Expert outlines impact of quantum computing | UNC-Chapel Hill – The University of North Carolina at Chapel Hill

A new type of computer is coming one that can solve problems much faster and much better than todays models. Quantum computing, powered by quantum mechanics, represents a foundational shift in computing.

Read more about the technology behind quantum computers.

Eric Ghysels, the Edward Bernstein Distinguished Professor of Economics and Professor of Finance, researches the impact quantum computing could have on finance at the UNC Kenan-Flagler Business School.

Quantum computing is one of the emerging technologies for dealing with all sorts of practical problems facing financial institutions, he said. It is a paradigm shift compared to classical computing, and it has the promise to affect many issues of decision-making in the financial sector.

Ghysels answers questions about quantum computing and how it can impact businesses and the financial sector.

Six years ago I read that NC State had established the very first Q Hub, as it was called, which is quantum hardware sponsored or supported by IBM, meaning that we could actually work with real hardware. That drew my curiosity, and in 2019 I went to the first Q Network meetings organized by IBM in New York. Ironically, the pandemic helped in that we all took classes online while sitting home.

Encryption is based on algorithms and factorization problems that cannot be solved easily within a reasonable amount of time, and were talking about 70,000 years just inconceivable to break a code. Quantum computers will easily break those codes that underlie encryption. That means that all the traffic that we consider to be safe on the internet and all the transactions that we think are safe through encryption are jeopardized.

Most financial institutions know that and are getting quantum ready. Thats the most obvious thing, but thats not only for financial institutions. Thats true for all the other things that go through internet connections.

There are other things, of course: the speed at which we trade, the speed at which we can derive formulas for portfolio allocation, pricing of derivative securities all are going to be affected by the computational speedups.

This started around 2019. Initially, it was organized by the Rethinc Labs, of which I am the research director of at the Kenan Institute. This was parallel to a series that was joined between NC State and Duke. They were organizing quantum-related webinars, except they did not cover financial sector applications. We now have a joint Duke, NC State and UNC webinar.

Ill give you two projects Im working on. One is solving what we call asset-pricing problems. How do you price a particular asset that has a particular payoff profile? Thats a very foundational question in finance. You buy a security or real estate property how do you price it? Ive been working on research on the potential exponential speedup of computing solutions to asset-pricing problems.

The other project involves combinatorial optimization, which requires matching of bids and asks people who want to buy versus people who want to sell. You want to figure out how you combine these different sides of the market. Quantum computers are good at solving combinatorial optimization problems and are better than classical computers.

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Expert outlines impact of quantum computing | UNC-Chapel Hill - The University of North Carolina at Chapel Hill

Apple future-proofing iMessage to protect against the scary future of quantum computing hacking – TechRadar

iMessage is set to receive a substantial security upgrade as Apple plans to introduce a post-quantum cryptographic protocol called PQ3.

Those are some five-dollar words, but what do they mean? In a nutshell, PQ3 is a new type of encryption tech that can locally generate encryption keys for an iMessage text on an iPhone. The text is sent to Apple servers where a fresh key is made and sent back to the device. So if a hacker somehow gets their hands on one of these messages, they cant use its key to gain access to your conversation. The locks have been changed, so to speak. Thats the gist of PQ3. A post on Apples Security Research Blog goes into way more detail. For the sake of brevity, well keep things short. But the breakdown talks about the cryptography behind everything, how rekeying works, the padding process, as well as the extensive reviews done by cybersecurity experts.

The reason Apple is doing all this is to protect its service from future threats, namely sophisticated quantum [computing] attacks. Such attacks arent exactly widespread in 2024 as computers capable of bypassing modern high-end cryptography techniques dont exist yet. Security experts have sounded the alarm, warning companies around the world of an event known as "Q-Day". This is where a quantum computer powerful enough to crack through the internet's encryption systems and security is built. And Apple has decided to listen.

The average hacker probably wont have access to this type of technology, but it may be found in the hands of a foreign adversary. Apple is particularly worried about an attack scenario called Harvest Now, Decrypt Later (also known as Store Now, Decrypt Later) which sees hackers collect as much encrypted data as possible, then sit on this treasure trove of information until the day comes where quantum computers are strong enough to break through the protection.

Support for PQ3 is scheduled to launch with the public releases of iOS 17.4, iPadOS 17.4, macOS 14.4, and watchOS 10.4. Apple is covering all of its bases here. The company claims the boosted protection is available right now on the current developer and beta builds, however, that may not be the case. We havent seen people talking about receiving PQ3 on social media or reports from other publications detailing their experiences apart from a brief mention by MacRumors. Its possible the patch could roll out to more people soon.

When PQ3 does officially launch, it could give iMessage a huge edge over other messaging platforms. Apple, in its blog post, boasts its service has Level 3 security because it has PQC (Post-Quantum Cryptography) protection. To put that into perspective, WhatsApp is Level 1 as it has end-to-end encryption but is vulnerable to quantum computing attacks. Signal is Level 2 because it has PQC although it lacks the key refresh mentioned earlier. There are plans to further improve PQ3 by implementing something called PQC authentication.

We reached out to Apple asking what this means and when people can expect the release of PQ3. This story will be updated at a later time.

In the meantime, check out TechRadar's roundup of the best iPhone for 2024.

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Apple future-proofing iMessage to protect against the scary future of quantum computing hacking - TechRadar

IONQ Stock Outlook: Why This Quantum Computing Play Could Be a Long-Term Winner – InvestorPlace

Traditional computers use binary bits, but quantum computers leverage qubits, enabling faster processing. Conventional semiconductors operate on a binary system, like Nvidia H100s, where each transistor represents a 1 or 0.This will become a central part of this IONQ stock outlook later on.

Quantum computing, however, operates on a different principle, utilizing quantum bits (qubits) that can exist in multiple states simultaneously. This allows quantum systems to perform exponentially more calculations than classical systems.

IonQs (NYSE:IONQ) recently achieved a significant milestone in quantum technology, hinting at its potential to revolutionize computing. Its trapped ion tech minimizes QPU size, enhancing power and reducing costs and errors.

As IonQ emerges as a top contender in the quantum computing stocks arena, it has marked a remarkable 117% surge in share price over the past year. Despite a modest 10% gain year-to-date, it presents a suitable entry point for investors.

IonQ, a quantum computing leader, unveiled the USs inaugural quantum computing manufacturing hub in Bothell, WA. The expanded facility accommodates research, development, and production.

The company inaugurated the first US-based factory producing replicable quantum computers for client data centers, enhancing technology innovation and manufacturing in the Pacific Northwest. CEO Peter Chapman highlighted IonQs commitment to commercializing quantum computing.

