The global quantum computing landscape is defined by intense competition among leading companies and countries, each striving for technological supremacy through substantial investments, research breakthroughs, and strategic policy initiatives.

The United States and China are the primary contenders, with significant contributions from the United Kingdom, Canada, Finland, India, and the European Union, all supported by a dynamic ecosystem of major technology firms and innovative startups .

**Leading Companies in Quantum Computing** IBM is widely recognized as a frontrunner, having delivered the first 1,000-qubit quantum chip in 2023, a milestone that underscores its focus on miniaturization and accuracy rather than simply increasing qubit counts .

IBM’s Qiskit software stack has been updated over 100 times to enhance quantum circuit performance and usability, making quantum algorithms more accessible for industrial applications .

The company’s roadmap includes a 4,000-qubit system by 2025 and the integration of quantum and classical resources into "quantum-centric supercomputing" .

Google achieved a landmark in 2019 by claiming "quantum supremacy" with its Sycamore processor, which performed a calculation in 200 seconds that would take classical supercomputers thousands of years .

Google continues to advance both hardware and software, aiming to improve computational capabilities and practical applications .

Microsoft is heavily investing in quantum computing, targeting a 4,000-qubit system by 2025 and focusing on integrating quantum and classical computing resources .

Its Azure Quantum platform provides cloud-based access to quantum and optimization solutions, supporting research and commercial applications .

Honeywell, through its subsidiary Quantinuum, has achieved a quantum volume of 512, demonstrating strong performance and reliability .

IonQ specializes in trapped ion quantum systems, known for their reliability and scalability, and holds a robust patent portfolio with 74 US-issued patents and 163 pending applications .

D-Wave Systems is recognized for its quantum annealing technology, which has been applied to optimization problems in logistics and finance .

Other notable companies include Intel, which leverages its semiconductor expertise to develop silicon spin qubits, and Amazon, which has established the AWS Center for Quantum Computing to support research and industry adoption .

Startups such as Xanadu Quantum Technologies in Canada, supported by a $40 million federal investment, are developing photonic-based, fault-tolerant quantum computers .

The UK’s Quantum Motion has raised $50.5 million to develop scalable quantum computers, reflecting strong investor interest .

**Leading Countries and National Investments** The United States leads in quantum computing research and development, with both government and private sector investments.

The US government has initiated legislative efforts such as the Quantum Computing Cybersecurity Preparedness Act and has implemented export controls to restrict sensitive technology transfer, particularly to China, due to national security concerns .

Illinois, for example, has proposed a $500 million investment package to attract quantum computing jobs and establish a quantum campus .

China is a formidable competitor, having invested approximately $15 billion in quantum technology and achieving significant milestones such as the Jiuzhang 3.0 quantum computer and the 24-qubit Wuyan system .

The Chinese government has prioritized quantum technology in its national strategy, with analysts predicting that China may surpass the US and Europe in quantum-related research and development .

The United Kingdom has tripled its investment in quantum technology to £29.5 billion, supporting high-growth projects and a sector that has grown by 81% over the last decade, contributing approximately £1.7 billion to the economy .

The UK’s National Quantum Strategy aims to enhance industries including finance, healthcare, and climate change.

Canada is positioning itself as a global leader, with the government investing $40 million in Xanadu Quantum Technologies and launching a National Quantum Strategy to strengthen its quantum sector .

Finland has launched its first operational 5-qubit quantum computer in collaboration with startup IQM, supported by government initiatives to advance quantum technology across industries .

India’s National Quantum Mission, approved in April 2023 with a budget of ₹6,003 crore (~$725 million), aims to develop a quantum ecosystem focused on intermediate-scale quantum computers and secure quantum communications .

The European Union is also ramping up investments to establish a competitive edge in the global quantum race .

**Successes and Lessons Learned** IBM’s delivery of the first 1,000-qubit chip and Google’s demonstration of quantum supremacy are landmark achievements, demonstrating the rapid progress in hardware capabilities .

Honeywell’s quantum volume of 512 and D-Wave’s deployment of the HONE Quantum Powered AI Engine at the Port of Los Angeles, which doubled cargo handling productivity, exemplify real-world applications and performance improvements .

In finance, CaixaBank implemented a quantum computing application for investment portfolio selection, achieving a 90% reduction in computing time .

Goldman Sachs is exploring quantum computing for complex derivative pricing, aiming to reduce time and costs .

IBM’s Quantum Accelerator program and collaborations with companies like Bosch and HSBC are facilitating the application of quantum computing in materials science, supply chain optimization, and sustainable finance .

A key lesson is that technical challenges remain significant, including high hardware costs, a shortage of skilled professionals, and difficulties in scaling quantum systems .

Many quantum computers are still proofs of concept, with practical, large-scale applications in development .

The complexity of error correction, quantum decoherence, and the need for robust, fault-tolerant systems are ongoing hurdles .

Collaboration is essential for progress, with partnerships among companies, academia, and research organizations driving innovation and workforce development .

For example, Memorial University in Canada and Xanadu are developing quantum education resources, while the University of Southern California has launched a $1 billion initiative for computing research and education, including quantum computing .

**Security Implications and Strategic Responses** Quantum computing poses a significant threat to current encryption methods, prompting urgent efforts to develop post-quantum cryptography (PQC) standards .

The National Institute of Standards and Technology (NIST) is actively working on PQC standards, and organizations are encouraged to begin transitioning to quantum-resistant technologies immediately .

Cybercriminals are already engaging in "harvest now, decrypt later" attacks, collecting encrypted data for future decryption once quantum capabilities mature .

Quantum Key Distribution (QKD) is being explored to secure communications, and various initiatives are underway to develop cryptographic standards that can withstand quantum attacks .

The interplay between quantum computing and cybersecurity necessitates collaboration among governments, academia, and industry to mitigate risks .

**Patent and Intellectual Property Trends** The patent landscape in quantum computing is rapidly evolving, with a surge in filings by leading companies to secure technological innovations .

IonQ, for example, holds 74 US-issued patents and 163 pending applications, while other major tech companies such as Microsoft, Amazon, and Google are actively pursuing quantum computing patents .

The US has implemented export controls and blacklisted certain Chinese entities to prevent sensitive quantum technologies from reaching potential adversaries .

**Investment Trends and Market Growth** Global investment in quantum technology has surpassed $36 billion, with major contributions from the US, China, the UK, Canada, and other countries .

The global quantum computing market is projected to grow from USD 10.13 billion in 2022 to USD 234.06 billion by 2032, at a compound annual growth rate of 36.89% .

The UK government’s £2.5 billion investment strategy and India’s National Quantum Mission exemplify the scale of national commitments [

The global quantum computing landscape is defined by intense competition among leading companies and countries, each striving for technological supremacy through substantial investments, research breakthroughs, and strategic policy initiatives.

The global quantum computing landscape is defined by intense competition among leading companies and countries, each striving for technological supremacy through substantial investments, research breakthroughs, and strategic policy initiatives.

The global quantum computing landscape is defined by intense competition among leading companies and countries, each striving for technological supremacy through substantial investments, research breakthroughs, and strategic policy initiatives.

The United States and China are the primary contenders, with significant contributions from the United Kingdom, Canada, Finland, India, and the European Union, all supported by a dynamic ecosystem of major technology firms and innovative startups .

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.

Title:

Content: Americas

  • United States

Asia

Oceania

UK Editor

11 notable post-quantum cryptography initiatives launched in 2023

Feature
Oct 09, 202310 mins
SecuritySecurity PracticesThreat and Vulnerability Management

With “Q-Day” in the foreseeable future, the security community is working towards cryptographic encryption that can withstand post-quantum threats

Credit: Microsoft

The point at which quantum computers will be capable of breaking existing cryptographic algorithms -- known as "Q-Day" -- is approaching. It's a juncture that's been discussed for years, but with advancements in computing power, post-quantum threats are becoming very real. Some security experts believe Q-Day will occur within the next decade, potentially leaving all digital information vulnerable under current encryption protocols.

Post-quantum cryptography (PQC) is therefore high on the agenda as the security community works to understand, build, and implement cryptographic encryption that can withstand post-quantum threats and attacks of the future.

"PQC migration provides an opportunity to re-evaluate the larger cybersecurity landscape," Dylan Ruddy, a lead scientist within Booz Allen's quantum sciences team, tells CSO. By integrating new PQC algorithms into a zero-trust architecture, cybersecurity infrastructure can be redesigned into a new crypto agility framework, he says.

"A redesign to these new agile security principals would allow system stakeholders to respond to new threats introduced by emerging technologies by investigating existing cryptographic assets, identifying new cryptographic threat surfaces, and integrating new cryptographic solutions."

Here are 11 notable initiatives, programs, standards, and resources launched this year to help the creation/development of and migration to PQC.

IETF launches working group to coordinate quantum-resistant cryptographic protocols

In January, the Internet Engineering Task Force (IETF) launched the Post-Quantum Use In Protocols (PQUIP) working group to coordinate the use of cryptographic protocols that are not susceptible to large quantum computers. "The idea of the working group is to be a standing venue to discuss PQC from an operational and engineering side," said Sofia Celi, co-chair of PQUI. "It is also a venue of last resort to discuss PQC-related issues in IETF protocols that have no associated maintenance on other working groups that the IETF has."

The IESG said the working group has been set up on an experimental basis, and in two years, it intends to review it for rechartering to continue or else closure. In August, the group published the Post-Quantum Cryptography for Engineers paper to provide an overview of the current threat landscape and the relevant algorithms designed to help prevent those threats.

UK publishes National Quantum Strategy to steer technical standards

In March, the UK government published a new National Quantum Strategy detailing its 10-year plan for leading a quantum-enabled economy, recognizing the importance of quantum technologies for the UK's security.

The UK will work with relevant global bodies to ensure that global quantum technical standards promote its prosperity and security interests, including accelerating the commercialization of quantum technologies and supporting the sector in the UK, outlined the strategy.

The UK will also work with key partners to scope and identify the best approach to coordinating national engagement in priority areas of quantum technical standards development. Relevant industry and academia will be engaged in these efforts to track priority standards activity, raise stakeholder awareness, and develop roadmaps to support UK engagement with quantum standards development, it added.

"There are a number of early quantum standardization activities taking place globally with significant focus on quantum-safe cryptography and quantum key distribution (QKD), with UK leadership in these areas," the strategy read.

In March, quantum security vendor QuSecure claimed to have accomplished the first known live, end-to-end quantum-resilient cryptographic communications satellite link through space. It marked the first time US satellite data transmissions had been protected from classical and quantum decryption attacks using PQC, according to the company. The quantum-secure communication to space and back to Earth was made through a Starlink satellite working with a leading global system integrator (GSI) and security provider.

This is significant because data shared between satellites and ground stations travels through the air and traditionally has been vulnerable to theft, leaving satellite communications even more accessible than typical internet communications, the vendor said.

QuSecure, Accenture achieve successful multi-orbit data communications test secured with PQC

Later in the same month, QuSecure announced it had collaborated with Accenture to accomplish the first successful multi-orbit data communications test secured with PQC. This demonstrated that crypto-agility, successfully rotating to a less vulnerable algorithm, is real and possible, achieved through an Accenture-facilitated low earth orbit (LEO) data transmission, the vendor said.

Prior to this advancement, data from multi-orbit satellites could be collected and potentially broken by classical means and quantum computers with enough power, QuSecure added. The transmission included a switch over from LEO to a geosynchronous orbit (GEO) satellite and back down to earth, as a model for redundancy in the event of a breach, failure, or threat to satellites in a single orbit.

"As more organizations are increasingly relying on space technology to provide solutions, resiliency and more relevant information, security of those systems and the data is paramount," commented Paul Thomas, space innovation lead for technology innovation at Accenture.

NCCoE addresses preparing for the adoption of new PQC algorithms

In April, the US National Cybersecurity Council of Excellence (NCCoE), a collaboration of cybersecurity experts from the public and private sectors, released a draft publication addressing preparation for adopting new PQC algorithms. Migration to Post-Quantum Cryptography extended the typical message of urgency to plan for migration seen in federal mandates to members of the private sector.

