D-Wave Quantum and South Korean technology services company LG CNS announced a nonbinding memorandum of understanding on October 28 to develop quantum-computing applications for business optimization.
The companies said the collaboration would combine D-Wave's annealing quantum technology with LG CNS's mathematical optimization and systems-integration expertise. Manufacturing, telecommunications, finance and retail are among the intended markets.
The agreement was announced at D-Wave's Qubits Asia conference in Seoul. ChosunBiz independently reported the executives' joint appearance and their plans to address production planning, resource allocation and other corporate tasks.
The companies intend to move applications from demonstrations toward production and pursue joint marketing opportunities. The memorandum remains nonbinding; the announcement does not establish completed customer deployments or guaranteed commercial results from the collaboration.
At the Seoul briefing, LG CNS Chief Executive Hyun Shin-Gyoon described dividing problems between classical and quantum computers and combining their results, ChosunBiz reported. He said suitability needs to be tested because quantum computing does not offer an advantage for every optimization problem.
Sources: D-Wave company release distributed by Business Wire, reproduced by StockTitan; ChosunBiz.