Category Archives: Quantum Computing

ELMSFORD, N.Y.--(BUSINESS WIRE)--SEEQC, the Digital Quantum Computing company, today announced the addition of a scientific advisory board to its leadership. This addition comes at a time when the company is unveiling a new brand identity and expanding its team internationally, including the appointment of Shu-Jen Han as its vice president of engineering.

Scientific Advisory Board

SEEQCs new scientific advisory board consists of leading academics from across the world, including Javad Shabani, assistant professor of physics at NYU, professors from the University of Napoli Federico II, Francesco Tafuri and Giovanni Piero Pepe, and Maxim Vavilov, professor at the University of Wisconsin.

The company instituted this board of quantum scientists to guide SEEQCs team as they continue their mission to solve quantum computings' most challenging problems. The board will help ensure that SEEQC bases its products, research and development on sound scientific data.

By integrating this team of scientists into SEEQCs product roadmap, the company can internally peer-review its research and development and receive feedback and scientific advice more quickly than other commercial entities. This ensures that the company is receiving proper oversight and quality consultation as it advances its technological discoveries expanding quantums reach from academia to real-world application.

The fact that half of my fellow board members work in foreign universities, and many of us have international backgrounds, should not be overlooked. SEEQC is an international company, and it is incorporating that element of itself at every level, said advisory board member, Francesco Tafuri. By bringing together this group of international scientists, SEEQC is getting access to even more experience than by engaging exclusively with American universities. These individuals bring a rich and diverse history of scientific research and experience to the company with them.

Appointing New Vice President of Engineering

In addition to expanding its leadership with the advisory board, SEEQC has also appointed industry veteran Dr. Shu-Jen Han as its vice president of engineering. Han brings more than a decade of experience in the nanotechnology and semiconductor industry to SEEQC, as well as world-class expertise in logic and memory chip-making a critical component of scaling the companys system-on-a-chip quantum design.

Han started his career at IBM working in the semiconductor sector after receiving his Ph.D. from Stanford University, later he managed the nanoscale device and technology group at IBMs T. J. Watson Research Center working on world-leading post-silicon transistor research. Han has valuable experience in advancing complex semiconductor chip technology from basic research to product qualification both as a director and later as senior director at HFC Semiconductors Advanced Memory Technology Division. He has authored over 90 technical publications, two book chapters and over 150 issued US patents.

Were thrilled to formally welcome Shu-Jen to SEEQC, and I am excited by the leadership and expertise hell bring to our global team of quantum engineers and researchers, said John Levy, CEO of SEEQC. Shu-Jen is one of the foremost minds in the semiconductor research and development world were grateful he chose to join SEEQC and our mission to bring scalable quantum computing to the enterprise world.

In his new role, Han will help build a scalable research and development organization, lead SEEQCs multi-disciplinary engineering groups and establish a clear roadmap for its commercialization. He also oversees the day-to-day operations of the companys newly renovated chip foundry, a fully operational chip manufacturing facility focusing on superconducting quantum and classic electronics.

Renewed Brand Commitment

As the company continues to evolve its technology and business model, it is also evolving its unique brand. Under the guidance of its creative director, Fredrik Carlstrm, SEEQC is rededicating itself to its original goal and mission statement under renewed branding and communication initiatives.

SEEQC was built upon the premise of approaching quantum differently than its predecessors and counterparts, and its new brand reflects that. The brand takes into account SEEQCs unique team, the integrated process in which design, manufacturing and testing are all done in-house, resulting in a unique approach to building a scalable quantum computer.

The new brand reflects SEEQC at its core not only as a company name but as an acronym: Scalable, Energy-Efficient Quantum Computing. Other aspects of the companys brand portfolio have been updated to evince different aspects of the companys technology. SEEQCs visuals evoke a feeling of efficiency, purpose and a close relationship with nature, just as its end-product uses elements of nature to solve classically intractable problems and address the worlds greatest challenges.

The new design and communication are a mirror image of SEEQCs approach to building scalable, re-configurable quantum computers around a family of chips designed to support a host of high-value problems for clients today, said Carlstrm. We want the brand we put forward to show what were really about and to show our ethos in everything we do from the design of our hardware and software to our offices, facilities, website and brand identity.

