Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has entered into a collaboration with leading Artificial Intelligence (AI) and Machine Learning company, Max Kelsen, to develop quantum algorithms relevant to the operation of the 12CQ quantum computing processor.
This collaboration is a critical step in the commercialisation of the 12CQ chip, which applies and runs quantum algorithms to generate value from outperforming modern computing.
The quantum computing outcomes from the collaboration will target multiple sectors, including information and communications technology (ICT) and financial services.
Key step forward in commercialisation
Archer chief executive officer Dr Mohammad Choucair said: “As part of Archer’s forward-looking strategy, the partnership with Max Kelsen – a leading AI and Quantum Computing firm – is a key step forward in the commercialisation of our 12CQ chip technology.
“It’s a great example of how two Australian IBM Q Network Members are working together to realise the commercial potential of quantum computing.
“We will use IBM’s Qiskit and quantum machines to validate our work, and once validated, Archer intends to apply the end-user cases, algorithms and Qiskitto 12CQ chip hardware, which demonstrates the increasing value our partnerships bring as we progress in our development.”
Shares on the ASX have been as much as 9.5% higher to A$0.585 cents while the company's market cap is approximately $121.4 million.
Developing business use-cases
As IBM Q Network members, Archer and Max Kelsen will use IBM’s Qiskit open source programming framework and cloud-based quantum computers to implement novel quantum algorithms developed that validate practical quantum computing applications relevant to Archer’s 12CQ chip technology.
As part of the collaboration, Archer staff will work directly with the quantum computing team at Max Kelsen to develop industrially relevant business use-cases of the 12CQ technology for a number of sectors with the potential for high-value add, including finance and telecommunications.
12CQ is a world-first quantum processor technology that Archer aims to build for quantum computing operation at room-temperature and integration onboard modern electronic devices.
This will involve the use of quantum processors to run quantum algorithms that have real applications such as Quantum Artificial Neural Networks.
Max Kelsen
Founded in Brisbane in 2015, Max Kelsen enables innovation directly linked to the generation of business value and competitive advantage, including for Fortune 500 companies and some of Australia’s most iconic brands.
Max Kelsen’s solutions provides extremely accurate predictive modelling in critical systems like clinical decision making.
It also reinvests its expertise and profits to solve the challenges of humankind, focusing on Cancer Genomics, AI Safety, and Quantum Computing.
Max Kelsen was the Amazon Web Services (AWS) Partner of the Year in 2020 for Data and AI.