AI budgets are on the rise, and IBM is poised to capitalize on this trend. According to Wedbush Securities' Daniel Ives, AI spending now accounts for around 12% of many IT budgets, with some companies allocating as much as 15%.
Ives notes that about 70% of customers who have adopted AI have accelerated their AI budget allocations and initiatives over the past six months. This surge in AI adoption is expected to continue, with IBM well-positioned to benefit from its extensive expertise in AI and cloud computing.
In fact, Ives has added IBM to Wedbush Securities' Best Ideas List, citing the company's "massive opportunity" to monetize its installed base over the next 12 to 18 months. With its strong track record in AI research and development, IBM is likely to play a major role in shaping the future of AI.
