IBM improved its IoT strategy, but still faces challenges from 'bottom-up' innovation
At IBM’s (NYSE: IBM) “Genius of Things” customer event and analyst event in Boston and Cambridge, Mass., respectively, the company presented a more comprehensive and nuanced Internet of Things (IoT) strategy than it has in the past. TBR believes IBM’s adaptation to the IoT market will drive revenue and profit growth from this critical segment. IBM broadened its focus beyond IoT to other ways its offerings could enhance “things,” increasing its relevance to the physical part of customer businesses, including asset management and continuous engineering. Also, IBM is no longer focusing primarily on transformative business-model-changing solutions, but also on operational efficiency, productivity, optimization and monetization. This broader approach keeps with the way in which IoT is being adopted.