by Angela Guess

A recent press release states, “Accenture has made a minority investment in 1QBit, a leading quantum computing firm based in Vancouver, British Columbia, through Accenture Ventures. The move will help Accenture expand its capabilities in quantum computing analytics, heralding a new era of intelligence for businesses and organizations. Terms of the transaction were not disclosed. In addition, the two companies have formed a strategic alliance under which Accenture will be 1QBit’s preferred systems integrator. Accenture has also been granted a license to use the 1QBit platform for demonstration, training, and the development and testing of Accenture tools and assets. Accenture will leverage its alliance with 1QBit to develop a quantum-inspired analytics capability through Accenture Analytics and scale pilot opportunities identified through the Accenture Labs.”

The release continues, “Quantum-inspired analytics harnesses the power and properties of quantum computing to tackle business problems orders of magnitude faster than traditional computing. 1QBit builds quantum and quantum-inspired software to help organizations solve their most demanding computational challenges. Its interdisciplinary team comprises mathematicians, physicists, chemists, software developers and quantum computing experts who develop novel solutions to problems, from research through to commercial application development. ‘By strengthening our relationship with 1QBit, Accenture has a significant opportunity to extend our first-mover advantage in applying quantum computing to create breakthrough innovations that help clients solve their most complex business challenges,’ said Paul Daugherty, Accenture’s chief technology & innovation officer. ‘The potential applications and benefits of quantum-inspired analytics is generating strong interest across numerous industries including financial services, life sciences, and oil & gas’.”

Read more at Business Wire.

Photo credit: 1QBit