"Several companies, including Google, IBM, Microsoft, Amazon, and others, are leading in quantum computing development, with potential implications for Web3 cyber resilience."

IBM is currently leading in quantum computing development with 127 qubits, and countries like China, the E.U., and the U.S. are investing heavily in the field.

Companies such as Google, IBM, Microsoft, and Amazon are leading in quantum computing development, with the finance sector expected to drive market growth.

The leading companies in quantum computing development are Google, IBM, Microsoft, and Amazon, which are offering cloud services for experimenting with quantum simulators.

Companies like Google, IBM, Microsoft, and D-Wave Systems are at the forefront of quantum computing development, with applications in finance, such as derivatives pricing and investment portfolio management.

IBM is currently leading in quantum computing development with 127 qubits.

Several companies, including IBM and IonQ, are leading in quantum computing development, with the global market expected to grow significantly by 2026.

IBM is a leading company in quantum computing development, with a quantum accelerator programme aimed at helping businesses find effective use cases for the technology.

IBM and Google are leading companies in quantum computing development, with plans to create quantum computers capable of defeating current encryption by 2030.

IBM is a leading company in quantum computing development, with plans to deliver a 4,000-plus qubit machine by 2025 and provide software tooling for developers to combine quantum and classical computing resources.

China and the US are at the forefront of quantum computing development, with significant investments made by both countries.

China and the US are leading in quantum computing development, with other countries like Japan, Netherlands, and Finland also involved, as world governments are in a race to succeed in this field.

The United States and China are currently leading in quantum computing development, with significant investments and advancements in the field.

China and the US are leading in quantum computing development, with significant advancements made by Chinese University of Science and Technology and major technology companies like Google and IBM.

China and the US are leading countries in quantum computing development, with China pursuing potential military applications and the US taking steps to restrict technology transfer.

The US and China are the leading countries in the development of quantum computing, with significant investments in the sector.

The US and China are leading the investment in quantum computing, with China investing the most at $11 billion.

The US is one of the countries investing heavily in quantum computing, as indicated by the US government's announcements on combating the quantum threat.

The US and China are likely investing heavily in quantum computing as part of a global race to succeed in the field, driven by the potential for quantum systems to crack long-standing cryptographic coding practices.

The US and China are investing heavily in quantum computing, with companies like Google and IBM, and the Chinese University of Science and Technology, leading the efforts.

IBM is currently leading in quantum computing development with 127 qubits, while China, the E.U., and the U.S. are investing heavily in the field.

Companies like Goldman Sachs, Google, and IBM, and countries such as the United States, China, and Canada are leading in quantum computing development, with applications in finance, investment portfolio selection, and other fields.

IBM and the United States are among the leaders in quantum computing development, with IBM planning to deliver a 4,000-plus qubit machine by 2025 and software tooling for developers to tap into both quantum and classical computing resources.

IBM is a leading company in quantum computing development, with significant advancements in software and hardware, and is expected to continue improving its capabilities in the coming years.

IBM and the United States are leading in quantum computing development, with a strong focus on establishing credibility and completing roadmap milestones.

China is investing heavily in quantum computing, with an investment of $11 billion between 2019 and 2021, and other global superpowers are also likely investing in this technology.

Several countries, including the United Arab Emirates, Germany, Canada, the United Kingdom, and China, are investing heavily in quantum computing as part of a global race to succeed in the field.

The United Arab Emirates is investing heavily in quantum computing, aiming to enable innovation and a knowledge-based economy through the Quantum Research Center and UAE institutes and universities.

The United Arab Emirates is one of the countries investing heavily in quantum computing, along with 13 other countries and the European Union, with expected global investments reaching $16.4 billion by 2027.

The United Arab Emirates is one of the countries investing heavily in quantum computing, along with other countries like the US and China, in order to take advantage of its promising technology sector.

The United States and China are currently leading in the development of quantum computing, with significant investments and research in the field, aiming to leverage its potential to transform various industries.

"China is a leading country in developing quantum computing, with eight entities pursuing potential military applications, including counter-stealth and counter-submarine applications, and the ability to break encryption or develop unbreakable encryption."

China is currently leading in developing quantum computing, with the University of Science and Technology of China building the fastest quantum computer in the world, outpacing America's best.

Australia is a leading country in the development of quantum computing, with significant government investment in the field.

China is leading in developing quantum computing with the development of a 504-qubit chip, which will provide cloud access to its computing power worldwide.

The United States and China are currently leading in quantum computing research, dominating the sector and driving its rapid advancement.

Countries like the United States and China are leading in quantum computing research, with companies like Google, IBM, and the Chinese University of Science and Technology making significant advancements in the field.

China is currently leading in quantum computing research, with the University of Science and Technology of China building the fastest quantum computer in the world, outpacing the United States.

Australia is one of the leading countries in quantum computing research, with significant government investment in the field.

Australia is a leading country in quantum computing research, having started its research in the 1990s and currently having two major spinoffs pursuing silicon-based quantum computing.

Quantum computing is expected to impact various industries, including finance, healthcare, and logistics, by potentially disrupting current cryptography and computational methods.

Quantum computing will change industries such as finance, pharmaceuticals, and healthcare by enabling faster and more accurate calculations, simulations, and predictions.

Quantum computing is expected to change several industries including finance, pharmaceuticals, healthcare, logistics, energy, cryptography, optimization, and simulation, with the finance sector being a key driver of its growth.

Quantum computing is expected to impact various industries, including finance, pharmaceuticals, and healthcare, by increasing the speed and volume of calculations and transactions.

Google achieved quantum supremacy using its Sycamore quantum processor, led by John Martinis, as reported at the end of 2019.

Google demonstrated quantum supremacy with its processor in 2019 by performing a complex calculation that would take thousands of years for a supercomputer to complete.

Google has demonstrated quantum supremacy with its processor, showcasing capabilities beyond those of classical machines.

Google has demonstrated quantum supremacy with its processor, showcasing its capability to perform tasks beyond the capabilities of classical computers.

"Google has demonstrated quantum supremacy with its 70-qubit Sycamore quantum processor, achieving a major milestone in the field of quantum computing."

Eternal Mind Inc's quantum computing data center is located in the United States, specifically at the former Loring Air Force Base in Maine.

Eternal Mind Inc's quantum computing data center is located in the United States, specifically in Loring Air Force Base, as indicated by the company's startup activities in Limestone, Maine.

Finland has launched its first operational 5-qubit quantum computer, marking a significant step in the country's quantum computing journey.

The University of Science and Technology of China is a key player in developing quantum computing technologies, as evidenced by its research team's successful construction of a prototype quantum computer.

The University of Sussex, Google, IBM, and Microsoft are among the organizations leading the development of quantum computers, with achievements such as solving complex academic problems and creating experimental quantum machines.

China is currently leading in state funding for quantum technologies, having invested $15.3 billion in 2022.

China is currently leading in state funding for quantum technologies, with a government funding of $15.3 billion.

China is currently leading in state funding for quantum technologies, with an estimated $15.2bn investment, surpassing other countries like the US, UK, and EU.

Canada is investing in quantum computing through a partnership with Xanadu Quantum Technologies Inc., with the goal of developing a photonic-based, fault-tolerant quantum computer.

"Several companies, including Google, IBM, Microsoft, Amazon, and others, are leading in quantum computing development, with potential implications for Web3 cyber resilience."

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The Silent Quantum Threat To Web3 Cyber Resilience

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If you are worried about DeFi’s war with cyber-hackers and the cyber-marauders at the gates of Web3, take a deep breath. Quantum computing is coming and could render today’s digital cryptography used in DeFi and Web3 useless.

The emerging generation of quantum computers currently under development will have the potential to hack Web3, very quickly. The cybersecurity and financial consequences of this could be unprecedented. The solutions are not straightforward and forthcoming and require complex work and most importantly, community consensus.

The Next Generation Of Computing - Quantum

Quantum computing is the next generation of computing machines and techniques that are very different from current computers, known in the jargon as classical computers. Quantum computers are more powerful for certain calculations. This means that calculations that would take thousands of years on today’s supercomputers are accomplished instantly by quantum ones.

Amongst these calculations are very useful applications like simulating drugs and their effect in organisms over time avoiding lab tests, financial forecasting and better predicting market behaviors to better avoid crisis, and many innovations across business and society.

Nevertheless, the most attractive application to cyber-criminals and the most concerning to society, is the capacity of these computers to hack the current cryptography of the Internet, telecommunications, and blockchain networks, jeopardizing our Web3 identities, digital assets, and their stores of value.

What Makes Quantum Computers So Different And Powerful?

Today’s classical computers are binary because their basic units of information are bits which can be either in a 0 or 1 value. The equivalent in quantum computing is quantum bits, or qubits, a basic unit of information. Qubits leverage two phenomena from quantum physics: entanglement, and superposition, and are used to do parallel computing exponentially faster than a classical binary computer.

For calculations that can be modelled, 50 computations on a quantum computer could achieve a result that would require a staggeringly large number of computations, 1,125,899,906,842,624 on any of today’s computers and at a millennium’s pace (N2^N=2^50) for all of you math enthusiasts.

Web3 is an emerging concept that assembles different constituent technologies, protocols, and principles. One of these principles is the use of RDF, OWL, XLM and other languages and protocols to enable a machine-readable web suitable for AI, which was defined as the “Semantic Web” over two decades ago by Tim Berners-Lee, the Web’s founding father.

A big constituent of Web3 is the use of blockchain technology for decentralized and trusted peer-to-peer interactions and value exchanges. Digital wallets as personal, private, and portable key, data, and asset management tools are a key constituent to using the blockchain. Different combinations of these technologies, protocols, and principles are being used by a new generation of applications and platforms, which together are the main constituents to Web3.

Among the most popular use cases emerging in the world of Web3 commerce are cryptocurrencies, stablecoins, DeFi, DAO’s, and NFT’s. Soon we will be using different forms of tokenized money including central bank digital currencies (CBDCs), and we will be trading and investing in tokenized real-world assets like real estate, gold, and automobiles in real time – amongst all sorts of other things – everything that can be tokenized will be tokenized in Web3.

We will be able to own and present ourselves from our digital wallets with our “digital ID”, driver’s license, health records and certificates, and diplomas which will be verifiable against secure blockchain networks. Many Web3 applications use blockchain networks as an additional layer of the Internet protocol, something which Berners-Lee is less enthusiastic about.

Blockchain networks allow for cryptographic proofs of off-chain data and information, like real estate, to be immutably recorded and universally verifiable, making use cases compelling for government and business registries. Blockchain technology also allows for assets and value to be represented by on-chain tokens so they can be traded against each other or against any form or tokenized money eliminating any post-trade settlement and clearing process.

Blockchain Technology – The Weakest Link With Quantum Computing?

As appealing as it all sounds, blockchain networks are today possibly the most vulnerable technology to attacks by quantum computers. In 2016, the National Institute for Standards in Technology (NIST) and the National Security Agency (NSA) began to warn about the seriousness of the quantum threat.

NIST warns, “If large-scale quantum computers are ever built, they will be able to break many of the public-key cryptosystems currently in use.”

“A sufficiently large quantum computer, if built, would be capable of undermining all widely-deployed public key algorithms used for key establishment and digital signatures,” echoes the NSA.

Public-key cryptosystems and algorithms referred to by NIST and NSA are essentially the mechanisms that we use to encrypt our telecommunications over the phone or the Internet and to control our assets in blockchain networks.

In simple terms, when we send any communication over the Internet such as an email, a transaction from our wallet to a node, or a communication between nodes, we are encrypting the information with the recipient’s public key so the recipient can decrypt it with their private key. Similarly, when we send a transaction to a blockchain we sign it with our private key, so we can for instance, prove that we are the owner of certain amount of bitcoin we want to transfer.

Marcos Allende Lopez, CTO of LACNet, says, “What NIST and NSA warnings reflect is that quantum computers can discover any of those private keys from our public keys. Most prominent blockchain networks, such as Bitcoin or Ethereum, rely on an Elliptic Curve public-key algorithm. This algorithm, as well as others such as RSA and Discrete Logarithm frequently used to encrypt communications over the Internet, are already proven to be breakable by quantum computers.

Allende is a quantum physicist who leads the technical work in blockchain, Web3, and quantum technologies at the Inter-American Development Bank and has designed and piloted an implementation of a quantum-resistant blockchain. Addressing the delegates and the Necker Blockchain Summit this summer, Allende warned, “If quantum hacking has not happened already is only because quantum computers are not large enough yet.”

In 2013, Vitalik Buterin, the founder of Ethereum, pitched, “If you have bitcoins in an address you never use they are safe, otherwise, anyone can steal them.”

This happens when someone makes a transaction, and their public key is exposed to the entire network. However, in July at the Eth 2.0 conference, Butterin admitted that, not only is there not a plan or roadmap for Ethereum to become quantum-resistant, but that the solution is not even know yet and the problem is being postponed to solve more urgent matters such as scalability, interoperability, or costs until quantum computers are ready.

The New Quantum Digital Space Race

Since 2000, private and public entities have competed in a race to develop quantum computers that could scale. At present, IBM leads the race with 127 qubits, however, the number of qubits for breaking current cryptography and being relevant for other disruptive applications is estimated to be in the order of thousands, and at least between 1,000 and 3,000, or more.

