Engineers recently laid off from IBM Watson Health, the division rooted in artificial intelligence, say the company's mission to make AI profitable is failing, according to IEEE Spectrum. IBM cut dozens of Watson Health employees--primarily from its three acquired companies Phytel, Explorys and Truven--at the end of May. The company is severely disorganized, which led to redundancies and internal competition, the former employees said. Now they are speaking out about IBM's issues with its AI. They allege the problems at Phytel stem from IBM's inability to make Watson profitable.
A track record of prior competency that is above and beyond the norm is what hiring managers look for when they recruit "top talent", as recruiters like to say. Usually "top talents" can command a premium in the market place because everybody wants to employ them. We can equate these "top talents" to top quality stocks. You often hear dividend investors talk about how top dividend growth stocks are "always too expensive". That comment usually refers to the yield for the stock being lower than average, which in the case of a quality stock just represents a greater anticipation of future growth.
IBM on Thursday said it's extending its partnership with the US Department of Veterans Affairs to apply artificial intelligence to cancer treatments for veterans. The VA and IBM Watson Health first partnered to help cancer patients in 2016, as part of then-Vice President Joe Biden's cancer moonshot initiative. The partnership uses the Watson cognitive computing platform to help the VA's precision oncology department deliver individualized treatment plans. So far, the VA has used IBM Watson to help more than 2,700 veterans with cancer. To prepare an individualized treatment plan, teams of scientists and clinicians must sequence a patient's DNA to pinpoint the likely cancer-causing mutations and determine what treatments would target those specific mutations.
Cancer is responsible for one in six deaths around the world, and each year there are more than 14 million new cancer cases worldwide, according to the World Health Organization. As healthcare providers seek to enable data-driven, evidence-based cancer care, an explosion of medical information has created both challenges and opportunities to help improve quality of care.
The idea that cognitive technology can transform the healthcare system in radical ways holds a special place in Matthew Howard's head. The UK Lead at IBM Watson Health has no doubts: "I consider it to be the most important development in healthcare analytics globally." And, using cognitive applications such IBM Watson to help augment the ability of the clinical scientific community, he says, is critical for meeting future life science demands. In fact, healthcare is a key strategic imperative to IBM. If you just look at some of the quotes by the company, they say very openly that Watson Health is their moon shot.