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IBM’s CEO, (who froze hiring for thousands of back-office jobs after predicting A.I. would take up to 50% of new jobs); just invested $235 million into Huggingface (an open-source AI company).
IBM has a bad track record of predicting the future movements of technology, do we think they are right on this one?
For context here is some of IBM’s track record
- IBM was slow to enter the personal computer market.
- IBM’s OS/2, launched in the late 1980s as a competitor to Microsoft’s Windows
- IBM sold its profitable ThinkPad laptop division to Lenovo in 2005, underestimating the staying power and future profitability of hardware.
- IBM paid GlobalFoundries to take its chip manufacturing operations off its hands in 2014.