LEESBURG, Va., Could 22, 2023 /PRNewswire/ — Quantum Computing Inc. (“QCI” or the “Firm”) (NASDAQ: QUBT), the first-to-market full-stack photonic-based quantum computing and options firm, at this time introduced that its Board of Administrators has unanimously accredited the signing of a non-binding Letter of Intent (LOI) to accumulate as much as 100% of the AI agency, millionways, creator of the world’s first emotionally-intelligent AI platform, pending the completion of due diligence by impartial third social gathering valuation and equity opinion corporations. The LOI follows the teaming and mixing of millionways’ AI sensing algorithms with QCI’s quantum photonics computing energy, together with substantive progress made for the reason that Firm’s preliminary testing engagement introduced in April 2023.
Based mostly in New York Metropolis, millionways is a pacesetter within the improvement of AI algorithms used to successfully present next-gen suggestions to customers on their emotional state and persona insights. Millionways’ superior emotionally-intelligent AI platform uniquely combines evaluation and matchmaking algorithms primarily based upon numerous types of user-generated textual content or audio-to-text information with not less than 500 phrases. The expertise provides quick-turnaround evaluation. In contrast to different machine studying platforms corresponding to ChatGPT, Alexa, or Siri, the millionways proprietary methodology and algorithms make behavorial predictions primarily based on psychological patterns pushed by underlying feelings. The methodology, generally known as Persona Techniques Interactive (PSI) idea, is a acknowledged and validated mannequin for learning the dynamics of persona improvement and emotional state. The millionways AI mannequin delivers human conduct persona assessments which have clear purposes in making essentially the most knowledgeable choices in healthcare, hiring, courting, buyer relations, and normal purposes the place social interactions drive behavorial outcomes.
Over the previous yr, QCI has constructed and examined a number of hybrid AI {hardware} methods utilizing photonics and quantum mechanics to spice up machine studying effectivity, cut back the ability consumption, and considerably pace up the coaching. These methods have demonstrated substantial benefits over current digital digital {hardware} for a lot of AI purposes. Upon these successes, the QCI near-term technique contains (1) providing laptop computer/desktop-size units on the market, (2) looking for business partnerships to discover numerous purposes in several software domains, and (3) partnering with millionways to show/spotlight the Firm’s dedication to AI and speed up its entrance into the business.
Robert Liscouski, QCI’s CEO and co-founder commented that, “The strategic integration with QCI’s Reservoir Computing methods will “supercharge” millionways’ algorithms to ingest audio recordsdata, including a major new functionality to overlay context and tonal info to the present pure language processing to textual content conversion information utilized by the system at this time. Emotionally-intelligent AI could be repeatedly fed with voice entries and in the end reside video to acknowledge patterns and unconscious moods immediately inside speech and physique, thus returning a extra correct and complete persona evaluation of a person.”
Mr. Liscouski continued, “The rise of AI purposes depends on the quick growth of computing energy and decreasing its voracious want for electrical energy. QCI’s hybrid {hardware} options meet the evolving wants of AI and delivers exceptional computing pace, low electrical energy wants with minimal warmth dispersion and helps large-scale parallel processing and thereby the agility to compete with giant information facilities on massive information challenges. This specific partnership will allow the event of recent persona algorithms that may be skilled and tailored a lot sooner, extra precisely and at decrease value.”
Mr. Liscouski famous, “It’s our long run acknowledged mission to democratize quantum applied sciences and produce this energy to AI corporations, affording them the flexibility to compete at ranges that heretofore have solely been open to giant and well-funded corporations. Importantly, we acknowledge that the sphere of AI is shortly evolving and has come beneath vital scrutiny. QCI and millionways are aligned to show that the mixture of our applied sciences will be capable to make sure the integrity of the output of AI methods and decide if textual content, speech or video is faux or actual.”
