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Axyon AINov 6, 2023 11:40:12 AM

Axyon AI Secures TOP European Grants for Pioneering in Quantum Computing technology and AI

Axyon AI, the fintech company specialising in AI and deep learning predictive solutions for the Asset Management industry, has won two grants recognising the value of its research and the ongoing development of its technology. 

In particular, Axyon AI has secured the first grant to apply its AI-based financial modelling engine to Quantum computing. It is particularly important because now research and development is moving from Quantum computing development to applications that can use Quantum computing itself. 

The company has been granted this funding from ELISE, a network of artificial intelligence research hubs working in cooperation with ELLIS (the European Laboratory for Learning and Intelligent Systems). The organisation recognised Axyon AI as one of the best Artificial Intelligence SMEs in Europe for its project on Quantum and physics-based Machine Learning (ML).  

The collaboration with ELLIS will allow the company to harness the power of Quantum computing technology to further improve one of the crucial phases of Axyon AI’s model-building pipeline. With the immense computational power of quantum computing, Axyon AI will be able to explore the universe of available models and identify those with the best performance in the ensemble learning phase.

Currently, AI/ML model ensembling on High Performance Computing (HPC) infrastructure is limited to evaluating just a fraction of potential models. Quantum computing changes the game by scrutinising each model comprehensively. While traditional AI/ML techniques are resource-intensive, by constraining us to a select few, Quantum computing broadens the horizon. By harnessing this potential, Axyon AI aims to craft an even more robust ensemble, propelling its performance to unparalleled heights, and making the fintech one of the few AI-solution providers exploring the power of quantum computing technology for investing.

This year, Axyon AI was also selected as a winner of the prestigious Research and Experimental Development Projects grant, awarded to local enterprises by the Emilia-Romagna Region. This second recognition will enable Axyon AI to undertake cutting-edge industrial AI research and experimental development projects.

Axyon AI’s ambitious project, in collaboration with the University of Modena and Reggio Emilia (UNIMORE), will focus on integrating and enhancing its Machine Learning and Deep Learning models to optimise the investment strategies Axyon AI offers to its clients.

Daniele Grassi, CEO and Co-Founder of Axyon AI, said:

“These two recognitions highlight our ongoing commitment to innovation and technological research. It's an important milestone for us to be recognised for our dedication to AI research. We stand among a selected group of AI solutions suppliers to bring a concrete Quantum computing application to the investment management sector. With Quantum computing's unprecedented computational capabilities, we intend to redefine the efficiency and efficacy of AI-based model strategies even more. But, this is not just about innovation for its own sake; it's about setting new industry standards, offering unparalleled value to our clients and remaining at the forefront of the AI era.”