PRESS RELEASE — As the number of electric vehicles grows, the placement of electric vehicle charging stations will become a major optimization challenge. Due to the rapid adoption of electric vehicles, there is a need for more charging stations and even to convert existing gas stations to electric charging stations.
Novel Quantum Algorithm
Artificial Brain, a quantum computing company that is developing hybrid quantum-classical algorithms to solve complex business problems in the fields of Energy, Aviation, Finance, and Climate change has announced its success in developing a novel algorithm that helps customers to identify optimal locations for placing electric vehicle charging stations by using quantum computers.
The proposed algorithm solves this problem by considering the point of interest (POI) and already existing electric charging locations and then optimally placing new charging points to cover as many people as possible.
This novel quantum algorithm returns result from an actual quantum computer in less than 3 seconds for 8543811434435330 (8.5 * 10^15) combinations.
Demo: http://tinyurl.com/EV-Quantum-Demo
Novel Quantum + Genetic Algorithm Framework
Artificial Brain has also created a novel framework by combining quantum computing and genetic algorithms that can provide better results (as high as 40%) than vanilla quantum computing for specific use cases such as EV location optimization, etc.
Research paper: https://tinyurl.com/EV-Quantum-Paper
Future Developments
Artificial Brain plans to modify this novel quantum algorithm to find optimal locations for wind and solar farms, as well as for other sustainability use cases.
For more market insights, check out our latest quantum computing news here.
