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In IBM's most important product announcement since the System/360 in 1964, the IBM System/370 is introduced. Able to run System/360 programs, the System/370 is one of the first lines of computers to include "virtual memory" technology, a technique developed in England in 1962 to expand the capabilities of the computer by using space on the hard drive to accommodate the memory requirements of software.
The System/370 Model 145 is the first general-purpose business computer to use monolithic circuits in all memory and logic functions, and uses semiconductor technology rather than magnetic cores.
The concept of a relational database, first published in a paper by an IBM researcher, calls for information stored within a computer to be arranged in easy-to-interpret tables so that non-technical users can manage and access large amounts of data. Today, nearly all database structures are based upon the relational database concept.
Arthur K. Watson, vice chairman of IBM board and chairman of the board of IBM World Trade Corporation, resigns to become U.S. Ambassador to France.
Also introduced are the IBM Copier, the company's entry into the photocopy business, and a sensor-based System/7 for process, manufacturing and laboratory applications. In addition, IBM launches a low-cost System/3 Model 6, with the ability to process standard ledger cards and switch easily from business applications to complex mathematical problem solving.
IBM computers in Houston assist flight controllers in the dramatic rescue of the Apollo 13 astronauts.
IBM research scientists use electron beam to make electronic components.