Partnership with QuantWare

To further advance its technology, SEEQC has partnered with Dutch quantum startup QuantWare. With additional support from the University of Napoli Federico II, the companies will co-develop an advanced Quantum Processor Unit (QPU) with integrated cryogenic digital control logic. This partnership combines SEEQCs proprietary platform with QuantWares scalable QPU design, resulting in the worlds first commercially available platform, capable of overcoming key scalability engineering challenges.

About SEEQC:

SEEQC is developing the first fully digital quantum computing platform for global businesses. SEEQC combines classical and quantum technologies to address the efficiency, stability and cost issues endemic to quantum computing systems. The company applies classical and quantum technology through digital readout and control technology and a unique chip-scale architecture. SEEQCs quantum system provides the energy- and cost-efficiency, speed and digital control required to make quantum computing useful and bring the first commercially-scalable, problem-specific quantum computing applications to market.

The company is one of the first companies to have built a superconductor multi-layer commercial chip foundry and through this experience has the infrastructure in place for design, testing and manufacturing of quantum-ready superconductors. SEEQC is a spin-out of HYPRES, the worlds leading developer of superconductor electronics. SEEQCs team of executives and scientists have deep expertise and experience in commercial superconductive computing solutions and quantum computing. SEEQC is based in Elmsford, NY with facilities in London, UK and Naples, Italy.

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SEEQC Announces Addition of Scientific Advisory Board, Vice President of Engineering and Unveils New Brand Identity - Business Wire

An Australian firm has announced a partnership with a global leader in encryption technology to roll out the nation's first sovereign quantum encryption service.

AUCloud is one of a handful of companies trusted by governments worldwide to host secure sovereign cloud services.

To protect our private data and essential services such as hospitals, electricity and banking, the cloud provider on Wednesday announced a deal with Arqit to provide stronger, simpler encryption.

Genuine sovereign cloud services can protect citizens' data and the content of data centres from being handed over to foreign powers, and help secure critical infrastructure against nosy or malicious hackers.

The recent trilateral alliance between Australia, the United Kingdom and the United States, known as AUKUS, has defence innovation and technology at its heart and aims to lift the allies' game on cyber security, quantum computing, artificial intelligence (AI) and space technology.

"The world needs stronger, simpler encryption, and it is important that allied countries work together," Arqit founder David Williams said.

Arqit's Federated Quantum System (FQS) is designed for allied governments only.

The unique quantum encryption service makes the communications links of any networked device secure against current and future forms of attack - even from a quantum computer.

The market is every connected device, according to Arqit.

As one of Australia's sovereign cloud Infrastructure-as-a-Service (IaaS) providers, AUCloud already serves federal, state and local governments and critical national industries.

Phil Dawson, managing director and co-founder of AUCloud, said the partnership with Arqit would deliver an immediate capability to customers in these and other enterprise sectors, including financial services, intelligence and defence.

Listed on the Australian stock exchange as Sovereign Cloud Holdings (SOV), AUCloud is independently certified to meet Australian Signals Directorate information security standards and handle protected data.

The company is also a member of the Defence Industry Security Program and is "certified strategic" as a cloud provider by the Digital Transformation Agency.

A consortium of Australian government agencies, the Australia National University, and industry partners are working on the supply chain, technical aspects of deployment and planning for long-term funding of the full system across the country.

This first phase of work with Arqit was included in the "Space Bridge" agreement signed by then minister for Industry, Science and Technology Karen Andrews and British High Commissioner Vicki Treadell almost a year ago.