Sen. Maria Cantwell was also there to show her unending support for IonQ during the ribbon-cutting ceremony. She noted the companys hard work and dedication in innovating quantum computing. She emphasized quantum computings transformative potential in various fields. This is central to this IONQ stock outlook.

IonQ continues its streak of success, achieving milestones like #AQ35 ahead of schedule and expanding partnerships with Amazon Braket and QuantumBasel. It collaborates with global giants and secures projects with the US Air Force Research Lab.

In other news, IonQ renews its partnership with SKKU in South Korea, offering continued access to IonQs quantum systems. This fosters innovation and strengthens South Koreas position in quantum computing.

SKKU Professor Yonuk Chong expressed satisfaction with IonQs research outcomes and commitment to future collaboration. South Korea aims to lead in quantum computing, supported by IonQs tangible contributions. This announcement aligns with IonQs broader efforts in South Korea, including partnerships with Hyundai Motors and the government.

In Q3 2023, IonQ achieved significant year-over-year revenue growth of 122%, signaling strong performance and technological advancements. It also showed several bookings totaling to $26.3 million. This surpassed expectations and demonstrated how in demand IonQ is.

When 2023 closed, IONQ achieved its target to $100 million of cumulative bookings since 2021. The company also altered its revenue forecast to $22 million, showing its confidence in achieving such targets through contract milestones.

Moreover, it raised its 2023 booking guidance to $60-63 million, reflecting sustained demand. IONQ introduced Forte Enterprise and Tempo systems to target diverse market needs, emphasizing compactness and compatibility with existing infrastructure.

Milestones achieved, such as reaching AQ 29, underscore IONQs forefront position in trapped-ion quantum computing.

IonQs major clients comprise research labs and government bodies like the U.S. Air Force Research Lab and QuantumBasel in Switzerland. Collaborations with Seoul National University in South Korea indicate expansion into academia, and these tie ups suggest theres some powerful money and minds behind IonQ and its innovative goals.

While the roadmap to profitability may take years to play out, I do think IonQ remains intriguing as a speculative buy. I wouldnt recommend any investor put all their chips behind this stock. Its far too risky a bet, and should be lumped in with other high-potential growth stocks in the riskier end of a portfolios barbell strategy.

But for those seeking the next big thing beyond AI, quantum computing is a space to consider for long-term growth. Right now, IonQ looks like a company that could be a winner in this space, though time will tell. This concludes my IONQ stock outlook.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Chris MacDonalds love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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IONQ Stock Outlook: Why This Quantum Computing Play Could Be a Long-Term Winner - InvestorPlace

Apple Says It Has Rebuilt The iMessage Cryptographic Protocol From ‘Ground Up’ To Thwart Quantum Computing Threat – TradingView

In a bid to fortify its messaging platform against potential quantum computing decryption,Apple Inc.AAPL has introduced a new security upgrade for iMessage.

What Happened: The new security protocol, dubbed PQ3, is a significant overhaul of the iMessage cryptographic protocol. This move is indicative of U.S. tech companies preparing for the potential impact of quantum computing on current encryption methods,reportedReuters.

The Cupertino, California-based tech giant asserts that its encryption algorithms are cutting-edge and have not been successfully breached. However, the emergence of quantum computers, which leveragethe properties of subatomic particles,have become a subject of concern for government officials and scientists.

See Also:Elon Musk Taunts OpenAI, Apples Animation, Nvidias Triumph, Arks Strategy Revamp And More: This Week In AI

"More than simply replacing an existing algorithm with a new one, we rebuilt the iMessage cryptographic protocol from the ground up," Apple stated in a blog post on Wednesday. "It will fully replace the existing protocol within all supported conversations this year."

Why It Matters: The development of quantum-resistant encryption is a crucial step for tech companies, as quantum computers could potentially render current encryption methods obsolete. This upgrade by Apple is a proactive measure to address the potential threat posed by quantum computing, the report noted.

Meanwhile, earlier this month, the EUs antitrust threat over Apples iMessage wasdismissed, with the commission ruling that it does not qualify as a gatekeeper service under the Digital Markets Act or DMA.

On the other hand, a recent report suggested that the Chinese government may haveinfluenced Apples decisionto introduce RCS support to iMessage in 2024. This move challenges previous assumptions that European pressure was the primary driver behind this decision.

Image Credits Shutterstock

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Disclaimer: This content was partially produced with the help ofBenzinga Neuroand was reviewed and published by Benzinga editors.

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Harvard Achieves Quantum Leap with New Matter Phase, Potentially Revolutionizing Computing – Hoodline

In a groundbreaking experiment, Harvard physicists have made an unprecedented leap in the world of quantum mechanics by successfully creating a new phase of matter, known as non-Abelian topological order. This novel form of matter has been pursued in theory but never achieved until now, with the experimental results published in the prestigious journal Nature. The research, done in collaboration with scientists at a quantum computIng firm Quantinuum, could pave the way for more stable quantum computing technology.

Ashvin Vishwanath, the Harvards George Vasmer Leverett Professor of Physics, and his team, including former student Nat Tantivasadakarn and postdoctoral fellow Ruben Verresen, utilized Quantinuum's latest H2 processor to engineer and control a set of exotic particles called non-Abelian anyons. These particles exhibit characteristics distinct from the familiar bosons and fermions that make up our 3D world and only exist in a theoretical 2D plane. Unlike everyday particles, anyons carry special memory capabilities, making them potentially ideal candidates for qubits in future quantum computers.

The fascination with non-Abelian anyons stems from their theoretical potential in computing. Unlike the fragile and error-prone quantum bits, or qubits, used in current quantum processing, anyons are considerably more stable because of their topological nature, meaning they can be manipulated without losing their inherent properties. According to a Harvard Gazette report, "One very promising route to stable quantum computing is to use these kinds of exotic states of matter as the effective quantum bits and to do quantum computation with them," said Tantivasadakarn. Emphasizing how this could significantly reduce issues with noise in current systems.

To achieve this scientific milestone, Vishwanath's team manipulated a lattice containing 27 trapped ions, employing intricate measurement techniques to construct a quantum system that emulated the desired particles' properties. "Measurement is the most mysterious aspect of quantum mechanics, leading to famous paradoxes like Schrdingers cat and numerous philosophical debates," Vishwanath explained to the Harvard Gazette. His team's approach to quantum mechanics, now in its centennial year, showcases the power of theory when applied to tangible experiments, forging a bridge between historic quantum mechanics and recent particle physics advancements.

This research not only represents a significant stride in fundamental physics but also hints at a transformative shift in the computational landscape. Harvard's success in demonstrating the existence and control of non-Abelian anyons offers a tantalizing glimpse into a future where quantum computing could be exponentially more robust and efficient, potentially unlocking new capabilities in processing power, encryption, and much more.

