QCI Qatalyst Selected by BMW Group and Amazon Web Services as a Finalist in the Quantum Computing Challenge

Rhea-AI Summary

Quantum Computing Inc. (QUBT) announced that its Qatalyst quantum software was selected as a finalist in the BMW Group and Amazon Web Services Quantum Computing Challenge. The competition focuses on optimizing vehicle sensor placements for improved obstacle detection, utilizing quantum computing techniques. This recognition highlights quantum computing's potential for real-world industrial applications. Bob Liscouski, CEO of QCI, expressed confidence in the growing relevance of quantum solutions for commercial challenges. The final presentation will occur in December, with winners announced at the Q2B Conference.

Positive

• Qatalyst recognized as a finalist in a prestigious competition.
• Demonstrates real-world applicability of quantum computing in industries.
• CEO expresses confidence in future growth and relevance of quantum solutions.

Negative

• None.

Quantum optimization provides deep insights for critical industrial application

LEESBURG, Va., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (Nasdaq: QUBT), a leader in bridging the power of classical and quantum computing, announced that its Qatalyst ready-to-run quantum software was selected as one of three finalists for the second and final round of the BMW Group and Amazon Web Services (AWS) Quantum Computing Challenge for the Vehicle Sensor Placement use case.

The Quantum Computing Challenge invited the quantum community to apply innovations in quantum computing to real world problems in industrial applications. The use case problems presented in the challenge represent critical commercial applications that demonstrate the real-world value of quantum computing.

BMW stated that its goal with the challenge is to “tap into additional innovative power, inspire new thinking, and create opportunities for quantum builders to work with BMW on meaningful business problems.”

The Vehicle Sensor Placement use case challenges participants to find optimal configurations of sensors for a given vehicle so that it can reliably detect obstacles in different driving scenarios – using quantum computing or nature-inspired optimization approaches. The number of sensors per car is expected to increase significantly as autonomous driving becomes more common. Vehicles need sensors to gather data from as large a portion of their surroundings as possible, but each sensor adds additional costs, so optimizing the sensor placement uses genetic algorithms. The goal of the challenge is to use quantum computing techniques to optimize the positions of sensors, enabling maximum coverage while keeping costs to a minimum.

“This Challenge is yet another step in showcasing quantum computing’s potential for commercial applications and real-world business problem solving,” said Bob Liscouski, CEO of QCI. “We are pleased that we have been selected to participate in the final level of competition, and our team will work hard to demonstrate the power of Qatalyst. Regardless of the final outcome, we believe that the applications for quantum computing will significantly increase over the coming years, and QCI is well positioned to be a key player.”

About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (Nasdaq: QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. The company’s flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMEs to solve complex computational problems today. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing innovations, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit www.quantumcomputinginc.com.

About the BMW Group Quantum Computing Challenge
The BMW Group Quantum Computing Challenge is open to participants from research groups and companies worldwide. The challenge is organized into two rounds. In the first round, participants need to submit a well-documented concept proposal for one of four use case challenges. In the second and final round, teams with the top three submissions in each use case will be asked to build out their solutions. The final, virtual presentation to the competition’s judging panel, including domain experts from BMW and AWS will take place in December. The winners will be announced at the Q2B quantum computing industry conference (Dec. 7–9).

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 (“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:
Bob Geller
Fusion Public Relations
+1 (917) 816-0562
qci@fusionpr.com

 

FAQ

What was the result of Quantum Computing Inc.'s participation in the BMW Group Quantum Computing Challenge?

Quantum Computing Inc. was selected as a finalist for the challenge, showcasing its Qatalyst software.

What is the significance of the BMW Group and AWS Quantum Computing Challenge for QUBT?

The challenge validates the commercial potential of Qatalyst in optimizing industrial applications like vehicle sensor placements.

When will the final presentations for the BMW Group Quantum Computing Challenge take place?

The final presentations are scheduled for December, with winners announced at the Q2B conference.