18 Burst results for "Ceo Ginny Rometty"

"ceo ginni rometty" Discussed on NewsRadio KFBK

NewsRadio KFBK

02:24 min | 1 year ago

"ceo ginni rometty" Discussed on NewsRadio KFBK

"I'm Sam Shane on this Friday morning with cutting edge Corey a little bit of money news from the Bloomberg business desk you don't at every time we do a story on Amazon these days I feel like a broken record I mean they just keep crushing it in the market place yeah the latest results came out yesterday Sam and they indeed were much better than expected in fact the stock surged ten percent in after hours trading we're gonna be watching Amazon today we heard from caterpillar this morning it's twenty twenty profit outlook trailed analyst expectations as adding to more gloom to global markets coming from the corona virus situation IBM CEO Ginni Rometty has been with big blue for almost forty years now the company has named a new CEO Arvind Krishna he'll be taking over this year and Rometty will remain on it is an executive chairman through December right now the Dow futures are down one thirty S. and P. futures are down fourteen I made Corey with a Bloomberg business report on news ninety three point one K. F. B. K. are yet thanks so much appreciate that we're heading into Superbowl weekend we're gonna spend a fair amount of time all morning long talking Superbowl related stories one of the stories coming up in a little bit I mean I'm looking around on at five forty five let's come appears very short right do you about football popularity will talk a little bit more about that also coming up at six forty five there was a film that was made of the very first Superbowl got lost isn't that crazy around it they found the first one and we've got some clips from it so we're gonna be coin that as well also let's talk half time because that's what a lot of folks watch right so your Jennifer Lopez and Shakira you know how long they're going to perform I don't twelve minutes that's what they say our halftime extravaganza the first time two Latino stars are on stage together to global superstars performing together right and they want this to make they wanted to be an announcement on just about their culture but for women as well well and I'll tell you this Shakira is forty two years old Jennifer Lopez is fifty so I mean you have you know two women right now which is middle age that are performing at the Superbowl so it's not this you know like culture of just youth musicians and you have to establish older women performing is gonna be fantastic because both of them are amazing so Zack you you've pulled us some secure secura is that right I did okay so.

football CEO IBM analyst Bloomberg Zack Shakira Jennifer Lopez Sam Shane K. F. B. K. executive chairman Arvind Krishna Ginni Rometty Amazon Corey
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:35 min | 1 year ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Emergency citing the risk of the sometimes deadly virus could expand to other countries beyond the the smattering of cases outside China so far IBM whose names are been Christian as chief executive officer replacing the long time CEO Ginni Rometty Krishna is currently the head of IBM's cloud and cognitive software unit was a principal architect of the company's purchase of red hat shares are advancing now by up by almost four percent after the bell Amazon dispelled concerned about the cost of next day delivery by reporting holiday quarter revenue and profit crush Wall Street estimates stock is now searching after hours by just about eleven percent big move for Testor today after its earnings beat estimates shares up ten point three percent Tess was expecting a production delay in China so could that be problematic for Tesla the question for Ross Gerber CEO and corporate power sucky wealth management who was our guest right here on Bloomberg businessweek all matter for almost every company in America we're taking risk off everything the Chinese are saying it's a lie hundred times worse than what they're reporting world wrestling entertainment shares a major SmackDown for the stock there it's at twenty nineteen earnings came up at the low end of estimates of replacing its copresidents effective immediately shares are plunging right now by twenty one percent stocks higher SMP up ten up three tenths of our one twenty four of four tenths nasdaq up twenty three up three tenths ten year yield one point five eight percent and gold little change up twenty nine cents the ounce I'm Charlie palette and that is a Bloomberg business slash all.

China IBM chief executive officer CEO Ginni Rometty Krishna principal architect Amazon Testor Tess Ross Gerber CEO America Bloomberg
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:30 min | 1 year ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Headquarters side John Charlie Pellett IBM is named are of inclusion as CEO replacing longtime CEO Ginni Rometty shares of IBM surging four point one percent after the bell Amazon handily beat estimates shares in Amazon dot com surging eleven point five percent right now on the SmackDown for W. W. E. shares world wrestling entertainment twenty nineteen earnings came up the low end of estimates is also replacing its copresidents shares plunging now by nineteen percent S. and P. up ten points up three tenths the Dow up one hundred twenty four up four tenths nasdaq up by three tenths son Charlie palette that is a Bloomberg business slash all right Charlie thank you so much Sir earlier Justin I caught up with a fan favorite of the Pittsburgh Steelers a member of the pro football hall of fame Super Bowl champion we're talking about to room Bennis the bus he joined us and we talked a lot of things that we began by talking about partnership that is out with her it's a great nickname the bus and you got a part we get into that nickname is up even a great partnership rightfully so with her it's helpful that about it it's a it's a great partnership what we're doing is I'm helping launch this program is called the extra mile programming the idea is to really celebrate and say thank you to the gold club reward members that have really made the hertz number one in class and so fifty people will have an opportunity to go to the big game in style and you know my nickname so what would you think would be in style in style is a bus yeah but if you're not going to the game then there's an opportunity as well for people to go to Instagram and and posters the picture on this story and tag it with the at hertz and they'll have opted to win three dollars and in the future right rentals from hertz all right got to ask you about your coach bill Cowher going into the hall of fame and the what a moment for him yeah there's a lot of emotion around that what did you feel when when you heard obviously not unexpected in a lot of ways acolytes still with but I'm certain but I'm certain right as you know as much as you say and I'll I'll I'll use myself as an example you know we saw with it all I didn't get in this year and it's all your hall of Famer mobile and I'm not I just could help the sentiments of your book does it count right but nobody reads your yes I'm sure go through he was in the same kind of a feeling that the old this opportunity is not promised that Kerr so he's gonna miss the cover tunes as of now it happened it happened in such a way that they were here he was surprised on air it was just it was it was just a beautiful moment and I was so happy that he was able to get in the hall of fame because he is deserving and really the reason that I was able to get all the fame is because of him believing in me to the point where he gave me so many opportunities to be successful well that's what I was reading about that he really was a game changer for you he was eighty two specific soul soul when I came to Pittsburgh I needed to go to a team that the the the mindset was running the football because so many times you can go to organization it it it doesn't really fit you stock right and you maybe have a you may be a hall of fame caliber talent it never is realized and he was able to realize my talent by saying you know what I'm going to run your own we want to pound the football will play great defense and we want to win a lot of football games and because of that I became the focus the central focus of the offense right now has success after success of success the hard part though was we weren't able to win a championship early on right and so that was the the the gold the drive in ultimately we we finally got there in in that was just the kind of the cherry on on on the ice on top of the cake for me why are you called about the call plus there's some like debate about it when I was at the university of Notre Dame there was a writer in the student body newspaper that role that I kind of look like the look like a bus right if so the student body attorney which whenever I would run they would say nobody stops the bus ride the Luce yeah in the end what happened when I got it disappeared when I went to the rams because they start start taught me the battering ram when I was in in in LA in the end when I came to Pittsburgh western Pennsylvania is a huge Notre Dame area right so whole hours we were playing a preseason game against Green Bay Packers and one of the former coaches from Notre Dame who was now coaching that at that point coach at Wisconsin he brought his family up to see his brother who was a tidy and on on my team we're in the lobby he sees me he says plus see what in the end that the announcers bill he'll grow in my life legendary my uncle in the lobby heard him say it in in the game the next day bill here go says well you hear the voice neurosis Mister bush and in a modern pope he has a very unique voice he said.

CEO IBM Amazon John Charlie Pellett Ginni Rometty
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:04 min | 1 year ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Delivery without devastating its bottom line shares surging now by eleven point six percent after ours to tend to world is a Bloomberg intelligence senior internet analyst and you'll be on the conference call or listen to conference call he says he'll be looking for any updates on Amazon web services I think if if there are concerns raised about a W. S. more more concerns raised about how spending was sort of progress through the rest of the beyond beyond one to any sort of color they don't give guidance by any any color about yeah we're comin to about how profitability may evolve during this transition to one day shipping in this transition to be more resilient to to competition I think those things will will will get more attention on the call and again he was our guest on Bloomberg business week the shares of Amazon up now by eleven point nine percent also after the bell visa said the incentives that hands out the banks and retailers will climb faster than revenue and are on track to be at the high end of its target arrange for twenty twenty at new sending shares a visa down two point three percent Amazon sales fell in the fourth quarter on store engine sales fell in the fourth quarter of some of its top drugs face competition from lower priced rivals Amgen shares down two point eight percent and to be clear Amazon searching after ours up by eleven point six percent an update for the down the S. and P. and nasdaq S. and P. up ten reversing losses up three tenths dollars one twenty four up four tenths nasdaq up three tenths tenure the yield there one point five nine percent gold down two tenths of one percent I'm Charlie college that's Wilbert business slash Charlie thank you so much breaking news right now on the Bloomberg this is a big one IBM naming a new CEO Ginni Rometty stepping down as chairman president CEO she will continue as the executive chairman but Arvind Krishna name to the C. E. O. there also splitting the CEO and president jobs Carole James Whitehurst I believe the former CFO of delta he's.

chairman president CEO Arvind Krishna CEO Amgen CFO Carole James Whitehurst president executive chairman senior internet analyst Ginni Rometty IBM Bloomberg Charlie bell visa Amazon
"ceo ginni rometty" Discussed on WBZ NewsRadio 1030

WBZ NewsRadio 1030

02:18 min | 1 year ago

"ceo ginni rometty" Discussed on WBZ NewsRadio 1030

"Of American troops he says based on his conversations with general Miller that number could be reduced from fourteen thousand to eighty six hundred that he says would be enough to continue counterterrorism operations but he said any withdrawal would be conditions based and a peace agreement would be the best way forward you'll be holding talks here with Afghan officials as well that's CBS is Cammy McCormick reporting Canada's Conservative Party is advertising is leader as bland and its touting that as a virtue the move seen as an antidote to prime minister Justin Trudeau's Flashdance star power the party is counting on this very quality to help Andrew sheared defeat Trudeau's Liberal Party in national elections on Monday in the words of Canada's former conservative foreign minister John Baird quote he's not the sizzle he's the steak polls show here has a chance to defeat the liberals after a combination of scandals and high expectations damage Trudeau's prospects but here also has a bumpy ride he has been criticized for embellishing his resume and not revealing that he holds dual U. S. Canadian citizenship what thirty eight in time now for Bloomberg business day while they are usually direct competitors and IBM's vision of cloud computing Amazon and Microsoft will be allies rather than rivals that's what the customer needs is what to do first IBM CEO Ginni Rometty who is betting on the hybrid cloud which lets IBM offer services on corporate customers cloud based servers as well as on third party clouds operated by the likes of Amazon and Microsoft she says it's all about innovation sometimes your innovation will come from Google Amazon Microsoft IBM and you're gonna want to take advantage of wherever innovation comes from so after struggling to keep up in the cloud market for more than a decade Romani says IBM aims to partner with other tech giants by supporting clients as they shift sensitive data bases to the cloud regardless of which provider they use like an almost every business you have competition and cooperation how do you make it work as an example she points to IBM's thirty four billion dollar purchase of red hat last year as an open source software company it has to work across all platforms remaining neutral I'm Steve potus Bloomberg business on WBZ Boston's news radio is twelve thirty nine we check sports traffic and weather next what would you like to be better at.