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Sovereign quantum encryption in the cloud - 7NEWS

In 2020, the market was growing at a steady rate since the negative global impacts of the coronavirus are already there, significantly affecting the Photonic Integrated Circuit And Quantum Computing market. However, the market is expected to rapidly grow in the post-COVID-19 period. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

Photonic Integrated Circuit And Quantum Computing Market research reports 2021-2029. A detailed study accumulated to offer the Latest insights about acute features of the Global Photonic Integrated Circuit And Quantum Computing market. This report provides a detailed overview of key factors in the Photonic Integrated Circuit And Quantum Computing Market and factors such as driver, restraint, past, and current trends, regulatory scenarios, and technology development. The impact of the COVID-19 outbreak on the industry has been fully assessed. Completely risk assessment and industry recommendations were made for Photonic Integrated Circuit And Quantum Computing Market in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19.

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Hamamatsu Photonics

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Infera

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Ciena

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Global Photonic Integrated Circuit And Quantum Computing Market Growing Trends and Demands Analysis forecast 2021-2029 Discovery Sports Media -...

Imagine trying to connect an Altair, an early personal computer developed in 1974, to the internet via WiFi. Its a difficult, but not impossible task. The two technologies speak different languages, so the first step is to help translate, the researchers said in a media statement.

Having noticed this issue, they decided to develop an interface approach to control the diamond nitrogen-vacancy centers in a way that allows direct translation to quantum devices.

To realize the quantum internet, a quantum interface is required to generate remote quantum entanglement by photons, which are a quantum communication medium, Hideo Kosaka, one of the studys authors, said.

According to Kosaka, the promised quantum internet is rooted in more than a centurys worth of work in which researchers determined that photons are both particles and waves of light simultaneouslyand that their wave state can reveal information about their particle state and vice versa.

More than that, the two states could influence each other: pinching the wave could bruise the particle, so to speak. Their very nature is entangled, even across vast distances. The aim is to control the entanglement to communicate discrete data instantaneously and securely, he said.

The scientist pointed out that previous research has demonstrated this controlled entanglement can be achieved by applying a magnetic field to the nitrogen-vacancy centers, but a non-magnetic field approach is needed to move closer to realizing the quantum internet.

His team successfully used microwave and light polarized waves to entangle an emitted photon and left spin qubits, the quantum equivalent of information bits in classical systems. These polarizations are waves that move perpendicular to the originating source, like seismic waves radiating out horizontally from a vertical fault shift. In quantum mechanics, the spin propertyeither right- or left-handedof the photon determines how the polarization moves, meaning it is predictable and controllable. Critically, according to Kosaka, when inducing entanglement via this property under a non-magnetic field, the connection appears steadfast against other variables.

The geometric nature of polarization allows us to generate remote quantum entanglement that is resilient to noise and timing errors, Kosaka said.

The researcher and his team now plan to combine this approach with a previously demonstrated quantum information transfer via teleportation to generate quantum entanglement, and the resulting exchange of information, between remote locations. The eventual goal is to facilitate a connected network of quantum computers to establish a quantum internet.

The realization of a quantum internet will enable quantum cryptography, distributed quantum computation and quantum sensing over long distances of more than 1,000 kilometers, the expert said.

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Flawed diamonds may be the key to quantum internet - MINING.COM - MINING.com

Quantum theory is a revolutionary advancement in physics and chemistrythat emerged in the early twentieth century. It is an elegantmathematical theory able to explain the counterintuitive behavior ofsubatomic particles, most notably the phenomenon of entanglement. Inthe late twentieth century it was discovered that quantum theory appliesnot only to atoms and molecules, but to bits and logic operations in acomputer. This realization has brought about a revolution in thescience and technology of information processing, making possible kindsof computing and communication hitherto unknown in the Information Age.

Our everyday computers perform calculations and process information using thestandard (or classical) model ofcomputation, which dates back toTuring and vonNeumann. In thismodel, all information is reducible to bits, which can take the valuesof either 0 or 1. Additionally, all processing can be performed via simple logicgates (AND, OR, NOT, XOR, XNOR)acting on one or two bits at a time, or be entirely described by NAND (or NOR).At any point in its computation, aclassical computers state is entirely determined by the states of allits bits, so that a computer with n bits can exist in one of2^n possible states, ranging from 00...0 to11...1 .

