Latest news with #watsonxAILabs
Business Insider
4 days ago
- Business
- Business Insider
IBM Announces New Innovation Center and Acquires Seek AI
Tech company IBM (IBM) recently announced a new AI innovation center in Manhattan called watsonx AI Labs, which is designed to help developers build and scale real-world AI solutions for businesses. This lab connects IBM's technical knowledge and resources with startups, established companies, and AI builders in order to create advanced AI tools. Located at IBM's One Madison office, the lab will focus on collaborative work by bringing together researchers, engineers, and partners to solve complex problems using AI. Confident Investing Starts Here: Interestingly, New York City was chosen because it's already a major hub for AI innovation, with over 2,000 AI startups and a growing AI workforce. IBM also announced the acquisition of Seek AI, which is a local startup that develops AI agents in order to help businesses use their data more effectively. IBM will use Seek AI's technology and expertise as part of the watsonx AI Labs. In addition, over the next five years, IBM plans to give successful local AI startups access to expert advice and mentorship, as well as potential funding from IBM's global $500 million Enterprise AI Venture Fund. The lab will work on developing practical AI tools for areas like customer service, cybersecurity, and supply chain management, while promoting responsible AI use. What Is the Target Price for IBM? Turning to Wall Street, analysts have a Moderate Buy consensus rating on IBM stock based on eight Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average IBM price target of $260.62 per share implies that shares are trading near fair value.
Yahoo
6 days ago
- Business
- Yahoo
IBM Unveils watsonx AI Labs: The Ultimate Accelerator for AI Builders, Startups and Enterprises in New York City
New AI initiative will co-create gen AI solutions with IBM clients, nurture NYC talent, advance enterprise AI implementations NEW YORK, June 2, 2025 /PRNewswire/ -- IBM (NYSE: IBM) today announced watsonx AI Labs, a new, developer-first innovation hub in New York City, designed to supercharge AI builders and accelerate AI adoption at scale. watsonx AI Labs connects IBM's enterprise resources and expertise with the next generation of AI developers in order to build breakthrough AI applications for business. Located in the heart of Manhattan at IBM's new offices at One Madison, watsonx AI Labs extends IBM's global network of engineering labs, bringing together IBM researchers and engineers in a collaborative hub dedicated to co-creating and advancing meaningful, agentic AI solutions. The lab will work side-by-side with startups, scale-ups, and the world's largest enterprises to help clients unlock real-world value from their AI. The lab benefits from – and helps fuel – New York City's status as a global AI hub. New York City has more than 2,000 AI startups, and its AI workforce grew by nearly 25% from 2022 to 2023, according to Tech:NYC. Since 2019, more than 1,000 AI-related companies in New York City have raised $27 billion in funding. Also today, continuing its commitment to the local startup ecosystem, IBM announced it will acquire expertise and license technology from Seek AI, the New York City-based startup building AI agents to harness enterprise data. Seek AI helps businesses leverage agentic AI to mine value from enterprise data, and their expertise will serve as a foundational part of watsonx AI Labs. "This isn't your typical corporate lab. watsonx AI Labs is where the best AI developers gain access to world-class engineers and resources and build new businesses and applications that will reshape AI for the enterprise," said Ritika Gunnar, General Manager, Data & AI, IBM. "By anchoring this mission in New York City, we are investing in a diverse, world‑class talent pool and a vibrant community whose innovations have long shaped the tech landscape." "IBM's launch of watsonx AI Labs signals a transformative investment in New York's innovation ecosystem. By bringing together world-class engineering talent, emerging startups, and deep enterprise expertise right here in the heart of the city, this initiative strengthens New York's position as a global hub for responsible and cutting-edge AI development," said Julie Samuels, President and CEO of Tech:NYC. "It's a win for our tech sector, communities, workforce, and economy. We're thrilled to see IBM betting big on the extraordinary talent and entrepreneurial spirit that make this city so unique." The lab seeks to tap into New York City's rich technology landscape by attracting local talent, pursuing collaborations with local universities and research institutions, and supporting local entrepreneurs. Consistent with IBM's long-standing investment in New York State, over the next five years, local startups that successfully launch AI enterprise solutions at the lab will have access to technical experts, mentorship and amplification, as well as potential investment from IBM Ventures and its global $500M Enterprise AI Venture Fund. "Building a foundational part of watsonx AI Labs allows us to pair our expertise building data agents with IBM's engineering depth to solve clients' toughest AI challenges," said Sarah Nagy, CEO of Seek AI. "We're excited to tackle these challenges here in New York City, where Seek AI was founded and the AI talent and innovation ecosystem is thriving." watsonx AI Labs will focus on co-creation of domain‑specific AI solutions to solve enterprises' most complex challenges – from customer service and supply‑chain optimization to cybersecurity, responsible AI governance, and open-source AI. To learn more about participating in the watsonx AI Labs, visit About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs, and gain a competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity, and service. Visit for more information. Media contact: Kevin ZawackiIBM Software View original content to download multimedia: SOURCE IBM Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
