CLASSIQ, NTT DATA Collaborate on Quantum Algorithm Design for Financial Modeling

Global Digital Business, IT Services Leader Employs Classiq Quantum Algorithm Design Platform

TEL AVIV, Israel--(BUSINESS WIRE)--Classiq, which provides a breakthrough Quantum Algorithm Design platform, today announced that it is working with NTT DATA to implement novel credit risk analysis algorithms using quantum computers. Credit risk analysis exists to determine the creditworthiness of borrowers or vendors to quantify and limit the risk of loss to the lender.

“NTT DATA is looking forward to collaborating with Classiq,” said Shunichi Amemiya, Head of Research and Development HQ, NTT DATA. “We are interested in applying quantum computer technology to financial engineering and believe that the need to compute complex business models will increase in the future. Classiq’s platform enables us to effectively generate and run quantum algorithms for the issues in applying to our supposed use case.”

Classiq’s unique platform will enable NTT DATA to capture, synthesize, analyze and optimize quantum algorithms that scale. This will allow NTT DATA, a global digital business, and IT services leader, to implement novel credit risk analysis algorithms in a way that is hardware-independent and not limited by historical approaches to creating quantum algorithms.

“Sophisticated algorithms typically require a greater number of qubits,” said Nir Minerbi, CEO, Classiq. “The Classiq Quantum Algorithm Design platform is the best way to generate intricate quantum circuits with ease without resorting to the process of manual, tedious gate-level programming.”

About NTT DATA

NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, digital & IT modernization and managed services. NTT DATA enables them, as well as society, to move confidently into the digital future. We are committed to our clients' long-term success and combine global reach with local client attention to serve them in over 50 countries around the globe. Visit us at NTTDATA.com.

About Classiq

Quantum is disrupting computing. Classiq’s Quantum Algorithm Design platform is revolutionizing quantum software development. Forward-thinking companies use our platform to solve real-world problems with quantum circuits that could not be created otherwise. Our patented breakthrough technology automatically transforms high-level functional models into optimized quantum circuits for a wide range of back-end systems, turning months into minutes of work and making it possible to harness the true power of today’s and tomorrow’s computers. To learn more, follow Classiq on LinkedIn, Twitter or YouTube or visit www.classiq.io.