"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:52 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Caroline heights spoke exclusively with IBM's Ginni Rometty about the future of technology as part of our CEO spotlight series there there isn't anybody I mean that doesn't want to reinvent the company with their data and always remember it can interesting statistics twenty percent status searchable the other eighty percent is owned by companies so they really can reinvent himself if they choose to use it so in chapter one what did everyone do first I felt a lot of pressure from a lot of new entrants to their industry start ups are those coming at them in everyone did what I would call customer facing apps right so whether it's on your phone and I would call in and outside in view of transformation so anything you can do to make how you interfaced with the company easier right so if you're the airlines if you're American Airlines really did a lot of things on the front end for customer service and the life that you would work on so outside in a custom wrapped in the beginning of the call out in so and we're with those all put those apps they would be out on a cloud so about twenty percent of I would say the cloud journey is passed so now you say why is there a chapter two what's so wrong with him what if people need to do and if I give an example you'll you'll I think see it because you do let's say you have insurance did you bought it on your on your phone wonderfully and you bought let's say was car insurance or renter's insurance and you were able to buy it well if you the plane it should be just that simple but now when you go to do that that kind of an app hits against all the current infrastructure in all of what you would call their either their legacy or their accrued assets are their mission critical systems that are out there and those are pretty brutal and need to change so chapter two is inside out so what it means is those wonderful customer apps they're bashing into these backends they have to be just as flexible so now you find chapter two and with clients are doing is they're saying Hey from the inside I want to take all those applications I have in my. nice them and to do that though I'm starting with mission critical work now I've got regulatory environment security all sorts of things and they're going to start with the world calls is a hybrid cloud in one other thing they're gonna have to do because all that experimentation that happened on the front and all those apps I column in many kinds you to random acts of digital lots of great ideas all over the place but they're not connected together so now I've got a scale a I two so I'm going to move to a hybrid cloud and the scale a I'd and that's really what chapter two is and I just saw a finish that with the the idea of a hybrid cloud is why and if you think about it because the world my total the whole world will move to a cloud of whole world wasn't born yesterday and so it's just like if you have a house and well you have a choice you could smash it down and build the whole thing brand new for like any client they have a lot of things they built a ready so they're gonna renovating a piece at a time and they're gonna find from chapter one theory have fiber fifteen clouds are working with they say wow what do I do now I've got five to fifteen clouds I'm gonna renovate piece by piece on my mission critical work and when a hybrid cloud does and this is why we bought red hat it is the answer to build something once run it anywhere so think of it as a horizontal platform they can run any cloud on your premise private cloud it really frees you to have a lot of flexibility for future as forced you to be a lot more flexible as a business does that make sense when you'll working with Sharon frenemies as such before ever was going where all you veces Mike's office is Amazon in the cloud nine working with myself and I was and how these partnerships going this is because because think about that's a very good point because this is always been something we felt so true about it's what the customer needs is what you do first right in our clients and they live in a world that ever if you're going to have for. sometimes your innovation will come from Google Amazon Microsoft IBM and you're gonna want to take advantage of wherever innovation comes from and that's actually the idea and the way the world is going so on one hand you want to build something once run anywhere in the second part is you want to get to innovation wherever it is and so like in almost every business you have competition and cooperation in this case and again when we bought red hat because it's a platform that goes across all of absolute commitment it's open source the world's leader to run and it does run on those platforms an absolute commitment to the integrity of that and that's really for our clients would you still seen mugs soft on as an as competition how do you make your name synonymous with cloud in the same way that they have missed it isn't our name we are the number one hybrid cloud player now in so what well that's what I want my name synonymous with number one hybrid cloud best partner to help make you a cognitive enterprise and that's a company that has got data in a I infused in all of the way it does its work because if you do that you have to have a hybrid cloud underneath it so I'm really about that digital transformation journey and that means at times you'll work with me and by the way you'll have many because you already have many cuts most clients I'll say that I've had so many say only because you think you have a safe to come back I have seven you don't realize what you have here and so the idea behind that is connect all of that together and then when you speak of just cloud alone the IBM cloud which is both private and public we really are the best cloud for mission critical work because of the security and to and it's there and our ability to take mission critical apps and you understand how those work that is our sweet spot that was IBM chair and CEO Ginni Rometty and coming up bill and Melinda gates foundation co chair of Microsoft.

Caroline heights IBM Ginni Rometty CEO twenty percent eighty percent one hand
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:09 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Co founder Howard marks the billionaire investor discusses the pressure points in private markets as Warren Buffett said when the tide goes out we find out who was when all this and more coming up in the next hour Bloomberg. Bloomberg's Karoline Hight spoke exclusively with IBM's Ginni Rometty about the future of technology as part of our CEO spotlight series there there isn't anybody I mean that doesn't want to reinvent the company with their data and always remember it can interesting statistics twenty percent status searchable the other eighty percent is owned by companies so they really can reinvent themselves if they choose to use it so in chapter one what did everyone do first I felt a lot of pressure from a lot of new entrants to their industry start ups are those coming at them everyone did what I would call customer facing apps right so whether it's on your phone and I would call in and outside in view of transformation so anything you can do to make how you interfaced with the company easier right so if you're the airlines if you're American Airlines really did a lot of things on the front end for customer service and the life that you would work on so outside in a customer at the beginning of the clout in so and where were those all put those apps they would be out on a cloud so about twenty percent of I would say the cloud journey is passed so now you say why is there a chapter two what's so wrong with it what if people need to do and if I give an example you'll you'll I think see it because you do let's say you have insurance did you bought it on your on your phone wonderfully and you bought let's say was car insurance or renter's insurance and you were able to buy it well if you the claim it should be just that simple but now when you go to do that that kind of an app hits against all the current infrastructure in all of what you would call their either their legacy or their accrued assets are their mission critical systems that are out there and those are pretty brutal I need to change so chapter two is inside out so what it means is those wonderful customer apps they're bashing into these backends they have to be just as flexible so now you find chapter two and what clients are doing is they're saying Hey from the inside I want to take all those applications I have in my. nice them and to do that though I'm starting with mission critical work now I've got regulatory environment security all sorts of things and they're going to start with the world calls is a hybrid cloud in one other thing they're gonna have to do because all that experimentation that happen on the front and all those apps I column in many kinds to to random acts of digital laughs a great ideas all over the place but they're not connected together so now I've got a scale a I to Simon and moved to a hybrid cloud and the scale a I and that's really what chapter two is and I just I'll finish that with the the idea of a hybrid cloud is why and if you think about it is the world my total no no no the whole world will move to a cloud. wasn't born yesterday and so it's just like if you have a house and well you have a choice you could smash it down and build the whole thing brand new for like any client they have a lot of things in built already so they're gonna renovating a piece at a time and they're gonna find from chapter one theory have fiber fifteen clouds are working with they say wow what do I do now I've got five to fifteen clouds and renovate piece by piece on my mission critical work and what a hybrid cloud does and this is why we bought red hat it is the answer to build something once run it anywhere so think of it as a horizontal platform they can run any cloud on your premise private cloud it really frees you to have a lot of flexibility for future and is forced you to be a lot more flexible as a business to a certain extent when you'll walking with a groan frenemies as such before ever was going where all you veces Microsoft versus Amazon in the cloud nine working with myself and I was and how these partnerships this is because because think about that's a very good point because this is always been something we've felt so true about it's what the customer needs is what you do first right in our clients and they live in a world that ever you're going to have for sometimes your innovation will come from Google Amazon Microsoft IBM and you're gonna want to take advantage of wherever innovation comes from and that's actually the idea and the way the world is going so on one hand you want to build something once run anywhere in the second part is you want to get to innovation wherever it is and so like in almost every business you have competition and cooperation in this case and again when we bought red hat because it's a platform that goes across all of them absolute commitment it's open source the world's leader to run and it does run on those platforms an absolute commitment to the integrity of that and that's really for our clients would you still seen mugs soft on as an as competition how do you make your name synonymous with cloud in the same way. they have almost it isn't our name we are the number one hybrid cloud player now in so when when I that's what I want my name synonymous with number one hybrid cloud best partner to help make you a cognitive enterprise and that's a company that has got data in a I'd infused in all of the way it does its work because if you do that you have to have a hybrid cloud underneath it so I'm really about that digital transformation journey and that means at times you'll work with me and by the way you'll have many clubs you already have many clouds most clients I'll say to I had so many say only because you think you have a safe to come back you don't realize what you have here and so the idea behind that is connect all of that together and then when you speak of just cloud alone the IBM cloud which is both private and public we we really are the best cloud for mission critical work because of the security and to and it's there and our ability to take mission critical apps and you understand how those work that is our sweet spot that was IBM chair and CEO Ginni Rometty and coming up bill and Melinda gates foundation co chair and Microsoft.

