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IBM pulled this recently to bury disappointing financial results.

When will IBM finally give up the ghost? Do they add any sort of real value for customers anymore? Their cloud products are awful (I've used them), and I've only heard bad things about their consulting (and that's been the story for ages).

The last good thing about IBM that I remember is the Thinkpad, but Lenovo's made them for longer than IBM did at this point.

Well GPT 3 has been a thing for years (and performed about as well as 3.5-turbo), surely someone's done some studies in that time?

Where do I invest?

I don't think it really classes as woo-woo - replacing live chat operatives with an LLM is a pretty straight forward and obvious use case.

Besides, the full 55k are about all automation, restructuring and digitisation efforts. Doesn't sound entirely unreasonable.

They probably are also looking to justify investment and say that they are investing into making the business more profitable for the next 7 years, so don't expect too much profit until after this investment is done.