QCI Qatalyst Selected by BMW Group and Amazon Web Services as a Finalist in the Quantum Computing Challenge
November 09 2021 - 8:31AM
Quantum Computing Inc. (Nasdaq: QUBT), a leader in bridging the
power of classical and quantum computing, announced that its
Qatalyst ready-to-run quantum software was selected as one of three
finalists for the second and final round of the BMW Group and
Amazon Web Services (AWS) Quantum Computing Challenge for the
Vehicle Sensor Placement use case.
The Quantum Computing Challenge invited the quantum community to
apply innovations in quantum computing to real world problems in
industrial applications. The use case problems presented in the
challenge represent critical commercial applications that
demonstrate the real-world value of quantum computing.
BMW stated that its goal with the challenge is to “tap into
additional innovative power, inspire new thinking, and create
opportunities for quantum builders to work with BMW on meaningful
business problems.”
The Vehicle Sensor Placement use case challenges participants to
find optimal configurations of sensors for a given vehicle so that
it can reliably detect obstacles in different driving scenarios –
using quantum computing or nature-inspired optimization approaches.
The number of sensors per car is expected to increase significantly
as autonomous driving becomes more common. Vehicles need sensors to
gather data from as large a portion of their surroundings as
possible, but each sensor adds additional costs, so optimizing the
sensor placement uses genetic algorithms. The goal of the challenge
is to use quantum computing techniques to optimize the positions of
sensors, enabling maximum coverage while keeping costs to a
minimum.
“This Challenge is yet another step in showcasing quantum
computing’s potential for commercial applications and real-world
business problem solving,” said Bob Liscouski, CEO of QCI. “We are
pleased that we have been selected to participate in the final
level of competition, and our team will work hard to demonstrate
the power of Qatalyst. Regardless of the final outcome, we believe
that the applications for quantum computing will significantly
increase over the coming years, and QCI is well positioned to be a
key player.”
About Quantum Computing Inc.Quantum Computing
Inc. (QCI) (Nasdaq: QUBT) is focused on accelerating the value of
quantum computing for real-world business solutions. The company’s
flagship product, Qatalyst, is the first software to bridge the
power of classical and quantum computing, hiding complexity and
empowering SMEs to solve complex computational problems today.
QCI’s expert team in finance, computing, security, mathematics and
physics has over a century of experience with complex technologies;
from leading edge supercomputing innovations, to massively parallel
programming, to the security that protects nations. Connect with
QCI on LinkedIn and @QciQuantum on Twitter. For more information
about QCI, visit www.quantumcomputinginc.com.
About the BMW Group Quantum Computing
ChallengeThe BMW Group Quantum Computing Challenge is
open to participants from research groups and companies worldwide.
The challenge is organized into two rounds. In the first round,
participants need to submit a well-documented concept proposal for
one of four use case challenges. In the second and final round,
teams with the top three submissions in each use case will be asked
to build out their solutions. The final, virtual presentation to
the competition’s judging panel, including domain experts from BMW
and AWS will take place in December. The winners will be announced
at the Q2B quantum computing industry conference (Dec.
7–9).
Important Cautions Regarding Forward-Looking
Statements
This press release contains forward-looking statements as
defined within Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. By their nature, forward-looking statements and forecasts
involve risks and uncertainties because they relate to events and
depend on circumstances that will occur in the near future. Those
statements include statements regarding the intent, belief or
current expectations of Quantum Computing (“Company”), and members
of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements.
The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed conditions.
Statements in this press release that are not descriptions of
historical facts are forward-looking statements relating to future
events, and as such all forward-looking statements are made
pursuant to the Securities Litigation Reform Act of 1995.
Statements may contain certain forward-looking statements
pertaining to future anticipated or projected plans, performance
and developments, as well as other statements relating to future
operations and results. Any statements in this press release that
are not statements of historical fact may be considered to be
forward-looking statements. Words such as “may,” “will,” “expect,”
“believe,” “anticipate,” “estimate,” “intends,” “goal,”
“objective,” “seek,” “attempt,” “aim to,” or variations of these or
similar words, identify forward-looking statements. These risks and
uncertainties include, but are not limited to, those described in
Item 1A in the Company’s Annual Report on Form 10-K, which is
expressly incorporated herein by reference, and other factors as
may periodically be described in the Company’s filings with the
SEC.
Qatalyst™ is the trademark of Quantum Computing Inc. All other
trademarks are the property of their respective owners.
Company Contact:Robert Liscouski, CEOQuantum
Computing, Inc.+1 (703) 436-2161Email Contact
Investor Relations Contact:Ron Both or Grant
StudeCMA Investor Relations+1 (949) 432-7566Email Contact
Media Relations Contact:Bob GellerFusion Public
Relations+1 (917) 816-0562qci@fusionpr.com
Quantum Computing (NASDAQ:QUBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Quantum Computing (NASDAQ:QUBT)
Historical Stock Chart
From Apr 2023 to Apr 2024