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Quantum Computing Inc. Signs Letter of Intent to Acquire Privately Held Artificial Intelligence Platform millionways
LEESBURG, Va., May 22, 2023 /PRNewswire/ -- Quantum Computing Inc. ("QCI" or the "Company") (NASDAQ: QUBT), the first-to-market full-stack photonic-based
About this update from Quantum Computing Inc.
[{"type":"text","content":"LEESBURG, Va., May 22, 2023 /PRNewswire/ -- Quantum Computing Inc. (\"QCI\" or the \"Company\") (NASDAQ: QUBT), the first-to-market full-stack photonic-based quantum computing and solutions company, today announced that its Board of Directors has unanimously approved the signing of a non-binding Letter of Intent (LOI) to acquire up to 100% of the AI firm, millionways, creator of the world's first emotionally-intelligent AI platform, pending the completion of due diligence by independent third party valuation and fairness opinion firms. The LOI follows the teaming and combining of millionways' AI sensing algorithms with QCI's quantum photonics computing power, including substantive progress made since the Company's initial testing engagement announced in April 2023.\n\n \n \n \n \n \n \n\n \nBased in New York City, millionways is a leader in the development of AI algorithms used to effectively provide next-gen feedback to users on their emotional state and personality insights. Millionways' advanced emotionally-intelligent AI platform uniquely combines analysis and matchmaking algorithms based upon various forms of user-generated text or audio-to-text data with at least 500 words. The technology offers quick-turnaround analysis. Unlike other machine learning platforms such as ChatGPT, Alexa, or Siri, the millionways proprietary methodology and algorithms make behavorial predictions based on psychological patterns driven by underlying emotions. The methodology, known as Personality Systems Interactive (PSI) theory, is a recognized and validated model for studying the dynamics of personality development and emotional state. The millionways AI model delivers human behavior personality assessments that have clear applications in making the most informed decisions in healthcare, hiring, dating, customer relations, and general applications where social interactions drive behavorial outcomes.\nOver the past year, QCI has built and tested multiple hybrid AI hardware systems using photonics and quantum mechanics to boost machine learning efficiency, reduce the power consumption, and significantly speed up the training. Those systems have demonstrated substantial advantages over existing digital electronic hardware for many AI applications. Upon those successes, the QCI near-term strategy includes (1) offering laptop/desktop-size devices f...