IBM's "Smarter Storage" initiative aims to make storage infrastructure more intelligent through three pillars: efficient by design to manage costs and capacity growth, self-optimizing for improved performance and productivity, and cloud agile to use storage effectively in cloud models. The document discusses each pillar in detail, emphasizing that Smarter Storage takes a data-centric rather than media-centric view and blurs the lines between storage and data management to provide a range of smarter storage services.