. By combining IBM’s prowess in data analytics and AI with AWS’s robust cloud infrastructure, the alliance is breaking down barriers to AI adoption, offering scalable solutions, and enabling businesses to leverage AI for tangible results.
Get ready to harness the power of AI for your business
Explore how the IBM-AWS partnership can offer you tailored solutions that drive results. Join us at AWS re:Invent 2023 from November 27 to December 1 in Las Vegas, Nevada. At booth #930, IBM will spotlight its advancements in AI, demonstrating how we assist clients to scale AI workloads using our comprehensive generative AI stack swiftly and responsibly. This event offers a firsthand look into IBM’s transformative solutions that are reshaping industries. Engage with our experts, partake in live demos, and explore tailor-made solutions for your business needs.
Join us at re:Invent 2023
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Source: IBM Blockchain