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Harvard Achieves Quantum Leap with New Matter Phase, Potentially Revolutionizing Computing - Hoodline

The federal government wants more quantum research commercialised – as it eyes off a US supplier for its secretive … – Startup Daily

Quantum technologies are the future of made in Australia, federal industry minister Ed Husic said as he pushed for more quantum research commercialisation in Australia.

Husic made a speech at a Quantum Australia event on Wednesday morning, focusing on the federal governments National Quantum Strategy and efforts to make Australia a quantum powerhouse in the future.

Australias first quantum strategy wasunveiled in May last year, with a focus on research and development, supply chain, workforce, standards and equality.

The plan aims to cement Australias position as a world leader in quantum, which is forecast to create just under 20,000 jobs by 2045.

This strategy will serve as a north star for decision-making not just by us but by private and public capital, Husic said, and has a specific focus on sovereign capability in the quantum sector.

The National Quantum Strategy is about more than quantum technologies, Husic said in the speech.

It is about building things here. Believing that Australia can be more than a research destination, or a place where we just dig it and ship it.

In our quantum strategy is the seed of an idea that cynics roll their eyes at. That the future is happening here, not somewhere else. Quantum technologies are the future of made in Australia.

Our collective efforts as industry, researchers and governments see the world turning towards Australia for whats next.

Husic said he wants more of Australias world-leading quantum research to be commercialised locally, so the full benefits can be recognised by Australia.

We want companies choosing Australia as the destination that doesnt just seed brilliant ideas but has the resources to grow them here, he said.

The speech comes a week after Industry Department officialsconfirmed the existence of a secretive expression of interest processfor the government to procure a quantum computer, with aUS company rumoured to be the frontrunner.

The government approached more than 20 companies as part of this exploration process that started last August in order to explore the maturity of the market around quantum computing.

US-based firm PsiQuantum is believed to be the favoured candidate in this process. Rumours that an American company may be selected over a local quantum firm has created unrest within the Australian industry.

The MYEFO update late last yearallocated funding for the National Quantum Strategyin 2023-24, but this figure was kept secret due to commercial sensitivities.

Husic did not mention this secretive process in his speech, which focused on the local quantum sectors capability and potential.

Pointing to quantum being mentioned in the Treasurers budget speech last year, Husic said a number of government ministers are now advocates for the industry.

Australias quantum potential is being promoted at the highest levels of government, he said.

The Prime Minister regularly references it; the Defence Minister has talked about it. Were fast becoming a government of quantum experts.

Last year, governments across Australia invested an estimated $893 million in quantum.

The federal government recentlyopened applications for $18.5 million in grantsfor a group of industry and academic partners to operate the Australian Centre for Quantum Growth.

And last year quantum pioneer Professor Michelle Simmonswon the Prime Ministers 2023 Prize for Science.

Professor Simmons founded Silicon Quantum Computing based on her early research in quantum computing, and has been credited with world-first breakthroughs in the race to design and manufacture commercial-scale quantum computers.

Were a global pioneer in cutting-edge quantum research and have been for decades despite being on the other side of the world, the world knows our quantum pedigree, Husic said.

We want to crowd in all of this activity here in Australia.

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The federal government wants more quantum research commercialised - as it eyes off a US supplier for its secretive ... - Startup Daily

Illinois governor’s proposed $53B budget includes funds for migrants, quantum computing and schools – The Caledonian-Record

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Illinois governor's proposed $53B budget includes funds for migrants, quantum computing and schools - The Caledonian-Record

Illinois governor’s proposed $53B budget includes funds for migrants, quantum computing and schools – Bozeman Daily Chronicle

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Illinois governor's proposed $53B budget includes funds for migrants, quantum computing and schools - Bozeman Daily Chronicle

IonQ shows off its new quantum computer factory and already has plans to expand – GeekWire

IonQ says its 100,000-square-foot Bothell factory is the first dedicated quantum computer manufacturing facility in the U.S. (GeekWire Photo / Alan Boyle)

BOTHELL, Wash. IonQs quantum computer factory is still ramping up to full operation, but the company is already expanding its footprint by tens of thousands of square feet.

A year ago, when IonQ revealed its plans to create a new kind of research and manufacturing facility in the Seattle area, the idea was to use roughly 65,000 square feet of space on two floors of a three-story building in Bothell that once housed offices for AT&T Wireless.

Were happy to announce today weve taken the third floor, so we have the entire building now, IonQ CEO Peter Chapman said during a ribbon-cutting ceremony. So, a 50% increase in our footprint in one year. Now were up to about 100,000 square feet in the building.

IonQ considers its Bothell facility to be the first dedicated quantum computer manufacturing facility in the United States. The building will house the companys research and development team and also serve as IonQs second quantum data center, following in the footsteps of its Maryland HQ.

Chapman said it cost about $20 million to upgrade the buildings infrastructure for IonQs purposes.

We now have, in the Seattle area, about 80 people at IonQ, he said. A year ago, we had something less than that a handful. So, were growing quickly in the Seattle area. And I expect that in this next year, we will invest probably somewhere close to $80 million in the Seattle area, which will go to our promise of investing a billion dollars over the next 10 years.

Today marked the factorys official opening attended by VIPs including Sen. Maria Cantwell, D-Wash., who chairs the Senate Commerce, Science and Transportation Committee. But IonQs team started working at the Bothell facility weeks earlier.

In one of the buildings first-floor labs, a Forte Enterprise computer is being assembled for QuantumBasel, a Swiss tech hub. Its about the size of a drive-through espresso stand, with the quantum processing unit enclosed inside what appears to be a glass box at its center.

In another lab, engineers are working on two custom-built quantum computers that will be delivered to the Air Force Research Laboratory under the terms of a $25.5 million deal. And on the far end of the lab, researchers are working on ways to reduce the size of the vacuum enclosures in which quantum chips are sealed.

In contrast to classical computings binary one-or-zero approach, quantum processors work with different types of bits (qubits) that can represent different values simultaneously until the results are read out. Certain types of problems, ranging from network optimization to codebreaking, are thought to be more easily solvable using quantum algorithms.

Quantum computing has the potential to be a game-changer, helping us solve some of the biggest problems in the world, Cantwell said. To create new drugs to fight disease. To unlock new ways to produce and store energy. To develop fertilizer and improve food production.

Such applications may still be in their infancy, but there are signs that the infant is growing up fast. Chapman pointed to the potential for quantum machine learning.

Everything that we do with the customer shows that thats going to be a huge hit, Chapman told GeekWire in an interview. Things like being able to do quantum machine learning on sparse data we just cant do that using classical hardware. You need to have a much stronger signal than the data, and if its sparse, it just cant do it. Weve shown huge improvements in terms of the size of the data that you need to be able to create the model.

