QCI CEO Outlines Company Progress in Shareholder Letter
(GlobeNewsWire) Quantum Computing Inc., a leader in bridging the power of classical and quantum computing, today announced that it has issued a forward looking letter to shareholders pertaining to expansion of its quantum-ready software to commercial applications. The letter reviews the company’s achievements and offers a positive outlook on growth. A summary is below.
QCI offers easily deployed quantum software solutions for some of the world’s most complex computational problems, with solutions designed to optimize high-value business processes such as supply chain logistics, drug discovery, cybersecurity, and transportation.
The company’s core software technology, Qatalyst™ delivers best-in-class performance and accuracy using highly optimized, quantum-ready formulations, and this has attracted users from multiple business verticals.
While today’s quantum computers (QCs) alone cannot yet scale to solve enterprise-class problems, QCI currently accelerates the value, accuracy and timeliness of classical systems, thanks to the application of powerful quantum-ready techniques. Qatalyst simultaneously offers seamless access to QCs to process the same problems without any need for coding new and complex quantum programs.
According to QCI CEO, Robert Liscouski: “Much of the market continues to focus on pure quantum for quantum’s sake. However, the simple reality is that delivering business value with quantum in the near term will not come from quantum alone. It can only be derived from the sophisticated combination of classical and quantum computing techniques that is enabled today with Qatalyst.”
Delivering immediate value with quantum techniques or quantum computers also demands software that brings this power within the reach of end users and programmers. Other quantum vendors offer software development toolkits (SDKs) that require expensive and hard to find quantum expertise. QCI alone provides simple, seamless access to powerful computational software across a variety of classical and quantum computers with no quantum expertise required.
Qatalyst’s unique ability to leverage classical and quantum computers to deliver solutions across multiple domains without reliance on the scalability of quantum computers has placed QCI in a unique, compelling position with its prospective commercial customers and partners.
QCI has discovered that even the most technically advanced integrators and scientific laboratories want a simpler way to deliver quantum applications, validating its unique approach to masking the complexity of quantum programming.
“The technical experts we are working with today want to focus on solving problems, and not be burdened with the deep-level, complicated coding required by QC hardware and software development kits or SDKs,” noted QCI chief technology officer, Mike Booth. “Qatalyst allows users to see their first results in less than a week, as compared to the year or more using SDKs.”
The U.S. Department of Energy national labs, large universities, and QC providers have also participated in the commercial launch of Qatalyst, and have been collaborating with QCI on how quantum techniques can advance their real-world applications.
“Based on the feedback we have received from our partners and initial users, we believe QCI has a unique first-mover advantage and a leadership position in delivering business value today with Qatalyst,” added Liscouski. “We are confident that the success of real-world use cases with our initial clients will soon convert to paying customers.”
Advancing toward this goal, the company is working closely with an expanding number of market leaders to define and create quantum-driven solutions to their business challenges. This includes:
Fraud Detection: A large global data company is working with QCI to identify credit card fraud, security risks for illicit activity, and physical access to secure sites. The effort is focused on how to address current and future cyber risks using Qatalyst-powered quantum technologies in community detection.
Global Pipeline Logistics and Supply Chain: A global oil company is using Qatalyst to optimize its logistics and supply chain as well as pipeline security.
Intelligent Routing: A large global manufacturer is exploring the use of Qatalyst for intelligent routing and distribution optimization for vehicles, devices, and products.
Robotics: The same manufacturer is looking to automate warehouse robotics for order fulfillment optimization.
Drug Discovery: A pioneering pharmaceutical company is using Qatalyst to leverage the power of quantum techniques for community detection, drug discovery, diagnostics, and treatments.
Optimizing Complex Computations: A system integrator is using Qatalyst to optimize business critical data analytics and complex computations for its clients.
“These initial customers and their real-world applications are demonstrating Qatalyst’s tremendous value and are guiding us to our most significant near-term revenue opportunities,” commented David Morris, QCI chief revenue officer who joined the company earlier this year.