NCCoE said it would be engaging with industry collaborators, regulated industry sectors, and the US government to bring awareness to the issues involved in migrating to post-quantum algorithms and to prepare the crypto community for migration.

PQShield supports PQC migration, advanced side-channel secured implementations

In May, PQC standards company PQShield signed a Memorandum of Understanding (MoU) with Tata Consultancy Services (TCS), a leading IT Services, consulting, and business solutions organization, to help clients transition to quantum-secure solutions. It also announced a collaboration with eShard, a side-channel analysis and testing tools provider, to further accelerate advanced side-channel secured implementations of PQC that are critical for high-security standards across industries.

"Quantum computers pose a particular threat to large organizations given the sprawling nature of their cryptographic infrastructure and their reliance on secure communications," said Ali El Kaafarani, CEO and founder of PQShield. "We're seeing a significant shift in the commercial landscape as more of these businesses wake up to the urgency of the problem and seek out a solution."

X9 announces initiative to create PQC assessment guidelines

In June, the Accredited Standards Committee X9 Inc. (X9) announced a new initiative to create PQC assessment guidelines to act as a roadmap for PQC transitions. It invited participants to take part in the effort. When completed, the X9 guidelines might be used by an organization as a self-assessment tool, as an informal assessment of a third-party service provider, or as an independent assessment by a qualified information security professional, X9 said. An auditor or regulator might also refer to the assessment guidelines which could form a foundation for crypto agility standardization, it added.

"It will be important to have PQC assessment guidelines available before transitions are underway, for consistency to make the process as smooth as possible and the outcomes optimal," said Michael Talley, chair of the X9F1 Cryptographic Tools working group.

Google readies Chrome for future attacks with quantum-resistant encryption

In August, Google announced it was taking a major step in making web browsing safe from future quantum computers by adding Chrome support for quantum-resistant encryption. Dubbed X25519Kyber768, the new quantum-resistant cryptography will be a hybrid mechanism that combines the output of two cryptographic algorithms to encrypt Transport Layer Security (TLS) sessions.

These are X25519, an elliptic curve algorithm widely used for key agreement in TLS today, and Kyber-768, a quantum-resistant Key Encapsulation Method (KEM). The new hybrid encryption has been made available in Chrome 116, and behind a flag in Chrome 115.

"Google's announcement of shielding encryption keys in Chrome from quantum computers is very forward-looking," said Pareekh Jain, chief analyst at Pareekh Consulting. "Quantum computers' serious adoption is a few years away, but messages have a risk of getting stored now and decrypting later."

NIST publishes draft PQC standards for global framework

In August, the US National Institute of Standards and Technology (NIST) published draft PQC standards designed to form a future global framework to help organizations protect themselves from quantum-enabled cyberattacks.

The standards were selected by NIST following a seven-year process which began when the agency issued a public call for submissions to the PQC Standardization Process. NIST called for public feedback on three draft Federal Information Processing Standards (FIPS), which are based upon previously selected encryption algorithms.

The public-key encapsulation mechanism selected was CRYSTALS-KYBER, along with three digital signature schemes: CRYSTALS-Dilithium, FALCON, and SPHINCS+. It is intended that these algorithms will be capable of protecting sensitive US government information well into the foreseeable future, including after the advent of quantum computers, incorporated into three FIPS: FIPS 203, FIPS 204, and FIPS 205, NIST said.

CISA, NSA, NIST issue PQC migration resource

In August, the US Cybersecurity and Infrastructure Security Agency (CISA), National Security Agency (NSA), and NIST published a factsheet on the impacts of quantum capabilities. It urged all organizations, especially those that support critical infrastructure, to begin early planning for migration to PQC standards by developing their own quantum-readiness roadmap.

Quantum-Readiness: Migration to Post-Quantum Cryptography outlined how organizations can prepare a cryptographic inventory, engage with technology vendors, and assess their supply chain reliance on quantum-vulnerable cryptography in systems and assets. The factsheet also provides recommendations for technology vendors whose products support the use of quantum-vulnerable cryptography.

"PQC is about proactively developing and building capabilities to secure critical information and systems from being compromised through the use of quantum computers," said Rob Joyce, director of NSA cybersecurity. "The transition to a secured quantum computing era is a long-term intensive community effort that will require extensive collaboration between government and industry. The key is to be on this journey today and not wait until the last minute."

Tech community launches PQC Coalition to drive understanding, adoption

In September, a community of technologists, researchers, and expert practitioners launched the PQC Coalition to drive progress toward broader understanding and public adoption of PQC algorithms. Founding coalition members include IBM Quantum, Microsoft, MITRE, PQShield, SandboxAQ, and the University of Waterloo.

The PQC Coalition will apply its collective technical expertise and influence to facilitate global adoption of PQC in commercial and open-source technologies. Coalition members will contribute their expertise to motivate and advance interoperable standards and technical approaches and step forward as knowledgeable experts in providing critical outreach and education.

The coalition will initially focus on four workstreams:

  • Advancing standards relevant to PQC migration.
  • Creating technical materials to support education and workforce development.
  • Producing and verifying open-source, production-quality code, and implementing side-channel resistant code for industry verticals.
  • Ensuring cryptographic agility.
UK Editor

Michael Hill is the UK editor of CSO Online. He has spent the past 8 years covering various aspects of the cybersecurity industry, with particular interest in the ever-evolving role of the human-related elements of information security. A keen storyteller with a passion for the publishing process, he enjoys working creatively to produce media that has the biggest possible impact on the audience.

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U.S. Blacklists Chinese Quantum Computing Groups

The U.S. Department of Commerce has placed several quantum computing entities from China into its Entity List preventing them from access to quantum technologies developed in the U.S. Quantum computing technologies could be used to modernize capabilities of the People's Liberation Army as well as facilitate the decryption of U.S. encryption technologies. In addition, the DoC blacklisted 19 entitles from Pakistan, Japan, Singapore, and Russia.

In recent years Chinese researchers have made quite a number of quantum computing breakthroughs, which could provide the country and the PLA with the capability to build counter-stealth and counter-submarine applications, to break U.S. encryption technologies and/or develop unbreakable encryption. The U.S. believes that such capabilities contradict with the country's national security and foreign policy interests, which is why it added Hefei National Laboratory for Physical Sciences at Microscale, QuantumCTek, and Shanghai QuantumCTek to the Entity List.

Quantum computing is a relatively new technology that promises to increase the performance of computers by orders of magnitude. Along with performance come new applications that computers can be used for, so getting these technologies into the hands of potentially hostile nations is clearly not in the U.S. interest.

But many of China's quantum computing efforts have been enabled by technologies and machinery made in the USA. Requiring American companies to obtain export licenses (which will be denied in most cases) in order to sell their products to certain entities. This may be an efficient instrument for the U.S. government to at least slowdown development of Chinese quantum computing capabilities.

"This is a sensible move and an important reminder of the scope and scale of China’s efforts to achieve technological breakthroughs that erode U.S. national security,” Martijn Rasser, a former CIA official who heads the technology and national security programme at the Center for a New American Security think-tank, told Financial Times.

In addition to the Chinese entities, the U.S. blacklisted 13 companies from Pakistan that contributed to the country's unsafeguarded nuclear activities and ballistic missile programs. Also, it put the Moscow Institute of Physics and Technology to the Entity List since the organization develops military end-use products.

"Today's actions will help prevent the diversion of U.S. technologies to the PRC's and Russia's military advancement and activities of non-proliferation concern like Pakistan's unsafeguarded nuclear activities or ballistic missile program," said Gina M. Raimondo, U.S. Secretary of Commerce. "The Department of Commerce is committed to effectively using export controls to protect our national security."

Along with three Chinese quantum computing entities, the U.S. DoC put several aerospace and semiconductor companies into the Entity List as they assisted China or Pakistani military efforts. In total, there are 12 new Chinese companies (and two of their subsidiaries in Japan and Singapore) in the Entity List:

  • Hefei National Laboratory for Physical Sciences at Microscale
  • QuantumCTek
  • Shanghai QuantumCTek
  • Xi'an Aerospace Huaxun Technology
  • Peaktek Company
  • Poly Asia Pacific
  • Shaanxi Zhi En Electromechanical Technology
  • Corad Technology (Shenzhen, Singapore, Japan)
  • Hangzhou Zhongke Microelectronics
  • New H3C Semiconductor Technologies
  • Hunan Goke Microelectronics
  • Yunchip Microelectronics

China claims that the U.S. exercises its ability to blacklist Chinese companies due to political and economical, but not national security reasons.

"The US has repeatedly generalized the concept of national security and cracked down on Chinese companies by abusing its state power," said Chinese Foreign Ministry spokesperson Zhao Lijian, reports GlobalTimes. "The action has seriously hurt Chinese firms' interests, broken the international order and free trade rules, as well as seriously threatened the global industry and supply chains."

Title:

Content: Quantum Computing Comes To The Rescue?

Sep. 22, 2022 1:41 AM ETNVO1 Comment
Derek Lowe
3.69K Followers

Summary

  • Let's look at another aspect of the general computational enthusiasm that we're seeing in drug discovery these days.
  • Building the hardware for a working quantum computer is extremely difficult, as is keeping it working once you've built it.
  • So there are, in the end, a number of important choices to be made when you start talking about quantum computing for the life sciences.

Let's look at another aspect of the general computational enthusiasm that we're seeing in drug discovery these days. As you read my opinions, though, keep in mind that I've seen several cycles of this over a > 30-year career, so I can't help but be informed (or perhaps misinformed?) by that experience. But not many of us have had thirty years of thinking about the subject of this press release from Novo Nordisk (NVO), which announces their foray into quantum computing.

This part of the blog post is where the background on that concept should go, but I'm manifestly unqualified to deliver it. Broadly put, it's easy enough to define - this is the application to computational methods of the phenomena that can only occur meaningfully down at the quantum level, things like entanglement, superposition, and interference. There's no one thing that encompasses all the possible techniques of quantum computing (as far as I know!) but all of the proposals plan to use these effects to do things that simply can't be accomplished out here in the bulky world. You hear an awful lot of hand-waving talk about that step, stuff about "doing all the computations at once" and so on, and from what I do know about the subject you'd be better off ignoring that. But it does seem certain that quantum-based algorithms exist (or can exist) that would provide remarkable advantages over what can be accomplished classically. You're not breaking out of the Church-Turing thesis, though: anything that a non-quantum computer can accomplish, theoretically, can be accomplished by a quantum one (of whatever sort), and vice versa. But there are opportunities for huge accelerations in how quickly those results can be obtained.

Actually realizing those advantages, though - that's been hard. There was a claim of "quantum supremacy" from Google (GOOG, GOOGL) not too long ago (a result that was obtained far more efficiently than any classical system could have), but not everyone in the field believed that, to put it lightly, and recent results bear out that skepticism. Building the hardware for a working quantum computer is extremely difficult, as is keeping it working once you've built it. And no matter how well you build it, you're going to have to deal with quantum decoherence: the idealized particle-in-a-box of quantum chemistry courses can sit there platonically and not interact with its environment, but that's not what's going out here in the real world, particularly the real world where you'd like to read out the states of all these qubits at the end of the process. You will gradually (or maybe not so gradually) lose the specialness of the quantum states that you have gone to such trouble to obtain, so a big part of any working quantum computer is going to be some really robust error correction techniques.

Another big part of any such system is going to be software that takes maximum advantage of the quantum technology you're using. That's not so simple, either. There are some algorithms that have proven to mesh extremely well with quantum phenomenon (I discussed some of those in this post, which I think is the last time I dove into this topic), but it's safe to say that a lot of effort has been going into identifying more such techniques in the expectation that we're going to have hardware to run them on at some point. And that brings us, at last, to Novo Nordisk!

