IBM announces plans to invest $3bn in Internet of Things unit
Computing giant IBM yesterday announced it would invest $3bn (£2.02bn) over the next four years in a new Internet of Things unit.
It is aiming to sell its expertise in gathering and making sense of the surge in real-time data.
The New York-based technology company said its services will be based remotely in the cloud, and offer companies ways to make use of the new and multiplying sources of data such as building sensors, smartphones and home appliances to enhance their own products.
For its first major partnership, it said a unit of The Weather Company will move its weather data services on to IBM’s cloud, so that customers can use the data in tandem with the computer giant’s analytics tools.
IBM said it was already working with some large companies, such as German tyre maker Continental and jet engine maker Pratt & Whitney to help them use data in their processes.