😌 Solace for Quantum
Michelle Simmons revealed at SXSW that her company Silicon Quantum Computing has notched some wins this year. It's not the only local quantum startup to have done so.
Seven years after being founded, and 13 months after being valued at just under $200 million, Silicon Quantum Computing (SQC) has gained that crucial ingredient to business success: customers.
During an engrossing keynote on Tuesday at SXSW Sydney, SQC founder Michelle Simmons revealed that two of its investors have turned into buyers: Commonwealth Bank and Telstra. Alongside TransportNSW, they round out the outfit’s first batch of customers.
“Our first commercial product we thought was going to be 2028, we’re bringing it out this year,” said Simmons.
The trio is trialling SQC's quantum-enhanced machine learning, which CommBank is using for scam detection and Telstra to monitor network performance. Even the basic quantum assistance that today's technology can offer improves the accuracy of machine learning pattern detection by up to 10%, she said. The startup is also working to get basic quantum computers in the hands of customers soon.
