SIGNIFICANT GROWTH AS AI ADOPTION RISES AND STRATEGIC FOCUS STRENGTHENED

IBM's hybrid cloud architecture has gained significant adoption among enterprises.

- Aanchal Ghatak

RANK 11 IBM INDIA

SANDIP PATEL

Managing Director

In 2022, IBM exhibited substantial growth and achieved a revenue of uS$60.5 billion, along with generating uS$9.3 billion in free cash flow. The company’s revenue growth of 12 per cent at constant currency was fueled by delivering client value, and more than 50 per cent of IBM’s total revenue now comes from its solid and growing recurring revenue base. IBM’s strategic focus areas include hybrid cloud and AI, which are driving greater productivity, faster insights, better decision-making, and improved employee and customer experiences.

INDIA REMAINS THE BRIGHT SPOT 

AI adoption is gaining momentum in India’s IT industry. Approximately 57 per cent of IT professionals in the country state that their organizations have actively implemented AI solutions in their business operations. This indicates a growing recognition of the value and potential of AI in driving efficiency, innovation, and competitive advantage. About 27 per cent of organizations in India are currently exploring the use of AI. This suggests a significant portion of companies are recognizing the transformative potential of AI but are still in the early stages of understanding and evaluating its applications in their specific business contexts.

In India, IBM reported a consolidated operating income of