IBM is reportedly investing $3 billion over the next four years to build out a new ‘Internet of Things’ unit.
In its Internet of Things project, the company envisions an interconnected world of devices, whose performance is optimized by the supply of real-time data. Recently, the company published a paper detailing joint research with Samsung into the application of Bitcoin, Ethereum and other decentralized technologies for the project.
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The tech giant has been gradually shifting focus from hardware and consulting services to cloud, big data and security services.
In this project, IBM’s services would be based entirely out of the cloud. In its first major partnership, a unit of the Weather Company is moving its weather data services to the cloud. From there, it would work with IBM’s real-time analytics tools to provide valuable insights to companies for whom such data is relevant. For example, a retailer can gauge the impacts of weather on shopper turnout and supply chain metrics. Insurance companies can send real-time weather warnings for drivers to exercise caution, helping all parties reduce costs.
The company also said it is working with German tire maker Continental AG and jet engine maker Pratt & Whitney on how such data can optimize their processes.