The power of the quantum computer, meanwhile, lies in its much richerrepertoire of states. A quantum computer also has bits but instead of0 and 1, its quantum bits, or qubits, can represent a 0, 1, or linearcombination of both, which is a property known as superposition.This on its own is no special thing, since a computer whose bits can beintermediate between 0 and 1 is just an analog computer, scarcely morepowerful than an ordinary digital computer. However, a quantum computertakes advantage of a special kind of superposition that allows forexponentially many logical states at once, all the states from|00...0rangle to |11...1rangle . This is a powerfulfeat, and no classical computer can achieve it.

The vast majority of quantum superpositions, and the ones most useful for quantumcomputation, are entangled. Entangled states are states of the whole computerthat do not correspond to any assignment of digital or analog states ofthe individual qubits. A quantum computer is therefore significantly more powerfulthan any one classical computer whether it be deterministic,probabilistic, or analog.

While todays quantum processors are modest in size, their complexity growscontinuously. We believe this is the right time to build and engage a communityof new quantum learners, spark further interest in those who are curious,and foster a quantum intuition in the greater community.By making quantum concepts more widely understood even on a generallevel we can more deeply explore all the possibilities quantumcomputing offers, and more rapidly bring its exciting power to a worldwhose perspective is limited by classical physics.

With this in mind, we created the IBM Quantum Composer to provide the hands-onopportunity to experiment with operations on a real quantum computingprocessor. This field guide contains a series of topicsto accompany your journey as you create your own experiments, run them insimulation, and execute them on real quantum processorsavailable via IBM Cloud.

If quantum physics sounds challenging to you, you are not alone. But ifyou think the difficulty lies in hard math, think again. Quantum conceptscan, for the most part, be described by undergraduate-level linear algebra,so if you have ever taken a linear algebra course, the math will seem familiar.

The true challenge of quantum physics is internalizing ideas that arecounterintuitive to our day-to-day experiences in the physical world,which of course are constrained by classical physics. To comprehendthe quantum world, you must build a new intuition for a set of simple butvery different (and often surprising) laws.

The counterintuitive principles of quantum physics are:

1.A physical system in a definite state can still behaverandomly.

2.Two systems that are too far apart to influence each other cannevertheless behave in ways that, though individually random,are somehow strongly correlated.

Unfortunately, there is no single simple physicalprinciple from which these conclusions follow and we must guard againstattempting to describe quantum concepts in classical terms!The best we can do is to distill quantum mechanics down to a fewabstract-sounding mathematical laws, from which all the observed behaviorof quantum particles (and qubits in a quantum computer) can be deduced andpredicted.

Keep those two counterintuitive ideas in the back of your mind, let goof your beliefs about how the physical world works, and begin exploringthe quantum world!

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Learn quantum computing: a field guide - IBM Quantum

New York, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Quantum Computing: Technologies and Global Markets to 2026" - https://www.reportlinker.com/p05480379/?utm_source=GNW

Revenue forecasts for this period are segmented based on offering, deployment, technology, application, end-user industry and region.

The report also focuses on the major trends and challenges that affect the market and the competitive landscape.It explains the current market trends and provides detailed profiles of the major players and the strategies they adopt to enhance their market presence.

The report estimates the size of the global quantum computing market in 2020 and provides projections of the expected market size through 2026.

Report Includes:- 59 data tables and 54 additional tables- An updated review of the global markets for commercial quantum computing technologies- Analyses of the global market trends, with data from 2020 to 2021, estimates for 2022 and 2024, along with projections of compound annual growth rates (CAGRs) through 2026- Evaluation and forecast the global quantum computing market size in dollar value terms, and corresponding market share analysis by offering, technology, deployment, application, end-user industry and region- Identification of the quantum computing technologies and products with the greatest commercial potential- Technology assessment of the key drivers and constraints that will shape the market for quantum computing over the next ten years- Understanding of the upcoming market opportunities and areas of focus to forecast the market into various segments and sub-segments- Highlights of COVID-19 implications on the progress of this market- Identification of the companies best positioned to meet this demand because of their proprietary technologies, strategic alliances or other advantages- Review of the key patent grants and new technologies in the quantum computing sector- Insight into the recent industry strategies, such as M&A deals, joint ventures, collaborations, and license agreements currently focused on commercial quantum computing products and service- Company profiles of the key industry players, including Alphabet Inc., Cambridge Quantum Computing, Honeywell International Inc., International Business Machines (IBM) Corp., Microsoft Corp. and Toshiba Corp.

