Toronto, Canada, May 11, 2020 --(PR.com
)-- CogniFrame, based in Toronto has built a "Financial Services Operating Layer" that sits on top of Quantum Cloud to solve complex optimization and simulation type problems. Its focus is Quantum Computing Applications and projects include several large Global Financial Institutions. It is partnered with leading quantum hardware providers.
“We have architected our framework to solve problems as a Pure Quantum, Quantum Hybrid or as Quantum Inspired implementation depending on the nature and scale of the problem,” said Vish R, CEO and Founder of CogniFrame. “There is a lot of hype around Quantum, but our goal is to focus on what is feasible today and help institutions improve outcomes,” he continued.
The Company’s focus is on solving NP Hard, intractable and computationally intensive optimization and simulation problems. Its solutions are based on research experiments and pilots with live data. CogniFrame uses a combination of Machine Learning techniques, Risk Modeling and proprietary problem reformulation and pre-processing combined with Quantum to deliver solutions that are Pure Quantum, Hybrid Quantum or Quantum Inspired.
A number of use cases are being tested spanning a wide spectrum of problems and large addressable markets. The company expects to showcase commercial implementations later this year and is in advanced discussions with a number of leading institutions.
CogniFrame was part of the Creative Destruction Lab incubation program (Quantum Stream) at the University of Toronto (2018-19) and is a founding member of Quantum Industry Canada.