IBM and Vodafone have partnered to launch a new venture with the intention to drive Europe's 5G, AI and cloud capabilities.
The new partnership is part of an eight-year agreement valued at $550m that will combine Vodafone's IoT, 5G and edge computing together with IBM's multi-cloud, AI and security capabilities.
"The convergence of multi-cloud and connectivity promises to speed decision-making, enhanced automation and personalize experiences for end users in any location – even some of the most remote," IBM said.
"For example, in the past, innovating on an oil rig would have been a challenge due to lack of connectivity and disparate IT systems. Today, thanks to edge computing and IoT technologies from Vodafone working with the latest AI and augmented reality applications from IBM, engineers will be able to pinpoint and resolve faults on equipment in minutes rather than hours, potentially saving millions in lost productivity," IBM added.
IBM chairperson, president and CEO, Ginni Rometty, said: "IBM has built industry-leading hybrid cloud, AI and security capabilities underpinned by deep industry expertise.
"Together, IBM and Vodafone will use the power of the hybrid cloud to securely integrate critical business applications, driving business innovation – from agriculture to next-generation retail," she added.
According to IBM, the venture will be operational in the first half of 2019.