Summary:Quantumcomputing is the gateway to the future.It can revolutionize computation bymaking certain types of classically stubborn problems solvable.

Currently, no quantumcomputer ismature enough to performcalculations that traditional computers cannot, but great progress has beenmade in the last fewyears.Several large and small start-ups are using non-error-corrected quantumcomputersmade up of dozens of qubits, some ofwhich are even publicly accessible via the cloud.

Quantumcomputing helps scientists accelerate their discoveries in related areas, such as machine learning and artificial intelligence.

The global quantumcomputingmarketwas estimated atREDACTED in 2020, with a compound annual growth rate (CAGR) of REDACTED from2021 to 2026. Early adoption of quantumcomputers in the banking and financial industries, increased investment in quantumcomputing technology, and the rise of numerous strategicpartnerships and collaborations are the main drivers behind the market growth.

The trend towards strategicapproaches such as partnerships and collaborations are expected to continue.As quantumcomputer vendorsmove to quantumdevelopment, the consumer industrieswill seek to adopt current and newquantumtechnologies to gain a competitive advantage.

The technological hurdles in implementation of the quantumsystems, aswell as lack of quantumskills, can limit market growth. However, increasing adoption of quantumtechnology in healthcare, increasing demand for computing power and the introduction of cloud-based quantumcomputing services are expected to open up newmarket opportunities during the forecast period.

Between 2021 and 2026, many companieswith optimization problemsmay adopt a hybrid approach where some of the problems are handled by classical computing and the rest by quantumcomputers. The demand for quantumcomputers is expected to growfrommultiple end-user industries, from finance to pharmaceuticals, automobiles to aerospace.Many industries, such as banks, are now using cloud-based quantumservices.

There is no doubt that quantumcomputerswill be expensivemachines to develop andwill be operated by a small numberof key players.Companies like Google and IBM plan to double the performance of quantumcomputers each year.

In addition, a small but important cohort of promising start-ups is steadily increasing the numberof qubits a computer can process. This creates an immersive opportunity for the global quantumcomputingmarket growth in the coming years.

This report has divided the global quantumcomputingmarket based on offering, technology, deployment, application, end-user industry and region.Based on offering, the market is segmented into systemsand services.

The servicesmemory segment held the largestmarket share, and it is expected to register the highest CAGR, at REDACTED, during the forecast period. The services segment includes quantum computing as a service (QCaaS) and consulting services.Read the full report: https://www.reportlinker.com/p05480379/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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Quantum Computing: Technologies and Global Markets to 2026 - GlobeNewswire

A group of scientists at the U.S. Department of Energys Ames Laboratory has developed computational quantum algorithms that are capable of efficient and highly accurate simulations of static and dynamic properties of quantum systems. The algorithms are valuable tools to gain greater insight into the physics and chemistry of complex materials, and they are specifically designed to work on existing and near-future quantum computers.

Scientist Yong-Xin Yao and his research partners at Ames Lab use the power of advanced computers to speed discovery in condensed matter physics, modeling incredibly complex quantum mechanics and how they change over ultra-fast timescales. Current high performance computers can model the properties of very simple, small quantum systems, but larger or more complex systems rapidly expand the number of calculations a computer must perform to arrive at an accurate model, slowing the pace not only of computation, but also discovery.

This is a real challenge given the current early-stage of existing quantum computing capabilities, said Yao, but it is also a very promising opportunity, since these calculations overwhelm classical computer systems, or take far too long to provide timely answers.

The new algorithms tap into the capabilities of existing quantum computer capabilities by adaptively generating and then tailoring the number and variety of educated guesses the computer needs to make in order to accurately describe the lowest-energy state and evolving quantum mechanics of a system. The algorithms are scalable, making them able to model even larger systems accurately with existing current noisy (fragile and prone to error) quantum computers, and their near-future iterations.

