Quantum computing turbocharges investments – Springwise
CategoriesSustainable News

Quantum computing turbocharges investments – Springwise

Spotted: Quantum computing is an early-stage technology that offers far higher processing speeds than even the most advanced conventional supercomputers. This represents an extraordinary opportunity for business, with McKinsey forecasting that quantum computing could capture nearly $700 billion (around €642 billion) in value by 2035. However, today’s quantum computing hardware is still underdeveloped and largely confined to use by specialists in research labs.  

Spanish startup Multiverse Computing is already looking to change this.  

The company has developed a software-as-a-service platform – called Singularity –that provides non-specialist employees with an intuitive interface that connects to quantum computers on the Cloud.  

Today’s quantum computers are most advanced when it comes to problems that involve optimisation, and Singularity’s first use case is in financial services. Employees in the sector can use Singularity to maximise returns from their investment portfolios through a plugin added to a regular Excel spreadsheet.  

Users input data, such as the expected returns and volatilities of different financial assets, and set parameters such as the total amount to be invested. This information is pre-processed by the software to determine the best algorithms and quantum computers to use. The data is then sent to the computing hardware and the results are returned to the user in an easy-to-understand format. In a matter of minutes, Singularity can identify the optimum allocation of assets in a portfolio, delivering higher returns than industry standard solvers for any given risk level. 

The Singularity platform enables companies to gain some of the promised benefits of quantum computing immediately, even though quantum computing hardware remains in its infancy.

Quantum computing is only just starting to reveal its full potential. In the archive, Springwise has also spotted it being used for cybersecurity and to tackle the climate crisis.

Written By: Matthew Hempstead

Reference

New scalable quantum computing hardware used to boost cybersecurity
CategoriesSustainable News

New scalable quantum computing hardware used to boost cybersecurity

Spotted: All the complexities of the digital world we see today are ultimately based on a system of ‘bits’ – switches that can be either on or off, 1 or 0. And to date, the equation for increasing computing power has been simple: fitting more and more switches (in the form of transistors) onto smaller and smaller microprocessors. But this will not be the case for much longer.

According to the counter-intuitive laws of quantum physics, on the subatomic scale, particles like electrons, photons, and ions can exist in more than one state at any time, and it’s this strange fact that forms the basis of quantum computing. The foundation of a quantum computer is no longer a bit but a ‘qubit’ (quantum bit). A qubit is not bound to being 1 or 0 – instead, it can be 1, 0, or both 1 and 0. This means that a quantum computer can perform multiple processes at once, massively increasing the speed and accuracy with which it can solve complex calculations. Today’s quantum computers remain embryonic but the technology is rapidly improving.

Quantum computing has long been dominated by Chinese and American giants such as Huawei, Baidu, Google, and IBM. But now, UK-based Oxford Quantum Circuits (OQC) has become the latest startup to receive funding to enter the market. The company has developed hardware that addresses one of the key challenges when it comes to scaling quantum computers up to a level of processing that is commercially useful. As you add qubits onto a 2D silicon chip, increasingly complex control wiring is required to support those qubits. In a ‘traditional’ quantum system, complicated engineering is required to fit all that wiring onto the chip alongside the qubits. This added complexity reduces the quality of each qubit while increasing the probability of engineering mistakes, creating a trade-off between scale and quality.

OQC’s solution is to use a 3D rather than a flat structure. Using a 3D structure means that a lot of the control wiring can be taken off the chip, increasing simplicity and flexibility. The company claims this removes the need to compromise on quality to achieve scale.

OQC’s technology is far from an academic exercise. It has potential applications in financial services, pharmaceuticals, and logistics, and, since February, the company’s latest machine—called ‘Lucy’—has been publicly accessible via the cloud using Amazon Bracket, the quantum branch of Amazon Web Services. The company also offers what it calls ‘Quantum-Computing-as-a-Service’ via a private, tailor-made platform. The startup’s first client is Cambridge Quantum, which is using the platform to generate superior cryptographic keys for use in advanced cybersecurity.

Quantum computing, is a sometimes esoteric but increasingly important issue. Springwise has previously produced a Tech Explained article on the topic, and has spotted several other quantum computing innovations such as quantum algorithms for startups aiming to harness quantum computing power.

Written By: Matthew Hempstead

Email: hello@oxfordquantumcircuits.com

Website: oxfordquantumcircuits.com

Reference