International Business Machines Corporation IBM recently rolled out free tools, based on legitimate information, which will help people in the United States track the spread of the coronavirus pandemic and help them stay informed.
The new offerings include an online dashboard, run on IBM’s public cloud, which analyses data from WHO and several national, state and local governments leveraging IBM Watson. Data will also be available through IBM’s Weather Channel app, weather.com.
Moreover, the dashboard, developed on IBM Cognos Analytics platform, has been built to help researchers and media companies to better analyze regional data and evaluate the spread of the pandemic.
Furthermore, the company has also partnered with the U.S. government to enable access to high-performance computing, which is expected to accelerate the process of coronavirus-related research.
Markedly, the coronavirus crisis is set to revolutionize healthcare sector. Digital healthcare is becoming the need of the hour. Assessment and monitoring of patients remotely, and use of AI-driven trackers, are expected to gain momentum in the days ahead.
In this backdrop, IBM’s efforts to combat the COVID-19 outbreak are expected to generate goodwill around its brand and boost investor confidence.
International Business Machines Corporation Price and Consensus
International Business Machines Corporation price-consensus-chart | International Business Machines Corporation Quote
Major Tech Giants Roll Out COVID-19 Trackers
IBM just became the latest tech-giant to release its own coronavirus tracker in an effort to curb the spread of the global pandemic.
Microsoft MSFT Bing recently launched an interactive map that provides information on the spread of the coronavirus. The map contains details about the number of cases per country, divided into number of currently active cases, recovered cases, and fatal cases. United States citizens can view state-by-state information.
Also, the iPhone-maker, Apple AAPL has rolled out a separate section for its Apple News app that covers coronavirus related news stories and articles from verified publishers. The section will help readers stay updated and is expected to prevent the spread of misinformation regarding the outbreak.
Moreover, volunteers from major tech companies like Alphabet GOOGL, Apple, CloudFlare, and MongoDB recently collaborated to create their own free-to-use website to track the spread of COVID-19 in the United States.
We believe IBM and other tech giants are well poised to capitalize on the emerging demands for digital overhaul of healthcare industry, triggered by the ongoing coronavirus crisis.
Digital Transformation to Sustain Growth
Despite the coronavirus-related disruption and uncertainty in the market, IBM is expected to benefit from the rapid digital transformation taking place worldwide.
As companies shift away from legacy systems to scalable, enterprise-tuned platforms, there is immense scope for growth for software solution providers like IBM, as it is likely to boost the adoption of its analytics, cloud computing and security solutions across all industries.
Moreover, enhanced containerized software capabilities from the acquisition of RedHat have strengthened its position in the hybrid cloud market, which is expected to be a tailwind in the long run.
However, stiff competition in the cloud computing market from the likes of Amazon Web Services (AWS) and Microsoft Azure is expected to dampen growth. Moreover, anticipated decline in IT spending, owing to coronavirus crisis, is a headwind.
IBM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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