  We discuss adiabatic spectra and dynamics of the quantum, i.e. transverse
field, Hopfield model with dilute memories (the number of stored patterns $p <
log_2 N$, where $N$ is the number of qubits). At some critical transverse field
the model undergoes the quantum phase transition from the ordered to the
paramagnetic state. The corresponding critical exponents are calculated and
used to determine efficiency of quantum annealing protocols. We also discuss
implications of these results for the quantum annealing of generic spin glass
models.