Bloomberg Ginni Rometty Warren Buffett IBM Co founder Karoline Hight CEO twenty percent eighty percent one hand
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:15 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"They belong to the creator and the third is for these technologies to be trusted they must be explainable free of bias in so we've I've learned this through as we bring out these technologies to doctors to actuaries the first question when they see any answers why do you have to explain it to me trusted so you have to have a set of principles and live by them and their deeply rooted in your own values by the way and I think this is trust is one of the determining factors of this area right now and so you got to be clear what they are you have got to live by them and so when you know in history when people asked us the government would say could I get into your software to see if we put you know never never never put a back door in our software for when in the United States when we were asked would we support legislation that said there should be if we knowingly had child sex trafficking on our cloud would we be liable that only took me five seconds to answer yes knowingly these are based on a set of values and so society has to know you're going to do that so I think in this day and age being clear and then there should be regulation but I call it precision regulation because I am very afraid if it's over reacted guilty real whole digital economy. until after the bad actors and so you know the consumer does have a right to know what day do you have be able to delete it corrected if it's there and if someone misuses it there should be regulation in liability for that particular things against the law. that was our exclusive interview with IBM chairman president and CEO Ginni Rometty and a reminder to tune in tomorrow on Bloomberg technology people for you more of our conversation with for many and you can go online to catch the full thirty minute conversation. now oracle is unveiled an operating system that runs without the need for human oversight it's part of a line of new software tools meant to make it easier for the company to transition to cloud computing oracle is the world's second largest software maker it's trying to revive sales growth after years of almost Sackett Rossendale. and.

United States Sackett Rossendale. IBM chairman president and CEO Ginni Rometty Bloomberg thirty minute five seconds
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:41 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Jenny Rometty started at IBM in nineteen eighty one became CEO in twenty twelve and is overseen a dramatic re positioning of the company as the Texas continues to evolve and transform the big blue exact has said that chapter two of tax evolution is centered around reinventing data IBM is invested heavily in this notion including Lasser's thirty four billion dollar acquisition of red hat Bloomberg Caroline hide spoke exclusively with Rometty about the growth of hybrid cloud and why it's unusual for competitors to also be collaborators. this is always been something we felt so true about what the customer needs which you do first right in our clients and they live in a world that ever if you're going to have for sometimes your innovation will come from Google Amazon Microsoft IBM and you're gonna want to take advantage of wherever innovation comes from and that's actually the idea and the way the world is going so on one hand you want to build something once run anywhere in the second part is you want to get to innovation wherever it is and so like in almost every business you have competition and cooperation in this case and again when we bought red hat because it's a platform that goes across all of them absolute commitment it's open source the world's leader to run and it does run on those platforms an absolute commitment to the integrity of that and that's really for our clients would you still seen mugs soft I'm as an as competition how do you make your name synonymous with cloud in the same way that they have missed it isn't our name we are the number one hybrid cloud player now in so what what I that's what I want my name synonymous with number one hybrid cloud best partner to help make you a cognitive enterprise and that's a company that has got data in a I infused in all of the way it does its work because if you do that you have to have a hybrid cloud underneath it so I'm really about that digital transformation journey and that means at times you'll work with me and by the way you'll have many clubs you already have many cuts most clients I'll say that I had so many say only because you think you have a safe to come back I have seven you don't realize what you have here and so the idea behind that is connect all of that together and then when you speak of just cloud alone the IBM cloud which is both private and public we really are the best cloud for mission critical work because of the security and to and it's there and our ability to take mission critical apps and you understand how those work that is our sweet spot. clients getting it I think three oh I know they're getting it so take an example delta take an example of eighteen T. AT T. we just recently announced it is to move all of eighteen T. business all of their applications on to the IBM hybrid cloud and as well with red hat it will be out into the network so your network services come faster and that is exactly what it is that we're able to do delta airlines a lot of work done with them as you friend and deal with your customers now modernize the back end to connect those two so when you re booking airline you'd like to be have not only can you rebook every associated thing that a passenger would want done those are all those back end systems connected to that real time while you're up in the air so delta big strong proponent of red hat as well and so it's red hat and IBM mission critical hybrid multi cloud multi cloud and open system so you get lots of innovation and it's very secure. red hat thirty four billion amazing opposition to someone who knew about positions you someone who helped integrate for example PWC's IT consulting business within IBM previously. how you insuring that the integration of business about hot yes well first of a couple words I I don't think the word is quote integration is a traditional and it's related to what you just asked me a minute ago so red hat as I said is the world's number one number one open source company and together with the number one hybrid cloud provider so when we acquired red hat which by the way it is a very fair price they are in very good company and a very profitable company which is not usually high growth high profit is not associate with some of the cloud company I know what the reason I. outstanding firm built over many years and IBM's work with her had over twenty years we were the original folks that really helped propel open source on to the stage we put a billion dollars into something called Lennix back then because the architecture of the future it has been decided now and I know these are you know just not everyone is familiar with all the tech pieces of this but it will be Lennix it will be the spot of containers on top and something called Cooper nineties that moves the containers around just like you thought of the past the internet and how it was run this is the future architecture I think that war is over that is the architecture the future that is what red hat is and they are the number one there and so when we when we acquired them we have two roles with them I think if it is horizontal vertical on one hand we are leaving them as a separate and distinct unit and I have had plenty of experience as you said I've done sixty acquisitions in my time and because for real important reason they will participate and continue to be the leader in open source so it's a very different community out there they must remain committed to neutral to that the second is to have to be on our competitors platforms so I want them to see firm neutrality on them so they will work and put themselves on all those platforms as they do today and then what IBM does to think of them as completely non biased IBM will be opinionated so what we will do is we take their products we make the best mission critical cloud private in public and that's what clients need and I have already built all my software to take advantage of theirs so you can actually now take IBM's entire Keese offer portfolio and can run anywhere to clients that is a dream to be able to renovate all the mission critical apps the world are built on IBM so we now only the origin we own the starting point the world is already have more than half Lennix which is what red hat is. and then the destination is that architecture. that was our exclusive interview with IBM chair and CEO Ginni Rometty be sure to tune in all week at two thirty PM eastern for more of our extended conversation with IBM's Ginni Rometty on Tuesday they discuss IBM's pushing the quantum and what big blue is doing to attract talent from all corners and.

Jenny Rometty IBM CEO Texas one hand thirty four billion dollar billion dollars twenty years
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:10 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Own that's leased for a longer period of time that presumably have better unit economics and again this is a company with on certain financial model and it's on the hook for fifty billion dollars in lease payments so you know the mismatch between the question marks around its ability to profit ever and the money that it lose the whole call cold hard cash than it does in coming years you know that's certainly a red flag for me. Ellen I think we were a little bit surprised that we work plan to go through the IPO go through with the road show giving the soft things hesitancy or perhaps pressure maybe not to any idea at this week during the brochure one we start to see kick off how that relationship between we work in softbank may change I think it's it's still to be determined you know part of the interest in following this story has been trying to track this disagreement internally I'm sure within softbank within we work between the two companies with some of the things about how best to proceed and you know part of why we work is so interested in continuing for with the IPO for this we have to manage and continue for with the idea despite reservations and and hesitation from other parties is because they really need this cash and it's not just the three billion or so that they're hoping to raising the IPO but it's the contingent six billion of additional you know credit facility that they get access to only if they have a successful IPO that raises at least three billion dollars this is something you can read about in the S. one and so there's a lot at stake for we work to try to make something work right to try to see if they can move forward with the plan as had originally been discuss I think changes are still a possibility but that certainly I have to imagine not what they would hope would happen well we know the bondholder certainly have been the gauge right on on how well they think that the IPO because is doing that was Bloomberg opinions here of the day and Bloomberg technologies and when he wakes thank you for joining me. and coming up our exclusive interview with IBM CEO Ginni Rometty as he discusses red hat and the future of the company this is one. first keep their import tools close by which may.

Ginni Rometty softbank Bloomberg Bloomberg technologies Ellen CEO IBM fifty billion dollars three billion dollars
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

