IBM said Friday it will sell the core data assets of its Watson Health division to a San Francisco-based private equity firm, marking the staggering collapse of its ambitious artificial intelligence effort that failed to live up to its promises to transform everything from drug discovery to cancer care.
Data and analytics assets held by the health business, which was not profitable, were sold to Francisco Partners as IBM seeks to refocus its business on cloud computing and AI services to help clients in multiple industries build machine learning tools and secure and manage their data. Terms of the transaction were not disclosed.
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