Industry observers say we're about to enter the next AI Winter. Artificial Intelligence emerged more than 60 years ago, and in that timeframe we have seen many such seasons. While I don't believe the coming winter will be as severe as the others, by all accounts, it's coming. The first AI Winter happened in the 1970s, when, after more than a decade of heavy funding of academic research by the U.S. Department of Defense, the government pulled back. It became clear that advancing AI would be much more challenging and expensive than originally foreseen.

Looked at a certain way, Qualcomm's growth strategy is defining the direction of the entire wireless industry. They've been riding the wireless growth wave for decades, and more recently have expanded their focus to 5G, AI, IoT, the cloud and, perhaps most compellingly, the metaverse. Under new chief executive Cristiano Amon, the company's metaverse strategy, if played right, could translate to an even stronger growth opportunity moving forward for Qualcomm (QCOM) and its investors. It's another chance for Qualcomm to work with companies in other industries -- including healthcare, automotive, retail and more -- that are looking to transform their business models to remain competitive. The big news in this regard is the company's signing of an extended partnership with Facebook parent Meta (META).

The wireless industry has been one of the fastest growing spaces for several decades. That does not mean, however, that it is always on fire. Every growth wave has ebbs and flows. It all depends on the period of time in which you are focused. The good news is the wireless industry has entered the next growth wave with 5G, AI, IoT, AR, VR, cloud and more.

Every time a company changes its CEO, many changes always follow. Some of those changes are positive. I expect this to happen at IBM as Ginni Rometty steps down and Arvind Krishna steps up as CEO. Let's take a look at the challenges he faces and what we can expect as investors, customers and workers. I have been following IBM for quite a long time.

The moment IBM Watson played Jeopardy on TV almost a decade ago was the time AI burst onto the scene. It was a breakthrough marketing moment. Over the last decade, IBM Watson has remained the go-to player in Artificial Intelligence as the industry grows. Every year IBM holds their Think conference where they pull together thought leaders from companies, governments, think tanks and soon. This has become the AI super-show.

You've got to love the idea of IBM Watson. The super-computer using advanced AI to learn everything, faster and better than any human being could ever hope to do. The hope is it would help us solve some of our most pressing problems. One of IBM's (IBM) high-profile challenges was their desire to cure cancer. Unfortunately, it has not happened.

As a a middle aged American male, I thought I knew it all. I thought that I was an expert in everything. Then artificial intelligence came along and screwed everything up. All of a sudden, I am seeing AI shadows behind every curtain. The truth is, AI will be behind every corner.

The AI revolution has begun. Artificial intelligence will begin to completely transform every industry and every company within the next few years. And if we dig deeper, we can see that within each company there are many areas this will impact. AI will transform the way business does business. This is both an incredible opportunity and a huge risk.

It makes tomorrow different than yesterday. Technologies like IoT, AI, Cognitive, Cloud, Smart City, Connected Home, Mobile Pay, FinTech and more are all changing our world. Yesterday, they were a dream. Together, they are more powerful than you can imagine. In coming years, they will transform our world.

Last week I attended IBM (IBM) World of Watson as both a speaker and an attendee, and today as I sit in my neighborhood Starbucks (SBUX) thinking about everything, all I can say is WOW! This was one of the most interesting, inspiring and amazing events I have ever attended. And we are still in the very early stages of Watson, Cognitive and AI. I invite you to follow me as I learn more and write more about the wonderful world of Watson, all the companies that work with it and how it will change our industries, our businesses and our lives. As a wireless analyst and columnist, I come at this world of Watson from the wireless, telecom, internet and television angle.