IonQ and Hyundai Motor Company Expand Partnership in Quantum Computing, Continuing Pursuit of Automotive Innovation

  • Latest effort aims to analyze 3D point clouds with quantum computers, enabling smarter and more accurate object detection in future vehicles

  • The two companies will also exploit the chemical algorithms for chemical simulations of metal catalysts

COLLEGE PARK, Maryland, December 06, 2022–(BUSINESS WIRE)–IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced the next steps in its partnership with Hyundai Motor Company to develop the vehicles of the future. Hyundai Motor Company and IonQ will work to develop, on IonQ’s quantum computers, quantum computer vision algorithms to detect objects on three-dimensional data from autonomous vehicles. In addition, both companies will use IonQ’s state-of-the-art quantum computers to simulate the electrochemical reactions of various metal catalysts. These new projects build on the previous work of both companies and reinforce the role of quantum computers in the development of smart and green vehicles of the future.

In the race to develop reliable and autonomous vehicles of the future, Hyundai is at the forefront. As part of ongoing research between IonQ and Hyundai, both companies are applying quantum machine learning to image processing, during which images, such as road signs, are encoded in a quantum state for object classification and detection. The initial success of these early projects led Hyundai to pursue additional joint research with IonQ on a number of new techniques. Of interest is the analysis of spatial and environmental data from lidar and other sensors, which could improve vehicles’ understanding of the nature and location of objects, people and the environment around them. especially in this new venture. The quantum machine learning techniques studied by IonQ have been shown to be able to learn faster, be better at recognizing edge cases, generalize better, learn from low-resolution or noisy data, and then capture complex correlations with a much lower number of parameters. These profound technical advantages can ultimately lead to faster, safer and more accurate decisions without user intervention.

In addition, Hyundai’s previous efforts to study lithium compounds and the chemical reactions involved in battery chemistry led the group to broaden its current field of action and to explore new chemical reactions of metal catalysts for the vehicles of the future. The collective knowledge gained from quantum simulations will enable Hyundai engineers to develop more efficient electric vehicles at lower costs.

“IonQ’s continued work with Hyundai both reinforces our belief that quantum technology will drive the next phase of innovations throughout the automotive industry,” said Jungsang Kim, co-founder and CTO of IonQ. “Autonomous vehicles are still in their infancy, but the algorithms derived from quantum technology that we are testing today have the potential to shape the marketability, efficiency and safety of these systems.”

Today’s plans closely follow the recent announcement from IonQ, which got a $13.4 million contract to supply the United States Air Force Research Laboratory (AFRL) access to its trapped ion systems for research on quantum computing hardware and for the development of quantum algorithms and applications. Other business partnerships have materialized in recent months, including with Airbus, GE Research and Goldman Sachs. Additionally, IonQ’s Aria system is the most powerful commercial quantum system on the market, with 25 algorithmic qubits.

For additional information on IonQ’s recent commercial or research partnerships, please see Third Quarter 2022 Financial Results advertisement on November 14, 2022.

About IonQ

IonQ, Inc. is a quantum computing leader with a proven track record of innovation and deployment. IonQ’s current-generation quantum computer, IonQ Forte, is the latest in a series of state-of-the-art systems, including IonQ Aria, an industry-leading 23-qubit algorithmic system. Along with record-breaking performance, IonQ has defined what it believes to be the best path forward for large-scale development.

IonQ is the only company whose quantum systems are available in the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was created in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To find out more, visit the website 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 Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking terms. Statements that are not historical in nature, including the words “anticipates”, “expects”, “suggests”, “intends”, “considers”, “intends”, “estimates”, “targets”, ” plans, “should,” “could,” “is likely,” “will,” “anticipates,” and similar expressions are intended to identify forward-looking statements. These statements include those relating to the expected benefits of the partnership, including the anticipated ability of the quantum technology-powered machine learning solution to develop machine vision algorithms on IonQ’s quantum computers and to simulate electrochemical reactions of various metal catalysts. ; IonQ’s ability to further develop and evolve its quantum computers and achieve scale; the market opportunity and anticipated growth of IonQ; and the business benefits for 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 are therefore subject to risks and uncertainties. Many factors could cause actual future events to differ materially from those expressed in the forward-looking statements contained in this press release, including, but not limited to: market adoption of quantum computing solutions and products , services and solutions from IonQ; IonQ’s ability to protect its intellectual property; developments 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, as well as to identify and complete additional opportunities and partnerships; as well as the risk of market and technology sector downturns, including but not limited to, as a result of the COVID-19 pandemic. This list of factors is not exhaustive. You are urged to carefully consider the above factors, as well as the other risks and uncertainties described in the “Risk Factors” section of IonQ’s Annual Report filed on Form 10-K for the year ended December 31, 2021, as well as than in other documents filed from time to time by IonQ with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events or 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 place undue reliance on any forward-looking statements, and IonQ undertakes no obligation to update or modify these forward-looking statements and does not intend to update or revise them, whether as a result of new information. , future events or for any other reason. IonQ cannot guarantee that it will meet its expectations.

The text of the press release resulting from a translation should in no way be considered official. The only authentic version of the press release is that of the press release in its original language. The translation will always have to be compared with the source text, which will set a precedent.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20221206005310/en/

contacts

IonQ Media Contact:
Tyler Ogoshi
press@ionq.com

Investor Contact, IonQ:
investors@ionq.com

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IonQ and Hyundai Motor Company Expand Partnership in Quantum Computing, Continuing Pursuit of Automotive Innovation


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