Accurately modeling spin and molecular systems is only the first part of the goal, said Yao, In application, we see this being used to solve complex materials science problems. With the capabilities of these two algorithms, we can guide experimentalists in their efforts to control materials properties like magnetism, superconductivity, chemical reactions, and photo-energy conversion.

Our long-term goal is to reach quantum advantage for materials to utilize quantum computing to achieve capabilities that cannot be achieved on any supercomputer today, said Ames Laboratory Scientist Peter Orth.

This topic is further discussed in two papers: (1)Adaptive Variational Quantum Dynamics Simulation, authored by Y.-X. Yao, N. Gomes, F. Zhang, C.-Z. Wang, K.-M. Ho, T. Iadecola, and P. P. Orth; and published in PRX Quantum; (2) Adaptive Variational Quantum Imaginary Time Evolution Approach for Ground State Preparation, authored by N. Gomes, A. Mukherjee, F. Zhang, T. Iadecola, C.-Z. Wang, K.-M. Ho, P. P. Orth, Y.-X. Yao; accepted in Advanced Quantum Technologies.

Ames Laboratory is a U.S. Department of Energy Office of Science National Laboratory operated by Iowa State University. Ames Laboratory creates innovative materials, technologies and energy solutions. We use our expertise, unique capabilities and interdisciplinary collaborations to solve global problems.

Ames Laboratory is supported by the Office of Science of the U.S. Department of Energy. The Office of Science is the single largest supporter of basic research in the physical sciences in the United States, and is working to address some of the most pressing challenges of our time.

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Innovative New Algorithms Advance the Computing Power of Early-Stage Quantum Computers - SciTechDaily

Quantum computing is expected to revolutionize a broad swathe of industries. But as the technology edges closer to commercialization, what will the earliest use cases be?

Quantum computing is still a long way from going mainstream. The industry had some significant breakthroughs in 2021 though, not least IBMs unveiling of the first processor to cross the 100-qubit mark. But the technology is still experimental, and has yet to demonstrate its usefulness for solving real-world problems.

That milestone might not be so far off, though. Most quantum computing companies are aiming to produce fault-tolerant devices by 2030, which many see as the inflection point that will usher in the era of practical quantum computing.

Quantum computers will not be general-purpose machines, though. They will be able to solve some calculations that are completely intractable for current computers and dramatically speed up processing for others. But many of the things they excel at are niche problems, and they will not replace conventional computers for the vast majority of tasks.

That means the ability to benefit from this revolution will be highly uneven, which prompted analysts at McKinsey to investigate who the early winners could be in a new report. They identified the pharmaceutical, chemical, automotive, and financial industries as those with the most promising near-term use cases.

The authors take care to point out that making predictions about quantum computing is hard because many fundamental questions remain unanswered; for instance, the relative importance of the quantity and quality of qubits or whether there can be practical uses for early devices before they achieve fault tolerance.

Its also important to note that there are currently fewer than 100 quantum algorithms that exhibit a quantum speed-up, the extent of which can vary considerably. That means the first and foremost question for business leaders is whether a quantum solution even exists for their problem.

But for some industries the benefits look clearer than others. For drug makers, the technology holds the promise of streamlining the industrys long and incredibly expensive research and development process; the average drug takes 10 years and $2 billion to develop.

Quantum simulations could predict how proteins fold and tease out the properties of small molecules that could help produce new treatments. Once promising candidates have been found, quantum computers could also help optimize critical attributes like absorption and solubility.

Beyond research and development, quantum computers could also help companies optimize the clinical trials used to validate new drugs, for instance by helping identify and group participants or selecting trial sites.

Quantum simulation could also prove a powerful tool in the chemical industry, according to the report. Todays chemists use computer-aided design tools that rely on approximations of molecular behavior and properties, but enabling full quantum mechanical simulations of molecules will dramatically expand their capabilities.

This could cut out the many rounds of trial-and-error lab experiments normally required to develop new products, instead relying on simulations to do the heavy lifting, with limited lab-based validation to confirm the results.

