IBM Cuts Marketing Jobs As It Pivots To A.I.

IBM (IBM) is cutting jobs in its marketing and communications division as it relies more on artificial intelligence (A.I.) applications and models.

Late last year, IBM chief executive officer (CEO) Arvind Krishna said that the technology giant is “massively upskilling all of our employees on A.I.”

Krishna has announced plans to replace as many as 8,000 jobs at IBM with A.I. in coming years.

Exactly how many staff in the marketing and communications unit are being let go has not been made public by IBM.

However, IBM is the latest in a series of technology companies that have reduced their headcount in recent months.

So far this year, more than 200 technology companies have cut a combined 50,000 jobs, including Alphabet (GOOGL) and Amazon (AMZN).

IBM is focusing on A.I. across its business. Last year, IBM announced WatsonX which is focused on helping companies train and deploy machine-learning and A.I. models.

However, IBM faces steep competition in enterprise A.I. Microsoft (MSFT), Google, Amazon and others have similar offerings to IBM and are finding ways to monetize their products.

The stock of IBM has increased 58% in the last 12 months and currently trades at $197.78 U.S. per share.

Source link

About The Author

Scroll to Top