The press release announces an effort "to establish the first full-scale quantum computer for the development of new medicines", but as you will see if you read on, that's not all. Very quickly we find out that this machine is also expected to provide breakthroughs in the study of climate change and the "green transition". In fact, the whole thing turns into a dump-truck delivery of buzzy phrases. Personalized medicine? Yep! Human microbiome studies? Of course! Large-scale genomics data? Naturally! New sustainable materials, decarbonization, cybersecurity, energy solutions - it's all in there. And to be fair, sure, one could imagine that wildly more capable computational resources could indeed come in handy in all those fields. To the credit of Novo Nordisk and the Danish government, this is a twelve-year initiative, the first seven of which are expected to be spent in just figuring out what sort of quantum computer to build, which seems at least fairly realistic.

But in each case, you're going to run into the same fundamental problem: faster computers are only going to be wonderfully helpful for processes whose rate-limiting stops involve the speed of computation. That might sound obvious or tautological at first, but think about it. This all gets back to the same things that I keep saying about (for example) AlphaFold - that as great an accomplishment as it is, it is not going to lead to an immediate revolution in drug discovery because our biggest problems do not depend on knowledge of protein structure and thus can't really be accelerated by it much. Similarly, having something that can sort through massive mounds of (say) genomics data would be useful - but what would be even more useful is understanding what those results mean and what to do with them. That's a slower process, for sure. Look at that AlphaFold-driven work that I was writing about the other week: if you suddenly gave that team access to a working quantum computer, what would they be able to accomplish with it under present conditions? Generate fairly unreliable docking-and-scoring results much more quickly? What does that buy you? (Please note - I'm not putting down that paper or the people who wrote it at all! If you read it, you can sense their own frustrations with the state of the computational tools that we have now, and I'm sure that just speeding those up would not be the first thing they'd wish for).

So there are, in the end, a number of important choices to be made when you start talking about quantum computing for the life sciences. First off, you have to decide what sort of quantum computational technique you're going to be using. Then you have to decide how to realize that in actual hardware. After that, you have to find algorithms that will take maximum advantage of your new machine. Then you have to very carefully pick the problems for which those algorithms will fit the best, and finally, you will want to narrow down on the problems that have been waiting for just the sorts of results you will now be able to deliver. What we'll be left with after these selection steps will only become obvious with time. And effort. And lots and lots of money.

Disclosure: None

Original Post

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.

This article was written by

3.69K Followers
Derek Lowe, an Arkansan by birth, got his BA from Hendrix College and his PhD in organic chemistry from Duke before spending time in Germany on a Humboldt Fellowship on his post-doc. He's worked for several major pharmaceutical companies since 1989 on drug discovery projects against schizophrenia, Alzheimer's, diabetes, osteoporosis and other diseases. To contact Derek, email him directly: derekb.lowe@gmail.com (mailto:derekb.lowe@gmail.com)

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What skills do you need to start a career in quantum?

2 hours ago

Quantum combines quantum mechanics with physics, maths and computer science to innovate and solve problems. It’s an exciting area to break into.

Quantum tech is perhaps not as well-known as other areas of tech, but there is no doubt that its influence is growing – and that means it is a good area to look into if you’re an ambitious person with an aptitude for computers and maths.

Lots of Big Tech companies are betting on quantum as a driver of innovation for the future. Currently, much of the quantum knowledge is evolving in the academic world, but businesses are beginning to sit up and take notice of the tech’s potential thanks to industry-academia collaborations.

In Ireland, Trinity College Dublin has recently formed an alliance for quantum computing skills with industry players IBM and Microsoft. Smaller companies have joined the alliance, too, including Horizon Quantum Computing, a Singapore-based quantum tech company headed up by Irishman Dr Joe Fitzsimons. He spoke to SiliconRepublic.com last year when his company expanded into Ireland, announcing several new jobs for Dublin.

So, what kind of skills do you need if you want to break into quantum computing and how difficult is it to establish a career in the sector?

To answer the second question first, you will most likely need a university qualification – possibly to postgraduate level. Quantum is complex and even academics who work on advancing research in the field are sometimes stymied by problems in the field.

That said, Irish universities’ determination to make quantum skills accessible for everyone means there are a lot of postgraduate programmes that have been developed in consultation with the likes of IBM.

If you’re looking to brush up on your skills casually, Google has made its Quantum Virtual Machine available to the public free of charge so everyone can learn quantum programming skills. There is also the option of online courses, available from the likes of Skillnet Ireland, as well as Udemy and edX.

Technical, mathematical and soft skills

Maths is definitely a skill you need for quantum. Specifically, linear algebra, probability theory and statistics. Computer science skills such as algorithms, programming and data structuring are required in combination also.

It goes without saying that you need to know the quantum lingo, too. This means a decent grasp of quantum theory and mechanics. Keep up with developments that are happening in quantum science and know how the industry is using the tech for different purposes. Specialist publications like Quantum Zeitgeist are good for this. If you are able to talk the talk with quantum, you can explain to businesses how they can benefit from the tech but you have to understand it first, so know your stuff – and your qubits.

Because quantum is such a complex area, it can be easy to put all of the focus on technical skills, but like any other career area it demands soft skills, too. Communication is important. Analytical and creative skills are definitely an asset, as are research skills for this fast-growing, young technology.

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By Blathnaid O’Dea

Blathnaid O’Dea joined Silicon Republic in 2021 as Careers reporter, coming from a background in the Humanities. She likes people, pranking, pictures of puffins – and apparently alliteration.

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**Leading Companies in Quantum Computing** IBM is widely recognized as a frontrunner, having delivered the first 1,000-qubit quantum chip in 2023, a milestone that underscores its focus on miniaturization and accuracy rather than simply increasing qubit counts .

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Moonshooters
What America’s largest technology firms are investing in

Their focus is on the metaverse, cars and health care

WHEN CORPORATE bosses want to impress investors they increasingly reach for the i-word. Mentions of “innovation” during the earnings calls of S&P500 firms have almost doubled in the past decade. And no other sector talks about it as much as the technology companies do. For Hewlett-Packard, a printer and personal-computer maker, innovation has on occasion become what location is to estate agents and education to Tony Blair: so important it has to be said three times in quick succession.

Do they protest too much? Throughout that decade some critics held that the technology sector was not delivering as much innovation as it should. When Tim Cook, the boss of Apple, said that 2020 was the firm’s “top year of innovation, ever” thanks to the release of the new iPhone, Mac and other devices and services it was possible to feel he might be going some way towards making the critics’ case for them. The things the products could do and the ease with which they did them represented a remarkable achievement. Yes, computing power kept increasing, and software kept doing more. But where were the flying cars, robot footmen and headsets through which to meld minds?

In 2020 a report by an antitrust subcommittee in America’s Congress argued that the dominance of big tech had “materially weakened innovation”. The giants, it said, accrue big benefits from the network effects which make having the most users the best way to add new users; they add to the protection such moats provide by pre-emptively acquiring potential rivals. Stamping out such “killer acquisitions” was one of the aims of President Joe Biden’s executive order on increasing competition last year.

One counter-argument to this is that competition in tech is far from dead. It is hard to find a part of the industry where two or more of the “Big Five”—Alphabet, Amazon, Apple, Meta and Microsoft—are not facing off against each other. Another is that when it comes to technological innovation, competition is not necessarily the thing that matters most.

When the twin foundations of the computer age, the transistor and Claude Shannon’s theory of information, came out of Bell Labs in the mid-20th century, it was not because the labs’ owner, AT&T, was facing lots of scrappy competitors. It was because it wanted to make and own the future. Rob Atkinson, head of the Information Technology and Innovation Foundation, a think-tank, argues something similar is true today: the Big Five are “oligopolists which use their market power to win the next big thing.”

Having gone through exponential growth themselves, they are all well aware that missing the next transformative change could see them thrown out of the future-making game. To get a sense of their strategies The Economist has analysed a range of data on the Big Five’s activities, including the technology focus of the companies they have recently acquired and of those they have taken minority stakes in, their employees’ profiles on LinkedIn and their publications and patents. The work provides a sense of where this phenomenal spurt of investment is headed.

That America’s big tech companies are spending a truly vast amount on R&D is not in doubt. In 2020 America’s public and private spending on R&D added up to $713bn. In 2021 the Big Five spent $149bn, equivalent to roughly a quarter of that total (though some of that money is not spent in America). That is significantly higher than the largest single government R&D budget, that of the Pentagon.

A lot of that spending is in product development, and it is true that the tax regime encourages spending to be put down as R&D if possible, which can distort things. But that can hardly explain the 34% increase since 2019: the tax regime has been unchanged throughout that time.

Capital expenditure—which mostly goes towards data centres, but also in Amazon’s case fulfilment centres—has also grown, to $131bn a year. In the past 12 months the Big Five’s share of cashflow from operations invested in R&D and capital expenditure was 53%. That compares to a median of 32% for all S&P500 firms.

One reason for truly vast spending is truly vast companies. The revenues of the Big Five, which have a combined market value of over $9trn, almost tripled between 2015 and 2020. But though when expressed as a proportion of sales increased investment looks more modest, it is still real (see chart 1). Spending on R&D rose by a third over the same period, from about 9% of sales to 12%, and capital expenditure grew by more than a quarter, rising two percentage points to about 9% of sales.

But a crucial part of it is that there are specific goals the firms want to achieve that require a lot of R&D. Apple is on the lookout for the piece of hardware that will become the new iPhone, be it a car or virtual-reality (VR) headset. Amazon is relentlessly trying to improve the efficiency of its warehouses and delivery system and expand the range of industries making use of Amazon Web Services. For Meta, which has seen its main offering, Facebook, eschewed by younger people, a new big thing may be the only way to secure survival: its recent name change will be for naught without the new tech to back it up.

Researchers at the Big Five published over 16,000 scientific papers in the five years to 2019, and their topics provide some insights into what is going on. Core businesses are being burnished—a recent paper from Amazon discusses ways of “avoiding duplicates in the search results”—and some esoteric possibilities explored—a paper from a team with members in Google Research provides insights into a “human surgical sample from the temporal lobe of the cerebral cortex”. But different publication policies at different companies make it hard to put the data to quantitative use.

Alphabet is generous when it comes to publication, seeking to attract researchers who wouldn’t join a company which required them to hide their light under a bushel. As a result Alphabet looks good in measures based on publications: it is the fourth-highest-ranked corporate institution in the current edition of the Nature Index, which measures the impact of academic research in the sciences (Roche, a Swiss health-care firm, tops the list). Apple is much stricter about publication. But that doesn’t mean it is less innovative.

Cars, the metaverse and everything

Analysts reckon that somewhere between 5% and 20% of the tech giants’ massive R&D spending goes towards what, for the purposes of this article, we are calling “frontier technologies”: the metaverse, autonomous vehicles, health care, space, robotics, fintech, crypto and quantum computing. (Artificial intelligence, AI, is now so ubiquitous that we are not counting it as a frontier in itself.) We looked at acquisitions, investments and employment data to see which of the companies seemed most interested in what.

Over the past three years the Big Five have acquired 110-odd companies, according to data from PitchBook, a research outfit (these data do not include the $69bn acquisition of Activision Blizzard by Microsoft announced this week, which is reported on in the Business section). There is a limit to how much these data can reveal. In most cases the deal size was not made public and many smaller acquisitions are treated as recruitment and so not in the data. Believers in “killer acquisitions” may see some of these deals as attempts to hinder innovation rather than accelerate it. But even if that is the case, they show where the companies are focused.

Of the 40-odd deals that came with figures attached, the total valuation was roughly $50bn. Over a quarter of the firms acquired specialised in AI or in crunching vast data sets. Perhaps a quarter of them were developing frontier technologies (see chart 2 for a breakdown).

Microsoft is the big spender. In April it agreed to buy Nuance Communications, a health-care-focused cloud and software provider, for $19.7bn, in the largest acquisition for which we have data in the past three years. It has also bought startups which facilitate cloud services, such as Mover.io, which helps businesses shift data to the cloud, and CloudKnox, a cyber-security firm. Google, which lags behind Microsoft and Amazon in its cloud offering, snapped up three cloud-based startups, including Actifio. It also bought three wearables firms, including Fitbit, on which it spent $2.1bn, reflecting its growing interest in health care.

