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Corporate information IonQ and Hyundai Motor Expand Partnership to Use Quantum Computing for Object Detection
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COLLEGE PARK, MD / SEOUL, April 19, 2022 – IonQ (NYSE: IONQ), a leader in quantum computing, and Hyundai Motor Company today announced a new project designed to apply quantum machine learning to image classification and 3D object detection for future mobilities.
Image classification and 3D object detection are foundational steps toward the next generation of mobilities, including autonomous vehicles. Together, IonQ and Hyundai will look to improve computational functionality through more efficient machine learning on quantum computers, as they can process enormous amounts of data faster and more accurately than classical systems.
Using a breakthrough in encoding images into quantum states, IonQ is already well underway in classifying 43 types of road signs using IonQ’s quantum processors. The next phase will see the two companies apply IonQ’s machine learning data to Hyundai’s test environment and simulate various real-world scenarios.
“We are excited to expand our existing relationship with Hyundai Motor to focus on another key aspect of next-generation mobility,” said Peter Chapman, President and CEO of IonQ. “From partnering on battery research for electric vehicles to image classification and object detection research for automated driving, we expect to see quantum computers become an even more integral part in developing novel transportation solutions.”
As part of this project, IonQ and Hyundai will look to develop quantum techniques for the broad task of 3D object detection, expanding the current work on recognizing road signs to include other objects like pedestrians or cyclists. Running object recognition tasks on IonQ’s latest quantum computer, IonQ Aria, should enable more efficient processing with lower costs, leading to the development of safer, more intelligent mobilities in the future. With 20 algorithmic qubits (#AQ), IonQ Aria is the industry’s most powerful quantum computer based on standard application-oriented industry benchmarks.
Today’s news also marks the latest initiative between IonQ and Hyundai Motor, following a January announcement that the two companies had partnered to use quantum computers in improving performance, cost and safety of lithium batteries for EVs.
About IonQ
JIonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and deployment. IonQ’s latest generation quantum computer, IonQ Aria, is the world’s most powerful quantum computer, and IonQ has defined what it believes is the best path forward to scale.
IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.ionq.com.
IonQ Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These statements include those related to the anticipated benefits of the partnership, including Quantum-powered machine learning solution’s expected ability to significantly enhance the quality of image classification and object recognition and the potential of IonQ and Hyundai’s research to lead to new types of algorithms that save time and cost in the years to come, and lead to safer and smarter vehicles; IonQ’s ability to further develop and advance its quantum computers and achieve scale; IonQ’s market opportunity and anticipated growth; and the commercial benefits to customers of using quantum computing solutions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: market adoption of quantum computing solutions and IonQ’s products, services and solutions; the ability of IonQ to protect its intellectual property; changes in the competitive industries in which IonQ operates; changes in laws and regulations affecting IonQ’s business; IonQ’s ability to implement its business plans, forecasts and other expectations, and identify and realize additional partnerships and opportunities; and the risk of downturns in the market and the technology industry including, but not limited to, as a result of the COVID-19 pandemic. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of IonQ’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.
