International Business Machines Corp at Mizuho Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : So why don't we start maybe from your vantage point at IBM, and perhaps given the front seat that you have to a lot of dialogue, both with clients as well as in the political circles, where do you think we are in the economic cycle and what do you think the implications or potential implications of either a new administration or continuing administration on the economy?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : I love the optimism. And I like -- really do like the fact that there's a lot of discussion about the bifurcated economy. So it's great kind of doing the tour around the world. Given the fact that 50% of the our population is going to the polls, if we just center on the US economy for a second, how do you envision either a Biden or Trump administration impacting the macro -- or I would say, the economy?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : So just to kind of stay on one more topic as it relates to the broader, I would say, more regulation. Technology, as you talked about, particularly given the demographic issue, is going to be more -- continue to be core to how we work, live, socialize, engage, and what have you. But at the same time, despite tech really being foundational to all that we do, is at the cross here of both our politicians, regulators, and to some extent, perhaps some of the population that is being disrupted by it. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 12, 2024 / NTS, IBM.N - International Business Machines Corp at Mizuho Technology Conference IBM is a company that has been acquisitive. Can you just share with us some of your thoughts around the political dynamics and the regulatory environment as it relates to tech's abil -- technology, not tech -- technology's ability to continue to partake in M&A deal-making?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : So relatedly, you talked a lot about partnerships and then ecosystem to both that that are essential for AI as well as a hybrid cloud growth. Can you share a little bit how your partner ecosystem remains kind of a core part of that? And also, how your core strengths, both across for software, consulting services give you a unique advantage as you look toward positioning yourself in the market?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : Kind of goes to your and, not or.

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : So I'm watchful of time. There's one topic that I wanted to hit before we open it up to the audience, and that's quantum. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. JUNE 12, 2024 / NTS, IBM.N - International Business Machines Corp at Mizuho Technology Conference And many of the audience heard about it, not sure exactly what that means, But maybe talk through what's IBM doing in that field. And what are some of the things that quantum will enable us to do that is not practical to do today?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : Fantastic. So I think that there are mic runners and want to see if there are any questions to Arvind in the audience. Otherwise, Rich and I have probably 30 other questions. Any questions? Anyone? All right.

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : Okay.

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : So Arvind, you started the conversation by saying that you are an optimist or you're optimistic. What are some of the things that are keeping you up at night or some potential headwinds that we should be watchful as investors?

Question: Michal Katz - Mizuho Securities USA LLC - Analyst : Well, thank you for the insights, for the optimism, and for a really thought balanced way of the market having a way to regulate itself and the view that it still is an efficient market. So, greatly appreciate your time and thank you for joining us today.