LEESBURG, Va., April 27,
2023 /PRNewswire/ -- Quantum Computing Inc. ("QCI" or
the "Company") (NASDAQ: QUBT), a first-to-market full-stack
photonic-based quantum computing and solutions company, today
announced the signing of a Memorandum of Understanding with AI firm
millionways to demonstrate the power of artificial intelligence
when combined with Quantum Computing Inc.'s Reservoir Quantum
Computing (RQC).
The goal of the partnership is to explore and determine the
business value of the combination of millionways' AI algorithms and
QCI's existing RQC systems using audio files to produce an
emotional scoring capability. If successful, the companies
will develop a joint marketing and business development plan to
pursue commercial opportunities.
millionways, a New York City
based technology firm, is a leader in the development of AI
algorithms used to effectively provide next-gen feedback to users
on their emotional IQ and personality insights.
Emotionally-intelligent AI can be continuously fed with speech
entries like a diary, recognizing patterns and unconscious moods
within speech and returns individual personality analysis to the
user based on science and empathy. Currently, millionways'
progressive emotionally-intelligent AI platform develops algorithms
utilizing various forms of text, similar to others in the
marketplace today. However, the real breakthrough for the AI
platform is expected to occur when its emotionally-intelligent
platform can respond to voice. QCI's RQC can process audio
files and enable the emotional intelligence to directly process a
whole new medium of voice, creating applications that will expand
AI into useful business and personal consumer uses.
"This is the first joint commercial application of our reservoir
computing technology. Over the past few months, we have done lots
of internal tests on our systems, which has built our confidence in
the opportunity of transforming the world of AI with quantum,"
stated Robert Liscouski, QCI's
CEO. "The market is already familiar with what ChatGPT and
other AI algorithms can do with classical computers. Using our
unique quantum photonic hardware tailored to accelerate AI
applications by addressing existing and emerging challenges such as
power consumption, cost of systems, demands on training data sizes,
and processing speed, we hope to greatly contribute to the growing
interest and demand of AI. If we progress as we expect, we
should be in the market with a commercialized application or
product by year end 2023, if not sooner."
Reservoir computing is a type of machine learning technique that
uses a fixed, random "reservoir" of interconnected nodes to perform
computations on input data. The reservoir is a complex dynamical
system that has a high-dimensional state space and exhibits
nonlinear and chaotic behavior. The input data is fed into the
reservoir, which transforms it in a non-linear way, and the output
is obtained by reading out a linear combination of the reservoir's
states. The key advantage of reservoir computing is that the
reservoir can be pre-trained using simple random connections and
then used as a fixed feature extractor for a wide range of tasks.
Reservoir computing has been successfully applied to a variety of
applications, including time-series prediction, speech recognition,
image and video processing, and control systems. However,
there are limitations to classical reservoir computing,
particularly in training the computer, which can take a long time
and require a lot of energy.
Quantum reservoir computing is a variation of classical
reservoir computing that uses quantum-mechanics, such as
superposition and entanglement principles, to create
quantum-boosted neural networks. Quantum reservoir computing has a
number of significant advantages over classical reservoir computing
with, namely, increased connectivity and capacity, decreased
training bias, and strengthened security. The photonic systems at
QCI also deliver additional benefits of high energy-efficiency,
versatility, and scalability.
Dr. Yuping Huang, QCI Chief
Quantum Scientist stated, "From the beginning, we have
strategically focused all our development efforts on quantum
photonics, fully appreciating all the significant advantages over
other methodologies and platforms. We hope to take advantage of
cutting-edge photonic hardware which is well suited to handling
quantum data processing and thereby, a significant cost and time
savings. QCI's near term strategic plan is to make our RQC
commercially available for the AI community to use and explore many
different applications."
"We enthusiastically look forward to team up with QCI to
demonstrate how our advanced AI capabilities will benefit from
quantum information technologies. millionways has a number of
practical capabilities already in the marketplace such as our
Emotionally Intelligent AI that helps companies build the right
team and develop a strong culture with highly motivated employees
using our text-based personality analytics platform," stated Martin
Cordsmeier, CEO of millionways. "QCI is one of the leading
quantum hardware companies using photonics to create real world
solutions. QCI's Reservoir Quantum Computer, with its ability
to process audio files will add an incredible dimension to our AI
platform and open completely new markets to allow users to interact
with voice rather than typing text. Imagine the applications:
everything from entertainment to medicine to ensuring that people
have someone to talk to when they need to communicate.
Elderly users who are isolated and alone would benefit
greatly."
Quantum Computing Inc. expects to complete its initial work in
the summer of 2023 and will announce follow on plans for
collaboration after the results. Preliminary independent
assessment by both companies proved highly interesting, though the
actual results are expected to be published mid-year upon the
conclusion of the proof of concept.
For additional information on the company's suite of solutions,
please visit our website or contact our team directly.
About Quantum Computing Inc.
QCI is a full-stack quantum software and hardware company on a
mission to accelerate the value of quantum computing for real-world
business solutions, delivering the future of quantum computing,
today. The company is on a path to delivering an accessible and
affordable full-stack solution with real-world industrial
applications, using quantum entropy, which can be used anywhere and
with little to no training. QCI's experts in finance, computing,
security, mathematics and physics have over a century of experience
with complex technologies ranging from leading edge supercomputing
to precision sensors and imaging technology, to the security that
protects nations. For more information about QCI, visit
www.quantumcomputinginc.com.
About millionways
millionways created the world's first emotionally-intelligent
A.I. assessment tools, providing next-gen personality insights.
Founded in New York, NY in 2017,
millionways' disruptive technology is based on first
time-digitalized PSI theory, natural language processing, meets
several "zeitgeist topics" and can be utilized for B2B and B2C,
which makes it a potential - currently untouched - billion dollar
market opportunity. millionways was developed, and is continually
evolving, through its team of renowned scientists, developers,
psychologists, philosophers, deep thinkers, and people who use it.
For more information, visit
www.millionways.me/#/en.
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 Inc. (the "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.
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SOURCE Quantum Computing Inc.