11:20 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Another thunder from pops up in the Gulf in a range over the water it means it's not raining over land power has been restored in Manhattan after a blackout seventeen the cause problems for subway riders tourists and even a Jennifer Lopez concert con ed restored electoral service on the west side of Manhattan after the widespread power outages canceled shows and then tens of thousands of people onto darkened street but seventy two thousand people were affected I'm but from the Bloomberg interactive brokers studio this is Bloomberg best IBM closed its thirty four billion dollar purchase of red hat sealing the world's second largest technology deal ever IBM is playing catch up to market leaders Amazon and Microsoft in offering computing in other software and services over the internet Bloomberg's David Westin spoke with IBM CEO Ginni Rometty and red hat CEO James Whitehurst about their company's merger junior Mr with you right the top of your press release you say that this acquisition of red hat now you've completed will position IBM as a leader in hybrid cloud why is that important well I recalls important because it's important to our clients it is the destination for the cloud Dave I think a lot of times people think of why everything's gonna move to one public cloud that is not what we see clients need want and are even targeted to it is this idea that I've got an existing a state like a house I'm gonna modernizes and I have five to fifteen public clouds already private clouds on pram it is a modern idea modernize an app I'm gonna put it where I want and then I have to manage and secure all that that is the destination in for the next generation we give them now a platform between red hat and IBM that runs on any public cloud that runs private that runs traditional and they can write an app once run anywhere secure and manage it that is a distinct and unique capability and that's what I mean by the hybrid cloud and that does make us the leader in that others talk it but they may have just a connection between their public cloud in their private cloud descend now allows us to be multi coloured everywhere what will is G. says of Jim the the you got some other competitors out there in the cloud not hybrid cloud the cloud that are pretty darn big people like Amazon Google house is going to help you catch up to them or is that even the goal I'll start for the red hat component our goal is to be an even better partner with those clouds they're great partners our software runs on those clouds it runs on premise it runs on IBM's caught it runs on on those clouds so they will continue to be great partners for us and as we are capable of moving many more workloads on to our software platform that's more workloads if those clouds can actually go in address and run so my conversations with the major clouds have been very very positive because these they see this is an opportunity to get more workloads out in data centers running on the clouds do you think of that that's a really important reason to do this for us our clients want us to be able to take our platform in running anywhere so these are both partners and we cooperate or in competition on the other side Ginny you've wrapped up the IBM percentage of your revenue from the cloud dramatically from selling four percent to twenty five percent a reason sure pretty time what's the ultimate goal world is get you to well look and now that is an ultimate goal as you think about the clients moving their work eighty percent are working to move to the hybrid cloud so this will continue on and again when we look at our revenues it transcends everything from our public cloud private cloud now these platforms it'll be on other clouds included in our services revenue so it isn't that it's a goal is to move with the same journey that our clients need to move with and what what what moving Jenny what I'm going with the overall size of the cloud expanding how much of this will just be riding with the cloud up and how much will be actually taking market share from other cloud providers yes so look for IBM itself one way to think about this is two hundred basis points of revenue growth CAGR over a five year period and so this is what did Jim just said a minute ago the import part to think of it is our own cloud the IBM IBM public cloud in our private cloud together should be the very best for mission critical work clients so as I said if I did fifteen calls already so we also want to have our platform running everywhere else so as far as I'm concerned growth anywhere is going to be good for IBM yeah it's interesting this is all about helping our clients provide more value to their customers right so when client builds a new application new website a new mobile application the opportunities for us to participate weather is helping them build the application helping them integrate that with data having it run on our platform have it run on IBM's cloud any of those components are you know areas of incremental value that we can you know participate in as our customers create more value for their customers let's talk about how this will work together IBM red hat together because the second line you're Presley's actually talked about IBM preserving red hat independence Jim how important is that to the people who work at red hat right now hi is really important not only just to the people who work at red hat to our commercial success we talk a lot to work capabilities driven company our capability around open source allows us to be involved in these communities and to have a durable success whether was when X. OpenStack commodities in containers and that capabilities tied up in our culture and so it's not just our people one our culture that we which you give his true but it is integral to our success I think IBM recognizes that so this is about bringing our two cultures to work together to create unique value not to integrate to create one culture at the same time if they truly are independent then how do you get two plus two equaling five because normally they did independent organizations to pose to just because for yes no no no no eighty in so remember we've been that open source for twenty years along with red hat and so we understand when Jim says both it's both believe it's important for the right reasons so with Jim's company in red hat has done is bill that ecosystem and in open source with its unique Turman conditions and its ecosystem so on one hand we say preserve it that's what we're preserving the Oregon health and extend their reach in two hundred and seventy five countries on the other hand the synergy that IBM with our current products are those are going to work and you'll be seeing a lot of announcements this summer they will work the best on the red hat platform which is number one around the world so think of the word synergy which is different than in maintaining independence at the same time and so on one hand I take Jim's platform I not only go to new countries I then also go across all the other clouds the other side IBM runs the best on it in so we really at the end of the day you also have the only multi car platform out there so it is great synergy between the two and we do things to work better with each platform yeah I think that's an important emphasized we're working to build the best hybrid cloud platform but nobody buys a hybrid cloud platform to look at it or even do you buy it and to build applications or to move applications and so the capabilities that IBM brings whether it's their own software stack is one of the largest ISVs their systems integration capability application development capability is how you actually put workloads on that hybrid cloud platform and so coming together and allows us to certainly dramatically celery our business and I think dramatically salaried our clients businesses which of course creates value throughout that that change is getting only ask of global question if I could if in fact to have this when you call chapter two of the cloud which is hybrid cloud with the core enterprises really putting more more their operations up on the cloud they have to live transfer across borders and yet we're getting some some some real resistance were saying certainly in the E. U. as you know there's a lawsuit pending right now in Ireland will the apple we got your trade problems with China what kind of a threat could it be to the growth the clock not just for IBM red hat but for everyone if in fact you got a comp and countries really set down the law on transfer of data across borders yes look this is the most important reason one of the most important reasons people put in a hybrid cloud I mean think of that I think of the credit card companies we work with today if you're in a country like India that says no I want that date a localized here let's say I built my big credit card applications in two spots in the world I have to move an entire place there no if you build on our platform it's it's fine we can put it we can move the data to where it has to be this is really the critical point about a hybrid cloud apps and data can be where you need them to be and that could be for regulatory reasons cost reasons just the way the application functions and we give them that choice that is and it's a great question could but this is the solution to that issue so is that right Jim does that really facilitate for example China says we want all the data reside inside China we don't know what else up your combination of red hat and IBM will actually facilitate that so that in fact companies can just say we want the data all in China yes so absolutely so we are platform for instance is certified and works on Ali Ali cloud and so the ability seven written once and maybe I'm really trying to my own datacenter run on as you or I can now move that Ali cloud without ever changing the code because we are delivering the same infrastructure that that application runs on whether it's on Amazon Google Ali Baba or in your own data center and that's what we're delivering that's the promise and delivering the SL and Ginny finally let me ask you the most blunt question would you buy for thirty four billion dollars and we will put it this way quite specifically it is all open source for the most part as I understand it is this not so much a technology acquisition is perhaps a really big apple higher it's the people of red hat look the people of red hat are critically important but so is the ecosystem and there is a lot of technology and red hat I mean this is why at their at their company very profitable company that last mile for an enterprise which you are providing is support service in certification and packaging so that is technology and that is critical no one puts that in an enterprise without those features in fact we can rattle off the cases of where they used open source without that and had a lot of problems because enterprises have to be sure it is secure and to end it has been for vision vision controlled and so this is actually to me not only technology play a talent play as well as an ecosystem play in a platform play so this is been I think a great acquisition and if I judge it by our client reception client Jim and I both talked about this a lot hundred percent from clients and whether it's delta airlines to Morgan Stanley they see their futures at hyper cloud and they want that freedom of choice to whether it's to address the competitive issue environment regulatory as you said this is what we've just provided then uniquely that was IBM CEO Ginni Rometty and red hat CEO James Whitehurst and that's all for this edition of Bloomberg best you can see all of our best work at in my best go on the Bloomberg terminal our show is produced by Carolina Brian.

Gulf Manhattan Jennifer Lopez one hand thirty four billion dollars thirty four billion dollar twenty five percent hundred percent eighty percent four percent twenty years five year
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