In terms of single-mindedness, the clearest signal is Meta’s pursuit of all things metaverse. Of the 13 firms that work in augmented reality (AR) or VR which were bought for a public price, Meta bought eight, including BigBox VR and Downpour Interactive. Apple bought another four, including Next VR and IKinema. But its highest priority by this measure was AI. Of its 22 purchases since 2019 more than half have been AI-related startups.

Another window into the priorities of four of the five companies is where they choose to take minority stakes. Of the 101 companies in which PitchBook data show the firms investing over the past three years more than a third are active in frontier technology. The exception here is Apple, which makes very few such investments, none of which have been in the frontier areas.

Here, too, the choices are revealing. Take the five investees that make cars. Amazon invested in two, Aurora and Rivian. The latter, in which it has a 20% stake, went public in November and is valued at $67bn. On top of this, last year Amazon bought Zoox, which like Aurora focuses on autonomous vehicles, for $1.3bn.

Analysts suspect Amazon’s immediate interest in the sector lies in the possibility of making its delivery service cheaper and more efficient—it has already ordered 100,000 delivery vans from Rivian. The investment may be comparable to the company’s purchase of Kiva Systems, a robotics firm, in 2012. Kiva’s technology now helps Amazon’s warehouses run smoothly.

Google also invested in two self-driving-car companies: Waymo, a firm originally spun out of X, the tech giant’s in-house “moonshot” unit; and Nuro, an autonomous-delivery company. Apple, which in 2019 acquired Drive. AI, a self-driving-car startup, is mostly working on its self-driving cars in-house. Its Project Titan aims to launch a vehicle in 2025. This week Microsoft joined the race, with an investment in Wayve, a London-based self-driving-car firm.

Overall, 9% of the investments made by the big tech companies are in cars and mobility, compared with just 2.4% for the venture-capital industry. Indeed, all of the frontier technologies except for crypto boast a share of Big Five investment higher than that for VCs in general. Overall 37% of big tech investments, by number, were on the frontiers, as opposed to around a quarter for venture investors in general.

Alphabet, Amazon and Microsoft also all have separate investment subsidiaries. Since 2019 Alphabet’s venture-capital arms (Gradient Ventures and GV) and its private-equity unit (CapitalG) have cut about 400 deals. Around 100 of those have been for firms that work in life sciences or health care—an area tech firms see as appealing in part because of AI’s increasing applicability to biology. You can now “write RNA structure on a computer like it’s a piece of software,” says Tom Slater of Baillie Gifford, a large asset manager that invests in tech firms. Google’s venture-capital investments include Editas Medicine, a genome-editing company, and Adagio Therapeutics, a drug-discovery firm.

Another 45 investments from Google’s financing arms have been in fintech firms such as Botkeeper, an automated book-keeping service. Other tech firms are making similar moves. Apple acquired Mobeewave, a payments startup, in 2020 to turn iPhones into mobile contactless payment terminals. Last year Amazon bought Perpule, an Indian fintech firm, and is working with Goldman Sachs to expand the company’s loan offering.

Perpule and a number of other fintech firms are part of another trend: of the 101 firms the tech titans have taken a stake in since 2019, 24 hail from India, more than any other country except America. Amazon has built up a stake in BankBazaar, a Chennai-based online financial marketplace. In 2020 Google said it planned to invest $10bn in Indian tech firms over the next five-to-seven years. Overall big tech looks far more willing to invest in India than American VC firms are.

Another way to gauge where technology firms are placing their bets is to look at the people they employ and those whom they want to employ. The Economist examined the LinkedIn profiles of employees at the Big Five for the most-used keywords (see chart 3). Again, the data from Meta are very metaversal. We found some experience of working with AR or VR in 2-4% of the profiles associated with Meta’s employees, more than with any other firm.

Quantum of employment

According to Thinknum Alternative Data, a research firm, the tech giants are looking to hire in these areas too. Among the Big Five job listings mentioning AR or VR jumped from about 75 in August 2020 to 567 today. Meta and Amazon are posting about 200 such jobs each at the moment—a striking fact given that Amazon employs 20 times as many people as Meta does. A similar uptick can be seen in car-related listings. Some hires are high-profile. In June Apple hired Ulrich Kranz, formerly a senior executive at BMW’s electric-vehicle unit, to beef up Project Titan. It has also snapped up two executives from Tesla.

There is growing interest in quantum computing, if from a low base. On average around 0.5% of staff at Big Tech firms refer to quantum on their LinkedIn pages. Amazon and Alphabet are mentioning it more when advertising vacancies. In July Google announced a big step in quantum error suppression, vital if the technology is to be commercialised. Kevin Scott, chief technology officer at Microsoft, sees investment in quantum computing as a necessity for the company. “If such a [quantum-computing] machine were to exist in the future it would be important that Microsoft has one,” he says. Such fears of missing out can drive huge research projects.

Other forms of data support much of what our research suggests. Take patents. Microsoft, Amazon and Google have all recently applied for quantum-computing-related patents. More than half of Meta’s patent applications since 2019 mention AR or VR. On earnings calls Meta, unsurprisingly, bangs on about the metaverse; Microsoft and Google are much more likely to talk about the AI which will underpin most of the new tech frontiers.

None of this is to say that Mr Atkinson’s oligopolists are investing in a way likely to maximise innovation itself, let alone the economic and social benefits it can bring. It is hard not to believe that the sheer size of these incumbents constitutes some sort of block on radical attempts to reinvent the world. But though each company has its particular interests, our picture of their priorities shows that in many sectors there really is significant competition.

And for all that innovation is an easy word to throw about, throwing huge amounts of money and resources at it is much harder. Far better that big tech should do that hard work than just sit on its backside maximising its rents.

This article appeared in the Briefing section of the print edition under the headline "Big tech’s private passions"

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Commercial Availability, Consequences Best Approach for Post-Quantum Transition

The technological research arm of the Department of Homeland Security is working to better understand what it will take for a successful transition to post-quantum cryptography across all agency components, focusing on education and use case testing.

Ann Cox, the technical lead at DHS’s Science and Technology Directorate, spoke with Nextgov about her office’s initiatives surrounding quantum technologies, particularly how to best usher in a widespread migration to secure post-quantum cryptography prior to the advent of working quantum computers.

Describing quantum technologies as both a threat and a promise, Cox said the migration for public and private sector networks will require a large overhaul of the equipment to evaluate if it is capable of functioning securely with future quantum machines.

“We need to inventory our networks and look at what devices currently use cryptography,” she said. “You look at the equipment, you look at the algorithms in use, you look and see if that equipment happens to be what they called ‘crypto agile’, meaning that you can actually replace that algorithm with one that is quantum-resistant.”

DHS is one of the agencies with a structured plan to transition to quantum-resilient machines and technology, once the best practice standards are finalized by the National Institute of Standards and Technology by 2024.

Synching the availability of quantum-resilient commercial technological products and NIST standards will be key to the widespread adoption of post-quantum cryptography, Cox said, along with incentives to ensure everyone makes the transition.

“The best way to do this is to have commercial products that are NIST-compliant, and that we’ve purchased those and put them in place as they’re available,” she said. “I don’t think it’s going to work to have either a massive push to transition to post-quantum encryption or just say ‘you got to do this.’ There’s got to be some kind of a follow-up. And consequences if we don’t.”

While post-quantum encryption technology and algorithms are still in development, Cox’s office has been researching and examining where the technology is likely to make an impact.

As the largest law enforcement organization in the country, DHS is focused on how quantum technologies will impact this specific sector. Cox said the S&T is overseeing use case studies cross-departmentally with entities such as the Coast Guard, the Federal Emergency Management Agency and the Cybersecurity and Infrastructure Security Agency to study how quantum computing stands to impact these industries.

Cox also discussed her office’s education initiatives, mainly through a Quantum Information Science Community of Interest forum hosted across all DHS elements. She said the attendance has steadily grown as more people want to learn about how quantum can impact their work.

“We’ve…talked about quantum sensing, quantum computing, quantum simulation, quantum networks,” she said. The S&T is engaging with private sector companies as well as academia to further research in these areas.

source: NextGov

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 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’s Qiskit software stack has been updated over 100 times to enhance quantum circuit performance and usability, making quantum algorithms more accessible for industrial applications .

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India is not too late in quantum computing: Tata Institute of Fundamental Research's Rajamani Vijayaraghavan

Investment in quantum tech has crossed $36 billion globally. It is billed to be the next big thing in tech after semiconductors and artificial intelligence. Tata Institute of Fundamental Research (TIFR) scientist says India is lagging, but can catch up

April 06, 2023 / 11:23 AM IST

Professor Rajamani Vijayaraghavan

When Professor Rajamani Vijayaraghavan was not present at a quantum tech conference in New Delhi last week, he was missed by his peers.

As scientists, bureaucrats, military officers and startup executives gathered for a conversation on the way forward for India’s quantum technology ambitions, the general feeling was that Vijayaraghavan should have been there.

Quantum computing taps the unique behaviour of quantum physics to solve certain problems that are too complex for traditional computing.

If semiconductor technology was the first giant leap in computing and Artificial Intelligence is the current disruptor, it is probably going to be quantum technology next. Quantum computing, conceived by Nobel Prize-winning physicist Richard Feynman in the early 1980s, was mostly studied in university labs in the US and Europe until the turn of the millennium.

As advances took place, tech behemoths like Google, International Business Machines (IBM) and Intel threw their hat in the ring with billions of dollars in investment. According to an estimate, China has invested $15 billion even as global funding in the technology has topped $36 billion.

At the New Delhi conclave last week, a senior defence official said the wars of the future will be fought on the quantum front. While sizeable quantum computers do not yet exist, the fear among governments and industry is that it will be a Y2K moment once the technology comes to life.

Apart from strategic affairs, quantum tech is also expected to play a central role in areas like drug discovery, financial modelling, weather forecasting and fighting climate change.

Moneycontrol spoke with Professor Vijayaraghavan, a quantum computing scientist at Tata Institute of Fundamental Research (TIFR) who returned to the country a decade ago after studying at the universities of Cambridge, Yale and Berkeley, to take stock of India’s progress in the area.

Edited excerpts:

At the quantum tech conclave in Delhi last week, it seemed as though most Indian quantum start-ups are working on secure communications rather than quantum computing. Why so?

See, in terms of the technology required for doing quantum key distribution (for secure communications), or associated areas like quantum random number generators, it is now fairly well developed internationally. Also, the essential tools and core pieces of hardware and things you need are relatively low-cost and easily available, compared to quantum computing.

If you shift to quantum computing, even if you just take a very basic estimate, it needs about a million dollars just to set up a very basic lab. This was the kind of funding that was given to me when I started in TIFR about 10 years ago, just to have a very basic setup and do simple experiments.

I'm not even talking about the resources you need to develop prototypes and technology. And even this $1 million is an underestimate, because there are other facilities, which were already existing in the institute for device fabrication, clean rooms, and other tools. If I count all of those, then you are talking about a couple of million dollars, at the very least, to get started.

Now, of course, a company could hire these resources from other places. But such facilities don't exist in India, and as of now, even internationally, they are limited, where a company with no infrastructure of their own, but just the idea and expertise could go to a place and say, hey, you know, here is my design, manufacture this for me, and we will put it together.

Experts say that India first missed the bus in taking a lead in semiconductor technology and now even in artificial intelligence. They say it is now or never if we want to be leaders in quantum computing. What is your take?

I broadly agree with it, but let me expand on that. Before something becomes close to technology, there is decades of basic research where they are not even thinking about technology. I started my PhD in the year 2001, i.e. over 22 years back. And that was a turning point when the field of quantum computing was taking off. That was on the back of basic research in quantum computing from the 1980s.

It is absolutely true that if you want to do this, you have to do it now. And with this particular technology, we are not so far behind. Barring a few areas where things have sort of more or less been figured out, we still need several breakthroughs. Even though it looks like IBM has reached so many qubits (a qubit is the basic unit of information in quantum computing) and Google that many, they still don't have a useful quantum computer today. None of these quantum computers that exist anywhere in the world are really useful in the sense that they can replace something to do the work much better.

