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Market Watch December 24, 2019

IBM Watson Gains Momentum with Triple Digit Growth in India; Agriculture Playing a Key Role

By Mint

IBM’s artificial intelligence (AI) engine Watson, named after its founder Thomas J. Watson, is gaining momentum in India as businesses look to modernize their IT infrastructure backbone. reports Ayushman Baruah at Mint. “We are seeing triple digit growth in India on the back of our data business,” said Vikas Arora, vice president, IBM Cloud and Cognitive Software, IBM India & South Asia.

According to research firm IDC, the worldwide AI market grew 35.6% to $28.1 billion last year with IBM taking the lead with 9.2% share of the overall market. While IBM does not share Watson’s growth separately, revenues from its “cloud and cognitive” software, which includes Watson, grew 6.4% to $5.3 billion globally for the third quarter ended September.

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In India, IBM is investing heavily in “multi-dimensional research capabilities” in Watson, Arora said. “A lot of the work that we are doing in agriculture, blockchain, and cognitive retail is being led by our research teams here in India.”

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Mint is one of India's premium business news publications - 76% of Mint readers do not read another business paper, making Mint a critical reach vehicle for the top end audience. Mint is the clear No.2 among business papers in terms of readership. Representative of an integrated newsroom, www.livemint.com is Mint’s online portal and is among the fastest growing news website in India. Livemint provides daily national, international and business news, tracks market movements and detailed coverage of significant events. The site has evolved multimedia features like videos, podcasts and slideshows.
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