Current implementations do not achieve “error correction”, meaning that errors are propagated without the control that is necessary to scale, however, many experts predict quantum computing at scale is just around the corner.

China has invested as much as $11 billion in quantum between 2019 and 2021 followed by $5 billion by the E.U. and $3 billion by the U.S. Every global superpower understands that this may be the next most valuable technology on the road to digital dominance.

The truth is that the quantum threat is in general not well understood in the Web3 world, and the solutions are very complex to implement. Replacing current cryptographic algorithms with one of the new quantum-resistant public-key algorithms that NIST has recently standardized in July 2022 would be almost impossible.

Alternatively, adding a quantum-resistant signature into every transaction might be more feasible but requires consensus, is technically difficult to implement, and could have very negative consequences such as reducing processing throughput, considerably.

“As difficult as it might seem, the time to act is now. By using blockchain technology we are already exposed to the hack today, crack tomorrow practice,” asserts Allende in an industry call to action.

Being realistic, are we really expecting those that achieve building large quantum computers to disclose their projects and users? A strategist might posit that cyber-criminals will silently use quantum computing to strategically hack communications and assets without being noticed as a quantum computer. It is not an enigma to find out cases when this has happened in the past.

As devotees of the Netflix series Game of Thrones know, “winter is coming.” When is the right time to start making Web3 quantum cyber-resilient if not now? An ounce of prevention is worth a pound of cure.

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What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

IBM is currently leading in quantum computing development with 127 qubits, and countries like China, the E.U., and the U.S. are investing heavily in the field.

What are important areas in quantum research?

What companies are leading in developing quantum computing?

Companies such as Google, IBM, Microsoft, and Amazon are leading in quantum computing development, with the finance sector expected to drive market growth.

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September 23, 2022

Is the finance sector quantum ready?

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It is an important year for quantum computing, according to GlobalData’s Technology, Media and Telecoms Predictions 2022. In addition to the high levels of hype generated around this disruptive technology, significant technical advances have seen companies starting to invest in exploring its potential benefits.

The global quantum computing market size is set to reach $1.77bn by 2026, up from $472m in 2021, at a compound annual growth rate of 30.2%, according to Markets and Markets. Pioneering adoption of quantum computing by financial services companies is expected to drive this growth.

Is the financial services industry prepared for quantum?

What does a quantum advantage over classical computing mean for financial services? Increasing the speed and volume of calculations and transactions by multiples represents the biggest change for a post-quantum financial services sector – and the key to identifying the potential benefits of specific use cases is exploration. Early iterations of quantum computing-as-a-service are under way with Big Tech companies Microsoft, Amazon, IBM and Google offering clients a cloud service for experimenting with quantum simulators (essentially classical computers mimicking quantum computers in the cloud to see what they can do).

This collaborative approach between businesses and tech companies addresses two problems in tandem: first, it allows businesses to familiarise themselves with the emerging technology despite quantum supremacy being some years away; second, it tackles the biggest business challenge, which is identifying the most effective use cases for financial services.

US tech giant IBM’s quantum accelerator programme was set up with exactly that in mind: to allow businesses themselves to find effective quantum computing use cases. Many of IBM’s financial services clients in the accelerator programme have initial concerns about the effect quantum computing will have on cryptography, according to Prakash Pattni, managing director for financial services – digital transformation at IBM.

“It took a few years for banks to work out where blockchain fits in with cryptography, for example, and we are now at a stage where blockchain is really taking off,” he says.

Pattni likens quantum computing as being at that same early stage of experimentation as blockchain was. Financial services companies are perhaps even more acutely aware of the potential impact of quantum computing on data security because the nature of banking regulation means data has to be stored and kept safe for many years, adds Pattni.

While cybersecurity remains a clear concern for clients, specific use cases are still being worked out. Again, experimentation is key, according to Pattni, who says: “I think we’ are still at that very early stage in terms of experimentation where quantum is concerned.” According to Gartner, 40% of large companies are planning to create initiatives around quantum computing by 2025, but even with accelerator programmes and research and development budgets, very specific use cases are still proving hard to identify.

Financial services, particularly those which work across multiple markets, stand to benefit greatly from efficiencies enabled by quantum computing given that it enables the modelling of multiple permutations of different scenarios or values to solve the most efficient outcomes in a fraction of the time it would take classical computing.

Pattni believes this could be particularly useful in the cross-border fraud detection space, saying: “Real-time payments mean the window to look at fraud needs to be in real time too.” As AI is increasingly integrated into banking systems, the interface between AI and quantum computing is also a testing ground. Pattni says risk calculation is an area that investment banks are looking at.

“It requires incredibly high levels of compute power to run multiple risk scenarios that regulators don’t like, so that is another area where quantum computing could be applied, but it is still really early days of experimenting with applications,” he adds.

Finance’s first movers in quantum computing adoption

EY’s 2022 Quantum Readiness survey, produced in collaboration with the UK’s National Quantum Computing Centre, found that 81% of senior UK executives expect quantum computing to play a significant role in their industry by 2030. Despite this, most companies are taking a ‘watch and see’ approach. However, there are those in the finance sector taking a pioneering approach by testing the technology and ramping up investment in a calculated bet that quantum computing will, in fact, live up to its hype.

US investment bank Goldman Sachs is actively researching how quantum computing can be applied to the pricing of complex derivatives. Computing a price within a complicated contract or statistical model can be an expensive process. Derivatives are so common in finance that even a small improvement in pricing them, or in calculating related quantities, could be very valuable, according to William Zeng, head of quantum research for Goldman Sachs, who made the claim in September 2022 for Microsoft Azure’s quantum blog.

In March 2022, Spain’s CaixaBank’s life insurance and pensions company, VidaCaixa, announced that it is using Canadian quantum computing company D-Wave’s cloud service to build a quantum computing application for its investment portfolio selection and allocation activities, as well as its portfolio hedging.

According to CaixaBank, this is the first time a financial services company has applied quantum computing in investment hedging in the insurance sector. What normally took the bank several hours of computing time was reduced to just minutes, representing up to a 90% decrease. This time reduction facilitates increased modelling complexity, which is better adapted to real-time markets, optimises invested capital while maintaining constant risk levels and improves the hedging decision-making process. The Spanish banking group is evaluating whether to use the application in other areas of its operations over the coming months.

In March 2022, HSBC announced it will join the IBM Quantum Accelerator programme to progress potential quantum use cases in pricing and portfolio optimisation to advance its net-zero goals and to mitigate risks, including identifying and addressing fraudulent activity. The collaboration will also include knowledge transfer through internal training programmes, as well as actively recruiting quantum computing research scientists to build a dedicated capability within its innovation team.

Elsewhere, Standard Chartered has embarked upon research into quantum computers as part of an academic partnership with the Universities Space Research Association. The partnership is already actively developing what is known as the Quantum Computing System for Financial Services, and the bank will use it to address the security challenges posed by a super-powerful quantum computer.

Post-quantum security a pressing matter

Both IBM and Google have road maps to create quantum computers capable of defeating current encryption by 2030, according to GlobalData. Despite the cybersecurity industry developing quantum-resistant encryption before that time, future quantum computers could decrypt data harvested today. As a result, GlobalData expects companies to implement quantum security solutions in 2022, particularly as cybersecurity has become front of mind for business leaders.

Over the past 12 months, interest in quantum security has grown considerably in the financial services sector, according to Duncan Jones, head of cybersecurity at quantum computing company Quantinuum. “This is partly driven by the stream of announcements from the US government highlighting the urgent need to combat the quantum threat alongside the business opportunities,” he says.

In addition, as more quantum-enabled business use cases emerge, so too do the cybersecurity concerns. Jones and his team at Quantinuum are working on ways to remedy this. Quantinuum’s partnership with cybersecurity software company PureVPN uses Quantinuum’s cyber platform, Quantum Origin, to create and deploy encryption keys generated using a verifiable quantum process, which are more secure than keys from unverified, classical computing processes.

Every technology advance creates a commensurate cybersecurity challenge and quantum-proofing financial services companies will continue to be a concern alongside the business growth opportunities, according to Jones. “Financial services companies are realising there is a new quantum baseline for security and are factoring this into their cyber planning,” he adds.

In July 2022, it became public knowledge that US investment bank JPMorgan Chase had hired assistant professor Dr Charles Lim – a world-renowned expert in next-generation, quantum-resistant communication networks at the National University of Singapore – to lead the bank’s quantum communications and cryptography. The move not only demonstrates how quantum computing has become a business concern but also highlighted a global race for talent in the field, serving as a warning to other financial services companies that they may want to ramp up their search for quantum computing talent. Historically, financial services has attracted the brightest and the best with attractive compensation, but the sector is now competing with commensurate employee offerings by Big Tech. A battleground for quantum computing talent is set to continue.

Credit rating financial services company Moody's Analytics announced in September 2022 that it is establishing the Moody's Analytics Quantum Computing Team, which is perhaps a sign that quantum computing has become part of the financial services establishment. Early adoption of this technology may seem like a choice in 2022, but it may prove vital in future-proofing financial services companies against the changes that it will bring to the sector. As with any emerging technology there are first movers and those that follow the trend – it is still too soon to tell which approach will reap the most benefits.

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What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

The leading companies in quantum computing development are Google, IBM, Microsoft, and Amazon, which are offering cloud services for experimenting with quantum simulators.

What countries and blocs are leading in developing quantum computing?

Companies like Google, IBM, Microsoft, and D-Wave Systems are at the forefront of quantum computing development, with applications in finance, such as derivatives pricing and investment portfolio management.

What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

IBM is currently leading in quantum computing development with 127 qubits.

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

Several companies, including IBM and IonQ, are leading in quantum computing development, with the global market expected to grow significantly by 2026.

What companies are leading in developing quantum computing?

IBM is a leading company in quantum computing development, with a quantum accelerator programme aimed at helping businesses find effective use cases for the technology.

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

IBM and Google are leading companies in quantum computing development, with plans to create quantum computers capable of defeating current encryption by 2030.

What are important areas in quantum research?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

IBM is a leading company in quantum computing development, with plans to deliver a 4,000-plus qubit machine by 2025 and provide software tooling for developers to combine quantum and classical computing resources.

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IBM today updated its existing quantum computing roadmap, foreseeing a 4,000-plus qubit machine by 2025. Included in its plan is orchestration for more potent combinations of classical and quantum resources.

Such combinations, which comprise what may be called “quantum-centric supercomputing,” will place the new quantum crew more firmly in the world of high-performance computing, where technologists tackle some of humankind’s most pressing challenges.

IBM said it expects to deliver in 2023 software tooling that allows developers to run jobs that help them tap into both quantum and classical computing resources. IBM said it sees no letup in the steady advance of quantum scaling.

The company uses the term “Serverless Quantum” to describe an architecture that deploys infrastructure that assigns work to processors of either the classical or quantum variety.

“Serverless Quantum is part of getting the world ready for quantum-centric supercomputing,” according to Jerry Chow, IBM fellow and director of quantum infrastructure. He likened the effect to today’s elastic computing methods, “in the sense that you have computing resources on demand.”

Speaking with VentureBeat, Chow said the idea is that parts of problems can be handled by either classical CPUs, GPUs or non-classical QPUs, or quantum processing units. This is enabled by a common service layer that efficiently orchestrates, or arranges, workload assignments.

Better hardware and software methods for interchip communications is also important in this quantum quest, Chow indicated as he discussed future plans for quantum “circuit knitting.”

“That’s where you can take larger problems,” he said, “and find ways to break them down into small-order quantum circuits, and knit or take all the results and put them back together.”

The problems imagined are manifold, and some appear especially pressing.

Simulating nature with quantum systems, for example, is seen as a path to efficiencies that could drive substantial environmental, social and governance improvements.

Also, world governments are now seen in a race to succeed in quantum computing, as quantum systems could crack long standing cryptographic coding practices. Viewers suggest adversary governments are gathering encrypted data now, to process when quantum breakthroughs occur.

Sticking to their circuit knitting

IBM has indicated Serverless Quantum capabilities in its Qiskit Runtime software, including circuit knitting, will support distribution of parallelizable work in 2023. As well, improvements in error mitigation and suppression are expected to improve quality of quantum results, the company said. These are due for Qisket as part of the roadmap in 2024 and 2025.

The bird is the word when it comes to code names for IBM quantum processors. Last year, IBM released a 127-qubit Eagle processor to be followed this year by Osprey, a 433-qubit unit. An increasingly powerful flock of IBM qubit processors will follow. IBM’s roadmap anticipates: a 133-qubit Heron processor to appear in 2023; a 462-qubit Flamingo processor in 2024; and the 4,158-qubit Kookaburra device in 2025.

While Heron’s qubit count may look like a step back, it’s important to IBM’s overall plans to knit clusters of qubit processors together. That is vital to IBM’s assertions of continued scalability.

“What’s exciting about Heron is that it is defined in such a way that they’re going to be classically controllable [via] the same control hardware infrastructure. So what that means is effectively, we’re going to have quantum computing with classical communication and classical parallelization,” said Chow, who is expected to further detail IBM’s  quantum roadmap this week at the Inside Quantum Technology Conference 2022 in San Diego, Calif.