In keeping with the phrases of the LOI, QCI will present a sequence of three bridge loans to millionways beginning at $125,000 and doubtlessly aggregating as much as $2,000,000, at QCI’s discretion. Upon the completion of the primary bridge mortgage, QCI can have the correct of first refusal (“RoFR”) to buy millionways for a one-year interval. Upon completion of the ultimate bridge mortgage, QCI’s RoFR will embrace a predetermined most valuation. The bridge loans would carry an rate of interest of 10% each year, a time period of 12 months and can be pari passu to all different current debt of millionways, excluding any payables to the important thing inside stakeholders. Within the occasion QCI enters into the proposed three bridge loans and decides to not proceed with an acquisition of millionways, the bridge loans would change into senior to all current debt excluding short-term financial institution traces and related short-term obligations. Moreover, QCI has the choice to transform the bridge loans at any time into SAFE notes, which might not carry an rate of interest, however could be convertible into shares of millionways widespread inventory on the lowest low cost offered to different buyers.
Martin Cordsmeier, CEO of millionways acknowledged, “The marketplace for a low-cost skill to objectively analyze particular person personalities en mass is an especially giant and profitable market. Within the quantum area, QCI has established itself as a pacesetter in {hardware} innovation and commercialization. Like QCI, millionways has already begun commercialization. As of final summer season, we’ve carried out preliminary integration of use instances with over 50 main US corporations. Additionally, like QCI, we’ve a core expertise that may be simply and affordably flexed to resolve main enterprise challenges in any business, which makes the concept of mixing our two groups much more enticing. Throughout the first few days of our launching our testing engagement in April, it turned obvious that utilizing QCI’s distinctive hybrid methods of quantum, photonics, and electronics would enable our AI builders the flexibility to increase our already huge capabilities utilizing the huge enhance in processing energy with amazingly low electrical energy prices. Much more spectacular, given the predictive and nearly simultaneous processing functionality of QCI in all issues of wealthy media, future purposes of our mixed expertise could possibly be limitless.”
For extra info on the businesses’ options, please go to: Quantum Computing Inc. (QCI) and millionways.
About millionways
millionways created the world’s first emotionally-intelligent A.I. evaluation instruments, offering next-gen persona insights. Based in New York, NY in 2021, millionways’ disruptive expertise relies on first time-digitalized PSI idea, pure language processing, meets a number of “zeitgeist subjects” and could be utilized for B2B and B2C, which makes it a possible – at present untouched – billion greenback market alternative. millionways was developed, and is frequently evolving, by way of its staff of famend scientists, builders, psychologists, philosophers, deep thinkers, and individuals who use it. For extra info, go to https://millionways.me
About Quantum Computing Inc. (QCI)
Quantum Computing Inc. is a full-stack quantum {hardware} and software program firm on a mission to speed up the worth of quantum computing for real-world enterprise options, delivering the way forward for quantum computing, at this time. The corporate delivers accessible and inexpensive full-stack options with real-world industrial purposes, utilizing photonic-based quantum entropy, which can be utilized anyplace and with little to no coaching, operates at regular room temperatures and low energy. QCI is competitively advantaged delivering its quantum options at better pace, accuracy, and safety at much less value QCI’s core entropy computing functionality, the Dirac sequence, delivers options for each binary and integer-based optimization issues utilizing over 11,000 qubits for binary issues and over 1000 (n=64) qudits for integer-based issues, every of that are the very best variety of variables and drawback dimension obtainable in quantum computing at this time. Utilizing the Firm’s core quantum methodologies, QCI has additionally developed particular quantum purposes for AI, cybersecurity and distant sensing, together with its Reservoir Quantum Computing, reprogrammable and non-repeatable Quantum Random Quantity Generator and LiDAR merchandise. For extra details about QCI, go to www.quantumcomputinginc.com.
About QI Options, Inc. (QIS)
QI Options, Inc., a completely owned subsidiary of Quantum Computing Inc., is a provider of quantum expertise options and companies to the federal government and protection industries. With a staff of certified and cleared employees, QIS delivers a variety of options from entropy quantum computing to quantum communications and sensing, backed by experience in logistics, manufacturing, R&D and coaching. The corporate is completely centered on delivering tailor-made options for companions in numerous authorities departments and companies.
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SOURCE Quantum Computing, Inc