Quantum computers could also help to optimize the formulations used in all kinds of productsfrom detergents to paintsby modeling the complex molecular-level processes that govern their action.

For both the pharmaceutical and chemical industries, its not just the design of new products that could be impacted. Quantum computers could also help improve their production processes by helping researchers better understand the reaction mechanisms used to create drugs and chemicals, design new catalysts, or fine-tune conditions to optimize yields.

In the automotive industry, the technology could significantly boost prototyping and testing capabilities. Better simulation of everything from aerodynamic properties to thermodynamic behavior will reduce the cost of prototyping and lead to better designs. It could even make virtual testing possible, reducing the number of test vehicles required.

As carmakers look for greener ways to fuel their vehicles, quantum simulations could also contribute to finding new materials and better designs for hydrogen fuel cells and batteries. But the biggest impact could be on the day-to-day logistics involved in running a major automotive company.

Supply chain disruptions cost the industry about $15 billion a year, but quantum computers could simulate and optimize the sprawling global networks companies rely on to significantly reduce these headaches. They could also help fine-tune assembly line schedules to reduce inefficiencies and even optimize the movements of multi-robot teams as they put cars together.

Quantum computings impact on the financial industry will take longer to be felt, according to the reports authors, but with the huge sums at stake its worth taking seriously. The technology could prove invaluable in modeling the behavior of large and complex portfolios to come up with better investment strategies. Similar approaches could also help optimize loan portfolios to reduce risk, which could allow lenders lower interest rates or free up capital.

How much of this comes to pass depends heavily on the future trajectory of quantum technology. Despite significant progress, there are still many unknowns, and plenty of scope for timelines to slip. Nonetheless, the potential of this new technology is starting to come into focus, and it seems that business leaders in those industries most susceptible to disruption would do well to start making plans.

Image Credit: Pete LinforthfromPixabay

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These Will Be the Earliest Use Cases for Quantum Computers - Singularity Hub

PayPal head of emerging technology research, Hubert Le Van Gong.

PayPal

PayPal is looking to get in on the ground floor of a cutting-edge technology that could change the way the payments giant catches fraud and measures the creditworthiness of its customers.

Whether it's Goldman Sachs looking to speed up how it prices derivatives, or JPMorgan using quantum computing to test an algorithm that predicts options prices, top financial firms are exploring how and where the tech can be deployed.

Quantum computing, unlike traditional computing, uses a branch physics that runs on quantum bits rather than 1s and 0s. Because of this, quantum computing is helpful when executing large, complex calculations, like those in risk analytics or algorithmic trading.

The firm partnered with IBM in October 2020 to figure out how to use quantum computing to improve fraud detection, credit-risk operations, and overall security posture.

Early research shows quantum computing can be better than traditional computers in sweeping through large data sets and discovering patterns in data that can be indicative of fraudulent behavior or identifying credit-worthy individuals, Hubert Le Van Gong, PayPal's head of emerging technology research, told Insider.

Applying quantum computing to existing machine-learning capabilities could mean PayPal would improve its ability to detect fraud and save costs during the modelling process.

But it's a long-term play many of the benefits are theoretical and have yet to be proven.

"I wouldn't say this technology is going to detect fraud in a meaningful way anytime soon," Jay Gambetta, an IBM fellow and vice president of IBM Quantum, told Insider. "It's still very research-based," he added.

And even with "pretty aggressive" timelines in regards to quantum hardware and software, the technology won't be ready to implement until 2023, Gambetta added.

Even at such an early stage, it's a play the payments giant is ready to take on.

"It's not a matter of if, it's more a matter of when this is going to happen," Le Van Gong said. "The companies that are just sitting back and looking at it, waiting for it to become ready are going to miss out."

PayPal sifts through big, constantly changing data sets to detect fraudulent activity and make decisions around credit worthiness. However the data sets are large and can have millions of samples and up to 10,000 different properties like IP address, device type, or location, Le Van Gong said.

To cut down the number of properties and shave off computational costs of modelling, PayPal currently uses a method called "feature selection," Le Van Gong said. The process uses machine learning to pinpoint which properties are most useful in flagging fraudulent behaviors.

