IBM's artificial intelligence beat two contestants out of $1 million. Big Blue is once again selling the healthcare portion of the much-hyped algorithm.
In fact, it is not the first time that IBM has tried to unload the project, in another sign that corporate expectations for artificial intelligence are crashing into reality.
IBM CEO Arvind Krishna said in an interview last year that health care will always be more subtle and regulated for the right reasons. That is natural to me. It is a decision that can have a significant impact on someone's life or death. You have to be more careful. Maybe we were too optimistic in health care.
Millions of patients and entire government healthcare strategies would be affected by the sale.
IBM spent more than $4 billion acquiring multiple healthcare companies to build up IBM Watson Health. It is comfortable with a loss of billions now that it is asking for $1 billion.
IBM asked Bank of America to help find a buyer, but both companies declined the request. Several private equity and a strategic buyer may have put in bids that were due yesterday.
Whoever buys the company will inherit a lot of responsibility. Unless the right buyer comes along, there could be a lot at stake.
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