Quantum timelines

Timelines for quantum computing have been closely watched since qubits first emerged from the lab as part of physics experiments. A common joke holds that today, just as at the turn of the century, “quantum computing is five to ten years away.”

But IBM’s timelines for quantum computing have usually been realistic, according to Brian Hopkins, analyst, Forrester Research.

“IBM has the most detailed roadmap of any of the full stack quantum computing vendors I cover,” he told VentureBeat via email. “Furthermore, they are establishing credibility with the market by completing roadmap milestones per their plan.”

That gives Forrester’s Hopkins confidence in IBM’s 4,000-plus qubit projections, although he emphasizes that IBM is still refraining from any meaningful prediction on when its computers and software will be able to demonstrate advantage – in the form of a positive ROI — for any problem domain.

Hopkins goes on to say this is valuable, in that the company will have greater credibility when it does prove such an advantage.

“Even when we hit advantage for one problem area, it will still be many years before quantum computers are scalable and powerful enough to be applicable to the many areas where we see potential,” he said.

We love qubits – but….

Skepticism of quantum computing timelines is not likely to abate, but elements of IBM’s new timeline suggest the technology may be moving forward faster than some skeptics thought.

While “qubit counts” will get the headlines here and elsewhere, the technology advances that surround qubit research bear closer watching, as do hybrids that match classical and quantum computing to different parts of problems.

“We love qubits – but the exact number is not as important as [the fact] that we have defined the path for the technology to keep scaling,” said Chow.

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What are important areas in quantum research?

implementations of quantum processors
development of high-level software

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

China and the US are at the forefront of quantum computing development, with significant investments made by both countries.

China and the US are leading in quantum computing development, with other countries like Japan, Netherlands, and Finland also involved, as world governments are in a race to succeed in this field.

The United States and China are currently leading in quantum computing development, with significant investments and advancements in the field.

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Content: Monday, 25 March 2024 02: 58 GMT
UAE invests in ‘ quantum computing ’ to look to the future
(MENAFN- Al-Bayan)
The UAE is investing in the sector of quantum computing, which is expected to reach a global market value of $1 trillion in 2035, as one of the fastest expanding fields of technology in the world and because of its innovative applications capable of solving challenges in many sectors, because of its strength and speed in calculating physical phenomena, compared to traditional computers.
The UAE aims to invest in quantum computing to enable innovation and a knowledge and sustainable economy through the Quantum Research Center and UAE institutes and universities to explore the future of this vital sector. The Institute of Technology Innovation ’ s (TII) Quantitative Research Center is working to build the first quantum computer in the UAE, according to the Interregional Center for Strategic Analytics in Abu Dhabi.
The UAE has quickly realized the benefits of the quantum computing sector in all sectors and fields, especially in the economy and scientific research, as part of the country ’ s long-term strategies to keep pace with the global technological development represented by the fourth industrial revolution and artificial intelligence, which will change the face of the world in the coming years.
IDC expects global investments in quantum computing to reach $16.4 billion by the end of 2027, with a compound annual growth rate of 11.5%, which includes investments by the public and private sectors and R & D spending from technology, services and finance companies.
There is growing interest in quantum computing by global government agencies, with 14 of them (13 countries plus the European Union) announcing multi-year initiatives that will generate billions of dollars for quantum computing research.
The center said that the UAE is among the 50 projects working to create an attractive investment environment for investments in new and future sectors, including quantum computing technology.
According to Accenture Middle East, quantum computing technology is advancing rapidly, making it a promising technology sector.
The US and China dominate the quantum computing sector to take advantage of the features of the new technological revolution that has enabled scientists to study the basic particles of matter, whose applications have multiplied across different fields despite their relative novelty, promising radical transformations for any industry dependent on speed and processing power, including aerospace, automotive, medicine and others.
Quantum computing technologies have a huge market value, with quantum computing alone expected to reach a global market value of $1 trillion by 2035.
Quantum technology has played a role in many areas, including complex mathematical models, simulations, electronic devices, CT scanners and many others, as it has the potential to revolutionize the way humans communicate and process information at record speeds.
The most prominent areas of use of quantum computing can be found in many fields of military, communications and medicine, and can address economic crises and challenges quickly, and there is no doubt that quantum computing technology can change the map of national industries.
Major technology companies are leading efforts to develop quantum computing, with Google Research Lab and IBM, which built one of the largest quantum computers in the field, and the Chinese University of Science and Technology has developed a quantum computer that is 10 billion times faster than the computer developed by Google.
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China and the US are leading in quantum computing development, with significant advancements made by Chinese University of Science and Technology and major technology companies like Google and IBM.

China and the US are leading countries in quantum computing development, with China pursuing potential military applications and the US taking steps to restrict technology transfer.

Title:

Content: In brief: The US Department of Commerce has banned dealings with 27 foreign entities based in China, Japan, Pakistan, and Singapore. Eight are developing quantum computing technologies, which the US has now recognized as a national security concern.

All eight entities developing quantum computing technologies were found to be pursuing potential military applications on behalf of the Chinese government. Three of them were found to be acquiring or attempting to acquire American technologies to assist them.

The Department of Commerce believes that quantum computing could support a number of military applications that China is interested in, including "counter-stealth and counter-submarine applications, and the ability to break encryption or develop unbreakable encryption."

One of the eight entities was the quantum computing branch of the University of Science and Technology of China, which claimed to have built the fastest quantum computer in the world earlier this year. It theorized that the computer was two to three times faster than America’s best.

Several of the entities have downplayed the bans. QuantumCTek is describing the situation as "manageable," according to Nikkei Asia. It said that because it owns the essential technologies and mostly relies on Chinese sources, it was never dependent on the US.

Of the 19 non-quantum computing entities that were also banned, three were Chinese-owned companies based in China, Japan, and Singapore selling American technology to Iran’s military and space programs and North Korean front companies.

The remaining 16 were blacklisted because they’ve contributed to Pakistan’s "unsafeguarded nuclear activities or ballistic missile program." Some are based in Pakistan, while others are Chinese. Curiously, one was a refrigeration and air conditioning company.

In addition to the banned entities list, the Department of Commerce also maintains a list of entities that have a military end-user (MEU) for their products. The Moscow Institute of Physics and Technology has been added to that list.

The US and China are the leading countries in the development of quantum computing, with significant investments in the sector.

The US and China are leading the investment in quantum computing, with China investing the most at $11 billion.

What countries and blocs are leading in developing quantum computing?

The US is one of the countries investing heavily in quantum computing, as indicated by the US government's announcements on combating the quantum threat.

How much have countries and blocs invested in quantum computing?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

The US and China are likely investing heavily in quantum computing as part of a global race to succeed in the field, driven by the potential for quantum systems to crack long-standing cryptographic coding practices.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

The US and China are investing heavily in quantum computing, with companies like Google and IBM, and the Chinese University of Science and Technology, leading the efforts.

IBM is currently leading in quantum computing development with 127 qubits, while China, the E.U., and the U.S. are investing heavily in the field.

What companies are leading in developing quantum computing?

Companies like Goldman Sachs, Google, and IBM, and countries such as the United States, China, and Canada are leading in quantum computing development, with applications in finance, investment portfolio selection, and other fields.

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

IBM and the United States are among the leaders in quantum computing development, with IBM planning to deliver a 4,000-plus qubit machine by 2025 and software tooling for developers to tap into both quantum and classical computing resources.

What are important areas in quantum research?

implementations of quantum processors
development of high-level software

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

IBM is a leading company in quantum computing development, with significant advancements in software and hardware, and is expected to continue improving its capabilities in the coming years.

What are important areas in quantum research?

implementations of quantum processors
development of high-level software

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

IBM's world's first integrated quantum computing system, IBM Quantum System One

What seminal quantum computers/ processors have been developed?

IBM's Eagle
IBM's 1,121 Quantum Condor
IBM's 65-qubit Hummingbird
20-qubit "IBM Q System One"

IBM and the United States are leading in quantum computing development, with a strong focus on establishing credibility and completing roadmap milestones.

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

China is investing heavily in quantum computing, with an investment of $11 billion between 2019 and 2021, and other global superpowers are also likely investing in this technology.

What countries and blocs are leading in developing quantum computing?

Several countries, including the United Arab Emirates, Germany, Canada, the United Kingdom, and China, are investing heavily in quantum computing as part of a global race to succeed in the field.

The United Arab Emirates is investing heavily in quantum computing, aiming to enable innovation and a knowledge-based economy through the Quantum Research Center and UAE institutes and universities.

The United Arab Emirates is one of the countries investing heavily in quantum computing, along with 13 other countries and the European Union, with expected global investments reaching $16.4 billion by 2027.

The United Arab Emirates is one of the countries investing heavily in quantum computing, along with other countries like the US and China, in order to take advantage of its promising technology sector.

The United States and China are currently leading in the development of quantum computing, with significant investments and research in the field, aiming to leverage its potential to transform various industries.

"China is a leading country in developing quantum computing, with eight entities pursuing potential military applications, including counter-stealth and counter-submarine applications, and the ability to break encryption or develop unbreakable encryption."

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What countries and blocs are leading in developing quantum computing?

What fields can quantum computers advance?

China is currently leading in developing quantum computing, with the University of Science and Technology of China building the fastest quantum computer in the world, outpacing America's best.

What countries and blocs are leading in developing quantum computing?

What seminal quantum computers/ processors have been developed?

China's 72-qubit Origin Wukong
China's 113-qubit Jiuzhang 2.0

Australia is a leading country in the development of quantum computing, with significant government investment in the field.

Title:

Content: Chandeliers, ‘qubits’ and Schrödinger’s cat: Inside the bizarre world of quantum computing

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Chandeliers, ‘qubits’ and Schrödinger’s cat: Inside the bizarre world of quantum computing

In the quantum realm, the laws of physics are different. Now its mind-bending tech could soon transform our lives. How does it work?

It was 2009, and a group of scientists had crowded around a tiny monitor in a Sydney physics laboratory. The team, led by electrical engineer Andrea Morello, held their collective breath and peered at a single flat line on the screen. Then, in the blink of an eye, the line changed: it was a series of blips, like a heartbeat. They’d hit paydirt. “When you see that symbol, you’re in the game,” recalls physicist Charles Tahan.

Welcome to the quantum world, a subatomic realm – yes, smaller than an atom – where the laws of physics are, well, different. The experiment made Morello and his team the first in the world to show that a quantum computer could be made using not diamonds, not the superconductor niobium, but everyday silicon. “To show you could do that, 100 different things had to go right,” says Tahan.

Quantum computing is one of the key technologies defining this century. Its proponents say it will do for computers what the car did to the horse and buggy. It will upend encryption and molecular biology. In theory, it could even possibly find cures for cancer. Australia is among the world leaders in a quantum computing gold rush, with Prime Minister Anthony Albanese saying his government is “serious about building a strong quantum ecosystem” and investing nearly a billion dollars.

Yet despite eye-watering outlays worldwide, quantum computing is still in its infancy, part of a mind-bending world that physicists are only beginning to fully grasp. What is it? And how will it make a difference to our lives?

How does a quantum computer work (and why did Alice in Wonderland have the jump on it?)

It’s often remarked that it looks like a beautiful chandelier, or a wedding cake. And IBM’s quantum computer, one of the world’s largest, is certainly an intriguing object, an intricate dome of golden wires and graceful tubes suspended from a ceiling.

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The part we can see, though, is really just the control and support system for a microchip (currently a version called Condor) buried deep inside. The glittering exoskeleton is there to keep its tiny heart as cold as possible – a hundred times colder than the coldest depths of space – and to feed information in and out, the process that makes it a “computer” and not just a science experiment.

The chip itself is smaller than a postage stamp, with several layers of circuitry and metal sandwiched in a tiny square, cooled to improve conductivity and to eliminate “noise”, the bugbear of many such devices. But even what we see here is not where the action happens. For that, we have to go deeper still, down into the chip and well beyond what’s visible through even the most powerful microscope, beyond the layers of individual atoms, into the atoms themselves.

‘The truth is the universe doesn’t run by the rules that we see every day – gravity, you bounce a ball and it falls. It runs on these other rules: quantum mechanics.’

In the subatomic realm of electrons, protons and photons, things happen very differently. Indeed, these tiny particles have no use for Newton’s laws of physics, nor even many of Einstein’s. “The truth,” says Tahan, “is the universe doesn’t run by the rules that we see every day – gravity, you bounce a ball and it falls. It runs on these other rules: quantum mechanics.”

Why these particles behave as they do in the quantum realm is a difficult concept to get your head around. Even Einstein resisted aspects of it, famously arguing that “God does not play dice with the Universe”. It was a misstep. “Because he didn’t believe in the completeness of quantum mechanics,” says Morello, “he lost a lot of productive years because he didn’t understand how it is possible that this thing is true.”

Many leading physicists investigated the concept from the early 1900s, including some familiar from popular culture today, notably Einstein and Neils Bohr (portrayed in Oppenheimer), Werner Heisenberg (whose name Walter White stole for his drug-chemist alter ego in Breaking Bad) and Viennese physicist Erwin Schrödinger, of the famous cat experiment (explained below).