10:28 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"And Microsoft in offering computing in other software and services over the internet Bloomberg's David Westin spoke with IBM CEO Ginni Rometty and red hat CEO James Whitehurst about their company's merger did you know Mr with you right the top of your press release you say that this acquisition of red hat now you've completed will position IBM as a leader in hybrid cloud why is that important well I recalls important because it's important to our clients it is the destination for the cloud here Dave I think a lot of times people think of why everything's gonna move to one public cloud that is not what we see clients need want and are even targeted to it is this idea that I've got an existing a state like a house I'm gonna modernizes and I have five to fifteen public clouds already private clouds on pram it is a modern idea modernize an app I'm gonna put it where I want and then I have to manage and secure all that that is the destination in for the next generation we give them now a platform between red hat and IBM that runs on any public cloud that runs private that runs traditional and they can write an app once run anywhere secure and manage it that is a distinct and unique capability and that's what I mean by the hybrid cloud and that does make us the leader in that others talk it but they may have just a connection between their public cloud in their private cloud descend now allows us to be multi coloured everywhere what will is Jeannie says of Jim the the you got some other competitors out there in the cloud not hybrid cloud the cloud they're pretty darn big people like Amazon Google house is going to help you catch up to them or is that even the goal I'll start for the red hat component our goal is to be an even better partner with those clouds they're great partners our software runs on those clouds it runs on premise it runs on IBM's con it runs on on those clouds so they will continue to be great partners for us and as we are capable of moving many more workloads on to our software platform that's more workloads if those clouds can actually go in a dress and run so my conversations with the major clouds have been very very positive because he's they see this is an opportunity to get more workloads out a data center fronting on the clouds do you think of that that's really important reason to do this for us our clients want us to be able to take our platform in running anywhere so these are both partners and we cooperate or in competition on the other side Ginny you've ramped up the IBM percentage of your revenue from the cloud dramatically from selling four percent to twenty five percent a reason which are pretty time what's the ultimate goal world this get you to well look and now that is an ultimate goal as you think about the clients moving their work eighty percent are working to move to the hybrid cloud so this will continue on and again when we look at our revenues it transcends everything from our public cloud private cloud now these platforms it'll be on other clouds included in our services revenue so it isn't that it's a goal is to move with the same journey that our clients need to move with and what what what moving Jenny that what I'm doing with the overall size of the cloud expanding how much of this will just be riding with the cloud up and how much will be actually taking market share from other cloud providers yeah so look for IBM itself one way to think about this is two hundred basis points of revenue growth CAGR over a five year period and so this is what Jim just said a minute ago the import part to think of it is our own cloud the IBM IBM public cloud in our private cloud together should be the very best for mission critical work clients so as I said if I did fifteen clouds are ready so we also want to have our platform running everywhere else so as far as I'm concerned growth anywhere is going to be good for IBM yeah its interests I said this is all about helping our clients provide more value to their customers right so when client building new application new website a new mobile application the opportunities for us to participate weather is helping them build the application helping and integrate that with data having it run on our platform have it run on IBM's cloud any of those components are you know areas of incremental value that we can you know participate in as our customers create more value for their customers let's talk about how this will work together IBM red hat together because the second line you Presley's actually talked about IBM preserving red hat's independence Jim how important is that to the people who work at red hat right now that is really important not only just to the people who work at red hat to our commercial success we talk a lot that work capabilities driven company our capability around open source allows us to be involved in these communities and to have a durable success whether was Lennix OpenStack commodities in containers and that capabilities tied up in our culture and so it's not just our people one our culture that we which you give is true but it is integral to our success I think IBM recognizes that so this is about bringing our two cultures to work together to create unique value not to integrate to create one culture at the same time June if they truly are independent then how do you get too close to equaling five because normally they did independent organizations to pose to just because for yes no no no no eighty in so remember we've been at open source for twenty years along with red hat and so we understand when Jim says both it's both believe it's important for the right reasons so with Jim's company in red hat has done is bill that ecosystem and in open source with its unique Turman conditions and its ecosystem so on one hand we say preserve it that's what we're preserving the Oregon health and extend their reach in two hundred and seventy five countries on the other hand the synergy that IBM with our current products are those are going to work and you'll be seeing a lot of announcements this summer they will work the best on the red hat platform which is number one around the world so think of the word synergy which is different than in maintaining independence at the same time and so on one hand I take Jim's platform I not only go to new countries I then also go across all the other clouds the other side IBM runs the best on it in so we really at the end of the day you also have the only multi car platform out there so it is great synergy between the two and we do things to work better with each platform I think that's an important emphasized we're working to build the best hybrid cloud platform but nobody buys a hybrid cloud platform to look at it right you can do you buy it and to build applications or to move applications and so the capabilities that IBM brings whether it's their own software stack is one of the largest science vis their systems integration capabilities application development capability is how you actually put more clothes on that hybrid cloud platform and so coming together it allows us to certainly dramatically celery our business and I think dramatically salaried our clients businesses which are of course creates value throughout that that change is getting only ask a global question if I could if in fact to have this when you call chapter two of the cloud which is hybrid cloud with their core enterprise really putting more more their operations up on the cloud they have to live transfer across borders and yet we're getting some some some real resistance were saying certainly in the E. U. as you know there's a lawsuit pending right now in Ireland will the apple trade pros to China what kind of a threat could it be to the growth the clock not just for IBM red hat but for everyone if in fact you got comp id countries really sit down the law on transfer of data across borders yes look this is the most important reason one of the most important reasons people put in a hybrid cloud I mean think of that I think of the credit card companies we work with today if you're in a country like India that says no I want that date a localized here let's say I built my big credit card applications in two spots in the world I have to move an entire place there no if you build on our platform it's it's fine we can put it we can move the data to where it has to be this is really the critical point about a hybrid cloud apps and data can be where you need them to be and that could be for regulatory reasons cost reasons just the way the application functions and we give them that choice that is I mean it's a great question could but this is the solution to that issue so is that right Jim does that really facilitate for example China says we want all the data reside inside China we don't know what else up your combination of red hat and IBM will actually facilitate that so that in fact companies can just say we want the data all in China yes so absolutely so we are platform for instance is certified and works on Ali Ali cloud and so the ability seven written once and maybe I'm really trying to my own datacenter run on as you or I can now move that to Ali cloud without ever changing the code because we are delivering the same infrastructure that that application runs on whether it's on Amazon Google Ali Baba or in your own data center and that's what we're delivering that's the promised we're delivering the SL and Jimmy finally let me ask you the most blunt question would you buy for thirty four billion dollars and we will put it this way quite specifically it is all open source for the most part as I understand it is this not so much a technology excision is perhaps a really big apple higher it's the people of red hat look the people over had are critically important but so is the ecosystem and there is a lot of technology and red hat I mean this is why at their that their company very profitable company that last mile for an enterprise which you are providing is support service in certification and packaging so that is technology and that is critical no one puts that in an enterprise without those features in fact we can rattle off the cases of where they used open source without that and have a lot of problems because enterprises have to be sure it is secure and to end it has been for vision vision controlled and so this is actually to me not only technology play a talent play as well as an ecosystem play in a platform play so this is been I think a great acquisition and if I judge it by our client reception client Jim and I both talked about this a lot hundred percent from clients and whether it's delta airlines to Morgan Stanley they see their future is that hybrid cloud and they want that freedom of choice to whether it's to address the competitive issue environment regulatory as you said this is what we just provided them uniquely that was IBM CEO Ginni Rometty and red hat CEO James Whitehurst and that's all for this edition of Bloomberg best you can see all of our best work at in my best go on the Bloomberg terminal our show is.

Microsoft Bloomberg David Westin Ginni Rometty IBM CEO CEO James Whitehurst one hand thirty four billion dollars twenty five percent hundred percent eighty percent four percent twenty years five year
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:17 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Software and services over the internet Louis David Westin spoke to the CEOs of both IBM and red hat earlier recalls important because it's important to our clients it is the destination for the cloud here David I think a lot of times people think of why everything's gonna move to one public cloud that is not what we see clients need want and are even targeted to it is this idea that I've got an existing estate on the house I'm gonna modernizes and I have five to fifteen public clouds already private clouds on pram it is a modern idea modernize an app I'm gonna put it where I want and then I have to manage and secure all that that is the destination and for the next generation we give them now a platform between red hat and IBM it runs on any public cloud that runs private that runs traditional in they can write an app once run anywhere secure and manage it that is a distinct and unique capability and that's what I mean by the hybrid cloud and that does make us the leader in that others talk it but they may have just a connection between their public cloud in their private cloud this in now allows us to be multi coloured everywhere what will is Jeannie says of Jim the the you got some other competitors out there in the cloud not hybrid cloud the cloud they're pretty darn big people like Amazon Google how is this going to help you catch up to them or is that even the goal I'll start for the red hat component our goal is to be an even better partner with those clouds they're great partners our software runs on those clouds it runs on premise it runs on IBM's caught it runs on on those clouds so they will continue to be great partners for us and as we are capable of moving many more workloads on to our software platform that's more workloads at those clouds can actually go in a dress and run so my conversations with the major clouds have been very very positive because these they see this is an opportunity to get more workloads out of datacenters running on the clouds do you think of that that's a really important reason to do this for us our clients want us to be able to take our platform in running anywhere so these are both partners and we cooperate or in competition on the other side G. you've wrapped up the IBM percentage of your revenue from the cloud dramatically from selling four percent to twenty five percent reason sure pretty time what's the ultimate goal world this get you to well look and not that is an ultimate goal as you think about the clients moving their work eighty percent are working to move to the hybrid cloud so this will continue on and again when we look at our revenues it transcends everything from our public cloud private cloud now these platforms it'll be on other cloud included in our services revenue so it isn't that it's a goal is to move with the same journey that our clients need to move with and what what what moving Jenny what I'm going with the overall size of the cloud expanding how much of this will just be riding with the cloud up and how much will be actually taking market share from other cloud providers yeah so look for IBM itself one way to think about this is two hundred basis points of revenue growth CAGR over a five year period and so this is what Jim just said a minute ago the import part to think of it as our own cloud the IBM IBM cloud in our private cloud together should be the very best for mission critical work clients so as I said if I detecting clouds are ready so we also want to have our platform running everywhere else so as far as I'm concerned growth anywhere is going to be good for IBM yeah it's interesting this is all about helping our clients provide more value to their customers right so when client building new application new website a new mobile application the opportunities for us to participate weather is helping them build the application helping them integrate that with data having it run on our platform have it run on IBM's clout any of those components are you know areas of incremental value that we can you know participate in as our customers create more value for their customers Cheney were many the CEO of IBM there along with Jim white hers the CEO of red hat joining us now to discuss further bloom attacks a livia carvel in new York's Olivia this is a huge deal one of the biggest tech deals in history will this really give IBM a competitive advantage I think that's the big question here is what does the read head acquisition actually defy IBM and if you think about IBM's history we have a one hundred and eight year old American icon that has a large living now and for its mainframe cycles and in the last couple of years they've been trying to reinvent themselves this acquisition of read head is essentially IBM trying to read into the cloud space is a totally different company it's trying to transform what is fame providing sofa and change the game we've heard IBM CEO Ginni Rometty ilia cool this at a game changer for IBM and it's important to think about why this is going to be so significant for not only IBM but for the for the wide of cloud space and also if the other cloud providers like Amazon Microsoft and Google who will now be saying as partners to IBM rather than rivals choosing what some of the risks to this new strategy and and and what could go wrong I think that one of the biggest risks here is whether or not read head will really be able to fold into IBM this company is no one to his as a storage an old school corporate work culture so will this open source Lennix providing company called read head which has been known to be a bit of a renegade and revolutionary in the spice really be able to come into the IBM family we've heard Ginny remediate and Jim white has the CEO of repair talking about how within this acquisition Rehat will remain independent it will remain a distinct unit within IBM so it will have its own consulting services at sign sales its own terms and conditions three hate leadership team including Jim white has the C. R. will remain within read head and they'll be able to talk to their own clients rather than through IBM so the hoping that in order to maintain read hits independence this integration will really work seamlessly we've heard Ginni Rometty use these warrants hybrid cloud before and and fact talking about it for the last several years as they've tried to navigate this transition how is what IBM is trying to do different than what Amazon web services Microsoft and Google do with their class right Sir Amazon Microsoft Google they provided different public cloud networks that has this particular kinds of strengths like Amazon stream for example is its infrastructure services or sales for US forces clouds streamed as its customer relationship management platform and when you see companies that are kind of buying into the services and using these clouds for different types of reasons and what IBM is attempting to do is to become the glue that will stick to give that will can meet all of those different clouds on to one platform so you may be a company that needs to use sales force for a particular reason and needs to use Amazon for another reason and it means that you may end up with up to fifteen different cloud providers who will operate independently and different silos and you have no way to actually bring them all together IBM is hoping that it will be able to the calm the connective tissue that any sense a lines all of these different clouds under one platform and one of the really interesting things here is that this this idea of this is the straight at this kind of strategic move to become partners with some of these former competed is like Amazon Microsoft Google is what IBM actually did back in the nineteen nineties regarding its global sin fitness services platform it became a kind of partnered up with software providers and seated and will allow you to run your applications smoothly on our habia will partner with you rather than compete against here and this will save the company so they really trying to do the same thing again a potentially huge technological transition under way if they can execute that Bloomberg's a livia car of all of it thanks so much for that context they're.

