Brightcom Group unveils ‘Brightcom-Qulabz Innovation Labs'; stock tanks ~4%

21 Sept 2022 , 11:55 AM

Brightcom Group Ltd., the industry leader in AdTech and Digital Marketing, has announced the establishment of a Quantum Computing Innovation Lab in conjunction with Qulabz Inc.

Brightcom anticipates that this project will propel company growth in the next years by greatly increasing its technological advantage. According to the 'Boston Consulting Group,' quantum computing has the potential to generate $850 billion in value across sectors.

This includes a $220 billion potential for Optimization and Machine Learning. Further, a $330 billion potential for Simulation and $80 billion for cryptography.

This is in continuation of the company’s announcement in August 2022, to foray into the Quantum Computing domain.

On Tuesday, the company announced the setting up of a Quantum Computing Innovation Lab in collaboration with Qulabz with facilities that enable cutting-edge experimentation in this domain.

The company wants to establish a Quantum Lab, branded and owned jointly as 'Brightcom Qulabz Innovation Labs’. This lab will enable the formation of a Quantum AI team with technical and operational support to develop applied AI and Quantum AI solutions and products.

The aforementioned 'Brightcom Qulabz Innovation Labs' will encompass lab interiors, clean rooms, optical tables, and other lab equipment needed to perform research in Quantum Computing applications.

It is a step forward in Brightcom Group's technical innovation. With Nixon Patel on Brightcom Group's advisory board, this joint initiative will be a jump-start for the company's Quantum Computing endeavour.

At around 11.54 AM, Brightcom Group was trading at Rs33.85 down by 4.11% from its previous closing of Rs35.30 on the BSE. The scrip opened at Rs35.35 and touched intraday high and low of Rs35.90 and Rs33.80 respectively.

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