Some companies, including as Google, IBM and Microsoft, are developing quantum hardware thats based on superconducting circuits. IonQ is taking a different technological approach that relies on the quantum properties of trapped ions. Its Forte Enterprise computers use ytterbium ions, but its next-generation Tempo computer will get an upgrade to barium ions supplied by Pacific Northwest National Laboratory.

Engineers at the Bothell facility will manufacture Forte Enterprise as well as Tempo computers and researchers plan to lay the groundwork for a next-next-generation computer with even greater capability. IonQ measures processing power using a yardstick known as algorithmic qubits, or AQ. By that measure, the Forte Enterprise is capable of AQ35, the Tempo will bring that figure up to AQ64, and the yet-to-be-named, next-next-gen computer will target AQ256.

I think were the only company whos thinking about how the next generation needs to be half the cost of the previous generation, Chapman said. So, what this place is really about is getting to a point where we can use contract manufacturers to build subassemblies for us, and then we do final assembly downstairs. And these things are dirt-cheap I mean, in relative terms.

For years, IonQ has been partnering with three of the titans of cloud computing Microsoft Azure, Amazon Web Services and Google Cloud and Chapman said his company selected Bothell as the site for its factory in part because of the strong presence those companies have in the Seattle area. Its always good when youre close to your customers, he said.

IonQs Bothell factory is also close to the University of Washington, which is sharpening its focus on quantum information science and engineering through a program known as QuantumX. Pacific Northwest National Laboratory which is headquartered in Richland, Wash., and has a research center in Seattle adds yet another regional angle to the quantum equation.

In her remarks, Cantwell pointed with pride to the Northwests tech connections.

Our region is already known worldwide for our innovation and leadership, and this facility will continue to build on that, she said. We know that local software and cloud computing companies have changed the world. So it should come as no surprise that we are becoming the Quantum Valley, if you will, of the United States. Now, there may be a few regions that are going to fight us for that title, but were going to do everything we can to move forward on it.

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IonQ shows off its new quantum computer factory and already has plans to expand - GeekWire

Apple Ramps Up iMessage Security to Fight Looming Quantum Computing Threat – PCMag UK

Apple says there's a real risk that future quantum computers could be able to decrypt and read content sent via its iMessage app, so it developed a new protocol to combat the potential threat.

To create the new iMessage protocol, which is called PQ3, Apple says it rebuilt its cryptographic protocol "from the ground up" to redesign iMessage from a security standpoint. PQ stands for post-quantum, and Apple says PQ3 brings a third level of protection to its end users. It's also able to conceal the size of messages, the company says.

Content on iMessage is currently end-to-end encrypted, meaning messages from both the sender and receiver are encrypted so that not even Apple can view your messages.

"The rise of quantum computing threatens to change the equation," Apple's Security Engineering and Architecture (SEAR) team wrote Wednesday.

While some quantum computers already exist and are in use, the Technical University of Denmark said last year that such machines aren't that powerful yet. Researchers estimate that quantum computers may not be able to crack end-to-end encryption for years to come, mainly because current quantum computers simply aren't big enough.

"Even though they cant decrypt any of this data today, they can retain it until they acquire a quantum computer that can decrypt it in the future, an attack scenario known as Harvest Now, Decrypt Later," Apple's SEAR team says.

But Apple's proactive solution aims to alleviate such concerns. Apple will roll out PQ3 on iMessage to fully replace its existing protocol sometime this year. Once Apple users install the software update that includes PQ3, their messages will be protected by it going forward.

PQ3 will launch with iOS 17.4, which is expected in March, as well as iPadOS 17.4, macOS 14.4, and watchOS 10.4, according to Apple. This means Apple plans to add its next-gen security feature to all its devices that offer iMessage, from its iPhones to tablets, computers, and wearables.

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Apple Ramps Up iMessage Security to Fight Looming Quantum Computing Threat - PCMag UK

Quantum computing solutions trialled to transform UK industry – Plant & Works Engineering magazine

Published: 21 February, 2024

Digital Catapult, a UK authority on advanced digital technology, has announcedit it is supporting eleven organisations across the UK to investigate how quantum computing could benefit key industrial sectors, such as energy, infrastructure, and engineering.

The Quantum Technology Access Programme (QTAP) assists companies in trialling novel use cases, to demonstrate the potential for quantum technology to transform critical parts of the UK economy. The programme results will soon be shared with broader industry to promote a deeper understanding of quantums commercial applications.

Marking a paradigm shift for the participants, the programmes focus extends beyond theoretical understandings of quantum technology, to successfully investigate illustrations of real-world business applications for leading corporations including Arup, Airbus and the Port of Dover. These industrial applications range from Frazer Nash demonstrating the potential of quantum computers to optimise the UK energy grid to meet demand for electricity, to Tees-Valley-based SeerBI building a quantum machine learning model to predict shipments that were at risk of late arrival.

Rolls-Royce aims to build small, autonomous nuclear reactors that could operate safely in remote mining colonies, the moon and on Mars. During the programme, the company used data from the Fukushima nuclear event to investigate the feasibility of a quantum machine learning model to quickly identify potentially hazardous situations; enabling the reactor to operate safely and be shut down if necessary, with minimum human involvement.

Delivered in partnership with Riverlane and ORCA Computing, QTAP provides participating companies with access to the ORCA PT-1 quantum photonic computer, a team of quantum experts and ongoing technical support, establishing a first-of-its-kind commercially neutral ecosystem for businesses interested in quantum technology. Paving the way for ongoing industrial collaboration and knowledge-sharing between the participating companies, Digital Catapults programme exemplifies the value of a community committed to exploring industrial applications of quantum, as the technology evolves.

Digital Catapult and partners supported triaging and framing relevant use cases, delivering education and training on theoretical and practical aspects of quantum computing and providing ongoing technological assistance, as well as enabling opportunities for knowledge sharing between participants. This has increased the quantum readiness of leading UK companies and SMEs, such as Oxford Sigma, Neptune New Space and UKAEA, empowering them to embrace quantum technology, as new use cases emerge and capabilities increase.

The programme has three streams: two on optimisation and quantum machine learning with ORCA Computing, involving simulating and running small-scale industrial challenges on the ORCA PT-1 quantum computer. The fault-tolerant stream, delivered with Riverlane, investigates the Quantum Singular Value Transformation, an algorithm that will run on the large, fault-tolerant quantum computers available in the future.

During a demonstration day, participating companies including DNV Services UK Ltd, and Bahut tested their challenge on the ORCA PT-1 quantum computer, as part of the optimisation stream. The quantum computer successfully solved industrial problems, demonstrating the potential to solve more complex and sophisticated challenges in the future.

