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(Reuters) -IBM forecast full-year revenue growth above market estimates on Wednesday, banking on stable demand for its IT software and consultancy services from businesses looking to adopt artificial intelligence (AI). The company will also lay off some employees in 2024 but will hire for more AI-centered roles, an IBM spokesperson said, and will likely end the year with a largely unchanged headcount. Under CEO Arvind Krishna, the more than 111-years-old company has repositioned itself to focus on software and consulting with a renewed focus on AI, capitalizing on a broader push for its integration across industries.

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