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Lewis Carroll, meanwhile, may have had the jump on quantum physics with his ideas in the Alice books, as James Renner observed in The Wall Street Journal in 2015. “We speak of going down the wormhole into a mysterious world that defies Newtonian physics, where once Alice went down the rabbit hole into a mysterious world that had much the same effect. Now we speak of quantum particles being in two places at once or even Schrödinger’s cat being alive and dead at the same time, long after the Cheshire Cat’s grin was magically displaced from its body.”

The quantum realm has only truly begun to reveal itself to us relatively recently. In 1964, the Irish-born physicist John Bell published one of the most important theorems, which, according to Professor Andrew Whitaker in Physics World, “opened up the possibility of experimental philosophy, the study of what are normally thought of as philosophical issues in experiments. Not only do these experiments probe the deepest and most profound aspects of quantum theory, they also provide information on the fundamental nature of the universe.”

At the time, Bell’s theorem could not be tested in a lab. That would come in the late 1960s and early 1970s when experimentalists such as John Clauser began to show that the weirdness Bell had described on paper actually occurred in the real world. Which, at the time, was considered quite rude. One eminent physicist “was highly offended by my impertinent effort and told me that it was tantamount to professing a disbelief in quantum physics,” Clauser later recalled.

He and other apostates continued their work because he found some of the predictions “sufficiently bizarre that I could not accept them without seeing experimental proof”. Working with leftover lab equipment – “physics department scrap” – he went on to provide experimental evidence that refuted even Einstein’s theories. “I was very sad to see that my own experiment had proven Einstein wrong,” he said. Clauser would go on to win the 2022 Nobel Prize for Physics alongside Alain Aspect and Anton Zeilinger for their groundbreaking experiments with so-called “entangled” particles.

Quantum physicists still despair at the difficulties of explaining their weird world to outsiders. “Many writers fall back on boilerplate that makes physicists howl in agony,” wrote computer scientist Scott Aaronson in The New York Times in 2019. Unfortunately, says Gerard Milburn, a quantum physicist from the University of Queensland, “The quantum world lies beyond the reach of natural language.”

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But we’ll give it a go. Chiefly, particles in the quantum realm aren’t tied down to being in one place or state in the way bigger things are in the outside world, such as cats, which tend to be in one place at once. They obey different rules entirely. The first way to understand this oddness harks back to high-school science and how light can behave as both a particle and a wave. Photons – bursts of light – can act like ball bearings, with position and momentum. Yet light also behaves like a wave washing over a beach in a way that a ball bearing can’t. That’s a quantum physics party trick.

What is Schrödinger’s cat?

The most famous primer for quantum mechanics is the paradox of Schrödinger’s cat, a mind experiment devised by Schrödinger in 1935. A hypothetical cat goes into a box with a vial of poison gas, which has a 50-50 chance of killing it. You close the box and can’t see inside. So, without opening the box, you can’t know whether the poison has killed the cat or not. Therefore, posited Schrödinger, puss is neither dead nor alive but both – until you open the box.

In quantum mechanics, this state is called “superposition”. It’s impossible to describe properly without a background in higher-level mathematics, which we lack, but it generally means not knowing whether, say, an electron is over here, or over there, or – cat-like – in both places at the same time. Another way of looking at it is to visualise a coin spinning on its side. Until it stops and lands on one side or another, it’s not heads or tails but both.

At least, kind of.

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“Every explanation we give in lay terms is in some way wrong,” says Stephen Bartlett, a theoretical quantum physicist and director of the University of Sydney Nano Institute. “People often say a quantum superposition is in the value zero and the value one at the same time. That’s sort of right, and sort of not right.” Says Morello: “This is where language is failing us, right? If you’re trying to say that in plain English, it sounds really weird. But if you actually think about, you know, the mathematics of it, and the actual physical embodiment of that, it actually makes perfect sense.” Suffice to say, a real cat cannot find itself in “superposition”: this is a state that can exist only in the subatomic world.

How is this useful (and what’s a qubit)?

In a conventional computer, information is encoded as voltages that pass around the system thanks to millions of tiny transistors – essentially, gates or switches that turn on and off. A quantum computer is similar except that instead of using transistors as switches it uses subatomic particles, such as electrons or photons, that can have many more states than simply on or off, according to their position, momentum, spin direction and polarisation. Once harnessed – and there are many ways of doing that – these particles-as-switches are called “qubits”, a play on the word “bit”, the smallest unit of data that a computer can process and store.

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Information can be encoded on qubits in various ways: for his computers, Morello uses silicon and strong magnetic fields like those found in MRI machines. “The stuff that I build in my lab is actually a small silicon chip the size of a fingernail,” he says, “but the whole infrastructure around it is quite fancy. It’s a very powerful refrigerator that cools down the chip to [just] above absolute zero.

Critically, qubits can relate to other qubits in a state called “entanglement”. This enables quantum computers to perform multiple calculations simultaneously – which is their superpower. Schrödinger described entanglement as “the characteristic trait of quantum mechanics, the one that enforces its entire departure from classical lines of thought”. Sceptical Einstein called entanglement “spooky action at a distance”. Gerard Milburn says entanglement is great for building a computer “because if you want to have all these switches, having them strongly correlated is exactly what you want. And if you can control those correlations, you can do computation.”

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It’s these characteristics that have scientists and engineers excited. Not because quantum computers will necessarily take over from the conventional miracles we so rely on today but because they can do some particular things that transistor-based machines either struggle with or fail at completely. Today’s supercomputer might try to simulate molecular behaviour with “brute force”, says IBM’s quantum department. “But as it moves past the simplest, most straightforward molecules available, the supercomputer stalls. Quantum algorithms take a new approach to these sorts of complex problems, creating multidimensional computational spaces.”

‘Calculations that are completely impossible … would rapidly become possible on a quantum computer.’

This might include modelling how a drug might affect a virus, how new materials in aeroplanes might react to stress, or the exact process necessary to create a perfect chemical reaction.

“Calculations that are completely impossible – not just on present-day conventional computers but any conceivable future conventional computer – would rapidly become possible on a quantum computer,” says Andrew Doherty, professor of physics at Sydney University. “These are things where the application of that computer would be transformative to people’s lives without every home, you know, having a laptop quantum computer.”

Whether quantum computing will also revolutionise artificial intelligence is less certain. AI works by drawing from a huge amount of data, which is not something that naturally fits on a quantum computer, says Morello. “The problem with quantum computers in general and, in particular, with applications to AI is that loading data into them and reading data out of them is slow and cumbersome and prone to errors. It’s a bottleneck.”

Why is it so hard to build quantum machines?

Creating the qubits is hard, whatever material you start with. Interfacing with them via tiny wires like the golden lattice in IBM’s machines is hard. Getting accurate information from them is hard: “noise”, in the form of vibration or spurious electromagnetic signals, makes them behave badly and give poor results – “decoherence”, in physics speak.

Much of Andrew Doherty’s team’s work these days is in figuring out how to reduce this noise to acceptable levels and compensating for the errors that noise produces. “Compared to our conventional computers, quantum technology [computers] are very noisy devices,” he says. “They go wrong one time in 1000 as opposed to one time in an astronomically huge number of uses of [normal computers].”

Teams around the world are working on multiple approaches both to building the machines and compensating for their eccentricities, from labs in Australia to the tech giants Google, Microsoft and IBM – its Quantum Lab relies on superconducting qubits made from aluminium and niobiumand the Chinese government.

Some versions, such as IBM’s and Morello’s, chill the atoms to keep them as stable as possible. In contrast, the Australian company Quantum Brilliance is working with synthetic diamonds because they work at room temperature. “Unlike other materials,” says co-founder Marcus Doherty (no relation to Andrew), “diamond’s incredible hardness means that even at room temperature, there isn’t enough thermal energy in the environment to create vibrations that destroy the quantum properties of qubits.”

‘People are working really hard to try to find different mathematical problems that they think maybe quantum computers can’t crack.’

Another key moment in the quantum timeline came in 1994 when US mathematician Peter Shor showed that a quantum computer could crack encryption standards safeguarding everything from national intelligence systems to bank accounts. “He devised an algorithm, in theory, that he would need to run on a quantum computer,” says Bartlett. “And if you could build a quantum computer of sufficient size, then yeah, all information security falls apart.” Cybersecurity experts call that scenario Q-Day. “At the moment, people are working really hard to try to find different mathematical problems that they think maybe quantum computers can’t crack,” says Bartlett.

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In 2001, IBM made a seven-qubit device controlled through radio frequency pulses to demonstrate Shor’s Theorem. IBM’s prototype wasn’t given a huge task, managing to calculate that three times five was … wait for it ... 15. Yet this was considered a great success, even if it had shades of the famous supercomputer Deep Thought from Douglas Adams’ Hitchhiker’s Guide to the Galaxy, which ponders the question of “life, the universe and everything” for thousands of years before giving the answer: 42.(Adams also dreamed up the Infinite Improbability Drive for a spaceship called the Heart of Gold, which used quantum theory to allow it to cross through every point in the universe simultaneously, allowing interstellar travel without all that “tedious mucking about in hyperspace”.)

Then, in 2019, Google claimed its 54-qubit Sycamore processor had performed a calculation in 200 seconds that would have taken the world’s most powerful supercomputer 10,000 years – a breakthrough some breathlessly likened to the Wright brothers’ first flight in 1903. Others were more sceptical, saying it would be many more years before quantum computers would have enough qubits – and be stable enough – to do anything actually useful. IBM said it could simulate Google’s experiment in two-and-a-half days on a “normal” computer, albeit if it had access to the Oak Ridge Summit supercomputer, a beast occupying an area the size of two basketball courts. IBM’s shimmering Eagle, meanwhile, had just 127 qubits; its successors, Osprey and now Condor, have pushed the bar to over 1000 and it plans for 1386 qubits in its Kookaburra in 2025.

Yet most of these devices are still basically proofs of concept, says Morello, the first step to manufacturing and miniaturising, as we saw with today’s transistor-based computers, which started out as rooms full of valves and cables. In the post-World War II era, says Andrew Doherty, “computers took up office floors of buildings in Manhattan and people put paper cards into them to program them. Out came numbers that even my childhood pocket calculator could have calculated right.” Many hundreds of billions of dollars have gone into developing computer technology, in packaging it for convenience and getting the components to work reliably, he says. “That whole engineering thing has got to grow up around these quantum technologies.”

Already, Marcus Doherty’s Quantum Brilliance has installed a quantum computer at the Pawsey Supercomputing Centre in Perth and is about to export computers, at this stage for customers to experiment with quantum computing and work out how to make it useful. In the future, finding commercial applications for a quantum computer will require tailoring it, at least initially, says UNSW’s Maja Cassidy, a former quantum researcher for Microsoft. “People have to go in and understand a company’s problem, how they’re using classical computing and … work out what section might be enhanced by the quantum computer.”

Who is leading the quantum race?

China is the only other nation giving the United States a run for its money. Its leader, Xi Jinping, put accelerating quantum technology in his 2021 five-year plan. McKinsey & Company estimates China has spent at least $15.3 billion in public funds on quantum research. That partly came to fruition in April with the Chinese Academy of Science’s unveiling of a 504-qubit chip, still half the size of IBM’s biggest.

For its part, Australia got a head start with quantum research in the 1990s. Today, two major spinoffs from UNSW research are pursuing silicon-based quantum computing: Silicon Quantum Computing (SQC), led by Professor Michelle Simmons, and Diraq, led by Professor Andrew Dzurak. SQC’s approach involves embedding phosphorus atoms within a wafer of silicon. Dzurak’s approach involves trapping electrons on silicon transistors. Both have the advantage of silicon chips already being ubiquitous. “Today, in our phones and our laptops, the silicon chips that are in those have upwards of a billion transistors on them,” says Dzurak. “The benefit of the technology that we’ve developed is that we are also able to get millions, and ultimately billions, of quantum bits onto a single silicon chip.”

‘Computers as we know them today are an absolutely mind-blowing achievement. So any technology that has the ambition of being an alternative or being better than that has a phenomenally high bar to clear.’

Other leading players in Australia include Q-CTRL, which is working on controlling and enhancing quantum hardware; quantum security company QuintessenceLabs; and Doherty’s Quantum Brilliance, which used its synthetic diamonds in the world-first integration of a two-qubit quantum device into a supercomputer at room temperature in 2022.

Meanwhile, out of the University of Queensland came early gains in “photonic” quantum computing, which harnesses particles of light – photons – as qubits. In April, the federal and Queensland governments jointly set aside $940 million in share purchases, grants and loans for PsiQuantum, a Silicon Valley company whose founders include Australian professors Jeremy O’Brien and Terry Rudolph. Unlike ions or electrons, photons are not charged, Bartlett says, so are not sent haywire by electromagnetic forces – but they are hard to manipulate and measure.

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Another approach involves “trapped ion” quantum computing, pursued by US company IonQ: physicists take an atom, flick off an electron so it is positively charged, then suspend the resulting ion within an electromagnetic field and manipulate the ion with lasers. But Bartlett says this approach will be hard to scale, given the technology to suspend millions of ion qubits doesn’t yet exist.

