International Business Machines Corporation (IBM) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 11:30 AM EST
Company Participants
Robert Thomas – Senior VP of IBM Software & Chief Commercial Officer
Conference Call Participants
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Erik Woodring – Morgan Stanley, Research Division
Presentation
Erik Woodring Morgan Stanley, Research Division
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Well, let’s get started, guys. Thank you very much for joining us. Welcome to day 2 of the flagship TMT Conference. My name is Erik Woodring. I lead the U.S. IT hardware coverage here. I am delighted to be joined by Rob Thomas, IBM’s Head of Software and Chief Commercial Officer. But before we get started, I just need to read this disclosure statement. I need to mention that important disclosures can be found at the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative.
So Rob, thank you very much for joining us today.
Robert Thomas Senior VP of IBM Software & Chief Commercial Officer
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Thanks for having me. Great to be with you.
Question-and-Answer Session
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Erik Woodring Morgan Stanley, Research Division
So I think the best place to start maybe is just better understand how to think about the key drivers of growth for IBM. So exiting 2025, 3 of your 4 software subsegments were growing double digits. Mainframe had a record year, helping to offset maybe more tepid growth in services. So taking a step back as we think over kind of the medium term and beyond, what are the key growth drivers as we think about the IBM model? And let’s start from there.
Robert Thomas Senior VP of IBM Software & Chief Commercial Officer
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So maybe go back to 2020 when Arvind Krishna took over. He had the insight that we can be uniquely
Demand for artificial intelligence education has surged in 2026 as industries from healthcare to autonomous vehicles seek talent skilled in machine learning, robotics, ethics and large language models. Leading global rankings from QS, Times Higher Education and specialized sources highlight institutions excelling in AI-related computer science, data science and dedicated AI programs.
Top 50 Best Universities for AI Studies 2026: Global Rankings Guide Students Worldwide
The QS World University Rankings by Subject 2026 for Data Science and Artificial Intelligence place Massachusetts Institute of Technology at the top with a near-perfect score, followed closely by Stanford University and National University of Singapore. Carnegie Mellon University, long a pioneer in robotics and AI, consistently ranks among the elite across multiple lists. Times Higher Education’s 2026 Computer Science rankings, which heavily weigh AI and machine learning components, crown University of Oxford as the global leader, with strong showings from Cambridge, ETH Zurich and U.S. powerhouses.
A composite ranking of the 50 best universities for studying AI in 2026 draws from QS Data Science & AI, QS Computer Science, THE Computer Science, US News graduate AI programs and research output metrics. These institutions offer undergraduate, master’s and doctoral pathways emphasizing hands-on research, industry partnerships and ethical AI development. Many provide specialized degrees such as Master of Science in Artificial Intelligence or dedicated tracks within computer science.
Here is the list of the top 50 universities for AI studies in 2026, ranked by overall strength in research output, faculty expertise, industry connections and program reputation:
Massachusetts Institute of Technology (MIT), United States — Renowned for its Computer Science and Artificial Intelligence Laboratory (CSAIL), MIT offers cutting-edge programs in machine learning, robotics and AI ethics. Students benefit from close ties to industry leaders and groundbreaking research.
Stanford University, United States — Located in Silicon Valley, Stanford’s AI Lab and interdisciplinary initiatives provide unmatched access to tech giants. Programs emphasize real-world applications and entrepreneurship.
Carnegie Mellon University, United States — A historic leader in AI with the School of Computer Science and dedicated Robotics Institute. CMU excels in autonomous systems, human-AI interaction and machine learning theory.
University of Oxford, United Kingdom — Tops THE Computer Science rankings with strong AI research across departments. Oxford’s programs blend technical depth with philosophical and ethical considerations.
National University of Singapore (NUS), Singapore — Asia’s top AI hub, offering robust data science and AI curricula with strong government and industry funding.
Nanyang Technological University (NTU), Singapore — Excels in AI research output and practical applications, with excellent facilities and international collaborations.
University of Cambridge, United Kingdom — Features world-class AI research and interdisciplinary centers, attracting top global talent.
ETH Zurich, Switzerland — Known for rigorous technical programs and innovation in machine learning and robotics.
University of California, Berkeley, United States — Home to the Berkeley AI Research Lab (BAIR), with strengths in deep learning and societal impact studies.
Tsinghua University, China — Leads in AI research volume and engineering applications, with close industry links to companies like Baidu and Huawei.
Harvard University, United States — Offers interdisciplinary AI programs through its John A. Paulson School of Engineering and Applied Sciences.