At how many qubits do you think we can solve real world problems better than existing supercomputers?

It really depends on what you mean by qubits. So there is this notion of physical qubits and logical qubits. The difference is that physical qubits are unstable. Unlike conventional bits in our regular computers, which are extremely stable, and you don't have to worry about them at all, these things are not stable. They actually randomly change their state and give rise to errors. And this happens over a certain timescale, which can be as short as 10s of microseconds or a few milliseconds.

Today’s quantum computers are essentially limited in how long you can use them, or essentially, what is the longest calculation you can run before you can't trust the results of what the computer is outputting. This is a fundamental problem across all quantum computing platforms today. There are some clear paths to solve this, but it is not clear which particular method would win.

And this is where I want to go back to my earlier point that India is not too late. If we invest now, we could create those breakthroughs that can make this technology useful. If enough people start working, and it's not just one or two people in the entire country, then you can hope that these breakthroughs can happen here. And then that will allow us to take a lead in some areas.

In your estimate, how many people are working on quantum computing in India vis-a-vis the US or other countries?

For superconducting qubit research, as of now, there are four people in India. I was the first one who started about 10 years ago, and then two others started maybe about six and four years ago, and one has just joined.

In the US, there are at least 20 or more academic labs, in addition to Google, IBM, or national labs like Fermilab, and I'm not even counting theoretical groups. Many of them have been working for over 20 years or so. And you know, similarly, in Europe, there will be at least 10 to 15 labs just in superconducting quantum computing.

If you look into some of the other subfields like trapped ion quantum computing, it's even smaller.

One of the major issues in advanced research is brain drain. Many of our best researchers still tend to settle abroad. Is more funding alone going to solve this to an extent? What tipped the scales for you to return?

Decisions about moving back to India can be very complicated, you know. There are all kinds of personal and professional reasons, but the point is very simple. You cannot attract someone to come to India to work in a field that requires a certain level of investment by telling them that we will not give it to you.

For me, I always wanted to come back to India and do something if it is possible. And once I finished my PhD, I started looking around and realised that there are lots of labs, which are fairly high-tech and at the cutting edge. Funding seemed to have improved in the previous few years or decade. It was important that I would be able to do the kind of research I was interested in doing rather than compromise. If that had not happened, I would have taken up a job abroad.

Has the funding scenario gotten better since then?

It's now becoming better, at least among the bigger institutes, but it's still quite a challenge. There is no real guarantee that you will get the kind of funding needed for experimental quantum research, and we are trying to solve this problem with the new funding programmes.

There is a reluctance to invest so much money in a new person. The idea of a startup grant is very clear in the West – your offer letter clearly says that you will get $1 million and you have to spend it in the next four to five years… everything is spelt out. We are not able to do that.  You have to keep your fingers crossed and hope for the best.

This actually does pose a barrier to entry because it's not competitive. If I have offers from an Indian institute, where everything is ambiguous, and some other foreign Institute, where everything is clearly spelt out, then it is very difficult to make a decision in favour of the former. Unless, of course, there are personal reasons to be in the country.

It should be a much more streamlined process for the government to disburse funds now as many new advanced research and academic institutes have come up. What are we missing here?

Oh, no. It is not easy at all. The bigger institutes have some advantages in terms of flexibility of using their funds, but it is not easy to get big grants. Currently, the amount that you can get for a standard Department of Science and Technology (DST) project is Rs 10 lakh-50 lakh. That’s the typical range. Special programmes can provide bigger funding but they are rare.

Usually, it is easier to get big funding when a new institute is being built to set up new facilities. From thereon, things get tougher as you reach a steady state. Look, you need investment if you want to work in quantum tech. Of course, one can make a call that ‘Okay, we cannot afford this research, so we will not do it.’ But if you want to, there is no other option, you have to find ways to support this.

A few years back, the DST started a programme called QUEST (Quantum Enabled Science and Technology) where 50 scientists got funded with a combined funding of about Rs 200 crores. It was the first major effort in funding quantum tech research where an individual group could have hoped to get something of the order of Rs. 5 to 10 crore, which is the minimum you need to set up a lab working in quantum tech.

Was this part of the Rs 8,000 crore quantum national mission announced in the 2020 budget?

No, this was a different programme where the first discussions started in 2017 and the money started coming in  2019-2020. Unfortunately, it was right in the middle of the pandemic, when you know, things were shut, and we couldn't spend the money. On top of that, as part of the pandemic-related things, the government made it very difficult to import things.

The National Mission on Quantum Technology and Applications (NMQTA) with a proposed budget of Rs 8,000 crore is expected to launch sometime soon. Probably, you know, in the next few months. We have been working on it.

Can you tell us more about the import policy?

It was introduced in the summer of 2020. This was not a science policy. This was a government procurement policy. You know, on the face of it, it seems like a good idea. They wanted to encourage Indian industry and push for self-reliance. On paper, it sounds great. And it might even work for certain types of government procurement.

They're basically saying that if you're supported by government funds, you have to prioritise Indian-manufactured goods. And the way they implemented it is by saying that if something costs more than Rs 5 lakh and you want to import it, you have to go through a new procedure and get a waiver before you can even float a global tender.

In the beginning, we were surprised, and we said, okay, maybe they just didn't think about scientific procurement. So, in a few months, they will fix it but it didn't happen. It took about six to seven months before some exception was given. But there is no blanket exception given for scientific procurement.

They reduced the number of signatures required by one and made some exceptions. Unfortunately, even there, because of a lack of clarity, every institute has interpreted the rules differently. And we are definitely facing a lot of problems still. In the best-case scenario, we are still wasting about three months just to get approval to import an item.

Does most scientific procurement happen from abroad?

The problem is to assume that there is an Indian option and we are actively choosing not to use it. That is not the case for 99 percent or even more. It is a well-known fact that for scientific high-tech equipment, there is no manufacturing happening in India… there are no companies which exist. But, we have to now prove it with paperwork to get the waiver. Even if we invest Rs 8,000 crore, it won’t work if these kinds of policies are not fixed. We are wasting a bulk of the time just doing this paperwork, and not actually doing research.

It might be more fruitful if you create opportunities in the nation for companies to come together and manufacture at least some of the things in India. But, when you have not had a manufacturing base in a certain technology for decades, how can you start doing that overnight? And in many cases, it might not even make economic sense for a company because it's a niche market.

Is it possible for India to build an indigenous quantum computer?

In today's globalised world, nothing is going to be fully indigenous. For superconducting qubits, you can innovate the design of the chip and make it here, but the lithographic machines and dilution refrigerators have to come from outside.

There is a section which says we can just use quantum computing on the cloud that foreign tech companies provide. Isn’t there a possibility that the use cases of quantum on the cloud will be limited?

As I said earlier, none of the available quantum computers are doing anything useful better than classical computers at present. When it happens in the future, and it will, you might be able to use cloud-based systems for many applications. On one hand, we can continue to be just a leader in the software layer. One could decide that we will develop the best quantum software in the world, but we will never develop any hardware.

The problem really comes when you start talking about strategic applications – whether the cloud company will provide you with the best systems they have access to. That's the fundamental question we have to ask ourselves.

We don’t have a quantum computer, but startups are providing a solution called quantum key distribution (QKD) for secure communications. How do we know it is really secure if they have not been tested against a quantum computing hack?

QKD fundamentally relies on the fact that if somebody tries to interfere, you will know. And the trick in any secret communication is that if two parties can exchange a key without anybody else knowing, then the information you transmit using encoding based on that key is secure. Quantum key distribution is a method where the laws of physics guarantee that the key you have exchanged has not been intercepted by anybody else. Because the moment somebody intercepts, you will know and you will discard that key. It cannot be broken by even a quantum computer. So you don't need to test it against a quantum computer.

A bureaucrat was saying that enterprises are concerned that they might be sold classical computing solutions in the garb of quantum tech. So the government is trying to bring a quantum certification programme. Would it have the bandwidth to do such accreditation?

You have to look at this slightly differently. There are things in quantum which are impossible in classical. So if whatever you're purchasing is actually carrying out that task, it cannot do it the classical way. And if there are applications where both classical and quantum can do that, then it is unclear why you would bother unless there is a cost advantage or a performance advantage for the quantum solution.

As a business or an enterprise that wants some problem solved, you will put the problem statement, and the quantum company will say this is the solution. So, why do you care what is inside? The bureaucrat was probably referring to quantum communication systems where you want some central body to verify that the system is really secure and meets certain standards. I believe the government is setting up such bodies for various quantum technologies.

Deepsekhar Choudhury Deepsekhar covers tech and startups at Moneycontrol. Tweets at @deepsekharc

What are important areas in quantum research?

implementations of quantum processors
development of high-level software

What companies are leading in developing quantum computing?

The company’s roadmap includes a 4,000-qubit system by 2025 and the integration of quantum and classical resources into "quantum-centric supercomputing" .

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  • Microsoft (MSFT): Microsoft’s Azure Quantum platform could be the foundation for quantum-based innovations.
  • Amazon (AMZN): Amazon’s massive footprint now covers quantum computing initiatives.
  • Honeywell (HON): Crafting the largest integrated quantum computing firm, Honeywell is a force to be reckoned with.
  • Quantum Computing (QUBT): Delivering an energy-friendly profile, Quantum Computing adds sustainability to the picture.
  • Rigetti Computing (RGTI): Partnering with top organizations, Rigetti Computing brings institutional trust to the table.
  • IonQ (IONQ): Delivering platform flexibility, IonQ is one of the names to watch among cheap quantum computing stocks.
  • D-Wave Quantum (QBTS): Driving practical solutions via advanced technologies, D-Wave Quantum brings the excitement.

Possibly the greatest development in the broader digitalization sphere, quantum computers feature the potential to change everything we know about machine-driven calculations, thus auguring very well for cheap quantum computing stocks. Essentially, the transition is the rough equivalent of a combustion car versus an electric vehicle. Rather than cycling through each gear as velocity increases, an EV battery provides a constant “stream” of acceleration.

Fundamentally, cheap quantum computing stocks leverage the underlying principle of quantum theory. In other words, this industry involves the utilization of subatomic particles such as electrons or photons. Quantum bits or qubits allow these particles to exist in more than one state at the same time.

In contrast, traditional computers deploy a stream of electrical impulses, represented by a binary code of 1s and 0s. These bits can only exist as one state at one time; as in either a 1 or 0, but not both. Therefore, classical computational processes – as advanced as they are today – feature linear, one-dimensional processes. In contrast, quantum computers represent multidimensional operations, making them far more superior.

While the segment is risky, these cheap quantum computing stocks could amass significant profitability over the long run.

MSFT Microsoft $238.50
AMZN Amazon $117.98
HON Honeywell $174.30
QUBT Quantum Computing $2.40
RGTI Rigetti $2.06
IONQ IonQ $5.23
QBTS D-Wave Quantum $5.95

Microsoft (MSFT)

Source: The Art of Pics / Shutterstock.com

Starting off this list of cheap quantum computing stocks, I’m going with consumer technology giant Microsoft (NASDAQ:MSFT). To be clear, MSFT isn’t cheap from an absolute standard. Rather, this market idea offers a fundamentally undervalued profile, making it attractive for various reasons. Sure enough, the company’s vast business footprint also incorporates quantum computers through its Azure Quantum platform.

According to the company’s website, Azure Quantum “brings together the most innovative quantum computing and optimization solutions into a single cloud service.” Specifically, the open ecosystem enables developers to “write and run code on a diverse selection of today’s quantum hardware.” As well, the company boasts a future-proof framework to facilitate the development of durable applications.

According to Gurufocus.com, MSFT rates as a modestly undervalued opportunity. Against a longer-term period, the underlying tech firm commands excellent growth and profitability metrics. As well, Microsoft aligns with multiple relevant industries, such as business-centric software and communication platforms — and even video games.

