According to Bernstein analysts, IBM (NYSE:IBM) is the leading US IT hardware company in terms of leveraging AI technology. They believe that generative AI has a "neutral to potentially positive" impact on IT hardware companies.

The analysts assert that this emerging technology will greatly enhance productivity. They suggest that consultants could be among the initial beneficiaries, as enterprises are likely to seek assistance on their AI journeys, similar to digital transformation.

Within Bernstein's research coverage, the analysts specifically highlighted IBM as the company "best positioned to take advantage of AI." They attribute this advantage to IBM's established account control, its extensive history and brand recognition with AI through Watson, its RedHat platform, and its substantial consulting business.

However, they emphasized that execution is crucial. they point out that IBM has faced challenges in commercializing Watson thus far, and despite being a pioneer in developing a cloud offering, it struggled to capitalize on it, falling nearly a decade behind AWS and Azure.