Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) is making progress developing the artificial intelligence (AI) potential of its flagship 12CQ chip - world-first qubit processor technology that will enable quantum computing powered devices for mobile and data-centric applications.
The company began collaborating with leading AI and machine learning company Max Kelsen in December last year, to develop quantum algorithms relevant to the operation of the 12CQ quantum computing processor.
It is currently working on optimising Quantum Neural Networks, which could be relevant to consumer and enterprise-scale AI technology products.
This work involves adapting a unique class of quantum algorithms, called the Quantum Approximation Optimisation Algorithm, to be used in the training of quantum neural networks, which are artificial neural network models that mimic the way the human brain functions and are used in computing.
Parallels to home computing boom
Archer CEO Dr Mohammad Choucair said the potential of quantum computing had echoes of the boom in home computing that occurred in the 1980s.
“There are parallels between the business growth strategies of quantum computing companies today and the computing companies of the 1980s that have since come to dominate global tech,” he said.
“Hardware and software firms working together at an early stage of technology development is a well-known recipe for success in the computing industry.
“At Archer, we are working with global leaders in computing and AI to develop and integrate the software required to enable the operation of our 12CQ chip and its proposed high impact end-use applications.”
Quantum computing summary
Quantum computing aims to utilise quantum mechanical phenomena to power the next generation of computers.
You almost need a degree in physics to truly understand quantum mechanics, but at a basic level, it describes the way nature and matter function at the scale of atoms and subatomic particles, which is fundamentally different from the way they function at the many scales above that size (which is described by classical physics).
Functioning quantum computers remain a matter of theory at this point in time but, should they be successfully developed, it is hypothesised that they could solve computational problems substantially faster than the computers we know and (most of the time) love.
Archer’s progress
The quantum algorithms being developed by Archer and Max Kielsen, which are both members of the global IBM Quantum Network, could potentially allow quantum computing devices to outperform modern computers in solving complex problems with broad applications, Archer says.
Early results of the ongoing algorithm development with Max Kelsen indicate that significant improvements in algorithmic performance can be achieved.
This is important since it may provide a viable pathway to the implementation of quantum neural networks and related algorithms on near-term, early versions of quantum computing hardware devices.
Testing and validation are performed using IBM’s Qiskit software and quantum computers.
Archer’s market cap is approximately A$171.8 million and intra-day shares have been as much as 7.3% higher to A$0.815.
- Daniel Paproth