Amazon (AMZN)

Source: Jonathan Weiss / Shutterstock.com

Again, e-commerce and tech giant Amazon (NASDAQ:AMZN) doesn’t immediately conjure up an image of being one of the cheap quantum computing stocks. However, the company took an uncharacteristic beating so far this year, down 27%. Still, from a contrarian perspective, AMZN may represent a discounted buying opportunity.

In October 2021, Amazon announced the opening of the AWS Center for Quantum Computing. Per the press release, “This new building is dedicated to our quantum computing efforts, and includes office space to house our quantum research teams, and laboratories comprising the scientific equipment and specialized tools for designing and running quantum devices.”

In addition, the e-commerce stalwart features the Amazon Bracket platform, which is a “fully managed quantum computing service designed to help speed up scientific research and software development for quantum computing.”

Gurufocus.com labels AMZN as significantly undervalued. Against a multi-year framework, Amazon enjoys excellent growth and profitability metrics.

Honeywell (HON)

Source: josefkubes / Shutterstock.com

A multinational conglomerate, Honeywell (NASDAQ:HON) largely generates attention for its building technologies and performance materials arms. However, the company also features innovations in advanced digitalization, making it one of the cheap quantum computing stocks to consider. As with the blue chips above, HON isn’t cheap based on absolute standards. Still, with shares down 15% year to date, it could be a name to pick up on discount.

According to the conglomerate’s website, Honeywell Quantum Solutions and Cambridge Quantum “combined to form Quantinuum – the world’s largest integrated quantum computing company.” Through the adoption of this groundbreaking technology, Honeywell aims to impart several efficiencies.

For instance, in the pharmaceutical space, quantum computers can help improve the efficiency of early phase drug design and discovery. For its aerospace and defense arm, the underlying innovation can support the development of new aircraft materials and military technology.

To be fair, Gurufocus.com labels HON as fairly valued. However, the company features strong profitability metrics, such as a 17.3% operating margin that exceeds the industry median of 5.51%. Therefore, HON could be very intriguing over the long run.

Quantum Computing (QUBT)

Source: Amin Van / Shutterstock.com

As wonderful as advanced computing technologies are, modern supercomputers tend to impose significant demands for cooling and power. For instance, some of the most powerful machines require direct water-cooling solutions, which is simultaneously innovative yet frustrating. Simply put, smaller enterprises may not have access to such administrative protocols.

That’s where Quantum Computing (NASDAQ:QUBT) could help shift the paradigm. One of the more compelling cheap quantum computing stocks available, the company specializes in a platform known as Quantum Photonic System or QPS. It leverages “pure, non-linear, optical properties to create a core quantum photonics technology that can be deployed at room temperature, in virtually any environment. QPS methods and apparatus deliver high precision measurement, computations and imaging results.”

Essentially, the tech firm brings practical applications of quantum computing through practical means. Still, QUBT is a speculative idea. Priced at $2.55 following the close of the Sept. 19 session, QUBT is effectively a penny stock.

Rigetti Computing (RGTI)

Source: Shutterstock

A Berkeley, California-based developer of quantum integrated circuits used for quantum computers, Rigetti Computing (NASDAQ:RGTI) aims to solve complex problems through powerful computing. Through infusing artificial intelligence and machine learning, Rigetti is on the frontlines in helping address the world’s most pressing concerns.

Further, the company builds quantum computers and the underlying superconducting quantum processors for some of the top organizations. These include government agencies such as NASA, and academic institutions such as The University of Edinburgh. In addition, Rigetti partners with blue chips like Amazon and Microsoft.

Notably, Rigetti’s Quantum Cloud Services (QCS) platform enables its machines to be integrated into any public, private or hybrid cloud. Put another way, cheap quantum computing stocks are more than aspirational – they underline “real” businesses.

Interestingly, TipRanks notes that RGTI features a strong buy consensus rating among three analysts. While the company enjoys a $9.67 average upside target, it’s worth noting that at a price tag of $2.06, RGTI presents significant risks.

IonQ (IONQ)

Source: Shutterstock

Among the growing number of cheap quantum computing stocks generating significant buzz, IonQ (NYSE:IONQ) earlier this year announced the introduction of its next-generation quantum computer called the IonQ Forte. Featuring substantial improvements in flexibility, precision and performance, the Forte can deliver rapid-fire calculations while also minimizing distractions such as noise and unintended residual light.

Further, IonQ delivers platform flexibility. Thanks to its partnership with Amazon, Microsoft and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), the tech firm can meet people and organizations right where they are.

Although it’s one of the high-risk, high-reward opportunities, IONQ stock rates relatively highly among analysts. According to TipRanks, two market experts rate shares as a buy while one analyst says it’s a hold. Further, the consensus price target for IONQ is $10, representing 92% upside from the time-of-writing price of $5.23.

Still, investors must acknowledge the risks with IONQ. Featuring limited revenue, the underlying company sustained a loss of nearly $152 million on its retained earnings line item.

D-Wave Quantum (QBTS)

Source: T. Schneider / Shutterstock

As exciting as they may be, one of the fundamental problems with advanced tech firms is that they tend to be so aspirational and theoretical that they can’t facilitate practical solutions. Thankfully, for D-Wave Quantum (NYSE:QBTS), its narrative runs in the opposite direction. As it states on its website, D-Wave’s ethos is all about unlocking the power of practical quantum computing today.

What does that look like on paper? D-Wave presents several successful use cases. For instance, levering the D-Wave platform, certain financial managers were able to craft an optimized portfolio featuring a 60% return on investment at lower risk. Additionally, D-Wave helped research and development regarding Covid-19 mitigation efforts.

While the company still presents risks – trading under $6 per share at time of writing – QBTS also rates highly among bullish analysts. According to TipRanks, of the three covering QBTS, all of them rate it as a buy. Moreover, the consensus price target of $13.33 implies an over 120% upside from current levels.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More: Penny Stocks — How to Profit Without Getting Scammed

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

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.

Article printed from InvestorPlace Media, https://investorplace.com/2022/09/7-cheap-quantum-computing-stocks-to-add-to-must-buy-list/.

©2022 InvestorPlace Media, LLC

What are important areas in quantum research?

What are important areas in quantum research?

Google achieved a landmark in 2019 by claiming "quantum supremacy" with its Sycamore processor, which performed a calculation in 200 seconds that would take classical supercomputers thousands of years .

What advantages do quantum computers have over conventional computers?

extremely complex calculations
extremely fast 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 continues to advance both hardware and software, aiming to improve computational capabilities and practical applications .

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Achieving Quantum-Level Security With Hybrid Networks Using PQC, QKD And Quantum Internet

Security CEO and founder of Safe Quantum Inc., working with data-driven companies to define, develop and deploy quantum-safe technologies.

Even though commercially viable quantum computers don’t yet exist, the problem they present for data protection and security is quite real. The prospect of matching quantum speed against large volumes of data may be years away. But that hasn’t deterred cybercriminals from hijacking and holding hostage so-called evergreen data—information like personal health records, corporate intellectual property and government secrets. With these “harvesting” attacks, crooks are biding their time until a quantum computer matures enough to decrypt the existing security.

There are three technologies that companies and governments can use that could mitigate future disasters, but there’s a catch. Deployed in isolation, none of these approaches can handle the threats to data today and down the road.

First, let’s look at encryption standards. RSA is the encryption standard that most of the world has relied upon for over 40 years. That said, the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) is spearheading an initiative to introduce new post-quantum cryptography (PQC) algorithms intended to replace RSA and withstand a quantum attack.

The challenge with this mathematical approach? As with RSA, mathematical solutions are only as finite as the computing power available to hack them. (For a bit more on this, see my previous article.)

The upside of the new PQC standards, however, is they will add a level of security today to transactional data, such as online commerce and consumer retail. This approach to protecting data at the edge will be a replacement for RSA and a precursor to a fault-tolerant quantum computer capable of breaking RSA encryption in the future.

The second approach is to fight the threat of quantum-driven attacks with quantum-level security. This is another solution that’s rapidly coming to market. Using quantum key distribution, or QKD, organizations can use existing fiber-optic cables readily available across much of the world to securely connect a sender and a receiver. Data delivered via photonic keys is only available to the intended recipient.

Using closed-loop metro-scale networks such as the BT-Toshiba-EY initiative, forward-looking companies are working to protect high-priority data. Although QKD may not be scalable for adoption in consumer settings as of now, it’s laying the foundation for using quantum technologies as a key infrastructure for data security.

I’ve expounded previously upon the value of using the pending NIST standards in conjunction with QKD as part of a defense-in-depth strategy. Certainly, doing them both will give you a leg up against what bad actors can do.

But there’s a third component that together with the first two approaches can accelerate the pace of quantum adoption in a way that prepares for the quantum internet while also delivering a new level of security protection. It uses a quantum principle called entanglement, and that’s what keeps two photons of light connected, no matter the distance between them. While nascent, entanglement distribution uses metro-scale networks to link entangled photons between multiple parties.

However, photons of light are impacted by “noise” such as cable vibration, temperature fluctuations and even disturbances in the Earth’s magnetic field. This noise impact is exacerbated over distance, which can cause photons to misbehave and become faulty.

Controlling this noise means quantum networks can be expanded over greater distances, surpassing local point-to-point networks to become broadscale networks, like a quantum internet. And entanglement distribution could also result in distributed processing of quantum computers, by which quantum computers can be strung together and their power multiplied over the network.

To achieve quantum-level security, we must bring all our weapons to bear. A hybrid approach would combine the mathematical protection of PQC, the quantum mechanics protection of QKD and the ultimate in quantum mechanics safeguards achieved by photon entanglement distribution.

For a practical example, consider a mobile telecommunications network. With a large number of distribution nodes throughout a metro network connected with fiber and QKD, wireless transmissions between consumers and other end users would be protected using the more readily adoptable PQC encryption algorithms.

QKD between a major distribution node and a retail customer isn’t realistic at this point, but telco providers could use QKD as an app on the infrastructure between data distribution points and connectors. And by adding entanglement distribution along with memory and repeater technologies, the quantum network could remain coherent across great distances.

You can protect data at the edge using PQC security algorithms and apply QKD quantum security to critical data between nodes today. An investment in the infrastructure required to build the quantum internet is a natural progression from today’s PQC and QKD metro-scale networks. Combining PQC and QKD with the goal of delivering quantum-safe communications with entanglement distribution testbeds is the right step toward the future of the quantum internet and the new world of networked information security.

Our best approach to building a quantum-safe infrastructure is to recognize that the ideal hybrid network includes PQC at the edge, QKD between high-data traffic nodes and the introduction of quantum networking (consisting of entanglement swapping, quantum memory and quantum repeaters) to achieve the future quantum internet.

Putting all your eggs in one PQC basket is a short-sighted strategy that’s too risky without the other components. PQC took a few tumbles with Rainbow and SIKE bowing out of the NIST standards competition in 2022, which should give one pause about a single-threaded solution.

Like the adoption of public key cryptography with RSA encryption starting in the 1970s and progressing into the 1990s, the quantum-safe solution of the 2020s will take a similar amount of time to achieve success by the 2030s to 2040s. But I believe that the winning approach will include the best features of three technologies: PQC, QKD and quantum networking.

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What companies are leading in developing quantum computing?

Microsoft is heavily investing in quantum computing, targeting a 4,000-qubit system by 2025 and focusing on integrating quantum and classical computing resources .

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Content: 3 Quantum Computing Stocks That Could Grow Your Wealth

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  • Quantum computing stocks offer growth potential in emerging technology.
  • IBM (IBM): Leader in quantum systems development, focusing on miniaturization and accuracy.
  • Intel (INTC): Applying transistor-based design to quantum computing with silicon spin qubits.
  • IonQ (IONQ): Developing trapped ion quantum systems with strong technological advantages.

Quantum computing stocks are working toward creating and selling quantum computers and other quantum products. These technologies are based on principles of quantum mechanics. This includes superposition and entanglement to perform operations that a classical processor cannot. These stocks provide a way to enter a field expected to transform many industries.