Louis David Westin IBM twenty five percent eighty percent four percent eight year five year
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:07 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Rometty and red hat CEO Jim Whitehurst earlier today let's take a listen did you know Mr with you right the top of your press release you say that this acquisition of red hat now you've completed will position IBM as a leader in hybrid cloud why is that important well I recalls important because it's important to our clients it is the destination for the cloud you know David think a lot of times people think of why everything's gonna move to one public cloud that is not what we see clients need want and are even targeted to it is this idea that I've got an existing a state like a house I'm gonna modernizes and I have five to fifteen public clouds already private clouds on pram it is a modern idea modernize an app I'm gonna put it where I want and then I have to manage and secure all that that is the destination in for the next generation we give them now a platform between red hat and IBM it runs on any public cloud that runs private that runs traditional in they can write an app once run anywhere secure and manage it that is a distinct and unique capability and that's what I mean by the hybrid cloud and that does make us the leader in that others talk it but they may have just a connection between their public cloud in their private cloud this and now allows us to be multi coloured everywhere what will is G. says of Jim the the you got some other competitor in the cloud not hybrid cloud the cloud they're pretty darn big people like Amazon Google house is going to help you catch up to them or is that even the goal I'll start for the red hat component our goal is to be an even better partner with those clouds they're great partners our software runs on those clouds it runs on premise that runs on IBM's caught it runs on on those clouds so they will continue to be great partners for us and as we are capable of moving many more workloads on to our software platform that's more workloads at those clouds can actually go in a dress and run so my conversations with the major clouds have been very very positive because these they see this is an opportunity to get more workloads out of datacenters running on the clouds do you think of that that's a really important reason to do this for us our clients want us to be able to take our platform in running anywhere so these are both partners and we cooperate or in competition on the other side Ginny you've wrapped up the IBM percentage of your revenue from the cloud dramatically from selling four percent to twenty five percent reason sure pretty time what's the ultimate goal world this get you too well look and not that is an ultimate goal as you think about the clients moving their work eighty percent are working to move to the hybrid cloud so this will continue on and again when we look at our revenues it transcends everything from our public cloud private cloud now these platforms it'll be on other clouds included in our services revenue so it isn't that it's a goal is to move with the same journey that our clients need to move with and what what what moving Jenny what I'm doing with the overall size of the cloud expanding how much of this will just be riding with the cloud up and how much will be actually taking market share from other cloud providers yeah so look for IBM itself one way to think about this is two hundred basis points of revenue growth CAGR over a five year period and so this is what Jim just said a minute ago the import part to think of it is our own cloud the IBM IBM public cloud in our private cloud together should be the very best for mission critical work clients so as I said if I detecting clouds are ready so we also want to have our platform running everywhere else so as far as I'm concerned growth anywhere is going to be good for IBM yeah it's emphasize that this is all about helping our clients provide more value to their customers right so when client building new application new website and new mobile application the opportunities for us to participate weather is helping them build the application helping them integrate that with data having a run on a platform have it run on IBM's cloud any of those components are you know areas of incremental value that we can you know participate in as our customers create more value for their customers let's talk about how this will work together IBM red hat together because the second line you're Presley's actually talked about IBM preserving red hat independence Jim how important is it to the people who work at red hat right now it is really important not only just to the people who work at red hat to our commercial success we talk a lot to work capabilities driven company our capability around open source allows us to be involved in these communities and to have a durable success whether was Lennix OpenStack commodities in containers and capabilities tied up in our culture and so it's not just our people one our culture that we would see it is true but it is integral to our success I think IBM recognizes that so this is about bringing our two cultures to work together to create unique value not to integrate to create one culture we've been listening to IBM CEO Ginni Rometty at red hat CEO Jim up white hers in a conversation it with Bloomberg television anchor David Westin talking about how this isn't just a bit of four scale it is also a strategic move for both companies IBM shares today trading lower just a touch although in general there has been a real move higher there without shares of IBM up twenty six five point eight percent twenty five point eight percent since the end of last year so a real Bull Run there but we are seeing more consolidation in the technology space one of the big deals of the day was the one that has been continually highlighted by by our own Dave will say in it which again shows this on going ugh consolidation with Cisco buying a cashier for two point six billion dollars to add optical technology the expectation is we'll continue to see more consolidation coming up we have a conversation about the dollar will it continue to weaken as many people expect are in as president trump tries to push it lower or will it strengthen as the ECB starts taking the helm out with potentially another round of quantitative easing I'm Lisa brown what's my co host and colleague Paul Sweeny out in Idaho.

CEO Jim Whitehurst eight percent six billion dollars twenty five percent eighty percent four percent five year
"ceo ginni rometty" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:52 min | 2 years ago

"ceo ginni rometty" Discussed on Bloomberg Radio New York

"Years see more bombs more you market with each other on Bloomberg radio coming up we're gonna be talking about tie ups in the boutique broker dealer space Piper Jaffray agreeing to buy Sandler o'neill would talk about why and who may be next plus we're gonna hear from IBM CEO Ginni Rometty and red hat CEO Jim Whitehurst right now its head over to Gregg Jarrett free press this movie is still in the red release led lower by materials utility stocks investors are looking a recent profit warnings and her standing by for more clues on the path for U. S. monetary policy they expect coming congressional testimony in the next couple of days Mickey levy Bernburg capital markets chief U. S. Americas Asia economists tells Bloomberg a fed cut will not come to the rescue of this economy financial market absolutely love when central banks fees but will it really help the economy and the answer is no take your all of the problems facing Europe or non monetary they're all about brexit China how is more monetary ease gonna help we check the markets every fifteen minutes throughout the trading day on Bloomberg ready of the S. and P. five hundred about a tenth of a percent out for that was down four tenths of a percent a hundred thirteen of the nasdaq up attempt which sent up nine ten years down one thirty second kneel two point zero five percent was Texas intermediate crude is down two tenths percent fifty seven fifty seven umbrella comics gold is little changed at fourteen hundred dollars an ounce the dollar yen is a one oh eight seventy for the euro dollar twelve ten of the bridge found a dollar twenty four seventy let's stick with your foot see is down two tenths of a percent of action for me down nine tenths of percent cap the players so that's a Bloomberg business flash with mark market continues out with each other thank you so much Gregg.

Piper Jaffray Sandler o'neill Ginni Rometty Bloomberg Europe IBM CEO Jim Whitehurst Gregg Jarrett U. S. Mickey levy Bernburg capital U. S. Americas Asia China Texas fourteen hundred dollars one thirty second zero five percent fifteen minutes
"ceo ginni rometty" Discussed on WSJ The Future of Everything

