Agnostiq Chooses Xanadu's Pennylane as a Base for Software that Addresses Financial Problems

Agnostiq, a Canadian quantum software startup, will build software on top of Xanadu's Pennylane that solves various financial problems such as portfolio optimization, derivatives pricing, and currency arbitrage. Pennylane software is a quantum machine learning library that supports a very wide variety of the different hardware platforms that are currently available. By leveraging this software Agnostiq will be able to accelerate the availability of its solutions since it can concentrate its resources more on the end applications rather than the fundamental algorithms that are common with quantum machine learning and variational quantum computing. In addition, it provides more flexibility for Agnostiq's customers in choosing which hardware backend to use, including D-Wave and other quantum-inspired hardware, due to the wide hardware support built into Pennylane. The software is in a private beta stage with select clients only right now with wider availability expected in the future. Additional information about this software can be found in a press release issued by Xanadu that's available here.

November 14, 2021