IBM reported a significant increase in bookings for its artificial intelligence business, reaching $2 billion, as the company continues to implement advanced technology solutions. In its latest earnings report, IBM exceeded expectations in its AI, software, and infrastructure sectors during the second quarter of 2024, despite challenges faced by its consulting segment due to high inflation. The company now anticipates its software segment will grow at a high-single-digit percentage in 2024, an upgrade from previous guidance of mid-single-digit growth. Additionally, the consulting segment is now expected to grow at a low-single-digit percentage, down from an earlier forecast of 6% to 8%. Top executives emphasized the importance of the consulting segment in maintaining a competitive edge in the emerging AI market. The positive performance in AI bookings has contributed to an overall solid earnings and revenue beat, reinforcing IBM's market position in the evolving technology landscape.