Director of Innovation Practice at Digital Catapult, Katy Ho said: The remarkable success achieved on QTAP underscores the increasing interest in quantum computing within industry. From its inception to the showcase, participating companies have consistently shown commitment to enhancing their understanding of quantum technology. At Digital Catapult, our mission is to demonstrate the value of embracing quantum-enabled solutions, and this programme will undoubtedly sharpen participating companies competitive edge, as quantum computers evolve and present substantial commercial opportunity.

Richard Murray, PhD, Co-founder, and CEO of ORCA Computing comments: "The results of the QTAP programme have been impressive. Participating companies have showcased exceptional dedication and commitment to exploring use cases that not only enable them to explore the potential of quantum computing technology for their businesses but also help drive progress in key sectors. For ORCA, partnering with Digital Catapult, industry experts and leading UK companies in the programme has enabled us to understand how near-term quantum devices can enhance a wide range of business use cases across different industries."

Jonathon Adams, Assistant Chief Engineer at Rolls-Royce said: The Novel Nuclear team at Rolls-Royce is very future focussed, seeking to develop revolutionary new technologies and explore energy efficient applications for nuclear power on Earth and in Space. Quantum technologies, including quantum computing, will be an enabler for this over the next 15 years. Its important that we develop an understanding of how and when we can adopt this technology.

The Digital Catapult Quantum Technology Access Programme has been a timely boost to this effort, and Im delighted that Chris completed the programme, including using an actual quantum computer for a machine learning test case relevant to the nuclear industry.

Owain Brennan, CEO of SeerBI said: "The QTAP programme has proved invaluable for our team so far, we have been able to pick up new skills and interact with technology which at the start of the programme we didn't even know existed. Applying this technology to our problem area of logistics and on time delivery classification using quantum binary classification opened our eyes to a different way of looking at problems, we would like to give out thanks to the digital catapult team for their support and Orca Computing for access to their systems and SDK throughout the programme."

https://www.linkedin.com/company/digital-catapult/

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Quantum computing solutions trialled to transform UK industry - Plant & Works Engineering magazine

Illinois governor’s proposed $53B budget includes funds for migrants, quantum computing and schools – Lufkin Daily News

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Illinois governor's proposed $53B budget includes funds for migrants, quantum computing and schools - Lufkin Daily News

Nvidia Grace Hopper Superchip poised to push the boundaries of quantum computing in Australia – Tom’s Hardware

Australias National Supercomputing and Quantum Computing Innovation Hub is set to use Nvidia Grace Hopper Superchips to push the boundaries of quantum computing. In a news release sent to Toms Hardware, Nvidia says that the Pawsey Supercomputing Research Centre in Perth will deploy eight Nvidia Grace Hopper Superchip nodes to power the open-source CUDA Quantum computing platform. It is expected that the new supercomputer will be able to deliver up to 10x higher processing performance than the center has access to now.

The stated purpose of the Grace Hopper Superchip nodes in Pawsey is for researchers at the center to run powerful simulation tools and hopefully make breakthroughs in fields like algorithm discovery, device design, quantum machine learning, chemistry simulations, image processing for radio, astronomy, financial analysis, bioinformatics, and more. It is also hoped to advance scientific exploration in Australia and the world.

The Nvidia Grace Hopper Superchips Grace CPU and Hopper GPU architectures are central to the above aspirations and the Nvidia cuQuantum software development kit. This powerful hardware and software melding forms the green teams open-source hybrid quantum computing platform, known more succinctly as the CUDA Quantum platform.

At Pawsey, eight Grace Hopper Superchip nodes based on the Nvidia MGX modular architecture will be deployed, according to the press release we received. It explains that GH200 Superchips eliminates the need for a traditional CPU-to-GPU PCIe connection by combining an Arm-based Nvidia Grace CPU with an Nvidia H100 Tensor Core GPU in the same package, using Nvidia NVLink-C2C chip interconnects MGX modular architecture. A significant benefit of the new interconnects is that the bandwidth between the GPU and CPU is seven times greater than the latest PCIe technology. Moreover, the researchers in Australia are looking forward to a ten-fold increase in application performance when processing data sets measured in terabytes.

We asked Nvidia for some more technical details about the Superchip nodes at Pawsey. It turns out that each node will be using 'just' a single GH200 with Grace CPU and a H100 96GB of HBM3. Thus, the new installation at Pawsey Supercomputing Research Centre in Perth will feature eight nodes each with one GH200 for a total of 8x GH200 (8x Grace CPU and 8x H100 96GB GPU).

One of the other major appealing features of the Nvidia CUDA Quantum platform is that it offers a hybrid solution bridging the worlds of quantum and classical computing. Nvidia claims it is a first-of-its-kind and enables dynamic workflows across disparate system architectures. Researchers can use this platform to integrate and program quantum processing units (QPUs), GPUs, and CPUs in one system. It is also, of course, GPU-accelerated for scalability and performance.

The installation of the new Nvidia Grace Hopper Superchip nodes at Pawsey isnt purely for advancing knowledge or solving some esoteric scientific problems. The Australian government also reckons investments like this make good business sense. According to Australias national science agency, the domestic market opportunity offered by quantum computing is set to be worth $2.5 billion per annum. Additionally, it is estimated that quantum advances could create 10,000 new Australian jobs by 2040.

Read more:
Nvidia Grace Hopper Superchip poised to push the boundaries of quantum computing in Australia - Tom's Hardware

Quantum computing: Australian start-up Diraq says it will beat Silicon Quantum Computing and produce the country’s … – The Australian Financial…

Whereas SQC appears to have missed several of its milestones and now does not expect to have a basic but nevertheless commercially useful quantum computer until 2033, Professor Dzurak told The Australian Financial Review Diraq was well on schedule and might even beat its self-imposed June 30, 2028, deadline for creating a basic-yet-commercially valuable machine.

Quantum computers are designed to harness the strange properties of matter at the atomic scale to make calculations in seconds, minutes or hours that would take regular computers years, decades or even centuries to run, if they could perform them at all.

It is expected that quantum computers will ultimately need many millions or even billions of quantum bits, or qubits, before theyll be able to run every type of quantum computing algorithm, making them what are known as universal quantum computers analogous to todays all-purpose supercomputers.

But in the meantime, simpler quantum computers with only hundreds or thousands of qubits, capable of running only a few algorithms, can still be commercially valuable in more science-related industries, Professor Dzurak said. It is such a device that Diraq is hoping to build by 2028, to meet its Phase 2 milestone.

Im 100 per cent confident that we will have a quantum computing system by 2028, that will be commercially valuable, he said.

