IBM Launches Internet Of Things Division

IBM Corp. launched an Internet of Things division on Monday that will be anchored by its Watson cloud-computing technology and help fuel the adoption of smart-city technologies. The team will be led by Harriet Green, the former CEO of British global travel company Thomas Cook Group. She will oversee a team of more than 2,000 consultants, researchers and developers, who will help clients integrate data from a wide number of sources, including The Weather Company, mobile device chip manufacturer ARM and wireless carrier AT&T , across IoT. This includes efforts to make cities smarter, to transform automobile and electronic manufacturing and safeguard food and water supply chains. In March, IBM committed to investing $3 billion over the next four years in industry-specific cognitive computing technologies and cloud storage. Shares of IBM fell 0.9% to $146.08 in recent trade. They are down 12.5% over the last three months, underperforming the broader Dow Jones Industrial Average, which is down 8.5%.