WSJ The Future of Everything

12:11 min | 2 years ago

"ceo ginni rometty" Discussed on WSJ The Future of Everything

"Displacement. Yeah. New jobs that come into being that we don't know. And even for those of us who who don't have jobs, gone, the jobs change a lot. So really you. Can you talk a little bit about the what you because you've said, it's a very dramatic chain. Yeah. And how we were coming that will have been ramification. This has been my my biggest topic to want to keep coming. Actually brought this up at Davos is my third year on this topic first off because the first couple years. It was everybody was what percentage is going to change. And I said, it doesn't really matter to be honest. I mean technologies change jobs every area of looked. But this time is one hundred percent in this faster. And so if it's one hundred percent in this is what I believe leads to one of the biggest issues, I've said all different ways skills as the issue of our time because now you've got generations of people working in their job is changing in. So I may be fifty years old six year in my job. What I did. Or what I did is now going to be paid less, and I've got to add another skill to it. That's to me this big issue. So if you if you believe which I do really believe that we are going to leave people behind like in the US, Matt you cannot have a country where two sides have all the benefits of this technology history shows when there's great new technology inventions, the structure of physical infrastructure in societal infrastructure has to change it wasn't maybe so Vert. It's always like when you can look back. It's always clear and. It took longer the relaunch periods. If they were do adjust right here. I really think for us one of the biggest biggest things is. So you can't leave everyone a big swath of society feeling disenfranchise and left behind in. That's potentially. What's in front of us are right in front of us, in some cases. So because for one look all of us. We get seven thousand resumes a day, we can hire the people we need an IBM. However, the whole world doesn't have university degrees. The whole world does not have PHD's. And so you look at what caused Brexit. What caused some of this unrest is issues of people saying, hey, look my future. I'm not sure this looks much better out here. So what's in this technology, any of the they're not gonna make it easier for me? So what I'm a really strong proponent of is that this won't be sowed by government, but business in government together can make a huge dent. But you've got to believe a couple of things you have to believe some different paradigms that you'll hire people preach. Jobs on skill versus diplomas or degrees gate. I've I have a whole the whole company of university impeach dis. But there are jobs that can be done different ways. You have to believe that there are different pathways to get a good paying job other than a college degree, we've made some inroads than I think other companies have in there's great hope for this. And I'm not deceptive mystic Optimus based on fact. And so, and then I so you have to have different pathways. And I think you have to remove a stigma that it is a bad thing to be people say blue collar, white collar, we've come up with this title of new collar, meaning no problem. You don't have to have university degree, you can have these contemporary skills, and you could be a cyber expert not necessarily with a university degree. So couple ideas. I would share one of them would be all of us do reskilling. I do half a billion years. So that that goes without saying any any company, I should prepare you to be employable. I don't guarantee employment, but I should prepare you to be employable that. It should be that should be a commitment. How do you? I mean, do you have a lot more mandatory training and reskilling either within the company that yes? And I talk a lot with our clients on this one of the things is and I believe everyone should do this first off we used to do skill planning. Once a year, we do it every quarter. Now, we also go through what skills are in surplus in the market in what skills are leading edge skills or lagging in everyone knows where their skills fall on that matrix in you know, that if you're in surplus in a in a skill that is lagging you gotta get yourself to another area. This idea that people don't need to be left behind in. By the way, age doesn't matter. Our data proves it. We've retrained the whole workforce it is irrespective of age their ability to move forward into these new areas just goes to the point a bit a bit. How many companies and customers you work with all kinds of companies all sizes get a I get what it is. What's the gap between the perception of what it is the reality of what a community groom? But they okay. Well, they've formed or. Or are we just sort of filled with size Seifi images that aren't accurate? Well, I think it's a shame that some of the rhetoric is about how bad it could be like any technology, it it can do great things and it can be used for challenging things in. So I this is why I think it's really important that we all bring it in safely into the world right in that's true with any kind of technology. So when you think of what you hear on one end is what people call generally, I like can imitate a human actually imitating human most of the I know today people would call narrow it learns to do one thing in one domain, that's kind of the two spectrums. That's where we're at today, but we're moving into something called broad AI. And this is where we're doing a lot of work, which says, you know, I knew how to do one thing in a domain. I can learn the next Jason thing. And and that would be as that example, like we're just talking about the roofs in the hail, right? I know roofs, I've seen I've seen hail. Okay. Now, I can see wind damage. I can learn that my. Self in. So it's an adjacent task. I learn in that that is going to make it far more valuable as well. So, but you're still that idea that equal to human is decades, if it all away here still so it's a shame because it causes fear mongering right about amongst people at that other end so US where are people today? We've done I think last count we try to count them twenty five thousand engagements. And so I kind of feel we've we've gone through a lot of EROs and learned a lot of lessons learned about where clients are, and I would say that a lot of clients are to stage where they have random acts of digital in a I or all over, and if those clients in the room mo- many identify with that thought in its this belief that gotta kick it live behind bitter try, and I got a million flowers blooming in their number one issue is they can't scale, and they can't necessarily prove that the same data was used in the same places into this model. You know, I'm a Bank dry. No one I made that. Decision what the model looked like in the algorithms in? So they're hitting that Rohbock. So on the other hand, I've seen clients now go from process to process, and again, they start with customer service and customer service HR than any kind of knowledge worker that needs expertise would be the next thing that I see rolling through. But here would be the lessons learned I one. I mentioned people spend eighty five percent of their time on trying to get the data. Just find data that they want us to train. So most people I there's kind of funny saying you can't have AI without a you can't have a without an information architecture. Okay. Boring as it sounds. But if you don't get this put together, this is a long road second one some of the early mistakes if you just try to put in and you don't rethink how you're gonna do your work. We learned that early on with doctors. If you try to give them a tool and say, no, you keep doing everything to add this to what you're doing. They like realize I see a patient, eight minutes. Okay. This is not going to be able to be. Avid here. So when we rethink how they do their work. That's the second thing. People had get onto was rethink how they did their work. The third thing is you gotta be able to explain the eye and can't be a blackbox bias. So we just released a tool that you could take anybody's AI and put it through that looks for biased doesn't have to be Watson can be anything. Google tensor flow, put it through in the init- can show you where it has potential bias meeting it 'cause without telling it with biases. It's looking for. Why is this always happening with these set of attributes like, so why did you always give this group and increase in this group? So it's it's and you could also tell it will for gender look for this, look, but you can also let it say, what looks like potential bias to you. You need these tools. Right. So you've got that's the third element. I've seen this is what I think is interesting particularly with your experience there, which is we've think of watt. I mean, I mean, you know, we have these moments it bursts of the consciousness. No Google wins. The game of go or Watson wins. Chest. Part of your experience Watson has been sort of accumulation of knowledge experience learning adding functionality. It's kind of a constant it is that's a CS. We when you look at what's next on these things cannot Allen. What's next? Maybe if it's okay, it's a little bit related. The idea of what is what you would have seen. We've been working on something Watson called debater. And we let it interact with everybody. I know that you might not like what it's going to tell you can it's able to do is debate and argument. Well, I think if you talked to any home device and talk to it for four minutes. What does it do back if for minutes? Okay. So what this next levels being able to teach that it can actually comprehend listen comprehend in then go search and make an argument in. So we the first day were there. There was should gambling illegal. I, you know, not legalized or not legal in in Las Vegas. We pick some interesting topics every day to in the pro and the con argument, that's one of the things next. The next one of the next other things we're working on right now, we had just announced a cooperation with Michael J, FOX foundation on Parkinson's. But we've already done the work. It's an idea that there's something called deep data coming out there. And this is one estimates that less than one percent of all the data in the world's actually collected and used less than one percents collected in us. And so what we've been working on with sensors on your fingernails that that they really can get the slightest motions in its early. The ability to predict Parkinson's because of it in the I we built to do it as well as schizophrenia. So I think these are the kinds of this idea of deep data meaning will think about it. Nobody's collecting the vibrations off at your fingernails right now. So that it's massive when you think of that amount of data, even what we're doing with the weather company. Now, we just announced new weather prediction that an hour in advance. Because we are now able to say we can get I won't teach about whether forecasting. That's a really interesting topic to be honest, but every three kilometers we can now accurately get the weather, and we're spoiled in the US of the ability the models that are in the US. There do not exist around the rest of the world they do. Now what we just did. But you could predict turbulence in our in advance. I mean, just think how many times are you on airplane? When someone says I'm gonna look for smoother air, you know, in this idea, but that has repercussions weather's number one thing that impacts every every number one Xtra factor that impacts the economy is whether and so the ability of what? That has to do with hospitals with disease with forecasting for retailers. All of what you get better. That's that's what I call deep data that when we're collecting off of an airplane every five seconds or the barometric reading off your cell phone if they can do it. We're now ingesting those with your permission. We're ingesting those that's deep data. So this idea of deep data, and we're we're heading with the, you know, things like the debater is this idea of broad data or the ability to hey, I've learned one task here. I'm going to jump over. And learn another without much more new data is where the future goes on. Jay. Thank you forget. My pleasure. Thank you. IBM's? Ginny remedy and the Wall Street Journal's editor in chief Matt Murray. The future of everything is a production of the Wall Street Journal. This episode was produced by Anthony green with help from Rebecca dough wineman and George downs. Stan perish is the editor. In chief of the future of everything. Our technical director is Jacob Gorski. Thanks for listening. I'm Jennifer strong.

US Watson IBM AI Matt Murray Wall Street Journal Parkinson Google Brexit Optimus Las Vegas editor in chief Jennifer strong Jason Jay Rohbock Stan technical director Ginny Jacob Gorski
"ceo ginni rometty" Discussed on WSJ The Future of Everything

WSJ The Future of Everything

10:52 min | 2 years ago

"ceo ginni rometty" Discussed on WSJ The Future of Everything

"Are you hiring with indeed you can post a job in minutes? Set up screener questions then zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash podcast. That's indeed dot com slash podcast. What is our decision intelligence by this? I don't mean singularity super intelligence that is way off not worth talking about. I'm talking about the use of machine learning technologies in the single domain with a large amount of training. Data reaching superhuman performance. Kaifu Lee is one of China's most influential tech figures and venture capitalists. He spoke to us about artificial intelligence at our tech conference de live in November thing about Amazon taking a lot of clicks and buys it into knowing what you will by knowing what you will buy more than, you know, yourself from search results to music playlist to digital assistance like Siri, and Alexa is more embedded in our everyday lives than ever before. But it's fine. No means universal. And it's not good at everything at least not yet. So the current state of the art is something narrow. Dr IP park is the president of L G. I spoke to him in January Kirk AI can do something extremely well in narrow area. So he can pay chest can be chess champion you can pay good game. But if you ask that Chesler game to say go for shopping for you something to do that because it's so narrowly focused the field has to sort of evolve into a general, that's where real intelligible come in as data feeds the advancement of machine learning and other AI technologies their value in business is surging as an industry. Hey, I is expected to generate trillions and additional wealth for the world over the next decade companies from TD Bank to apple have expanded their C suites to include chief AI officers tasked with understanding the benefits and biases. It can bring to a business. Now, the US is boosting spending on AI related research in what's seen is a move to counter China's growing prowess in the field from the Wall Street Journal. This is the future of everything. I'm Jennifer strong. History shows when there's Grayton technology inventions, physical infrastructure in societal infrastructure has to change. Ginny remedy is the chief executive of IBM, she says companies need to understand how AI can augment their strategies or risk being left behind. She spoke with the Wall Street Journal's editor in chief Matt Murray at the World Economic Forum in Davos, Switzerland. When you talk about when you think about what does it mean to you explain to us? What is what it isn't do people understand fully what's coming our way today? They misunderstand. How do you define help us think about it? I think if it is simply as a way to make each of us better. I think if the boils down to one thing it's about making better decisions. And in that is in fact, it's one of our values that we've really consciously stated that the purpose of these technologies is to augment man, not replace man. And I think those of us who build them have allowed to do. With that what it is. So I think that when I think of it, and that's why actually for business. We'll kind of go between why do people feel like you just described in for what I see in clients. What is everyone doing with AI because I'm actually starting to see much greater deployment now? And I can talk about what people learned and what didn't go so well, and what has gone well. But basically if you kind of think back in time would go back to areas of IT in. There was a big advantage given to processing and back all our back offices changed. Yours included all changed, then there's been this most recent era, I think everybody would talk about networking networking, neck, the platforms all came up. And now people are going to compete at expertise. And so that's this is one way to help build expertise not just in a company, but a process in anything. So that's what I think of it as client facing producer, internal expertise wells. And that's a really important point. Actually the first in stanch. Station. Most AI today is all customer service. So every client I've met with here, and those that are far ahead have gone well beyond that those beginning there, we say, what's what's the first area was everything, but he's doing, and I was telling the very first thing is customer service the sleeper area, which is a way to get a whole company to understand. Why is HR in most people are very surprised about that? Right. That that's a way. But I wanna can I just park that for a sec. So back to your point of been why most people don't even think of HR having. I little. Oh, that isn't I feel differently about my? The. I actually think most most companies would tell you they've underinvested in that area by far right in. So it can actually be an area that and it's going to be related to the topic. You said why do people feel right now? This is that's what you feel in the air here. And I think there's two reasons one is I would call it a trust headwind. And then the second reason is I said, it's job crisis. But I think I would be better to reframe it as it's a large issue of inclusivity or people feeling left behind in the future. So if I could just maybe just talk a little bit about each one of them on the trust headwind. I think that's out there. You've got people. They know all the state is there. They know there's personal data out there this concern about what is it going to be used for is it going to be replaced is it unfair advantage against me. And I feel very strongly. There's two things that have to happen on trust one is not just an IT company. Matt every company should be clear. What they're. Really clear what their principles are about this data, and then be willing to be audited in accountable to them this goes back 'cause we've been had a long time actually was it was year before I was born was some of this beginning of the work is done. It's been a very long time, but it's gone through its winters and come back out, but our principles our first one is what we're gonna do the purpose of AI in. These new technologies is dogmatic man, I said that one second one is really clear that data belongs to its owner. And it's insights belong to the owner. Third thing is it's gotta be explainable and transparent all these technologies. So kind of asking what regulation I was going to talk about you, you might be headed where I was going. But but that makes sense. But I think that when when you hear that from IBM IBM's got you Facebook has of you Microsoft as if you give us a good or bad. I mean fully was you're in one of the things he talks about as you know, in his book is that part of the Chinese advantage that he sees. Is data and China has a model, and the China model is they've got your data. They do all kinds of things with the data Europe has a different model with GDP are. And again this year. I think the feeling is your may miss out on technology because of that I'm not sure that the United States yet has a clear common, Sandra. If I'm not sure if the government needs to set one or companies need to do it together, but from company to company and interaction their action. I think that's part of the exile. We don't know how you feel. Yeah. I think it I think you're conflicting two different things that don't necessarily have to be completed one is that you must have massive amounts of AI a data to have a because the most most interesting things we are working on now. And it's more than just working on is things like one shot learning where it is not massive amounts of data. And so that is where the field is heading that it will not be just massive amounts, of example of. Oh, so it's very simple. Yes, here here's one that. We're working on right now. I'm an insurance company and. And because the biggest inhibitor of getting a I in the training. It's eighty five percent of any effort. Client does is. I'm getting the data getting it ready and not on the actual algorithms. And so I'm doing claims for roofs hail coming down on roofs. Right. I've all my pictures roofs done after Trane roof roof after roof one shot learning would be this roost been damaged by hail. I show a picture of one roof with hail on it. And now it knows what all the other kind of roofs could look like if they had hail out them. And that's a real one. We're working on with insurance company. That's one shot learning versus. I gotta retrain on. What does hey, look like on every different kind of structure that there could be and that is a that to me is a huge huge barrier removed. If you can do that, you will get widespread. A I in business because why time to value and costs will be way less to do it. So so that's why wouldn't necessarily I understand that argument. But I do think one that we do have to come together on is when you think about what you say it's easy for all of us to say are principles, by the way. Everyone has not been clear what they're. Simples are. But particularly when it comes to the consumer. I do think there needs to be very precise regulation it because my big fear. One of the things I've talked about here is if all governments are feeling pressure to do something on this in its particularly consumer privacy. And so what what is a to me common sense, but targeted regulation would be for consumer. You should be able to know what data's being collected opt out get it removed. See what you have as minimum, right and simple points. There should be liability for illegal things. Right. I think there should be in get to agreement on those things because otherwise my biggest fear is governments without understanding. All this will go too overboard in actually really really impacted digital economy. Is there a prospect of the kind of regulation talking about it in the United States right now, very hard. If it's really come together. Yeah. No. I think there is some prospect of that, right? Because in its born of people hearing all different other kind that has unintended consequences. So I just when you put those two things together about you know, is is one country ahead because it has all the data. I don't necessarily this is going to be raised about who has it necessarily just all the data. You've said one hundred percent of jobs are going to be changed dot dot very distant future. Yeah. So you're not dimissed that's queer. My when you talk about the things, I think one of the things that at least I hear there's an actual logic to some of these things start as processes, but obviously when you talk about something like extending the roof thing that does have implications. So there's going to be I assume he lot of job displacement.