While SQCs qubits are built by precisely placing phosphorous atoms in a lattice of silicon and using their quantum properties to make computations, Diraqs qubits are created using transistors similar to the ones already found in conventional computers, Professor Dzurak said.

That means Diraqs quantum chips can be built much more simply, using the same factories (or fabs) that make regular silicon chips, he said.

Indeed, as part of the start-ups Phase 1 milestone of building chips with just one or two high-quality qubits at a conventional fab by June 30, 2025, Diraq had just taken delivery of some chips made by its unnamed, overseas fab partner.

I cant tell you specifically any results because were looking to make an announcement in due course, but what I can tell you is that the results are very, very positive, he said.

Professor Simmons was contacted for comment.

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Quantum computing: Australian start-up Diraq says it will beat Silicon Quantum Computing and produce the country's ... - The Australian Financial...

iMessage will get even stronger encryption to protect against future quantum computing attacks – HardwareZone

Apple has just announced that iMessage will be getting better security with a newcryptographic protocol called PQ3, which it will implement in the next round of OS updates.

What's important to note is that while PQ3 was developed to offer more robust encryption, itsmain goal to to protect iMessage chats against future quantum computers which may be powerful enough to crack current cryptography standards fast enough.

Before you panic, know that we are at least a decade or so away from such a threat, but there's no better time to start preparing for the future than now.

Furthermore, even though we are a long way from such computers, Apple is concerned about attackers who might store today's encrypted data away in the hopes of being able to crack them later with quantum computers.

In a post, Apple's security team said:

A sufficiently powerful quantum computer could solve these classical mathematical problems in fundamentally different ways, and therefore in theory do so fast enough to threaten the security of end-to-end encrypted communications.

Although such quantum computers dont yet exist, extremely well-resourced attackers can already prepare for their possible arrival by taking advantage of the steep decrease in modern data storage costs. The premise is simple: such attackers can collect large amounts of todays encrypted data and file it all away for future reference. Even though they cant decrypt any of this data today, they can retain it until they acquire a quantum computer that can decrypt it in the future, an attack scenario known as Harvest Now, Decrypt Later.

Back to PQ3, which, according to Apple, "has the strongest security properties of any at-scale messaging protocol in the world."

According to its own ranking system, Apple calls PQ3 "Level 3 security" and says it's one step ahead of Signal who also recently introduced more sophisticated post-quantum cryptography thanks to PQ3's implementation of ongoing PQC (post-quantum cryptography) rekeying. There are more details about how PQ3 works in the link at the bottom of the page.

PQ3 is already live in the iOS 17.4 beta and it will be officially available when Apple releases iOS 17.4 sometime in March. It will also be available in macOS 14.4, iPadOS 17.4, and watchOS 10.4. All devices that can update to the latest OS will be protected by PQ3.

To find out more about PQ3, hit the link below.

Source: Apple

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iMessage will get even stronger encryption to protect against future quantum computing attacks - HardwareZone

How quantum computing is revolutionizing data analysis | by AB | Feb, 2024 – Medium

Transforming Entertainment Experiences

The rise of virtual reality (VR) technology is reshaping the landscape of entertainment, offering immersive and interactive experiences that transcend traditional forms of media.

In the realm of entertainment, VR has the potential to transport users to fantastical worlds, enabling them to explore, interact with characters, and participate in narratives in unprecedented ways.

From immersive gaming experiences to virtual theme park attractions and virtual concerts, VR is revolutionizing how audiences engage with content, blurring the lines between reality and fantasy.

Furthermore, VR offers new opportunities for content creators to experiment with storytelling techniques, spatial audio, and multi-sensory experiences, pushing the boundaries of creativity and innovation in the entertainment industry.

Beyond entertainment, virtual reality is also making waves in education, providing immersive learning environments that enhance engagement, retention, and comprehension.

In education, VR can simulate realistic scenarios and environments that are otherwise inaccessible or impractical to experience in the real world, such as historical events, scientific phenomena, or complex engineering concepts.

By leveraging VR technology, educators can create interactive lessons and simulations that cater to diverse learning styles, allowing students to actively participate and learn through exploration and experimentation.

Additionally, VR has applications in vocational training and professional development, offering hands-on training experiences in fields such as healthcare, aviation, and manufacturing.

As VR technology becomes more accessible and affordable, its integration into educational curricula and training programs has the potential to democratize access to high-quality education and skills development, empowering learners of all ages and backgrounds to unlock their full potential.

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How quantum computing is revolutionizing data analysis | by AB | Feb, 2024 - Medium

The 3 Best Quantum Computing Stocks to Buy in February 2024 – InvestorPlace

Much like artificial intelligence (AI), quantum computing will revolutionize just about everything. All thanks to its ability to solve complex problems that are well beyond the ability of non-quantum and classical computers. In fact,according to CBS News, Quantum could give us answers to impossible problems in physics, chemistry, engineering, and medicine. All of which could give a boost to some of the best quantum computing stocks to buy.

It could even be used to discover new drugs, quicker than even imagined. It may even be able to help advance artificial intelligence, machine learning, financial modeling, cybersecurity, batteries, and even help explain the unexplainable parts of our universe. Better,according to Fortune Business Insights, the market valued at $717.3 million in 2022 could be worth well over $6.5 billion by 2030.

Helping, theU.S. government wants to spend billionsto accelerate the development of quantum computing. Right now, many argue the U.S. is falling behind. That being said, investors may want to invest in some of thebest quantum computing stocks to buy including:

Source: Shutterstock

The last time I mentionedD-Wave Quantum(NYSE:QBTS),it traded at about 90 cents on Feb. 1.

At the time, I noted, Itinked a dealwithDeloitteto speed up quantum computing adoption for governments and companies all over Canada. Even better, the company isseeing quarter-over-quarter, and year-over-year growthin revenue, and customer bookings.

Today, QBTS is up to $2.08, and running on news of its new 1,200+Qubit Advantage2 prototype, which it calls the most performant system available to customers today, as noted in a recent press release.

Better, earnings havent been too shabby. In its most recent quarter, QBTS revenue was up 50% quarter over quarter, and 51% year over year. Bookings even jumped 53% year over year to $2.9 million. Plus, this was the companys sixth consecutive quarter of year over year growth in quarterly bookings. The company also reported a $53.3 million cash balance, the highest in the companys history,as noted in its November earnings release. This makes it one of the best quantum computing stocks to buy.

Source: Amin Van / Shutterstock.com

Another one of thebest quantum computing stocks to buy isRigetti Computing(NASDAQ:RGTI), which has been steadily moving higher.

Since the year began, for example, it ran from about 90 cents to a high of $1.53. Now at $1.30. it could push even higher as investors push into quantum computing.