University College London (UCL), United Kingdom — Strong in machine learning and AI for healthcare and urban systems.
Imperial College London, United Kingdom — Focuses on AI-driven engineering and data science innovation.
University of Toronto, Canada — Home to the Vector Institute, a major AI research powerhouse.
Georgia Institute of Technology, United States — Renowned for its AI and machine learning master’s programs and robotics research.
University of Washington, United States — Features the Allen School with significant AI and NLP contributions.
Technical University of Munich, Germany — Strong European leader in AI engineering and autonomous systems.
University of Illinois Urbana-Champaign, United States — Excellent computer science department with AI specializations.
Princeton University, United States — Combines theoretical computer science with applied AI research.
Cornell University, United States — Offers robust AI programs with emphasis on human-centered design.
University of Edinburgh, United Kingdom — Scotland’s AI capital with the Informatics Forum driving innovation.
Peking University, China — Rising fast in AI research and talent development.
Shanghai Jiao Tong University, China — Strong engineering and AI research output.
University of Michigan, United States — Multidisciplinary AI initiatives across engineering and information schools.
New York University, United States — Center for Data Science and AI ethics programs stand out.
University of Texas at Austin, United States — Growing AI research hub with strong industry partnerships.
École Polytechnique Fédérale de Lausanne (EPFL), Switzerland — Excellent technical AI and robotics programs.
University of Amsterdam, Netherlands — Leading European center for AI and computational science.
Delft University of Technology, Netherlands — Focuses on AI for engineering and sustainability.
University of British Columbia, Canada — Strong AI research in computer science and health applications.
Zhejiang University, China — Major player in AI and data science with large research funding.
University of Science and Technology of China, China — Excels in foundational AI and quantum-related computing.
Sorbonne University, France — Strong in AI theory and applications.
University of Melbourne, Australia — Leading Oceania institution for AI and data science.
Monash University, Australia — Growing strengths in AI ethics and applications.
Korea Advanced Institute of Science and Technology (KAIST), South Korea — Top Asian tech university with robust AI programs.
Seoul National University, South Korea — Significant AI research contributions.
University of Sydney, Australia — Offers comprehensive AI and machine learning degrees.
RWTH Aachen University, Germany — Engineering-focused AI excellence.
KTH Royal Institute of Technology, Sweden — Strong Nordic leader in AI and robotics.
University of Waterloo, Canada — Known for co-op programs and AI innovation.
McGill University, Canada — Interdisciplinary AI research hub.
University of Copenhagen, Denmark — Rising in European AI rankings.
Ludwig Maximilian University of Munich, Germany — Solid AI and data science offerings.
University of Tokyo, Japan — Japan’s premier institution for AI and robotics.
Kyoto University, Japan — Strong theoretical and applied AI research.
Indian Institute of Technology Bombay, India — Leading Indian tech institute with growing AI focus.
National Taiwan University, Taiwan — Strong engineering and AI programs.
University of Hong Kong, Hong Kong — Asia’s international AI education leader.
Mohamed bin Zayed University of Artificial Intelligence, United Arab Emirates — Specialized AI university with dedicated focus and strong research output.
These rankings reflect a blend of academic reputation, research citations, employer feedback and program innovation as reported in 2025-2026 data. U.S. institutions continue to dominate due to funding, industry proximity and historical leadership, but Asian and European universities are closing the gap rapidly through targeted investments and talent attraction.
Prospective students should consider factors beyond rankings, including specific faculty expertise, research opportunities, internship access, cost of living and visa policies. Many top programs offer scholarships for international applicants in AI fields.
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With AI projected to add trillions to the global economy, graduates from these institutions command high starting salaries and career prospects. Universities on this list often partner with companies such as Google, OpenAI, NVIDIA, Microsoft and DeepMind, providing pathways to cutting-edge roles.
For undergraduate applicants, strong mathematics, programming and statistics backgrounds are essential. Master’s and PhD programs typically require relevant bachelor’s degrees, research experience and competitive GRE or equivalent scores in some cases.
The rapid evolution of AI means curricula at these schools emphasize lifelong learning, ethical considerations and interdisciplinary skills. Programs increasingly incorporate responsible AI, bias mitigation and societal impact alongside technical training.
International students should verify English proficiency requirements (TOEFL/IELTS) and explore funding options early. Application deadlines for fall 2027 intake typically fall between December 2026 and March 2027 for competitive programs.
