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Agnostiq selects Pennylane to develop quantum platform for finance

By IQT News posted 11 Nov 2021

(PRNewswire) Agnostiq partners with Xanadu to build products on top of Xanadu’s open-source software, PennyLane, to solve and address financial problems using advanced computing technologies. PennyLane provides a powerful and pioneering differentiable programming approach to quantum computing. It seamlessly integrates classical machine learning libraries with quantum hardware and simulators, giving users the power to train quantum computers the same way as neural networks.
Agnostiq makes it easy for companies to solve mission-critical tasks by using their modular quantum computing platform. Agnostiq recognizes that the financial services industry is transforming at an incredible pace and that being forward-looking is a must. The choice of PennyLane as the base for Agnostiq’s solutions will allow its clients to grow their applications quickly and with flexibility into the future.
“Xanadu’s PennyLane software offers a strong foundation for near-term quantum applications. Its modularity, flexibility, and raw speed enable Agnostiq’s products to easily transition from research to production,” said William Cunningham, Agnostiq’s Head of Quantum Software.
With PennyLane at the core of Agnostiq’s product suite, firms in the financial services industry can be sure that the tools they build conform with the best practices in quantum differentiable programming, with one of the largest open-source quantum communities backing the underlying components.
A partnership between Agnostiq and Xanadu will see PennyLane implemented at an industrial-scale by some of the world’s leading financial institutions. The partnership represents a further step towards lowering the barrier for enterprise clients to take advantage of quantum computing.
Agnostiq develops software tools and applications for advanced computing devices, with the aim of making these technologies more accessible to the enterprise space. Agnostiq is an interdisciplinary team of physicists, computer scientists, and mathematicians backed by leading investors in New York and Silicon Valley. Visit www.agnostiq.ai for more information.

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