1、Lets Create2023 Annual ReportArvind KrishnaChairman and Chief Executive OfficerDear IBM Investor:In 2023,we made significant progress in our journey to become a more innovative and focused company,built around the two most transformational technologies of our time:hybrid cloud and AI.We executed aga

2、inst a proven strategy,refined our portfolio,expanded our ecosystem of partners,and enhanced productivity throughout IBM.We also continued to address the evolving needs of our clients.As AI becomes a top priority,our clients are using watsonx IBMs flagship AI and data platform to help revolutionize

3、customer service,modernize countless lines of code,and automate enterprise tasks to boost employee productivity.I have never been more confident in IBMs direction.Todays IBM is more capable and more productive.We have a strong portfolio and a solid foundation to support sustainable growth.And we are

4、 delivering on our promise to be the catalyst that makes the world work better.2023 performanceFor the year,IBM generated$61.9 billion in revenue,up 3%at constant currency,and$11.2 billion of free cash flow,up$1.9 billion year-over-year.We experienced growing demand for our new watsonx platform,mark

5、ed by thousands of client interactions.This demand contributed to roughly doubling the book of business for watsonx and generative AI from the third to the fourth quarter.IBM 2023 Annual Report1InfrastructureConsultingSoftwareWe also expanded profit margins by emphasizing high-value offerings in Con

6、sulting and Software and by digitally transforming our processes and scaling AI to enhance productivity within IBM.Software revenues were up more than 5%at constant currency,as clients turned to our advanced software capabilities across hybrid cloud,data&AI,automation,transactions processing,and sec