Thus, investing in quantum computing stocks is quite promising, considering the development of the industry. Some of the breakthroughs in quantum computing hardware include the creation of superconducting qubits and error correction software for larger quantum computers. There has been progress in increasing the qubit coherence times and combining classical and quantum computing to solve real-life problems.

Many of these quantum computing stocks trade at reasonable valuations. Now is a great time for investors to consider these options to grow their wealth. So here are three quantum computing stocks to consider.

IBM (IBM)

Source: shutterstock.com/LCV

IBM (NYSE:IBM) is one of the leading companies in the race toward quantum computing. It’s constantly pushing forward to create efficient quantum systems. The company’s delivery of the first 1,000-qubit quantum chip in 2023 proved incredible advancements are being made in this field.

What’s more, IBM’s approach has changed significantly since the company decided to focus on the miniaturization of quantum chips and their increased accuracy rather than increasing the number of qubits. While quantum computing still has a long way to go before it is practically usable, it has the potential to be used in fields such as cryptography, optimization, and simulation. This is where computing accuracy is paramount.

Thanks to its technical competence, cooperation with other industries, and conceptual approach to the development of quantum computing, IBM has the potential to lead the way forward.

Financially and technically, IBM pays a solid and growing dividend and has a low beta, making it a defensive pick in one’s portfolio.

Intel (INTC)

Intel (NASDAQ:INTC) has become one of the frontrunners in the race to build quantum computers through the application of transistor-based design and semiconductor manufacturing. Thus, by transferring the methods for creating and verifying conventional chips to silicon-based quantum computers, Intel has made a significant leap forward in its creation.

This is because the company is using silicon spin qubits, which are somewhat similar to the familiar semiconductor transistors. This allows the company to use its advanced CMOS fabrication facilities to place millions or even billions of these qubits on a single chip.

Intel’s progress in developing a 12-qubit silicon chip on a 300mm wafer with an impressive 95% yield rate proves its capacity to meet the stability standards of quantum computers. Also, Intel has perfected the cryogenic wafer probing technique. This allows it to test its quantum devices and make necessary adjustments faster.

INTC could be one of the top quantum computing stocks to consider to include an award-winning brand your portfolio.

IonQ (IONQ)

IonQ (NYSE:IONQ) is a leading developer of quantum computing systems using trapped ions. This approach could potentially enhance the reliability of its quantum computations.

IonQ has a strong technological advantage and owns 74 US-issued patents and 163 pending applications covering its quantum computing solutions. It is also engaged in the process of developing its quantum hardware for the commercial market, through which is available on the major cloud platforms and has signed several strategic partnerships,

One of the best things about IONQ is its financials are in good shape. This is more than what can be said for other companies that are exploring more experimental strategies.

As per its Q1 results, IonQ has high gross margins and increasing orders for quantum systems. The company expects to achieve net income before seeking more capital and thus prepare for long-term development. These factors make IONQ one of those quantum computing stocks to buy.

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

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

Article printed from InvestorPlace Media, https://investorplace.com/2024/07/3-quantum-computing-stocks-that-could-grow-your-wealth/.

©2024 InvestorPlace Media, LLC

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What are important areas in quantum research?

What companies are leading in developing quantum computing?

Its Azure Quantum platform provides cloud-based access to quantum and optimization solutions, supporting research and commercial applications .

Title:

Content: Buy Alert: 3 Quantum Computing Stocks Nearing Super Attractive Entry Points

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  • These stellar quantum computing stock opportunities are poised to become massive investments over the long run.
  • IBM (IBM): Spearheading quantum computing advancements and providing a steady income stream with a 4.61% dividend yield, IBM showcases a unique mix of innovation and financial stability.
  • Defiance Quantum ETF (QTUM): Offering a diversified investment opportunity in its niche, QTUM opens the door to potential growth from industry leaders such as IonQ, Nvidia, and NXP Semiconductors.
  • Alphabet (GOOGL): Demonstrating “quantum supremacy” and posting a 40% stock gain amidst thriving advertising and cloud sectors, Alphabet investors have a lot to look forward to ahead.

In the fascinating landscape tech realm, quantum computing stock opportunities could prove to be incredibly lucrative over time. The notion of quantum computing, born over two decades ago, is now gaining solid traction on The Street. Moreover, the technology, rooted in the mysteries of quantum mechanics, aims to boost computing speeds significantly.

The advancements in quantum computing are impossible to ignore, with continuous improvements and decreasing development costs. Moreover, the sector’s convergence with cloud computing opens doors for broader accessibility among researchers and software developers.

Furthermore, as the digital economy and artificial intelligence sectors grow, global spending on cloud computing is expected to reach a whopping $1 trillion annually within the next decade. Quantum computing appears to be on the cusp of becoming a game-changer, and it might be the most opportune time to load up on affordable quantum computing stocks.

IBM (IBM)

Source: shutterstock.com/LCV

IBM (NYSE:IBM) has made considerable strides in fast-evolving quantum computing. Its pioneering advancements, accessible via cloud services, are critical to the broader cloud and cognitive software division.

IBM’s quantum computing efforts have been extraordinary, developing a unique strategy to combat quantum noise, a notable obstacle in quantum computing. By introducing and tracking the effects of additional noise, the approach could potentially bring quantum computers on par with their conventional counterparts in terms of usability.

Moreover, IBM has introduced a suite of quantum-related products. This includes Qiskit Runtime, efficient task-completion algorithms, and the yet-to-be-released Quantum-Safe, which aims to bolster users’ cybersecurity capabilities in sync with the expanding quantum technology industry.

Moreover, IBM’s attractive dividend yield of 4.61% adds another feather to its cap, providing a reliable long-term income stream supported by its powerful cash flows.

Defiance Quantum ETF (QTUM)

Source: Amin Van / Shutterstock.com

In the quantum computing realm, the Defiance Quantum ETF (NYSEARCA:QTUM) stands out as a fascinating bet for investors seeking a diversified approach to this high-potential sector. This ETF, equipped with a modest expense ratio of 0.40%, delivers exposure to some of the biggest players in quantum computing, diminishing the volatility seen with individual stocks in this emergent field.

The beauty of QTUM lies in its democratization of investment opportunities sidestepping the need for technical comprehension of quantum computing. Hence, QTUM effectively offers a gateway to potential growth spurred by a technology set for many industries. This makes it one of those quantum computing stock opportunities you can’t afford to miss.

Inside the QTUM’s basket, you’ll find leading quantum computing stocks, names such as IonQ (NYSE:IONQ) , Nvidia (NASDAQ:NVDA), and NXP Semiconductors (NASDAQ:NXPI), among others. These companies represent the frontiers of quantum innovation, making QTUM an enticing pick for those aiming to tap into the quantum leap.

Alphabet (GOOGL)

Source: IgorGolovniov / Shutterstock.com

Alphabet (NASDAQ:GOOGL) has effectively carved out its niche in the competitive landscape of quantum computing. Its journey began in 2006, with a breakthrough in 2019 when Alphabet demonstrated “quantum supremacy,” showcasing its quantum computer’s capacity to outperform a conventional computer.

Its quantum prodigy, Sycamore, leveraged 54 qubits to accomplish a calculation in a mere 200 seconds. However, despite concerns from the research community, Alphabet remains undeterred, persistently improving its hardware, software, and algorithms. Consequently, a next-gen Sycamore capable of computations could bog down a supercomputer for an astounding 47 years.

Moreover, in this turbulent year, Alphabet’s stock flourished with over a 40% gain, propelled by robust growth in its advertising and cloud spheres and breakthroughs in conversational AI. Indeed, Alphabet is a quantum player worth watching.

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

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

Article printed from InvestorPlace Media, https://investorplace.com/2023/08/buy-alert-3-quantum-computing-stocks-nearing-super-attractive-entry-points/.

©2023 InvestorPlace Media, LLC

What companies are leading in developing quantum computing?

Honeywell, through its subsidiary Quantinuum, has achieved a quantum volume of 512, demonstrating strong performance and reliability .

What are important areas in quantum research?

IonQ specializes in trapped ion quantum systems, known for their reliability and scalability, and holds a robust patent portfolio with 74 US-issued patents and 163 pending applications .

What are important areas in quantum research?

What companies are leading in developing quantum computing?

What are important areas in quantum research?

What companies are leading in developing quantum computing?

D-Wave Systems is recognized for its quantum annealing technology, which has been applied to optimization problems in logistics and finance .

Title:

Content: ISSN 2330-717X

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

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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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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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What fields can quantum computers advance?

What fields can quantum computers advance?

Other notable companies include Intel, which leverages its semiconductor expertise to develop silicon spin qubits, and Amazon, which has established the AWS Center for Quantum Computing to support research and industry adoption .

What are important areas in quantum research?

new types of qubits
implementations of quantum processors

What countries and blocs are leading in developing quantum computing?

What are important areas in quantum research?

new types of qubits
implementations of quantum processors

What countries and blocs are leading in developing quantum computing?

Startups such as Xanadu Quantum Technologies in Canada, supported by a $40 million federal investment, are developing photonic-based, fault-tolerant quantum computers .

Title:

Content: Satyam Priyadarshy

Rajesh Mehta

Governments, venture capitalists, and private companies have invested billions of dollars in quantum computing in the last 10 years. Recently, at the Puzzle X conference held in Barcelona, it was evident that Europe is preparing to take on the leadership role to push the boundaries of quantum computing ecosystem. So, what is quantum computing?

Bits to Qubits

In simple words, quantum computing combines the fields of quantum mechanics and computer science. It moves us beyond Bits to Qubits. In traditional computer science, the information is stored and manipulated using bits that have two discrete states, 0 and 1, while in the quantum computing world, Qubits can represent both states at the same time, thus allowing for a high degree of parallelism, enabling by phenomena of “interference, superposition, and entanglement.”

Such parallelism allows quantum computers to tackle computational challenges that become a limiting factor for traditional computers.

Wide applications

Many companies in the quantum computing field are engaged in solving complex problems that could significantly impact the fields of drug development, material design, energy transition, finance, security, and defense.

All nations must address various aspects of the quantum computing ecosystem sooner than later due to China’s quantum computing activities.

The National Quantum Mission (NQM) was approved by Prime Minister Narendra Modi, on April 19, 2023.

With a budget of ₹6,003 crore over eight years, it aims to create, develop, and nurture the quantum technology ecosystem in the country.

The goal of the mission is to develop intermediate-scale quantum computers with 50-1,000 physical qubits in various platforms like superconducting and photonic technology. Satellite-based secure quantum communications between ground stations over a range of 2,000 km within India, long-distance secure quantum communications with other countries, inter-city quantum key distribution over 2,000 km, as well as multi-node quantum networks with quantum memories, are among the other deliverables. The technology is expected to break ground in communications, cryptography, intelligence, fossil fuel exploration, space research, and drug design.

As we step into 2024, an increased set of activities to solve complex challenges will be addressed by combining the tools of Artificial Intelligence and Quantum computing.

Priyadarshy is a pioneer in the fields of Quantum Mechanics, Data Science, Big Data and Emerging Technologies; Mehta is an International Consultant in the field of Market Entry, Innovation and Public Policy

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What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

The UK’s Quantum Motion has raised $50.5 million to develop scalable quantum computers, reflecting strong investor interest .

Title:

Content: Quantum Computing Application Sees Real World Success at Pier 300 at The Port of Los Angeles

Published: Jan. 5, 2022 at 6:39 PM EST|Updated: 5 hours ago

JACKSON, Wyo., Jan. 5, 2022 /PRNewswire/ -- The Port of Los Angeles is known as America's busiest Port, and this was further emphasized in October of 2021 when the Port recorded the busiest month ever in its 114-year history as cargo volume exceeded 903,000 TEUs. In a time where we are facing global supply chain challenges, now more than ever, it's essential that the Port operates to its maximum capacity with the highest level of efficiency possible. With the pandemic-induced buying surge, ports across the nation are struggling to keep up with expedited operations. Technology to optimize Port infrastructure capacity is of utmost importance. This is where the HONE (Hyper Optimization Nodal Efficiency) Quantum Powered AI Engine comes into play, increasing the capacity and velocity of cargo movement.