But even with feature selection, it's still an extremely complex, expensive, and time-intensive task to do with classic computers, he said.

"The scale at which PayPal operates in terms of machine learning is such that even classical computers, and the best computers you can find today, are going to be limited," Le Van Gong said. Quantum computers hold the promise of scaling beyond traditional computers when it comes to the number of data features and the size of the datasets, he added.

In addition to scale, quantum computers could help PayPal improve its prediction of important features and do so at a reduced cost compared with traditional computers, Le Van Gong said.

PayPal, which has been researching quantum computing for the past few years, is still in the learning stage of how the technology works and can integrate with classical computers.

The initiative is led by Le Van Gong's emerging technology research team, established in 2021, that explores the use of advanced technologies like cryptography and distributed-ledger security.

"It's still early in the process and it's very much humbling work," he added.

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Inside PayPal's partnership with IBM to use quantum computing to improve how it detects fraud and underwrites - Markets Insider

The University of Michigan has formed a collaboration with Michigan State University and Purdue University to study quantum science and technology, drawing together expertise and resources to advance the field.

The three universities are partnering to form the Midwest Quantum Collaboratory, or MQC, to find grand new challenges we can work on jointly, based on the increased breadth and diversity of scientists in the collaboration, said Mack Kira, professor of electrical engineering and computer science at Michigan Engineering and inaugural director of the collaboration.

U-M researchers call quantum effects the DNA of so many phenomena people encounter in their everyday lives, ranging from electronics to chemical reactions to the study of light wavesand everything they collectively produce.

We scientists are now in a position to start combining these quantum building blocks to quantum applications that have never existed, said Kira, also a professor of physics at U-Ms College of Literature, Science, and the Arts. It is absolutely clear that any such breakthrough will happen only through a broad, diverse and interdisciplinary research effort. MQC has been formed also to build scientific diversity and critical mass needed to address the next steps in quantum science and technology.

Collaborators at U-M include Steven Cundiff, professor of physics and of electrical engineering and computer science. Cundiffs research group uses ultrafast optics to study semiconductors, semiconductor nanostructures and atomic vapors.

The main goal of the MQC is to create synergy between the research programs at these three universities, to foster interactions and collaborations between researchers in quantum science, he said.

Each university will bring unique expertise in quantum science to the collaboration. Researchers at U-M will lead research about the quantum efforts of complex quantum systems, such as photonics, or the study of light, in different semiconductors. This kind of study could inform how to make semiconductor-based computing, lighting, radar or communications millions of times faster and billions of times more energy efficient, Kira says.

Similar breakthrough potential resides in developing algorithms, chemical reactions, solar-power, magnetism, conductivity or atomic metrology to run on emergent quantum phenomena, he said.

The MQC will be a virtual institute, with in-person activities such as seminars and workshops split equally between the three universities, according to Cundiff. In the first year, MQC will launch a seminar series, virtual mini-workshops focused on specific research topics, and will hold a larger in-person workshop. The collaboration hopes fostering connections between scientists will lead to new capabilities, positioning the MQC to be competitive for large center-level funding opportunities.

We know collaboration is key to driving innovation, especially for quantum, said David Stewart, managing director of the Purdue Quantum Science and Engineering Institute. The MQC will not only provide students with scientific training, but also develop their interpersonal skills so they will be ready to contribute to a currently shorthanded quantum workforce.

The MQC will also promote development of the quantum workforce by starting a seminar series and/or journal club for only students and postdocs, and encouraging research interaction across the three universities.

MQC also provides companies with interest in quantum computing with great opportunities for collaboration with faculty and students across broad spectrums of quantum computing with the collaborative expertise spanning the three institutions, said Angela Wilson, director of the MSU Center for Quantum Computing, Science and Engineering.

Additionally, bringing together three of our nations largest universities and three of the largest quantum computing efforts provides potential employers with a great source of interns and potential employees encompassing a broad range of quantum computing.

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U-M forms collaboration to advance quantum science and technology - University of Michigan News