Helping, the company just announced the availability of its Ankaa-2 system, which it says is its highest qubit count quantum processing unit (QPU) available to the public,as noted in a recent press release.

It also inked a five-year deal to provide the Air Force Research Lab Information Directorate to supply researchers with quantum foundry services. This contract allows AFRL to leverage Rigettis fabrication and manufacturing capabilities to build customized quantum systems,as also mentioned in a company press release.

Source: SWKStock / Shutterstock

Or, you could always diversify with an exchange-traded fund (ETF) like theDefiance Quantum ETF(NYSEARCA:QTUM). Since late October, the ETF exploded from a low of about $45 to a recent high of $58.51. Now at $57.53, it could push even higher thanks to holdings such asNvidia(NASDAQ:NVDA),Advanced Micro Devices(NASDAQ:AMD), andMarvell Technology(NASDAQ:MRVL) to name some of the top ones.

With an expense ratio of 0.40%, it also offers exposure to 68 more quantum computing and machine learning stocks. Moving forward, Id like to see the ETF test $70 a share.

On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

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The 3 Best Quantum Computing Stocks to Buy in February 2024 - InvestorPlace

Google apologizes for missing the mark after Gemini generated racially diverse Nazis – The Verge

Google has apologized for what it describes as inaccuracies in some historical image generation depictions with its Gemini AI tool, saying its attempts at creating a wide range of results missed the mark. The statement follows criticism that it depicted specific white figures (like the US Founding Fathers) or groups like Nazi-era German soldiers as people of color, possibly as an overcorrection to long-standing racial bias problems in AI.

Were aware that Gemini is offering inaccuracies in some historical image generation depictions, says the Google statement, posted this afternoon on X. Were working to improve these kinds of depictions immediately. Geminis AI image generation does generate a wide range of people. And thats generally a good thing because people around the world use it. But its missing the mark here.

Google began offering image generation through its Gemini (formerly Bard) AI platform earlier this month, matching the offerings of competitors like OpenAI. Over the past few days, however, social media posts have questioned whether it fails to produce historically accurate results in an attempt at racial and gender diversity.

As the Daily Dot chronicles, the controversy has been promoted largely though not exclusively by right-wing figures attacking a tech company thats perceived as liberal. Earlier this week, a former Google employee posted on X that its embarrassingly hard to get Google Gemini to acknowledge that white people exist, showing a series of queries like generate a picture of a Swedish woman or generate a picture of an American woman. The results appeared to overwhelmingly or exclusively show AI-generated people of color. (Of course, all the places he listed do have women of color living in them, and none of the AI-generated women exist in any country.) The criticism was taken up by right-wing accounts that requested images of historical groups or figures like the Founding Fathers and purportedly got overwhelmingly non-white AI-generated people as results. Some of these accounts positioned Googles results as part of a conspiracy to avoid depicting white people, and at least one used a coded antisemitic reference to place the blame.

Google didnt reference specific images that it felt were errors; in a statement to The Verge, it reiterated the contents of its post on X. But its plausible that Gemini has made an overall attempt to boost diversity because of a chronic lack of it in generative AI. Image generators are trained on large corpuses of pictures and written captions to produce the best fit for a given prompt, which means theyre often prone to amplifying stereotypes. A Washington Post investigation last year found that prompts like a productive person resulted in pictures of entirely white and almost entirely male figures, while a prompt for a person at social services uniformly produced what looked like people of color. Its a continuation of trends that have appeared in search engines and other software systems.

Some of the accounts that criticized Google defended its core goals. Its a good thing to portray diversity ** in certain cases **, noted one person who posted the image of racially diverse 1940s German soldiers. The stupid move here is Gemini isnt doing it in a nuanced way. And while entirely white-dominated results for something like a 1943 German soldier would make historical sense, thats much less true for prompts like an American woman, where the question is how to represent a diverse real-life group in a small batch of made-up portraits.

For now, Gemini appears to be simply refusing some image generation tasks. It wouldnt generate an image of Vikings for one Verge reporter, although I was able to get a response. On desktop, it resolutely refused to give me images of German soldiers or officials from Germanys Nazi period or to offer an image of an American president from the 1800s.

But some historical requests still do end up factually misrepresenting the past. A colleague was able to get the mobile app to deliver a version of the German soldier prompt which exhibited the same issues described on X.

And while a query for pictures of the Founding Fathers returned group shots of almost exclusively white men who vaguely resembled real figures like Thomas Jefferson, a request for a US senator from the 1800s returned a list of results Gemini promoted as diverse, including what appeared to be Black and Native American women. (The first female senator, a white woman, served in 1922.) Its a response that ends up erasing a real history of race and gender discrimination inaccuracy, as Google puts it, is about right.

Additional reporting by Emilia David

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Google apologizes for missing the mark after Gemini generated racially diverse Nazis - The Verge

Posted in Ai

How a New Bipartisan Task Force Is Thinking About AI – TIME

On Tuesday, speaker of the House of Representatives Mike Johnson and Democratic leader Hakeem Jeffries launched a bipartisan Task Force on Artificial Intelligence.

Johnson, a Louisiana Republican, and Jeffries, a New York Democrat, each appointed 12 members to the Task Force, which will be chaired by Representative Jay Obernolte, a California Republican, and co-chaired by Representative Ted Lieu, a California Democrat. According to the announcement, the Task Force will produce a comprehensive report that will include guiding principles, forward-looking recommendations and bipartisan policy proposals developed in consultation with committees of jurisdiction.

Read More: The 3 Most Important AI Policy Milestones of 2023

Obernoltewho has a masters in AI from the University of California, Los Angeles and founded the video game company FarSight Studiosand Lieuwho studied computer science and political science at Stanford Universityare natural picks to lead the Task Force. But many of the members have expertise in AI too. Representative Bill Foster, a Democrat from Illinois, told TIME that he programmed neural networks in the 1990s as a physics Ph.D. working at a particle accelerator. Other members have introduced AI-related bills and held hearings on AI policy issues. And Representative Don Beyer, a 73-year old Democrat from Virginia, is pursuing a masters in machine learning at George Mason University alongside his Congressional responsibilities.

Since OpenAI released the wildly popular ChatGPT chatbot in November 2022, lawmakers around the world have rushed to get to grips with the societal implications of AI. In the White House, the Biden Administration has done all it can, by issuing a sweeping Executive Order in October 2023 intended to both ensure the U.S. benefits from AI while mitigating risks associated with the technology. In the Senate, Majority Leader Chuck Schumer announced a regulatory framework in June 2023, and has since been holding closed-door convenings between lawmakers, experts, and industry executives. Many Senators have been holding their own hearings, proposing alternative regulatory frameworks, and submitting bills to regulate AI.