AI China United States IBM Matt Murray Wall Street Journal Alexa Amazon president Kaifu Lee chess Siri Chesler Jennifer strong Trane Davos
IBM CEO Ginni Rometty on Reskilling Workers in the Age of AI

WSJ The Future of Everything

08:18 min | 2 years ago

IBM CEO Ginni Rometty on Reskilling Workers in the Age of AI

"History shows when there's Grayton technology inventions, physical infrastructure in societal infrastructure has to change. Ginny remedy is the chief executive of IBM, she says companies need to understand how AI can augment their strategies or risk being left behind. She spoke with the Wall Street Journal's editor in chief Matt Murray at the World Economic Forum in Davos, Switzerland. When you talk about when you think about what does it mean to you explain to us? What is what it isn't do people understand fully what's coming our way today? They misunderstand. How do you define help us think about it? I think if it is simply as a way to make each of us better. I think if the boils down to one thing it's about making better decisions. And in that is in fact, it's one of our values that we've really consciously stated that the purpose of these technologies is to augment man, not replace man. And I think those of us who build them have allowed to do. With that what it is. So I think that when I think of it, and that's why actually for business. We'll kind of go between why do people feel like you just described in for what I see in clients. What is everyone doing with AI because I'm actually starting to see much greater deployment now? And I can talk about what people learned and what didn't go so well, and what has gone well. But basically if you kind of think back in time would go back to areas of IT in. There was a big advantage given to processing and back all our back offices changed. Yours included all changed, then there's been this most recent era, I think everybody would talk about networking networking, neck, the platforms all came up. And now people are going to compete at expertise. And so that's this is one way to help build expertise not just in a company, but a process in anything. So that's what I think of it as client facing producer, internal expertise wells. And that's a really important point. Actually the first in stanch. Station. Most AI today is all customer service. So every client I've met with here, and those that are far ahead have gone well beyond that those beginning there, we say, what's what's the first area was everything, but he's doing, and I was telling the very first thing is customer service the sleeper area, which is a way to get a whole company to understand. Why is HR in most people are very surprised about that? Right. That that's a way. But I wanna can I just park that for a sec. So back to your point of been why most people don't even think of HR having. I little. Oh, that isn't I feel differently about my? The. I actually think most most companies would tell you they've underinvested in that area by far right in. So it can actually be an area that and it's going to be related to the topic. You said why do people feel right now? This is that's what you feel in the air here. And I think there's two reasons one is I would call it a trust headwind. And then the second reason is I said, it's job crisis. But I think I would be better to reframe it as it's a large issue of inclusivity or people feeling left behind in the future. So if I could just maybe just talk a little bit about each one of them on the trust headwind. I think that's out there. You've got people. They know all the state is there. They know there's personal data out there this concern about what is it going to be used for is it going to be replaced is it unfair advantage against me. And I feel very strongly. There's two things that have to happen on trust one is not just an IT company. Matt every company should be clear. What they're. Really clear what their principles are about this data, and then be willing to be audited in accountable to them this goes back 'cause we've been had a long time actually was it was year before I was born was some of this beginning of the work is done. It's been a very long time, but it's gone through its winters and come back out, but our principles our first one is what we're gonna do the purpose of AI in. These new technologies is dogmatic man, I said that one second one is really clear that data belongs to its owner. And it's insights belong to the owner. Third thing is it's gotta be explainable and transparent all these technologies. So kind of asking what regulation I was going to talk about you, you might be headed where I was going. But but that makes sense. But I think that when when you hear that from IBM IBM's got you Facebook has of you Microsoft as if you give us a good or bad. I mean fully was you're in one of the things he talks about as you know, in his book is that part of the Chinese advantage that he sees. Is data and China has a model, and the China model is they've got your data. They do all kinds of things with the data Europe has a different model with GDP are. And again this year. I think the feeling is your may miss out on technology because of that I'm not sure that the United States yet has a clear common, Sandra. If I'm not sure if the government needs to set one or companies need to do it together, but from company to company and interaction their action. I think that's part of the exile. We don't know how you feel. Yeah. I think it I think you're conflicting two different things that don't necessarily have to be completed one is that you must have massive amounts of AI a data to have a because the most most interesting things we are working on now. And it's more than just working on is things like one shot learning where it is not massive amounts of data. And so that is where the field is heading that it will not be just massive amounts, of example of. Oh, so it's very simple. Yes, here here's one that. We're working on right now. I'm an insurance company and. And because the biggest inhibitor of getting a I in the training. It's eighty five percent of any effort. Client does is. I'm getting the data getting it ready and not on the actual algorithms. And so I'm doing claims for roofs hail coming down on roofs. Right. I've all my pictures roofs done after Trane roof roof after roof one shot learning would be this roost been damaged by hail. I show a picture of one roof with hail on it. And now it knows what all the other kind of roofs could look like if they had hail out them. And that's a real one. We're working on with insurance company. That's one shot learning versus. I gotta retrain on. What does hey, look like on every different kind of structure that there could be and that is a that to me is a huge huge barrier removed. If you can do that, you will get widespread. A I in business because why time to value and costs will be way less to do it. So so that's why wouldn't necessarily I understand that argument. But I do think one that we do have to come together on is when you think about what you say it's easy for all of us to say are principles, by the way. Everyone has not been clear what they're. Simples are. But particularly when it comes to the consumer. I do think there needs to be very precise regulation it because my big fear. One of the things I've talked about here is if all governments are feeling pressure to do something on this in its particularly consumer privacy. And so what what is a to me common sense, but targeted regulation would be for consumer. You should be able to know what data's being collected opt out get it removed. See what you have as minimum, right and simple points. There should be liability for illegal things. Right. I think there should be in get to agreement on those things because otherwise my biggest fear is governments without understanding. All this will go too overboard in actually really really impacted digital economy. Is there a prospect of the kind of regulation talking about it in the United States right now, very hard. If it's really come together. Yeah. No. I think there is some prospect of that, right? Because in its born of people hearing all different other kind that has unintended consequences. So I just when you put those two things together about you know, is is one country ahead because it has all the data. I don't necessarily this is going to be raised about who has it necessarily just all the data. You've said one hundred percent of jobs are going to be changed dot dot very distant future. Yeah. So you're not dimissed that's queer. My when you talk about the things, I think one of the things that at least I hear there's an actual logic to some of these things start as processes, but obviously when you talk about something like extending the roof thing that does have implications. So there's going to be I assume he lot of job displacement.

AI IBM Matt Murray United States Wall Street Journal Davos Editor In Chief Switzerland Ginny China Chief Executive Trane Stanch Producer Europe Sandra Microsoft Facebook Eighty Five Percent