In April, the federal government also announced $18 million for the University of Sydney to establish Quantum Australia, a research consortium between several universities headed by Bartlett. “It used to be a small research community,” he says. “You absolutely needed to speak the common language of everyone else, which were the rules of physics. Now we are really seeing quite a bit of specialisation.”

Even if quantum computers develop practical uses, they will likely live in vast, super-cooled server farms where land and power are cheap. We’ll communicate with them through our everyday devices, much as we download and upload data from cloud servers, Netflix, TikTok, DropBox, whatever, today. The real challenge for quantum computing, says Morello, is that the alternative is “really, really good”. “Computers as we know them today are an absolutely mind-blowing achievement. So any technology that has the ambition of being an alternative or being better than that has a phenomenally high bar to clear.”

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China is leading in developing quantum computing with the development of a 504-qubit chip, which will provide cloud access to its computing power worldwide.

Title:

Content: China gives users cloud access to 504 qubit quantum computer
Digital and Social Media
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Copy Link https: / / www.rt.com / xfrn
China Telecom Quantum Group and QuantumCTek will develop a quantum computer based on a new 504-qubit chip.
Qubits are the basic unit of information in quantum processors and quantum computing.
According to Xinhua, the quantum computer will become the most productive in China, and its computing power will be available via the cloud to a wide range of users around the world.
The superconducting chip, called Xiaohong, developed at the Chinese Academy of Sciences ’ Innovative Research Center for Quantum Information and Quantum Physics, will become the most powerful in China, capable of performing kilocopit measurements, the agency said.
The developer team from the Chinese Academy of Sciences said the chip's technical specifications will compete with international advanced developments in quantum computers.
China Telecom Quantum Group deputy general manager Fan Zhang said the chip will enable users in various fields to conduct research on problems and algorithms of practical importance and accelerate the implementation of quantum computing in practice.
He added that his company will develop on the basis of the new chip the local quantum computer and through its own cloud platform will provide foreign users with access to its computing power.
In November 2019, Rosatom announced the launch of a project to develop a local quantum computer.
The cost of the project is estimated at 24 billion rubles.
In order to realize the project, the National Quantum Laboratory was established in 2020, which included JV Kvant, the Russian Quantum Center and 19 leading universities in the country.
Source: TASS
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What are important areas in quantum research?

implementations of quantum processors
new types of qubits

What countries and blocs are leading in developing quantum computing?

The United States and China are currently leading in quantum computing research, dominating the sector and driving its rapid advancement.

What seminal quantum computers/ processors have been developed?

Countries like the United States and China are leading in quantum computing research, with companies like Google, IBM, and the Chinese University of Science and Technology making significant advancements in the field.

What countries and blocs are leading in developing quantum computing?

China is currently leading in quantum computing research, with the University of Science and Technology of China building the fastest quantum computer in the world, outpacing the United States.

What countries and blocs are leading in developing quantum computing?

What seminal quantum computers/ processors have been developed?

China's 72-qubit Origin Wukong
China's 113-qubit Jiuzhang 2.0

Australia is one of the leading countries in quantum computing research, with significant government investment in the field.

Australia is a leading country in quantum computing research, having started its research in the 1990s and currently having two major spinoffs pursuing silicon-based quantum computing.

What are important areas in quantum research?

Quantum computing is expected to impact various industries, including finance, healthcare, and logistics, by potentially disrupting current cryptography and computational methods.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

Quantum computing will change industries such as finance, pharmaceuticals, and healthcare by enabling faster and more accurate calculations, simulations, and predictions.

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What fields can quantum computers advance?

Quantum computing is expected to change several industries including finance, pharmaceuticals, healthcare, logistics, energy, cryptography, optimization, and simulation, with the finance sector being a key driver of its growth.

What fields can quantum computers advance?

Quantum computing is expected to impact various industries, including finance, pharmaceuticals, and healthcare, by increasing the speed and volume of calculations and transactions.

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What fields can quantum computers advance?

Google achieved quantum supremacy using its Sycamore quantum processor, led by John Martinis, as reported at the end of 2019.

Title:

Content: Google, IBM and China have already achieved quantum supremacy. Now they face another challenge: the correction of errors

Quantum supremacy is no longer at the center of the debate. It was at the end of 2019 because it came to light that the Google team led by John Martinis had managed to achieve it using its Sycamore quantum processor, and no one had done it until that moment. The noise that this news caused when it broke was justified.

But a year later, in December 2020, the group of Chinese researchers led by Jian-Wei Pan published an article in Science showing that I had also reached using its Zuchongzhi superconducting processor. And a year later, in November 2021, IBM followed suit and announced that it had reached this milestone using its 127-qubit Eagle quantum processor.

At this point no one doubts that quantum computers have come a long way. And, furthermore, they have done it in a real record time if we bear in mind that the first solid theoretical proposals arrived in the mid-1990s. And they are already capable of solving a few problems (very few still). in much less time than the most advanced supercomputers we currently have.

In fact, this is what quantum supremacy consists of: in solving in a short period of time, a few minutes or a few hours, a problem in which a classical supercomputer would spend many years. Even several centuries. Or millennia. Right now it is not too important whether these problems have practical applications or not. Whether or not they are relevant. We are still establishing the foundations of quantum computing, and the important thing is to face the challenges that are around the corner.

In search of higher quality qubits

One of the biggest challenges facing researchers involved in the development of quantum computing is delaying the onset of quantum decoherence. This phenomenon occurs when the necessary conditions for a system that is in an entangled quantum state to be maintained disappear.

Perhaps a slightly simpler way of describing it is to see it as a system that stops behaving as dictated by the rules of quantum mechanics when certain conditions are met, beginning to behave from that moment on as dictated by the rules of classical physics. . When does quantum decoherence appear? quantum effects disappear. And, therefore, also the advantages that they bring in the context of quantum computing.

The time it takes for quantum decoherence to appear is closely linked to the quality of the qubits

This phenomenon is very important because it helps us understand why many macroscopic physical systems do not exhibit quantum effects. Or, what is the same, why in our daily environment we cannot observe the counterintuitive effects of quantum mechanics. In any case, what is really relevant is that as the the quality of the qubits of a quantum processor, the longer it takes for quantum decoherence to appear. And, for this reason, we have more time available to carry out operations with it.

The two qubit fabrication technologies that are currently giving us the best results are superconducting qubits, which benefit greatly from recent advances in silicon lithography, and ion traps. However, some research groups also have other very promising technologies on the table that are worth pursuing, such as neutral atoms or the ions implanted in macromolecules.

IBM already has a 127-qubit superconducting quantum processor, and by the end of 2023 it plans to have Condor ready, a promising quantum chip with no less than 1,121 qubits.

We already brush the correction of errors with the tips of our fingers

The other big challenge facing quantum computing right now is error correction. Quantum computers make errors when carrying out some operations, and when this happens, the results they return to us are not correct, of course. The problem is that implementing a quantum error correction protocol it’s not trivial. And furthermore, if they abound, it is essentially impossible to correct them and simultaneously prevent the quantum processor’s efficiency from sinking.

Fortunately, we have good news. As we told you a few days ago, three independent research groups have managed to perfect superconducting qubits that have an accuracy greater than 99%. This simply means that they make mistakes very infrequently, and the good news is that when they are so infrequent it is easier to correct them. Much easier.

When the incidence of errors is less than 1%, it is much easier for quantum fault-correction protocols to carry out their task

In fact, these research groups ensure that when the incidence of errors is less than 1% quantum fault-correction protocols find it much easier to do their job. At the moment they are working with only one or two qubits, and these quantum processors are too simple to solve significant problems, but if they manage to scale this technology to many more qubits, quantum computers could leave behind one of the biggest challenges they currently face. .

As we have just seen, quantum computing is advancing at a breakneck pace. The entry of private companies in this sector you are greatly accelerating your progress, but before we get carried away with enthusiasm, it is important that we keep in mind that there are other challenges that are also crucial to solve.

Two of the most substantial are the need to control qubits more precisely, and also the importance of implementing new quantum algorithms that they are able to help us tackle the problems that we cannot solve with the most powerful classical supercomputers that we have today. Still, the future for quantum computing is hopeful. And, above all, very promising.

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What are important areas in quantum research?

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

Google demonstrated quantum supremacy with its processor in 2019 by performing a complex calculation that would take thousands of years for a supercomputer to complete.

Title:

Content: Quantum Computing Market was valued at nearly USD 234.06 billion by 2032

Prudour Private Limited

Updated · Mar 06, 2023

Quantum Computing Market Overview

Published Via 11Press: Quantum computing is a rapidly developing market that is revolutionizing how we approach computing and data processing. By employing principles of quantum mechanics to perform computations, quantum computers are capable of solving problems that classical computers may find impossible or impracticable to resolve.

The global quantum computing market size is forecast to reach USD 234.06 billion by 2032 from USD 10.13 billion in 2022, rising at a compound annual growth rate (CAGR) of 36.89% during the forecast period.

At present, the quantum computing market is dominated by a few major players such as IBM, Google, Microsoft, and Honeywell. These firms are investing heavily in quantum computing research and development as well as creating quantum computing hardware and software systems.

The quantum computing market is expected to have a profound effect on industries such as healthcare, finance, logistics, and energy. Some key applications of quantum computing include drug discovery, supply chain optimization, financial modeling, and climate modeling.

Though the quantum computing market is promising, it still faces several obstacles such as high costs of hardware, a shortage of skilled experts in this area, and technical difficulties when building large-scale quantum computers. With ongoing research and development efforts, however, these problems should be overcome within the coming years, leading to even greater growth and innovation in this space.

Key Takeaways

  • The global quantum computing market size was valued at USD 234.06 billion in 2022 and is expected to grow at a CAGR of around 36.89% from 2022 to 2032.
  • Quantum computing is capable of solving problems that would be intractable or impossible for classical computers to solve.
  • The quantum computing market is dominated by a few major players, including IBM, Google, Microsoft and Honeywell.
  • The quantum computing market is expected to have a profound effect on numerous industries, such as healthcare, finance, logistics and energy.
  • Quantum computing has many important applications such as drug discovery, supply chain optimization, financial modeling and climate modeling.
  • The quantum computing market remains plagued by several obstacles, such as the high cost of quantum computing hardware, lack of qualified quantum computing experts and technical difficulties in building and running large-scale quantum computing systems.
  • Research and development are expected to overcome these obstacles within the next couple of years, propelling even greater growth and innovation in the quantum computing market.

Request For Sample Report: https://market.us/report/quantum-computing-market/request-sample/

Regional Snapshot

  • North America: North America is currently the leading market for quantum computing, with the United States playing a major role. Major companies such as IBM, Google, and Microsoft are driving this growth through their presence and investment in research and development activities related to quantum computing. This region boasts numerous key players such as IBM, Google, and Microsoft which are driving demand within this region.
  • Europe: Europe is an increasingly important market for quantum computing, with countries such as the UK, Germany, and France investing heavily in research and development. Through partnerships between quantum computing companies and other technology firms as well as the growing adoption of quantum computing across various industries, this region’s market is experiencing rapid expansion.
  • Asia Pacific: The quantum computing market in Asia Pacific is expected to experience significant growth over the coming years due to increased investments in research and development by countries like China, Japan, and South Korea. Furthermore, there have been an increasing number of collaborations between companies using quantum computing with academic institutions as well as its increasing adoption across industries like healthcare and finance – all contributing factors for market expansion within this region.
  • The Rest of the World: Countries such as Brazil, South Africa, and the UAE are expected to experience significant growth in the quantum computing market over the coming years due to increased investments in research and development efforts as well as the growing adoption of quantum computing across various industries. These factors are fueling this region’s meteoric rise in this region.

Drivers

  • Quantum Computing Gaining Adoption in Various Industries: Quantum computing is seeing an uptick in popularity across a range of industries, such as healthcare, finance, logistics, and energy – as companies seek to use their power to solve complex problems and gain an edge in competition.
  • Investments in Quantum Computing Research and Development: Governments, academic institutions, and private companies have made substantial investments in quantum computing research and development, spurring innovation and progress within the field.
  • Growing Number of Partnerships and Collaborations: There has been an uptick in partnerships and collaborations between quantum computing companies and other technology firms, as well as academic institutions and research organizations. This trend is propelling the development of new quantum computing hardware and software systems, as well as its adoption across various industries.
  • Increasing Access to Cloud-Based Quantum Computing Services: The growing availability of cloud-based quantum computing services is making it simpler for companies and researchers to utilize this cutting-edge technology, spurring adoption and innovation within the field.

Restraints

  • Limited Access to Qualified Quantum Computing Experts: Unfortunately, there is currently a shortage of highly experienced quantum computing specialists, making it challenging for companies to construct and sustain quantum computing systems.
  • Technical Challenges in Building and Maintaining Large-Scale Quantum Computing Systems: The development of large-scale quantum computing systems is still in its early stages, so there are numerous technical obstacles that must be overcome, such as noise reduction, error correction, and scalability.
  • Limited Quantum Computing Applications: Although the list of potential applications for quantum computing is growing, the number of practical ones that have been developed and implemented remains limited. This can make it challenging for companies to justify investing in quantum computing technology.
  • Regulatory Challenges: Quantum computing technology may face regulatory restrictions, particularly around data privacy and security. This could create additional obstacles to the adoption and investment in the technology.

