ZenaTech, Inc. (NASDAQ:ZENA) shares are trading higher in the premarket session on Thursday.
The Toronto-based company launched Sky Traffic, leveraging quantum computing through Amazon Web Services (AWS) and drones to monitor traffic. The drones will offer real-time data to government agencies as well as drivers.
The goal is to improve traffic flow, routing, signal management, public safety, and government services by processing large datasets.
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Sky Traffic was developed after ZenaTech received interest from a government client, eager to enhance traffic monitoring with cutting-edge technology.
The project will accelerate data processing, enabling better decision-making and automation in real time. ZenaTech also plans to integrate its drones into weather radar applications, enhancing the precision of weather forecasting, especially in predicting extreme weather events.
"Integrating quantum computing with AI-driven drones will revolutionize how we analyze and respond to complex data, enabling faster, more accurate decision-making and unlocking new possibilities in automation, efficiency, and real-time problem-solving," CEO Shaun Passley said.
Meanwhile, quantum stocks have rallied in recent weeks as excitement around the potential of quantum computing builds.
On Tuesday, Google unveiled a new quantum computing chip called "Willow," marking a 30-year breakthrough in quantum error correction.
Google said in a blog post that the quantum chip performed a standard benchmark computation in under five minutes. That same computation would take one of today's fastest supercomputers 10 septillion years to complete.
Quantum computers are expected to be able to process much bigger volumes of data than traditional computers by using qubits instead of bits, which are limited to ones and zeroes. Being able to process higher volumes of data could potentially lead to more breakthroughs in critical research areas, which has sparked excitement about the potential of quantum companies.
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