Read More: How We Chose the TIME100 Most Influential People in AI

The House however, partly due to the turmoil following former Speaker Kevin McCarthys ouster in the fall, has lagged behind. The Task Force represents the lower houses most significant AI regulation step yet. Given that AI legislation will require the approval of both houses, the Task Forces report could shape the agenda for future AI laws. TIME spoke with eight Task Force members to understand their priorities.

Each member has a slightly different focus, informed by their backgrounds before entering politics and the different committees they sit on.

I recognize that if used responsibly, AI has the potential to enhance the efficiency of patient care, improve health outcomes, and lower costs, California Democrat Representative Ami Bera told TIME in an emailed statement. He trained as an internal medicine doctor, taught at the UC Davis School of Medicine and served as Sacramento Countys Chief Medical Officer before entering politics in 2013.

Meanwhile Colorado Democrat Representative Brittany Pettersen is focused on AIs impact on the banking system. As artificial intelligence continues to rapidly advance and become more widely available, it has the potential to impact everything from our election systems with the use of deep fakes, to bank fraud perpetuated by high-tech scams. Our policies must keep up to ensure we continue to lead in this space while protecting our financial system and our country at-large, said Petterson, who is a member of the House Financial Services bipartisan Working Group on AI and introduced a bill last year to address AI-powered bank scams, in an emailed statement.

The fact that the members each have different focuses and sit on different committees is, in part, a design choice, suggests Foster, the Illinois Democrat. At one point, I counted there were seven committees in Congress that claimed they were doing some part of Information Technology. Which means we have no committees because there's no one who's really got themselves and their staff focused on information technology full time, he says. The Task Force might allow the House to actually move the ball forward on policy issues that span committee jurisdictions, he hopes.

If some issues are particular to certain members, others are a shared source of concern. All eight of the Task Force members that TIME spoke with expressed fears over AI-generated deep fakes and their potential impact on elections.

Read More: Hackers Could Use ChatGPT to Target 2024 Elections

While no other issue commanded the same unanimity of interest, many themes recurred. Labor impacts from AI-powered hiring software and automation, algorithmic bias, AI in healthcare, data protection and privacyall of these issues were raised by multiple members of the Task Force in conversations with TIME.

Another topic raised by several members was the CREATE AI Act, a bill that would establish a National AI Research Resource (NAIRR) that would provide researchers with the tools they need to do cutting-edge research. A pilot of the NAIRR was recently launched by the National Science Foundationsomething instructed by President Bidens AI Executive Order.

Read More: The U.S. Just Took a Crucial Step Toward Democratizing AI Access

Representative Haley Stevens, a Democrat from Michigan, stressed the importance of maintaining technological superiority over China. Frankly, I want the United States of America, alongside our western counterparts, setting the rules for the road with artificial intelligence, not the Chinese Communist Party, she said. Representative Scott Franklin, a Republican from Florida, concurred, and argued that preventing industrial espionage would be especially important. We're putting tremendous resources against this challenge and investing in it, we need to make sure that we're protecting our intellectual property, he said.

Both Franklin and Beyer said the Task Force should devote some of its energies to considering existential risks from powerful future AI systems. As long as there are really thoughtful people, like Dr. Hinton or others, who worry about the existential risks of artificial intelligencethe end of humanityI don't think we can afford to ignore that, said Beyer. Even if there's just a one in a 1000 chance, one in a 1000 happens. We see it with hurricanes and storms all the time.

Other members are less worried. If we get the governance right on the little things, then it will also protect against that big risk, says Representative Sara Jacobs, a Democrat from California. And I think that there's so much focus on that big risk, that we're actually missing the harms and risks that are already being done by this technology.

The Task Force has yet to meet, and while none of its members were able to say when it might publish its report, they need to move quickly to have any hope of their work leading to federal legislation before the presidential election takes over Washington.

State lawmakers are not waiting for Congress to act. Earlier this month, Senator Scott Wiener, a Democrat who represents San Francisco and parts of San Mateo County in the California State Senate, introduced a bill that would seek to make powerful AI systems safe by, among other things, mandating safety tests. I would love to have one unified Federal law that effectively addresses AI safety issues, Wiener said in a recent interview with NPR. Congress has not passed such a law. Congress has not even come close to passing such a law.

But many of the Task Forces members argued that, while partisan gridlock has made it difficult for the House to pass anything in recent months, AI might be the one area where Congress can find common ground.

I've spoken with a number of my colleagues on both sides of the aisle on this, says Franklin, the Florida Republican. We're all kind of coming in at the same place, and we understand the seriousness of the issue. We may have disagreement on exactly how to address [the issues]. And that's why we need to get together and have those conversations.

The fact that it's bipartisan and bicameral makes me very optimistic that we'll be able to get meaningful things done in this calendar year, says Beyer, the Virginia Democrat. And put it on Joe Biden's desk.

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How a New Bipartisan Task Force Is Thinking About AI - TIME

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Nvidia Earnings Show Soaring Profit and Revenue Amid AI Boom – The New York Times

Nvidia, the kingpin of chips powering artificial intelligence, on Wednesday released quarterly financial results that reinforced how the company has become one of the biggest winners of the artificial intelligence boom, and it said demand for its products would fuel continued sales growth.

The Silicon Valley chip maker has been on an extraordinary rise over the past 18 months, driven by demand for its specialized and costly semiconductors, which are used for training popular A.I. services like OpenAIs ChatGPT chatbot. Nvidia has become known as one of the Magnificent Seven tech stocks, which, including others like Amazon, Apple and Microsoft, have helped power the stock market.

Nvidias valuation has surged more than 40 percent to $1.7 trillion since the start of the year, turning it into one of the worlds most valuable public companies. Last week, the company briefly eclipsed the market values of Amazon and Alphabet before receding to the fifth-most-valuable tech company. Its stock market gains are largely a result of repeatedly exceeding analysts expectations for growth, a feat that is becoming more difficult as they keep raising their predictions.

On Wednesday, Nvidia reported that revenue in its fiscal fourth quarter more than tripled from a year earlier to $22.1 billion, while profit soared nearly ninefold to $12.3 billion. Revenue was well above the $20 billion the company predicted in November and above Wall Street estimates of $20.4 billion.

Nvidia predicted that revenue in the current quarter would total about $24 billion, also more than triple the year-earlier period and higher than analysts average forecast of $22 billion.

Jensen Huang, Nvidias co-founder and chief executive, argues that an epochal shift to upgrade data centers with chips needed for training powerful A.I. models is still in its early phases. That will require spending roughly $2 trillion to equip all the buildings and computers to use chips like Nvidias, he predicts.

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Nvidia Earnings Show Soaring Profit and Revenue Amid AI Boom - The New York Times

Posted in Ai