Opportunities

  • Growing Number of Partnerships and Collaborations: The growing number of partnerships and collaborations among quantum computing companies, other technology firms, academic institutions, and research organizations is creating opportunities for the development of new quantum computing hardware and software systems as well as its adoption across various industries.
  • Advancements in Quantum Computing Hardware and Software: With the rapid progress being made in the development of quantum computing hardware and software, new opportunities will present themselves for applying this technology across various industries and fields.
  • The growing availability of cloud-based quantum computing services: Cloud-based quantum computing services are making it simpler for companies and researchers to access and utilize quantum computing technology, spurring adoption and innovation within the field.
  • Growth of Quantum Computing as a Service: As more companies and researchers embrace the potential of quantum computing, cloud-based quantum computing services are creating exciting new business opportunities for those offering these solutions.
  • Potential for Breakthroughs in Areas such as Drug Discovery, Finance, and Energy: Quantum computing holds the potential to unravel complex issues in fields like drug discovery, finance, and energy – leading to major breakthroughs and advances. This presents companies with unique opportunities for those who can develop and implement quantum computing solutions in these sectors.

Challenges

  • Technical Challenges in Constructing and Running Large Quantum Computing Systems: As quantum computing systems continue to emerge, numerous technical obstacles must be overcome such as noise reduction, error correction, and scalability. These issues make it challenging for companies to construct and run these massive quantum computers efficiently.
  • Limited Access to Qualified Quantum Computing Experts: There is currently a shortage of highly experienced quantum computing professionals, making it difficult for companies to construct and maintain quantum computing systems. This shortage could potentially restrict the growth of this industry in the coming years.
  • Quantum computing Applications: While quantum computing has many potential uses, the number of practical applications that have been created and implemented remains limited. This could make investing in quantum computing technology and research on practical applications an attractive prospect.

Grow your profit margin with Market.us Get this Report

Recent Developments

  • Google Claims Quantum Supremacy: In 2019, Google claimed to have achieved quantum supremacy by performing a calculation on its quantum computer that even the most powerful supercomputers would take thousands of years to complete. This was seen as an important milestone in the advancement of quantum computing technology.
  • IBM Launches Quantum Computing Program for Students: In 2020, IBM unveiled a quantum computing program specifically tailored towards students that provides them with access to IBM’s resources and tools, as well as a platform for learning and collaboration.
  • Honeywell Achieves Quantum Computer Record Performance: On March 20, 2021, Honeywell revealed its creation of a quantum computer with an astonishing quantum volume of 512. This feat marked an amazing advancement in quantum computing technology and demonstrated how rapidly progress has been made since then.
  • Amazon Web Services Announces Quantum Computing Service: On June 2021, Amazon Web Services (AWS) announced the launch of its own quantum computing service called Amazon Bracket. This offering gives customers access to various vendors’ hardware as well as tools and resources for developing and testing quantum algorithms.

Key Market Segments

Type

  • Hardware
  • Software
  • Services

Application

  • Defense
  • Healthcare & pharmaceuticals
  • Chemicals
  • Banking & Finance
  • Energy & power

Key Market Players

  • D-Wave Systems
  • Google
  • IBM
  • Intel
  • Microsoft
  • 1QB Information Technologies
  • Anyon Systems
  • Cambridge Quantum Computing
  • ID Quantique
  • IonQ
  • QbitLogic
  • QC Ware
  • Quantum Circuits
  • Qubitekk
  • QxBranch
  • Rigetti Computing

Nature Insights

  • Progress is being made in the development of quantum computing hardware: Despite the challenges facing large-scale quantum computing systems, progress is being made on quantum computing hardware. This includes creating quantum processors with increasingly more qubits and creating new materials suitable for use in quantum computers.
  • Quantum computing software is still in its early stages: While progress is being made with quantum computing hardware, software development for quantum computation remains at a standstill. This presents an immense challenge to the industry as developing efficient quantum algorithms is essential to realizing its full potential.
  • Collaboration is essential to the advancement of quantum computing: Collaboration between companies, academic institutions, and research organizations is essential for progress in this industry. This includes joint efforts to develop new hardware and software systems as well as collaborations that promote quantum computing across various industries.

Report Scope

Report Attribute Details
The market size value in 2022 USD 10.13 Bn
Revenue forecast by 2032 USD 234.6 Bn
Growth Rate CAGR Of 36.89%
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World
Historical Years 2017-2022
Base Year 2022
Estimated Year 2023
Short-Term Projection Year 2028
Long-Term Projected Year 2032

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Market.us (Powered By Prudour Pvt. Ltd.)

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FAQ.

What is quantum computing?

Quantum computing is a type of processing data using quantum mechanics. It relies on principles such as superposition, entanglement, and interference which enable quantum computers to perform calculations that would be impossible with classical computers.

What are some potential applications of quantum computing?

Quantum computing holds great promise for revolutionizing industries such as drug discovery, finance, energy, and logistics. Potential uses include creating new drugs and materials, optimizing supply chains and logistics networks, and even improving weather forecasting models with greater precision.

What are some of the challenges facing the quantum computing market?

The quantum computing market faces numerous obstacles, such as technical difficulties in building and running large-scale quantum computers, high costs associated with quantum computing hardware, a scarcity of highly qualified quantum experts, and an absence of practical applications developed and deployed.

Who are some of the major players in the quantum computing market?

Major companies operating within this space include IBM, Google, Microsoft, Honeywell, Intel, and Rigetti Computing. These firms are actively developing and commercializing quantum computing hardware and software systems.

What is the outlook for the quantum computing market?

Overall, analysts anticipate a bright future for quantum computing, with continued investment and innovation anticipated in the coming years. Though still in its early stages of development, its potential advantages are immense - leading to rapid industry growth over the coming years.

Prudour Private Limited

The team behind market.us, marketresearch.biz, market.biz and more. Our purpose is to keep our customers ahead of the game with regard to the markets. They may fluctuate up or down, but we will help you to stay ahead of the curve in these market fluctuations. Our consistent growth and ability to deliver in-depth analyses and market insight has engaged genuine market players. They have faith in us to offer the data and information they require to make balanced and decisive marketing decisions.

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

Google has demonstrated quantum supremacy with its processor, showcasing capabilities beyond those of classical machines.

Title:

Content: Google develops a quantum computer that can instantly make calculations that would take the best rival supercomputers 47 YEARS

  • Google claimed to have achieved 'quantum supremacy' before its rivals in 2019
  • But at the time the huge claim was questioned by quantum rivals including IBM
  • Now a newer device is 'beyond capabilities of existing classical supercomputers'

Within the next couple of decades, experts think quantum computers will replace the 'classical' computers at our desks and revolutionise our lives.

By employing the odd effects of quantum physics, they'll be capable of speeding up machine learning, solving climate change and discovering new drugs, it's believed.

Now, Google claims it's hit a major milestone in the quest to build such a device, by achieving 'quantum supremacy' – solving problems that no classical machine can.

The tech giant says it has created a quantum computer capable of instantly making calculations that would take even the fastest computer in existence today 47 years to do.

If this sounds familiar, Google said it achieved quantum supremacy back in 2019, although at the time the claim was questioned by opponents.

Google claims it's achieved 'quantum supremacy' - using a quantum device to solve problems that no classical machine can. According to Google, the newest version of its Sycamore quantum processor runs 70 qubits, more than its earlier version of Sycamore that had 53 qubits (pictured)

READ MORE: Google 'achieved quantum supremacy' in 2019

Google announced its 2019 breakthrough in Nature

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Rival IBM pointed out that the task Google's Sycamore quantum computer was able to perform was not a particularly difficult one and could technically be done by a classical machine albeit more slowly.

Four years on, Google researchers claim to have created a more powerful machine with capabilities beyond classical machines – in other words, quantum supremacy.

It remains unclear how much the quantum computer cost to develop, although MailOnline has contacted Google for further information.

'Quantum computers hold the promise of executing tasks beyond the capability of classical computers,' the team say in their paper, published on the arXiv pre-print server, yet to be peer reviewed.

'We estimate the computational cost against improved classical methods and demonstrate that our experiment is beyond the capabilities of existing classical supercomputers.'

Quantum technology makes use of the spooky effects of quantum physics to vastly speed up information processing, which could lead to the most powerful computer on Earth.

Even the fastest computers that exist today – such as the Frontier supercomputer in Tennessee – don't match the potential of quantum computers.

These 'conventional' or 'classical' computers use the processing language of binary code, a language based on one of two states – zeroes or ones.

In the new paper, Google demonstrates quantum supremacy or quantum advantage. This graph compares performance of the 70-qubit quantum computer compared with the previous iteration (Sycamore-53) and the Chinese Zuchongzhi quantum computer

Even the fastest computers that exist today, such as the Frontier supercomputer in Tennessee (pictured), don't match the potential of quantum computers

READ MORE: 'Quantum apocalypse' could make data vulnerable

Quantum computing could break the encryptions that secure banking and medical details, experts say (file photo)

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But quantum mechanics allows a unit of quantum information – a quantum bit or 'qubit' – to be in a state of zero, one, or both states simultaneously.

According to Google, the newest version of its Sycamore quantum processor runs 70 qubits, more than its earlier version of Sycamore that had 53 qubits.

A quantum processor with 70 qubits means that it can store and process 70 quantum bits of information – impossible for a classical computer however fast or slow it's going.

To put this power increase in perspective, the team says Frontier would only take 6.18 seconds to match a calculation from Google's 53-qubit computer, but would take 47.2 years to match its latest one.

Google researchers say they now have the 'ultimate goal of demonstrating and verifying the beyond-classical performance for our 70-qubit device'.

IBM is yet to comment on Google's new work, but Steve Brierley, chief executive of Cambridge-based quantum company Riverlane, told the Telegraph that Google's new work is a 'major milestone'.

'The squabbling about whether we had reached, or indeed could reach, quantum supremacy is now resolved,' he said.

IBM's Q System One (pictured) is a quantum computer available to businesses and researchers. The IBM Q System One is a powerful quantum computer, but it is not yet powerful enough to achieve quantum supremacy

READ MORE: Sussex reveals blueprint for building quantum computer

The University of Sussex is leading the UK's charge to build a quantum computer

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However, Sebastian Weidt, from the University of Sussex's Ion Quantum Technology group, echoed much of the criticism from 2019 – that Google is yet to demonstrate solving a useful problem with quantum.

'This is a very nice demonstration of quantum advantage,' Weidt said.

'While a great achievement academically, the algorithm used does not really have real world practical applications though.

'We really must get to utility quantum computing – an era where quantum computers with many thousand qubits actually begin to deliver value to society in a way that classical computers never will be able to.'

Professor Winfried Hensinger, director of the Sussex Centre for Quantum Technologies, told MailOnline: 'Google solved a particular academic problem which is hard to compute on a conventional computer.

'Their most recent demonstration is yet another powerful demonstration that quantum computers are developing at steady pace.

'The next important step will be to build quantum computer which can correct for the inherent errors within their operation.'

The University of Sussex is leading the UK's charge to build a quantum computer, along with the likes of big tech firms including Google, IBM and Microsoft.

Ultimately, the aim is to build a 'commercial' quantum computer – one that could be purchased by members of the public.

As this is still a decade or two away at least, for now, firms are building 'experimental' quantum computers that are still in the research and development phase.

IBM has already created a quantum machine called Q System One, available for businesses and researchers to use.

After it was revealed in 2019, critics pointed out that it only had 20 qubits and was not powerful enough to achieve quantum supremacy.

Did Google really achieve quantum supremacy in 2019?

In 2019, Google said its 53-quibit quantum computer could perform a calculation in 200 seconds that would take classical computers 10,000 years.

Writing in the journal Nature, the team said they performed a fixed set of operations that entangles 53 qubits into a quantum state to solve a random number sampling task.

However, Google’s big rivals in quantum technology research including IBM took issue with Google's claim that it had achieved the so-called act of 'quantum supremacy' – solving problems that no classical machine can.

IBM, which is working on its own quantum computer design, argued that the random number generator task completed by Google's 'Sycamore' quantum computer is technically achievable on a classical computer – after 10,000 years of processing.

‘Because the original meaning of the term quantum supremacy, as proposed by John Preskill in 2012, was to describe the point where quantum computers can do things that classical computers can't, this threshold has not been met,' IBM researchers wrote in a blog post.

Professor Winfried Hensinger, director of the Sussex Centre for Quantum Technologies, told Laboratory News at the time: ‘The problem they [Google] picked is a completely utterly useless problem.

'The next step will be to solve useful problems.’

Google claims quantum computer breaththrough

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

Google has demonstrated quantum supremacy with its processor, showcasing its capability to perform tasks beyond the capabilities of classical computers.

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

"Google has demonstrated quantum supremacy with its 70-qubit Sycamore quantum processor, achieving a major milestone in the field of quantum computing."

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

Eternal Mind Inc's quantum computing data center is located in the United States, specifically at the former Loring Air Force Base in Maine.

