- The Goal of IBM and Verizon Partnership
- The Reasons Behind the Big Partnership
- Who Will Benefit From the Partnership?
Just recently, Verizon Business and IBM announced their partnership to create 5G and AI solutions for Industrial companies. They said that their goal is to make "smart factories" even smarter.
According to reports, the partnership of the tech giants will bring near real-time cognitive automation for the companies in the industrial business. How are they going to do it? We'll talk about that in this article.
In today's article, we'll talk about what you need to know about Verizon and IBM's partnership.
The Goal of IBM and Verizon Partnership
Basically, the partnership will infuse Verizon's 5G and wireless technologies with IBM's expertise in AI and advanced analytics. The result will maximise the potential of 5G, automation, and AI. The end product will make it easier for industrial companies to detect, locate, diagnose, and respond to anomalies.
To achieve the goals, Verizon and IBM are planning to put the power of edge computing into factories. Particularly, they will integrate Verizon’s 5G Ultra Wideband network, multi-access edge computing (MEC) capabilities, ThingSpace IoT platform, and Critical Asset Sensor solution (CAS) to IBM's market-leading Maximo Monitor with IBM Watson. The end product will bring edge computing, asset management, and connected operations to factories. Adding these technologies to industrial operations will help in improving factory management. Also, this allows the factory admins to predict system failures well before they occur.
Apart from that, the two tech companies will also be working together to create near real-time cognitive automation for industrial businesses. This technology will further improve the automation of machinery. Based on the joint statement of Verizon and IBM, they will create a solution that allows industrial companies to use seamless remote control robotics, near real-time cognitive video analysis, and plant automation.
Furthermore, the joint statement also indicates that Verizon and IBM will work on solutions for worker safety, predictive maintenance, product quality, and product automation.
The Reasons Behind the Big Partnership
Many technologists say that the world is at the start of a 'new age' or the Fourth Industrial Revolution. They say that this is the last push for technologies from the Digital Revolution like semiconductors, mainframe computing, personal computing, and the Internet.
In the next great industrial revolution, there will be major societal transformation. Expect automation in almost everything in the workflow, and prepare to see AI handling most business operations.
That's why many businesses now are cashing in on AI solutions. It helps them to adapt to the upcoming innovations in the business industry.
Verizon and IBM see the same thing about automation and the involvement of AI in business operations. These companies know that future factories should be self-aware, self-maintaining and self-healing. They believe that AI and wireless technologies can help in preserving equipment and improving the health and well-being of workers.
Aside from that, another reason why tech companies are working to develop AI immediately is because of natural calamities and unexpected occurrences. They can halt business operations, and this can cause a major loss for companies. Businesses can't continue their operations if the health of their workers is at risk.
Also, IBM and Verizon aim to help industrial businesses to start full-scale operations right away. They are creating solutions that allow companies to quickly adopt AI, automation, and IoT(Internet of Things). Using AI and automation will accelerate the setup process of business operations. If unexpected events happen, industrial businesses won't have a hard time resuming operations since the AI will help them.
Who Will Benefit From the Partnership?
According to Tami Erwin, CEO of Verizon business, their partnership is “all about enabling the future of the industry in the Fourth Industrial Revolution.” That means the partnership of two big tech companies might last for a long time.
So expect that both companies will gain profits from the long-term growth of the edge computing and 5G markets. Also, the start of the "Fourth Industrial Revolution" in automated smart factories can give them more business opportunities.
Moreover, statistics by Grand View Research shows that the edge computing market will grow at a large compound annual growth rate (CAGR) of 37% between 2020 and 2027. While for the 5G services market, they expect that its CAGR will grow by nearly 44% from 2021 to 2027.
Having that in mind, it's clear that both IBM and Verizon will benefit from the partnership. It's safe to say that this will be a win-win situation for the tech companies. However, the partnership between Verizon and IBM isn't exclusive. IBM also has a hybrid computing deal with AT&T, while Verizon is also working on a deal with Amazon.
Even if the partnership isn't exclusive, this can still be a good thing generally. These companies that are partnering together will help in developing 5G, edge computing, and smart factory upgrades. Soon enough, the first generation of enterprise-grade AI and production automation that will help businesses improve their productivity, minimise waste and lower the operating costs.
Final Thoughts About the IBM and Verizon Business Partnership
IBM and Verizon will work together to combine AI and wireless technology. This will maximise the potential of 5G, automation, and AI to help industrial companies improve their operation.
The partnership of these two big tech companies promises to create a solution that will help industrial businesses to detect, locate, diagnose, and respond to system issues in real-time. Also, they said that their plans to work on solutions aren't only about safety or enabling remote operations. They are also working to create solutions to boost productivity and improve business value.
That's all you need to know about the IBM and Verizon partnership. They are working together to help other businesses with their operations. But just in case you're wondering if 5G is dangerous, you can check this article.