First Pure Quantum Solution of a Complex Commercial Problem with Over 3,800 Variables Addresses Quantum’s Ability to Solve Large Scale Problems Today
LEESBURG, Va., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (“QCI” or the “Company”) (NASDAQ: QUBT), a leader in accessible quantum computing, today shared a video demonstrating what it believes is a landmark achievement in the field. In the video, QCI CTO/COO William McGann reveals that the Company has solved a sensor optimization problem with over 3,800 variables including 500 constraints in just over six minutes. This achievement demonstrates the first full-quantum solution, delivering a feasible and optimal result that is superior to previous comparative classical and hybrid approaches.
The video (linked here) also features Dr. McGann presenting data that shows full quantum solutions are available today, refuting what the Company believes is a commonly accepted misconception that quantum solutions for complex real-world business problems will not be available for many years into the future. As outlined in the video, QCI applied its new quantum hardware technology called Entropy Quantum Computing (EQC) to the public Quantum Computing Challenge hosted and organized by the BMW Group.
In comparison to QCI’s achievement, today’s Noisy Intermediate Scale Quantum (NISQ) computers can only process ~127 variables for a problem of similar complexity. QCI’s EQC performs accurately at room temperature and without the exceptionally expensive isolation room that most quantum computers require to prevent even a tiny temperature change or vibration from degrading the quality or veracity of the results.
“Many quantum companies have predicted the timeline of pure quantum solutions solving real and complex business problems is about 3-5 years away. We believe we have proven that the day has already arrived,” said Robert Liscouski, CEO, QCI. “This is the sunrise of a new era in computing, in which we believe that quantum will be the primary means of solving many of the most complicated and critical problems facing business.”
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (NASDAQ: QUBT) 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 recently acquired QPhoton, a quantum photonics innovation company that has developed a series of quantum photonic systems (QPS). The combination of QCI’s flagship ready-to-run software product, Qatalyst, with QPhoton’s QPS, sets QCI on a path to delivering a broadly accessible and affordable full-stack quantum solution that can be used by non-quantum experts, anywhere, for real-world industry applications. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; 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.
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.
Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
Company Contact:
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
Email Contact
Media Relations Contact:
Seth Menacker
Fusion Public Relations
+1 (201) 638-7561
qci@fusionpr.com