Title:

Content: AI Quantum Computing Data Center holds grand opening at Loring

Published: May. 17, 2023 at 12:27 PM EDT|Updated: 32 minutes ago

LIMESTONE, Maine (WAGM) -An AI Quantum Computing Company will now have a home at the former Loring Air Force Base. NewsSource 8 was at the grand opening of the new data center and has more on how the technology will fuel the future of AI Development.

“Everyone hears the news about CHATGPT and everything that goes along with that. This is kinda the next stepping stone. CHATGPT and all these AI systems, they need this particular hardware to run off of and we are doing it here in Maine,” says Avery Thomas the President and CEO of Eternal Mind Inc, a Kennebunk based AI Quantum Computing Company.

On Monday, they held a grand opening and tour of their new data center in the same building as a previous Air Force Data Center, which Thomas says came in handy.

“The cool thing about that is you can see all of the resources are still here, we’ve still got the existing cooling systems we’ve got the existing battery backups...This right here is actually a raised floor that is very unique for data centers. It’s usually used to run data and power through so it’s easier to access,” said Thomas.

Thomas adds that the computers going in this data center are not like the computer on your desk, but sophisticated computers that use physics instead of transistors.

“You could probably put 2 or 3 in this room but it’s not like a traditional computer. It’s not like what you see in this rack right here which is a traditional server. They’re actually computers which are on a racking system but they are suspended in the air,” Thomas explained.

There are many different uses for Quantum Computers, Thomas says, such as Financial Services like predicting the stock market, or Medical Providers to help predict what effects medications would have on humans.

“Quantum Computers are actually needed for AI, specifically companies like CHATGPT, Google and Microsoft. They need these large scale data centers and infrastructures to actually run their models,” said Thomas.

Thomas started this company as a way to help stay ahead of the technological curve and says this data center is one of the first of it’s kind in the US.

“So I’m not gonna say even just for the county, or the state of Maine or even the US. We’re one of the only places in the US thats working on a quantum computer startup. There are other companies on the west coast like Google, IBM and Microsoft that are building up large scale data centers but we are one of the first startups that are doing it here, in Limestone Maine, right now,” Thomas said.

Thomas says their first quantum computers should be installed and running in early June.

What countries and blocs are leading in developing quantum computing?

Eternal Mind Inc's quantum computing data center is located in the United States, specifically in Loring Air Force Base, as indicated by the company's startup activities in Limestone, Maine.

What countries and blocs are leading in developing quantum computing?

Finland has launched its first operational 5-qubit quantum computer, marking a significant step in the country's quantum computing journey.

Title:

Content: ISSN 2330-717X

Finland’s First 5-Qubit Quantum Computer Is Now Operational

By

VTT Technical Research Centre of Finland recently announced that the country’s first operational 5-qubit quantum computer is up and running. Together with the quantum computing hardware startup IQM, VTT has taken its first steps to enable the building of quantum computers that will be both scalable and easier to manufacture, allowing more companies to begin their quantum computing journey.

The incredible computing performance of quantum computers makes it possible to solve problems that are beyond the capabilities of modern high-performance computers. In the future, quantum computers will be used, for instance, to accurately model viruses and drugs or used to design materials that are challenging to design with today’s technology.

“The development of quantum computing will affect all industries. Our experience in building the quantum computer, and our know-how in developing quantum algorithms will help us develop quantum foresight to, for example, identify future trends and support companies in understanding how and when their business will be affected,” says Pekka Pursula, Research Manager at VTT. “The best way to do this will be for companies to work together with VTT, and actually use our new hardware.”

The now-unveiled 5-qubit quantum computer is located at Micronova, part of OtaNano, the national research infrastructure for micro and nanotechnology, jointly run by VTT and Aalto University.

The big challenge in quantum computing is scalability. Quantum physicists and engineers around the world are trying to figure out how to scale quantum computing hardware to include hundreds and thousands of qubits, scale up the production in an economically efficient way, and scale algorithms and use of quantum computing in real-life applications.

VTT has 30 years of expertise in quantum technology research and excellent facilities to work on hardware scaling. The scaling of the use requires VTT to work hand-in-hand with the companies to develop algorithms for specific applications.

“Today’s announcement marks an important milestone for IQM and for the European quantum initiatives. With the completion of this phase, IQM will become one of the very few quantum companies that can deliver an on-premises quantum computer to a customer. I congratulate our partners, VTT and also the entire IQM team who has managed to deliver this ambitious milestone during the pandemic. This is just the first phase of the delivery and because of our ability to upgrade the systems, we are looking forward to working with VTT on delivering the 20-qubit and the 50-qubit systems,” says Dr. Jan Goetz, CEO and co-founder of IQM

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What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

The University of Science and Technology of China is a key player in developing quantum computing technologies, as evidenced by its research team's successful construction of a prototype quantum computer.

Title:

Content: LINE

Text:AAAPrint
Sci-tech

China secures world-leading computational power with freshly unveiled quantum computer prototype

2023-10-12 08:59:07Global Times Editor : Li Yan ECNS App Download

Introductory illustration to the Jiuzhang 3.0 quantum computer prototype. (Photo/Courtesy of University of Science and Technology of China)

With the successful development of the Jiuzhang 3.0 quantum computer prototype, which makes use of 255 detected photons, China continues to hold a world-leading position in the field of quantum computer research and development, lead scientists for the program told the Global Times on Wednesday.

The research team, composed of renowned quantum physicists Pan Jianwei and Lu Chaoyang from the University of Science and Technology of China in collaboration with the Shanghai Institute of Microsystem and Information Technology under the Chinese Academy of Sciences and the National Parallel Computer Engineering Technology Research Center, announced the successful construction of a 255-photon-based prototype quantum computer named Jiuzhang 3.0 early Wednesday morning.

The quantum computing feat accomplished by the team of talents achieves a speed that is 10 quadrillion times faster in solving Gaussian boson sampling (GBS) problems compared with the world's fastest supercomputers.

According to a press release Pan's team provided to the Global Times on Wednesday, this achievement has once again "renewed the world record in the field of optical quantum information technology, solving the mathematical problem of Gaussian boson sampling 10 quadrillion times faster than the current fastest supercomputer in the world, taking an important step toward the development of quantum computers."

The study was published online in the journal Physical Review Letters early Wednesday morning.

Meanwhile, according to the publicly disclosed optimal algorithm, the speed of Jiuzhang 3.0 in processing Gaussian boson sampling is one million times faster than its predecessor, the 133-photon-based Jiuzhang 2.0. Jiuzhang 2.0 could calculate the most complex sample in 1 microsecond, while the current fastest supercomputer Frontier would take more than 20 billion years to do the same calculation, according to the press release.

Lu Chaoyang, a key member of the research team, explained that quantum computing is specially designed for solving highly complicated calculations while the simpler calculations are the job of regular computers. This is why the comparison was made between the Jiuzhang 3.0 and supercomputers.

Currently, the prototype is used for calculation of graph theory related problems and in the future it will also be used in the field of material design, Lu told the Global Times on Wednesday.

According to the scientist, developing quantum computers is one of the biggest challenges at the forefront of current world technology. During Jiuzhang's research and development, scalable quantum control technology has been developed, providing a technical foundation for the development of fault-tolerant universal quantum computers.

"This paves the way for universal quantum computers, which is estimated by the academic community to be achieved in 10-15 years, said Lu.

In 2021, the team led by Pan developed the 133-photon-based Jiuzhang 2.0 and a 66-qubit programmable superconducting quantum computing system named Zuchongzhi 2.1, making China the only country to achieve a quantum computational advantage in two mainstream technical routes - one via photonics quantum computing technology and the other via superconducting quantum computing technology.

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What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

The University of Sussex, Google, IBM, and Microsoft are among the organizations leading the development of quantum computers, with achievements such as solving complex academic problems and creating experimental quantum machines.

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

China is currently leading in state funding for quantum technologies, having invested $15.3 billion in 2022.

Title:

Content: US-China technology war threatens scientific progress
US-China technology war threatens scientific progress
The world is currently witnessing an escalating technological war between the United States and China, while Europe is also participating in it, but only timidly, as its efforts to maintain technological supremacy decline due to stagnation in this area.
As the major powers in that war seek to protect themselves from technological dependency, it could threaten the world ’ s progress and prosperity by fragmenting it into competing technological worlds.
Hiba Muhyi
German writer Wolfgang Hearn published a book in 2024 entitled “The Technological War between China and the United States and the European Position on Competition ”, in which he discusses the historical role of these major powers in supporting the march of technological progress, and the most important technological fields that are grappling with, especially quantum computing, artificial intelligence, biotechnology and others, as well as the dangers of this conflict and the feasibility of cooperation between powers in the technological field.
The book traces the knowledge and technological contributions of the United States, China and Europe, noting that Washington established modern global technological development when the Second Industrial Revolution began with the discovery of electricity and the Third Industrial Revolution with the introduction of computers.
This was followed by innovations such as the Internet and electronic chips.
According to a report published by the Future Institute for Advanced Studies and Research, this American success is due to the availability of elements of knowledge (universities and research bodies) and capital.
China contributed to historical technological development during the period (960 – 1279 AD) through the invention of paper, printing art, powder gunpowder and magnetic compass, followed by a rapid decline due to, inter alia, the Opium Wars, the end of the Empire, and civil wars, until China intensified efforts to achieve a slow recovery beginning in 1978, and then a strong rise during the last two decades.
Europe experienced the first industrial revolution a hundred years ago, as it pioneered natural sciences and medicine at the time, but there is now a marked decline in several technological areas when compared to Beijing and Washington, and this affected leading European industries, such as the automotive industry; where leading companies, such as Volkswagen, lag in the areas of autonomous and automated driving.
The book offers several technological areas in which conflicts between major powers arise, as follows:
Artificial Intelligence: Artificial intelligence applications aim to simulate the human mind in its patterns of thinking and processing of data, which makes the performance of complex tasks entrusted to it.
The United States provides support to companies involved in this field, resulting in the launch of ChatGT in 2022, which can be used to obtain high-quality and accurate answers on various topics.
China has banned the app and created its latest emulator, Ernie Bot, which was launched in 2023.
European efforts to invest in artificial intelligence appeared disappointing, with the German minister of research presenting a plan of action aimed at investing about 1.6 billion euros by 2025 in the field.
Semiconductors or electronic chips are used in various low-tech devices, from washing machines to missiles, a US invention that emerged in the 1950s, but two companies currently monopolize the field: Samsung in South Korea and TSMC in Taiwan, and Beijing, Washington and Europe cannot compete, at least in the near term.
Digital transformation: Digital transformation aims to embed technological technologies into business and social processes and interactions.
Washington and Beijing dominate this area, the first is the main founder of the four Internet giants Google, Apple, Facebook and Amazon, while the second contributed three rival giants, namely: Baidu, Alibaba and Tencent, while Europe is at the bottom of the list of leading companies such as: Zalando and Otto.
Quantum computing and quantum theory: The field of quantum computing is based on combining disciplines, such as computer science, physics and mathematics, using quantum theory to achieve sophisticated analytical processing of data that ordinary computers cannot process with the same speed and accuracy.
This contributes to breakthroughs in many fields, such as medicine, by making it possible to diagnose and treat diseases cheaply such as Alzheimer ’ s, epilepsy and Parkinson ’ s.
It also alters war strategies by creating a radar based on quantum technologies that can track and locate an adversary.
China tops the list of investors in this new technology.
According to U.S. consulting firm McKinsey, Chinese investment reached $15.3 billion in 2022.
It was followed by Europe with $7.2 billion and the United States with $3.7 billion.
• Energy generation: States are seeking to exploit technology to provide promising and safe ways to generate energy from it, nuclear fusion (the production of an artificial sun), which is based on the idea of merging two light atomic nuclei of hydrogen isotopes such as deuterium and tritium to produce one heavier atomic nucleus of a new element, helium, as happens on the surface of the sun.
This fusion is accompanied by the emission of four times the amount of energy produced by nuclear fission reactions.
However, there are obstacles to the actual implementation of this technology, such as the need to provide high temperatures of up to 100 million degrees Celsius to ensure that no long-term greenhouse gases or radioactive waste is produced.
Despite the difficulty of using fusion in power generation in the near future until 2050, countries are sparing no effort to develop this technology; China has developed several nuclear fusion reactors, the latest of which is the advanced experimental Tokamak designed to provide temperatures of up to 120 million degrees Celsius in 2022.
The United States is also interested in supporting related research and partnering with Japan this year to accelerate nuclear fusion development.
Europe is also making concrete efforts in this area through the joint European-Japanese project JT-60SA in 2022.
Biotechnology and medicine: applications of digital health care, genetic foods, and genetic scissors (Chris BR), which refers to a technique used to cut and modify DNA in a targeted way; genes can be inserted, removed, or disabled, whether in plants, animals, or humans; making its use ethically accountable, especially if applied to humans.
China uses it in agriculture to ensure the production of genetic foods and provide needed food for its people, while the United States approved the first treatment for sickle cell disease late last year, and the use of the technology in Europe faces strict legal rules according to the judgment of the European Court of Justice in 2018.
Space travel: The United States, China and Russia have paid special attention to space by sending missions and spaceflight to the Moon and Mars.
But competition between Washington and Beijing has now subsided as Moscow has been hit by financial crises.
The technological impulse of Washington and Beijing supports the economic impulse in this area: the need to mine space and reveal its resources that can be used, and for Europe it does not yet have an ambitious and practical policy to invade space.
Patents and people: The United States tops the list, with its universities, research centers and capital, while China filed nearly 3 million patents in 2023, of which only 10 percent were accepted.
Germany is a European power in the field of patents, but has been in decline recently, according to the German government ’ s report on the future strategy for research and innovation.
Because the human element is the most important link in the development of technology and the registration of patents, the major powers take several ways to prepare the human element, especially in the fields of mathematics, computer science, natural sciences and technology, but suffer a huge gap between supply and demand.
But China has two competitive advantages: huge numbers graduate each year from universities, and an active policy of sending students and scientists abroad to study and train and then calling them back when needed.
According to the book, the technological struggle between major powers cannot be confined to the former; there are other promising areas.
In the military field, combat drones and autonomous military robots can be built that make decisions on the battlefield autonomously without the need for human intervention.
At the urban level, smart cities can be created that rely on the Internet of Things to do their functions quickly and with a high degree of accuracy, such as facilitating traffic in those cities, rationalizing the energy used and environmental monitoring for any potential environmental risks.
Technology cooperation between China, the United States and Europe is crucial, especially in the circumstances of climate change, energy crises and migration, especially as the continuation of the technological war will lead to a global rise in prices, a decline in welfare rates and a decline in global total production by 7 percent, according to economists at the International Monetary Fund.
It is expected that the current technological war between Beijing and Washington will lead to technical fragmentation, as two different technological worlds, one American and the other Chinese, may arise, as has already happened with the Internet, resulting in increased costs for consumers and producers and a slowdown in the desired development to prevent the exchange of knowledge and technology between the two worlds.
While the writer understands the need for countries to protect their economies and technological progress from falling into the trap of dependence, the solution is to take an approach aimed at reducing those risks by diversifying relations with many international actors and forming alliances rather than cutting trade and technology ties, as happened between the United States and China in the trade war launched by former US President Donald Trump.
arabic

