Matrix Multiplication

Think about the matrix multiplication problem. It is defined as A(mxn) X B(nxp) = C(mxp). This requires O(nxmxp) number of additions and multiplications. My question is is it somehow possible to have an approximate resultant matrix with lesser number of operations? I mean the resultant matrix C need not be an exact one; elements of C may vary slightly from actual element. Can you work with this?

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