Archer Materials Limited (ASX:AXE)

Archer Materials Limited has successfully completed the next stage of its Quantum Machine Learning (QML) fraud detection project. The project has achieved significant milestones, including the successful testing and benchmarking of a quantum neural network (QNN) fraud detection model. The model was tested using a substantial financial fraud dataset and demonstrated competitive performance with classical models, showing a low false positive rate and effective identification of fraudulent transactions. The QNN was also validated on real quantum hardware, the IQM Garnet superconducting quantum computer, accessed through AWS Braket. This achievement reduces technical uncertainty and lays a foundation for future phases aimed at establishing quantum advantage in fraud detection applications. Archer's work is aligned with global efforts by financial institutions and quantum technology companies exploring similar QML applications.