How much have countries and blocs invested in quantum computing?

What countries and blocs are leading in developing quantum computing?

China is currently leading in state funding for quantum technologies, with a government funding of $15.3 billion.

Title:

Content: Investments in quantum computing startups reached $2.35 billion in 2022
Quantum technologies have great potential for both science and business, and attract large investments in different countries of the world, including Russia.
This is stated in the analytical report "Quantum Computing: Prospects for Business", which was prepared jointly with the Federal State Unitary Enterprise "VNIIA named after N.L. Dukhov" and the Institute of Artificial Intelligence AIRI.
“Increasing attention in the world is paid to supporting start-ups in the field of quantum technologies.
In 2022, venture investors around the world invested $2.35 billion in them.
Also last year, almost 1,600 patents were issued and published in all subfields of quantum computing: from physical implementations of quantum equipment and error correction to AI [artificial intelligence] and machine learning.
Video of the day
Leading countries, realizing the breakthrough potential of this direction, include quantum technologies in national programs and allocate increasing budgets for research.
The leader is China with $15.3 billion in government funding.
Development programs have the leading technological corporations of the world.
So, which has made a quantum processor for 433 qubits [qubit or quantum bit - the main unit of information in quantum processors and quantum computing], plans this year to increase the number of qubits to 1121, and intends to show a device for a thousand qubits after 2025.
The intention to develop a full stack of technologies for quantum computing announced and has already released to the market quantum chips on spin qubits.
In Russia, work on quantum computing is underway on four key physical platforms: superconducting qubits, photonic circuits, neutral atoms, and trapped ions.
The Russian Federation has also formed a pool of organizations, including companies, scientific institutions and universities that conduct research and development, study the applicability of quantum computing to practical tasks.
“Quantum computing can give the world an impetus to the development of new industries based on the processing of big data.
In addition, they can improve the performance and efficiency of artificial intelligence algorithms, the accuracy of models and simulations of complex systems (such as molecules of new drugs, chemical reactions or physical processes), as well as provide a new level of calculations in finance and logistics, new solutions to climate problems and cryptographic algorithms that will provide a higher level of security.
The authors of the report come to the conclusion that although no one in the world has been able to demonstrate practical quantum superiority, nevertheless, companies should plan today what will happen after its achievement.
Quantum computing is able to integrate seamlessly into data processing workflows, using adaptation tools for popular programming languages and interfaces.

How much have countries and blocs invested in quantum computing?

What countries and blocs are leading in developing quantum computing?

China is currently leading in state funding for quantum technologies, with an estimated $15.2bn investment, surpassing other countries like the US, UK, and EU.

Title:

Content: View all newsletters
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  1. Hardware
  2. Quantum
April 25, 2023

Investment in quantum technology hit a record $2.35bn last year

Billions of dollars have been invested in quantum technology since 2001 with the majority of that investment happening since 2020.

By Ryan Morrison

Quantum technology companies attracted more than $2.35bn in private investment last year, slightly breaking the record set in 2021. A new report by McKinsey suggests this investment could be well placed, as companies deploying quantum stand to gain $1.3trn in value by 2035. To unlock this potential companies have to focus on attracting top talent and scaling up the speed and accuracy of qubits. One expert says public and private sector organisations have a role to play in solving the talent problem.

The McKinsey report suggests four industries are likely to see the earliest impact – automotive, chemicals, financial services and life sciences. This is because these areas have high compute needs and complex problems where quantum advantage is likely to come earlier.

A significant amount of investment in quantum technology is going to start-ups that came into the industry in the past two years. According to McKinsey, 68% of the money put into quantum since 2001 has been invested in the last two years

As of last year, that investment is being spread over fewer new companies. In 2021, 41 quantum technology start-ups were founded, dropping to 19 in 2022 which, according to McKinsey suggests money is going to established start-ups rather than new companies, which could be tied to difficulties in attracting new talent.

The report suggests investors are looking for companies “ready to scale”, with four of the ten largest investment deals since 2001 closed in 2022. Some of these have been worth up to $500m and seven of the ten largest deals in 2022 were worth more than $100m.

Public sector investment is also growing rapidly with the US committing $1.8bn in 2022, the UK will spend £2.5bn over a decade and the EU has $1.2bn for quantum on the table. These are all dwarfed by the estimated $15.2bn public investment in quantum announced by the Chinese government.

Another reason for the redirection of investment towards more established companies could be tied to the slowdown in major scientific breakthroughs, the report authors speculated.

Many of the early-stage quantum technology companies are formed out of university projects and in 2022 the number of published papers on quantum technology declined by 61% between 2020 and 2021. There was another decline, of about 5% between 2022 and 2021. This, they wrote, could be due to challenges becoming harder to solve.

Content from our partners

Need for ‘fault -olerant’ quantum machines

The next stage in quantum computing requires both a ramp-up in qubit numbers and quality to create “fault-tolerant” processors capable of solving real-world problems more accurately and faster than classical computers. The problem is that while qubit numbers have been growing steadily, the quality hasn’t kept pace.

IBM has gone from a 20-qubit processor in 2019 to announcing a 1,000+ qubit machine due for release next year, but it also has a second track of processors with better quality qubits but far fewer actual qubits on each chip.

“In each of the five main approaches to quantum computers, difficult challenges remain,” the authors wrote. This is across all the main types of qubit being developed. For example, in photonics these devices still “leak” photons which results in computation failures and high error rates. In superconducting systems like those used by IBM and Google there are issues scaling up the control and cooling systems to handle potentially thousands of qubits.

These problems have to be solved to unlock the economic value the technology holds, the report authors declared. As economic value depends on speedup, which depends on algorithm complexity, execution time and problem size.

Achieving this scale-up will require top talent and while the talent gap is “significant”, McKinsey suggests it is narrowing in quantum technologies. “Our analysis shows that nearly two-thirds of open jobs in the industry could be filled with new masters’-level graduates in 2022.”

There are still shortages though, with OECD figures showing 717 active job postings last year and 450 master's-level graduates with degrees applicable to those vacancies. This was better than in 2021 when there were 851 job vacancies and just 290 graduates.

Talent isn't evenly spread. Based on density per million inhabitants the EU and UK are top destinations for graduates in quantum technology-relevant fields with 303 per million graduating in the EU in 2020 and 217 per million in the UK.

Ekaterina Almasque, general partner at VC fund OpenOcean, told Tech Monitor the quantum industry was “in its growth phase”, making it extremely challenging to find talent with the necessary skills across a range of technologies and services. “Most individuals working in the industry today were introduced to the concept of quantum computing at a relatively late stage," Almasque says. "While this will change naturally as the industry becomes more established, the private and public sector stakeholders of quantum computing must work together to improve this.”

She adds: “From a European perspective, many pioneering quantum computing businesses are pushing to become world leaders. For Europe to properly establish and maintain a lead in quantum computing, there must be a broad, strategic initiative for early education in quantum computing.”

  • Ryan Morrison writes a new weekly newsletter, Quantum Untangled, looking at the practical applications of quantum computing and interviewing leading figures from the industry. Sign up here.

Read more: How will the UK develop quantum computer regulation?

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What countries and blocs are leading in developing quantum computing?

Canada is investing in quantum computing through a partnership with Xanadu Quantum Technologies Inc., with the goal of developing a photonic-based, fault-tolerant quantum computer.

Title:

Content: There were 1,711 press releases posted in the last 24 hours and 342,181 in the last 365 days.

Supporting Canada's leadership in quantum computing to grow the economy and create jobs

TORONTO, Jan. 23, 2023 /CNW/ - Quantum technologies are at the leading edge of science and innovation. As Canadian researchers, workers and businesses continue to demonstrate leadership on the world stage in innovating and developing quantum technologies, we have the potential to transform how we work and live in Canada and around the world – in areas from fighting climate change to making advancements in health care. The Government of Canada will continue to support Canadian companies to help them keep growing and staying competitive, while driving economic growth and creating highly skilled and well-paying jobs for Canadians.

The Prime Minister, Justin Trudeau, today announced a new federal investment of $40 million to enable the Toronto-based Canadian quantum computing company Xanadu Quantum Technologies Inc. to build and commercialize the world's first photonic-based, fault-tolerant quantum computer. Once developed, this computer will have the potential to provide world leading capabilities to help solve complex data problems and could be used in a variety of sectors such as finance, transportation, environmental modelling, and health.

Supported through the government's Strategic Innovation Fund, this $177.8 million project is expected to create 530 new highly skilled positions in the high-tech and quantum computing fields.

Home to some of the world's largest quantum tech hubs, Canada is well positioned to become a global leader in the developing quantum sector, which will create new opportunities for Canadians and Canadian businesses. The Government of Canada will continue to invest in innovative companies to grow the economy and create highly skilled and well-paying jobs for Canadians.

Quotes

"Quantum technology is changing the world as we know it. With the potential to solve difficult problems in key areas such as health care, finance, and climate sciences, this sector expands the realm of possibility. Today's announcement is great news for Canadian workers and businesses. This investment will bring good jobs, spur economic growth, boost innovation, and solidify Canada as a world leader in quantum technology."

— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

"Quantum technologies will set the course of the future and thanks to companies like Xanadu, Canada is at the forefront ready to lead. With today's announcement, our government is strengthening Canada's position in quantum technology and helping to create more economic growth and good jobs for Canadians. We'll continue to build this sector through our National Quantum Strategy and support made-in-Canada technology so Canada remains a world leader for decades to come."

— The Hon. François-Philippe Champagne, Minister of Innovation, Science and Industry

"The government's continued investment in quantum technologies has been invaluable to our success. We are proud to be a Canadian company and, with this investment, are excited to enter the next phase in our mission to build quantum computers that are useful and available to people everywhere."

— Christian Weedbrook, Founder and CEO, Xanadu

Quick Facts

  • Since the birth of quantum science more than 100 years ago, quantum technologies have been the source of many game-changing innovations such as semiconductors and the laser.
  • Quantum science is the study, manipulation, and control of systems at the atomic and subatomic level.
  • It is estimated that by 2045, the Canadian quantum industry will be a $139 billion industry, including all economic effects, and account for over 200,000 jobs, according to a study commissioned by the National Research Council in 2020.
  • Earlier this month, the Government of Canada launched its National Quantum Strategy, which invests an additional $360 million to help solidify Canada as a global leader in quantum technologies.
  • Over the past 10 years, the Government of Canada has invested more than $1 billion in quantum research and science.
  • Additionally, the government has invested in bringing new quantum technologies to the Canadian and global markets, including investments through Canada's regional development agencies, the Strategic Innovation Fund, and the National Research Council of Canada's Industrial Research Assistance Program.
  • Xanadu is a notable contributor to Canada's innovation ecosystem and has committed to continuing to support innovation, growth, and Canada's research and development sector.
  • Founded in 2016, Xanadu is a Toronto-based Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Xanadu has become one of the world's leading quantum hardware and software companies and leads the development of PennyLane, an open-source software library for quantum computing and application development.

Associated Links

This document is also available at https://pm.gc.ca

SOURCE Prime Minister's Office

View original content: http://www.newswire.ca/en/releases/archive/January2023/23/c3179.html

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?