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As AI reshapes industries, the institutions listed offer pathways to shape that future. Students are advised to visit university websites, attend virtual open houses and connect with current students for the latest program details.
The 2026 landscape shows a healthy global distribution, with strong representation from North America, Europe and Asia, ensuring diverse perspectives in AI development.
TOKYO, – Oil prices climbed on Monday on continuing fears of supply losses because of shipping disruptions in the key Middle East producing region from the U.S.-Israeli war with Iran.
On Thursday, the last trading day before the Good Friday holiday break, WTI settled up more than 11% and Brent soared nearly 8% in volatile trading, recording their biggest absolute price increase since 2020, as U.S. President Donald Trump promised to continue attacks on Iran.
The Strait of Hormuz, which carries oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait and the United Arab Emirates, remains largely closed by Iranian attacks on shipping after the war began on February 28.
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Because of the Middle East supply disruptions, refiners are seeking alternative sources for crude, particularly for physical cargoes in the U.S. and the UK North Sea.
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“Global buyers are bidding aggressively for (U.S.) Gulf Coast barrels and Brent is rallying even faster,” the Schork Group said in a client note on Monday. On Sunday, Trump ratcheted up pressure on Tehran, threatening in an expletive-laden Easter Sunday social media post to target Iran’s power plants and bridges on Tuesday if the strategic Strait of Hormuz is not reopened. Still, some vessels, including an Omani-operated tanker, a French-owned container ship and a Japanese-owned gas carrier, crossed the Strait of Hormuz since Thursday, shipping data showed, reflecting Iran’s policy to allow passage for vessels from countries it deems friendly.
The war threatens to linger on as Iran has officially told mediators it is not prepared to meet with U.S. officials in the Pakistani capital Islamabad in coming days and efforts to produce a ceasefire have reached a dead end, the Wall Street Journal reported on Friday.
On Sunday, OPEC+, consisting of some members of the Organization of the Petroleum Exporting Countries and allies such as Russia, agreed to a modest rise of 206,000 barrels per day for May.
However, that decision will largely exist on paper as several of the group’s key producers are unable to raise output due to the war.
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Russian supply has been disrupted recently by Ukrainian drone attacks on its Baltic Sea export terminal. Media reports on Sunday said its Ust-Luga terminal resumed loadings on Saturday after days of disruptions.
Trump wrote: “Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell – JUST WATCH! Praise be to Allah. President DONALD J. TRUMP”.
More pain awaits Indian banks stocks — the biggest component of the country’s stock market — as the central bank’s moves in the currency market and growth shock to the economy from rising energy prices dent profit outlook.
The Reserve Bank of India’s defense of a record-low rupee has constrained its ability to inject liquidity, tightening financial conditions that are likely to weigh on banks over the coming quarters. A prolonged conflict in the Middle East also risks derailing India’s nascent credit recovery, threatening loan growth as the broader economy cools.
Global investors withdrew a record 327 billion rupees ($3.5 billion) from shares of financial services companies in the first fortnight of March, according to National Securities Depository Ltd. data. The Nifty Bank Index has lost $95 billion in market value since the start of March, narrowly avoiding a bear market — defined as a 20% drop from a recent high.
“There could be further pressure on these stocks in the short-to-medium term as monetary policy can remain tight,” Kranthi Bathini, an equity strategist at WealthMills Securities, said, adding that valuations are becoming attractive after the correction.
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Agencies
At stake is the outlook for India’s $4.5 trillion stock market, given banks account for nearly a third of the benchmark index. A sustained weakness in shares of lenders could undermine a broader market that is already among the worst performers in the region, down 13% for the year.
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Bulls point to improving valuation multiples for bank stocks and India’s long-term economic growth, which remains among the fastest globally. The Nifty Bank Index trades at 1.5 times one-year forward price-to-book, its cheapest level since 2020, signaling an attractive risk-reward profile. Citibank Inc. is already prioritizing private-sector banks over state-run lenders, betting that the former can better absorb the macroeconomic stress that is now the prime concern for investors.Still, Jefferies estimates banks could face as much as 50 billion rupees from unwinding their currency trades due to diktats of the central bank. Fitch Ratings sees net interest margins of lenders shrinking 20-30 basis points in the year ending March 2027 — potentially undershooting the credit rating agency’s 3.1% forecast — as tighter financial conditions weigh.
“Banks will definitely take some hit on their investment book,” said Rajat Agarwal, an Asia strategist at Societe Generale SA. “We recently saw a pickup in credit growth — what remains to be seen is how much of that gets pushed back” by the war, he said.
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