QCI Set to Win as Only Public Pure-Play in Quantum Computing
LEESBURG, Va., July 01, 2020 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (OTCQB: QUBT) (QCI), a technology leader in quantum-ready applications and tools, has entered the commercialization phase as the only public pure-play in the quantum computing space.
After hitting several major milestones, QCI has begun the official commercial launch of its Mukai™ quantum computing software execution platform. Last week, the company introduced a new trial access program that demonstrates the unique power of Mukai to solve real-world problems.
The trial enables developers and organizations to discover first-hand how they can migrate their existing applications to quantum-ready solutions today and realize superior performance even when running their solutions on classical (Intel® or AMD processor-based) computers. The trial is designed to encourage and facilitate quantum application development to solve real world problems at breakthrough speed—and not tomorrow, but today.
Building the Team
“There are only a handful of quantum software experts in the world, and fortunately for us, this includes Mike and Steve," commented QCI CEO, Robert Liscouski. “They have been doing an outstanding job building out our software engineering teams, developing our first quantum-ready products, and preparing QCI for commercial success.”
To support their efforts, over the last year QCI has also expanded its technical advisory board with the addition of five noted IT experts and industry thought leaders. They have been helping to advance the company’s go-to-market strategy and position QCI as a key partner to system integrators, as enterprises worldwide begin to evaluate how quantum-ready solutions can enhance their business applications.
As part of its new commercialization phase, QCI has begun the search for sales and marketing executive leadership as well as sales professionals with domain expertise, and particularly for those with established relationships with potential customers that can accelerate QCI’s path to revenue this year.
QAA is the first of a series of QCI products that will leverage quantum techniques to provide differentiated performance on both classical computers (Intel® or AMD processor-based) and on a variety of early-stage quantum computers. The company is looking to convert its QAA beta users into long-term customers.
Industry-Leading Performance Breakthrough
This breakthrough in performance means Mukai can provide better results than currently used software to solve complex optimization problems faced by nearly every major company and government agency worldwide. It has also effectively eliminated one of the greatest obstacles to the development and adoption of quantum-ready applications.
For the first time, Mukai enables application developers to solve many of the complex problems that quantum computers are expected to eventually tackle, but with superior results achieved today using classical computers. The power of Mukai has also brought us to the day when quantum computers can work together with classical systems and achieve greater performance over what classical systems can do alone.
The QCI Value Proposition
“The core of our strategy has been to anticipate the direction of the market and be ahead of it by offering unique solutions that establish QCI as a market leader,” commented Liscouski. “We will be driven by the market, but in turn will drive the market by helping our customers realize their quantum-enabled future.”
While quantum computing is typically a high-dollar investment given the sophisticated and costly hardware requirements, Mukai makes quantum application development affordable and scalable compared to running solutions on intermediate quantum computers, like those offered by D-Wave, Fujitsu, IBM and Rigetti.
A significant advantage for applications developed with Mukai is that they will be ready to run on the quantum computers of tomorrow when they achieve their anticipated performance superiority. This will preserve an organization’s investment in early quantum software development while ensuring a competitively faster time-to-market when superior quantum performance arrives.
Solving Problems the Quantum Way
Optimization can also significantly mitigate the impact to revenue or business operations posed by disruptive events such as flooding, power outages, wildfires, or other adverse scenarios. Companies can leverage the robust and diverse solutions offered by Mukai to minimize such disruptive, high-impact events in real-time.
Optimization can also be valuable in research and design, like in drug discovery, where better predicted protein folding can speed the design process, increase drug efficacy, and guide the search for patient cohorts who might benefit. Mukai can help portfolio managers maximize return on investments by calculating the optimal portfolio mix.
Altogether, such optimizations could generate hundreds of billions of dollars in savings annually. Given the vast cost-saving potential of optimizations made possible by Mukai, we cannot imagine a more compelling value proposition for commercial and government users.
Multi-Billion Dollar Global Opportunity
Most of the spending over the recent years has been on developing the hardware for quantum computing. Now that the first intermediate quantum computers have become available, the industry is turning to purchase or develop applications to run on them. This is similar to the state of the classical computer industry back in the 80s and then the smartphone market after the turn of the century. It is now time for software platforms and applications to become the engine for the quantum computing industry.
The anticipated rapid growth in the quantum computing market will be driven by applications that solve real-world problems. This current state of the market provides a unique opportunity for QCI, which has now emerged as an industry leader by offering the most powerful tools for quantum software development.
QCI has brought the market into the future, making today the best time to begin to leverage the power of quantum technologies. Organizations looking for differentiated applications that set them ahead of the competition cannot afford to wait until these technologies become mainstream. QCI is uniquely positioned to address this large and fast-growing market at scale, and without having to bet on which type of quantum computer will be the first to achieve the quantum advantage.
New Key Partnerships
QCI’s collaboration with Splunk has been initially focused on network security, dynamic logistics and scheduling—three key areas of operations which can benefit the most from quantum computing. Using Mukai, they are conducting both fundamental and applied research, and developing analytics that can exploit conventional large-data cybersecurity stores and data-analytics workflows in combination with proprietary quantum-ready graph and constrained-optimization algorithms.
In addition to industry partnerships, the company sees strong relationships with academia as another path to building a broad base of Mukai users. It has developed academic partnerships with Purdue University, Indiana University and Notre Dame, and are in discussions with others. Last week, QCI participated in a virtual workshop at Purdue, where professors and students were able to experience our software for the first time. The company anticipates many of its initial Mukai users will be university students who will eventually carry their acquired expertise in Mukai into their jobs and business solutions.
Building Shareholder Value
The new Mukai trial access program has begun the process of building a large and active user base, which will eventually lead to the generation and growth in recurring revenue, profitability, and substantial returns on invested capital over time.
“Ultimately, the creation of shareholder value will be a direct result of our success in helping our clients solve their business problems with immediate benefit from quantum technologies,” added Liscouski. “Our new Mukai trial program will require an investment of resources and time, but we expect it to result in an expanding user base that will provide significant future monetization opportunities.”
About Quantum Computing Inc.
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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.
Mukai™ is a trademark of Quantum Computing Inc. Intel® is a trademark of Intel Corporation.
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