NEC and D-Wave Introduce New Quantum Offerings to Australian Market
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Insights
The partnership between NEC Australia and D-Wave Quantum Inc. signifies a strategic expansion of quantum computing services in the Australian market. The introduction of Quantum Consultancy Service and Leap™ Quantum Cloud Service could potentially disrupt multiple sectors, including logistics, finance and healthcare, by offering solutions to complex problems that traditional computing cannot efficiently solve. By optimizing operations and data analysis, these quantum services may lead to enhanced productivity and cost savings for businesses, which could reflect positively on the financial performance of the involved companies.
For investors, this collaboration represents an opportunity to monitor a burgeoning market where quantum computing is transitioning from an experimental phase to practical, real-world applications. The success of these services might influence the stock valuation of D-Wave and its partners, as they capitalize on the competitive edge provided by quantum technology. However, the quantum computing industry is still in its early stages and the actual impact on business operations and profitability remains to be seen over time.
Quantum computing is a cutting-edge technology that operates on the principles of quantum mechanics, offering a significant leap in processing power over classical computers. This partnership leverages D-Wave's annealing quantum technologies, which specialize in solving optimization problems by finding the lowest energy states of a system, analogous to finding the most efficient solutions in a business context. The Advantage™ quantum computers and quantum-hybrid solvers are particularly relevant for complex tasks such as financial risk modelling or drug discovery, where the ability to process vast datasets can lead to more accurate and innovative outcomes.
For the tech industry and academia, the availability of real-time quantum computing resources through the cloud can accelerate research and development, potentially leading to breakthroughs in various fields. This could also catalyze further investments and partnerships within the quantum computing sector, contributing to its growth and the development of new applications. As quantum technology matures, it's essential to monitor how these advancements translate into marketable products and services that provide a tangible return on investment.
The entry of quantum computing into operational use within Australia, as facilitated by NEC Australia and D-Wave, could have macroeconomic implications. By potentially increasing the efficiency of public services and infrastructure, such as emergency response and cargo transfers, quantum computing services may contribute to a reduction in resource wastage and an improvement in economic productivity. This could have a ripple effect on the economy, fostering innovation and competitiveness across various sectors.
Moreover, the alignment with the federal government's National Quantum Strategy indicates a supportive regulatory environment that may encourage further investments in quantum technology. In the long term, fostering a robust quantum computing industry could position Australia as a leader in this field, attracting global talent and investment and possibly contributing to the country's GDP growth. The strategic development of such high-tech industries is vital for the economic diversification and resilience of a nation.
Optimising business operations exponentially faster than ‘traditional’ computers, quantum technology services from NEC Australia and D-Wave are able to navigate increasingly large datasets to find solutions to real-world problems, including logistics and supply chain management, emergency response, financial risk modelling and drug discovery.
The joint service offering includes:
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Quantum Consultancy Service:
Through our refined engagement and delivery methodology, NEC Australia and D-Wave develop and test quantum solutions to help address our customers’ complex challenges using Proof of Concepts (POCs). Quantum solutions can then be seamlessly migrated into practical business applications. -
Leap™ Quantum Cloud Service:
This offering provides customers with access to the D-Wave Leap real-time quantum cloud service, enabling them to perform their own research whilst tapping into the cutting-edge capabilities of quantum computing.
The Quantum Consulting Service, powered by D-Wave’s skilled quantum data scientists, provides hands-on support to help customers understand and transform their complex business problems into optimised technical solutions for efficient and cost-effective implementation.
From improving the mobilisation of resources and response times during natural disasters and national emergencies, to improving the efficiency of cargo transfers at busy ports by up to
The Leap quantum cloud service delivers immediate, real-time access to D-Wave’s Advantage™ quantum computers and quantum-hybrid solvers, offering enterprise-class performance and scalability. The portfolio of hybrid solvers enables enterprises to address a myriad of business problems, varying in size and complexity.
Ayala Domani, Vice President – Technology & Innovation at NEC Australia, said quantum computing has matured rapidly and will provide Australian governments and businesses with a competitive edge.
"NEC Australia is delighted to partner with D-Wave to provide transformative quantum solutions here in
"Quantum computing is no longer solely the subject of futuristic speculation or found only in top-secret research facilities; it’s a commercially available technology that is revolutionising business and government operations today, and NEC Australia and D-Wave are proud to lead the way forward in this space,” she said.
NEC Australia’s National Portfolio Manager, Quantum Solutions, Michael Hall said:
"Supported by significant investment and research and development from the NEC global business, our collaboration with D-Wave has already enabled us to provide tangible benefits to the Australian Federal Government and a key transport entity in
“We’re helping our customers streamline their costs and improve efficiency by harnessing the power of D-Wave’s annealing quantum technologies, while leveraging NEC's extensive expertise in the Australian market," he said.
Vice President of Quantum Technology Evangelism at D-Wave, Murray Thom, is in
“Quantum computing is at an important inflection point, moving from experimentation to operational use, capable of helping organizations solve their computationally complex problems through real-world applications at scale,” said Thom. “We’re thrilled to team up with NEC to accelerate commercial and government adoption of this transformative technology in
Closely aligned with and supporting the federal government’s National Quantum Strategy, NEC Australia is committed to helping grow the quantum industry in
Drawing on NEC Australia's 50 years of expertise delivering complex technical solutions to Australian government agencies and businesses, and D-Wave's 20+ years of global leadership in quantum computing solutions, they have delivered successful local quantum applications together since 2021. United by a shared vision, NEC Australia and D-Wave believe in the transformative potential of quantum computing to elevate economic prospects and opportunities for all Australians.
NEC and D-Wave will be jointly speaking at Quantum Australia 2024 in
About NEC
NEC
About D-Wave
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world’s first commercial supplier of quantum computers—and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Wave’s technology has been used by some of the world’s most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of
Forward-Looking Statements
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this press release include, but are not limited to, statements regarding the potential of quantum computing and D-Wave’s plans to speak at Quantum Australia 2024. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including unforeseen issues with travel; the risk that Quantum Australia 2024 does not go ahead as planned or at all; general economic conditions and other risks; our ability to expand our customer base and the customer adoption of our solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of our business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of our products; the effects of competition on our business; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we may never achieve or sustain profitability; the risk that we are unable to secure or protect our intellectual property; volatility in the price of our securities; the risk that our securities will not maintain the listing on the NYSE; the risk that our restatement of certain previously issued audited and unaudited financial statements or material weaknesses in internal controls could negatively affect investor confidence and raise reputational issues; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240219991541/en/
NEC
Liz Ackroyd
Corporate Communications Specialist
M: +61 405 707 161, E: liz.ackroyd@nec.com.au
D-Wave
Alex Daigle
media@dwavesys.com
Source: D-Wave Quantum Inc.
FAQ
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