In conjunction with Fenix Marine Services and SavantX, HONE was initially deployed in July of 2020. The HONE optimization engine has been proven at one of the largest marine terminals in the US, the Pier 300 container terminal project at the Port of Los Angeles, where it has doubled cargo handling equipment productivity and produced more predictable cargo flows. HONE and its deployment strategy optimized the terminal and also optimized scheduling, appointments, and in-terminal container handling for trucking companies and their customers.

Powered by quantum computing technology from industry leader D-Wave, the HONE technology allows for unprecedented supply chain intelligence. Additionally, driven by artificial intelligence and machine learning, the HONE Engine redirects and optimizes operations, ultimately accelerating the velocity of the supply chain.

"Tackling large-scale optimization problems has always been a priority issue in the supply chain space – and will continue to be," said Jen Houston, CMO, D-Wave. "That's why we're excited to see more and more forward-thinking organizations start to leverage the power of quantum computing to identify and solve complex supply chain and logistics issues efficiently. We're proud to be the quantum provider behind SavantX's work as they harness quantum computing to optimize operations, increase productivity, and enhance risk management."

SavantX is one of the first organizations in the world to leverage the enormous power of quantum computing to solve commercial applications with significant cost savings and efficiency gains. The company's lineage includes open-source intelligence gathering tools for the US government and patented advanced analytic technologies that drive SavantX offerings. Initially established in 2015, SavantX's mission has evolved to become a quantum analytics company.

View original content to download multimedia:

SOURCE SavantX

The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

**Leading Countries and National Investments** The United States leads in quantum computing research and development, with both government and private sector investments.

**Leading Countries and National Investments** The United States leads in quantum computing research and development, with both government and private sector investments.

**Leading Countries and National Investments** The United States leads in quantum computing research and development, with both government and private sector investments.

The US government has initiated legislative efforts such as the Quantum Computing Cybersecurity Preparedness Act and has implemented export controls to restrict sensitive technology transfer, particularly to China, due to national security concerns .

Title:

Content: Proposal to attract quantum computing jobs passes Illinois House

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SPRINGFIELD, Ill. (WCIA) — Governor J.B. Pritzker is expecting quantum computing to create major technological breakthroughs in the coming years, and is pushing a package of tax incentives to attract those jobs to the state.

The Illinois House of Representatives passed the bill to encourage a quantum computing campus on Wednesday. The bill lays out the state’s plan to create an “enterprise zone” to invest half a billion dollars in to get tech companies to build.

“This bill is the result of many weeks and months of hard work.” Rep. Dave Vella (D-Rockford) said. “It will take Illinois’ business climate to the next level.”

In the past five years Pritzker has been in office, the governor has put a big focus on bringing new industries to Illinois, like electric vehicles, data centers, and EV batteries.

Pritzker has likened what Illinois wants to do to the early stages of Silicon Valley.
The University of Illinois is also putting a focus on quantum technology, and manufacturers share similar enthusiasm.

UIUC establishes new school for computing

“When you think of quantum, the groundbreaking innovation and technology to create the next batch of lifesaving medicines for example, or clean energy breakthroughs or cyber security, it’s all going to be done by quantum,” said Mark Denzler, the Illinois Manufacturing Association President.

The package also renews a number of tax incentives the state has already offered, including credits for electric vehicle makers, incentives for microchip producers, and continuing a Research and Development tax credit manufacturers believe is vital.

“Doing an early extension now to provide certainty to 2032, is critically important to technology and manufacturing to know they can do their development in the state of Illinois,” Denzler said.

Not everyone was in favor of the legislation. Representative C.D. Davidsmeyer (R-Jacksonville) said he feels the state is offering too many incentives to attract new businesses, while not taking care of the ones it already has.

Bill to require tagging for human remains passes House

“A lot of the grants the state provides are grants that are out of the reach of small business owners so I think we need to focus as a state on fostering growth within our own business community,” he said.

The package of incentives also expanded on the state’s film tax credit to help bring film productions to Illinois. The governor made a trip to California recently to pitch film production in the state to Hollywood executives for Illinois.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to WCIA.com.

Title:

Content: U.K. quantum computing startup Quantum Motion raises $50.5M

U.K. quantum computing company Quantum Motion has raised £42 million ($50.5 million) in an equity round of funding led by Bosch Ventures (RBVC), with participation from Porsche, the U.K. government's National Security Strategic Investment Fund (NSSIF), and a host of additional investors.

Quantum computing, for the uninitiated, builds on principles borrowed from quantum mechanics, with a focus on quantum bits (qubits) rather than atoms, promising to advance what's possible with computers by performing complex calculations in a fraction of the time. Use-cases may include accelerating new drug discoveries, or powering the vast amount of data processing required for AI applications.

"Quantum computers will think in totally different ways to computers today," Quantum Motion CEO James Palles-Dimmock explained to TechCrunch. "Problems that would take a supercomputer thousands of years to crack could be solved by a quantum computer in minutes. The earliest impact will be in areas related to materials science including energy materials, chemistry such as drug discovery, or optimization -- possibly stretching to logistics and transport."

Founded in 2017 by Professors John Morton and Simon Benjamin from UCL and Oxford University respectively, Quantum Motion is setting out to create "scalable quantum computers" through new quantum computing architectures that are compatible with established silicon processing.

As with normal computers, heat adversely impacts the qubits in quantum computing, meaning that quantum computers need to be kept very cold. Quantum Motion says it has designed integrated circuits that are capable of "generating, routing and processing signals at deep cryogenic temperatures," operating at just a few tenths of a degree above absolute zero.

"Our silicon-based quantum chips are typically a few millimetres across, and we expect that the cooling system required to operate the chip will have a form factor similar to a standard 19-inch server rack," Palles-Dimmock said. "Being able to show that our approach to quantum computing doesn't require data centres the size of football pitches, or vast CERN-type facilities, was one of the motivations behind our central London location."

Quantum Motion: working on dilution fridge Image Credits: Quantum Motion

Quantum leap

Quantum Motion's latest raise comes amidst a flurry of activity in the quantum computing space. In the past month alone we've seen French startup Pasqal raise €100 million, while Israel's Quantum Machines closed out its Series B round at $70 billion and Australia's Quantum Brilliance secured $18 million. Elsewhere over the past year, Finland's IQM, France's Alice&Bob, and U.K.-based Quantum Circuits have all raised sizeable chunks of VC cash.

Quantum Motion and its ilk are up against a host of competition in the big tech sphere too, including IBM which recently unveiled its 433 qubit Osprey quantum computer, while Google gained a new quantum computing sibling last year after Alphabet spun out Sandbox AQ as a standalone company, going on to raise $500 million in funding just last week. Elsewhere, other tech juggernauts such as Microsoft and Intel are also investing heavily in quantum.

So, what can Quantum Motion and its upstart brethren bring to the mix that the deep-pocketed behemoths can't?

"Compared to the big tech companies, our advantage is that we are agile, focused on a single goal and have a team that is comparable with the best in the world," Palles-Dimmock said. "We have a highly skilled team across multiple disciplines including IC (instrumentation and control) engineering, quantum theory, hardware and software, and deep relationships with world leading universities that helps us seek out that talent."

Quantum Motion CEO James Palles-Dimmock with co-founders Prof. John Morton (CTO), and Prof. Simon Benjamin (CSO) Image Credits: Quantum Motion

Quantum Motion had previously raised around $24 million in equity and grand funding, and with its fresh cash injection, the company said that it plans to accelerate its development of silicon quantum processors through forging "deeper ties" with manufacturers. Indeed, the startup's strategic investors including Bosch and Porsche provide some clue as to the impact that Quantum Motion is looking to have on industry -- quantum computing could transform battery technology as we know it, allowing scientists and researchers to simulate batteries to better understand what is going on at a molecular level to optimize materials and thus improve energy density.

But the true possibilities are effectively endless, and it's difficult to conceive just how transformative quantum computing will prove.

"Just like computing in the early 1960s, it was hard to predict just what amazing things computing would lead to, and yet it has revolutionised our society," Palles-Dimmock said. "It was only when computers got into the hands of people everywhere that we got really creative and pushed the boundaries of what computers can do. Quantum computing will be similar, we know that it will be transformative in areas like drug discovery, battery technology and more, but we won’t know just how transformative they’ll become until we get there."

It's worth noting that while quantum computing is advancing at breakneck speed, it's still in its relative infancy, and the fruits of all the current R&D labor we're seeing across the board may still be some years off.

"Many quantum computing companies exist today and they are all in R&D mode," Palles-Dimmock said. "Investors know it will take time. It may be the end of the decade before we have really impactful quantum computers. This raise enables us to strengthen our relationship with manufacturing partners and demonstrate prototypes that can scale to millions of qubits."

Quantum Motion's latest cash injection included contributions from Octopus Ventures, Oxford Sciences Enterprises, British Patient Capital, Inkef, Parkwalk Advisors, and IP Group.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What are the potential threats of quantum computers?

threatening national security through breaking encryption

Illinois, for example, has proposed a $500 million investment package to attract quantum computing jobs and establish a quantum campus .

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.

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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.

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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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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.

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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 countries and blocs are leading in developing quantum computing?

China is a formidable competitor, having invested approximately $15 billion in quantum technology and achieving significant milestones such as the Jiuzhang 3.0 quantum computer and the 24-qubit Wuyan system .

Title:

Content: How big does your quantum computer need to be?

Quantum computers are expected to be disruptive and potentially impact many industry sectors. So researchers in the United Kingdom and the Netherlands decided to explore two very different quantum problems: breaking the encryption of Bitcoin (a digital currency) and simulating the molecule responsible for biological nitrogen fixation.

In AVS Quantum Science, from AIP Publishing, the researchers describe a tool they created to determine how big a quantum computer needs to be to solve problems like these and how long it will take.

“The majority of existing work within this realm focuses on a particular hardware platform, superconducting devices, like those IBM and Google are working toward,” said Mark Webber, of the University of Sussex. “Different hardware platforms will vary greatly on key hardware specifications, such as the rate of operations and the quality of control on the qubits (quantum bits).”

Many of the most promising quantum advantage use cases will require an error-corrected quantum computer. Error correction enables running longer algorithms by compensating for inherent errors inside the quantum computer, but it comes at the cost of more physical qubits.

Pulling nitrogen out of the air to make ammonia for fertilizers is extremely energy-intensive, and improvements to the process could impact both world food scarcity and the climate crisis. Simulation of relevant molecules is currently beyond the abilities of even the world’s fastest supercomputers but should be within the reach of next-gen quantum computers.

“Our tool automates the calculation of the error-correction overhead as a function of key hardware specifications,” Webber said. “To make the quantum algorithm run faster, we can perform more operations in parallel by adding more physical qubits. We introduce extra qubits as needed to reach the desired runtime, which is critically dependent on the rate of operations at the physical hardware level.”

Most quantum computing hardware platforms are limited, because only qubits right next to each other can interact directly. In other platforms, such as some trapped ion designs, the qubits are not in fixed positions and can instead be physically moved around — meaning each qubit can interact directly with a wide set of other qubits.

“We explored how to best take advantage of this ability to connect distant qubits, with the aim of solving problems in less time with fewer qubits,” said Webber. “We must continue to tailor the error-correction strategies to exploit the strengths of the underlying hardware, which may allow us to solve highly impactful problems with a smaller-size quantum computer than had previously been assumed.”

Quantum computers are exponentially more powerful at breaking many encryption techniques than classical computers. The world uses RSA encryption for most of its secure communication. RSA encryption and the one Bitcoin uses (elliptic curve digital signature algorithm) will one day be vulnerable to a quantum computing attack, but today, even the largest supercomputer could never pose a serious threat.

The researchers estimated the size a quantum computer needs to be to break the encryption of the Bitcoin network within the small window of time it would actually pose a threat to do so — in between its announcement and integration into the blockchain. The greater the fee paid on the transaction, the shorter this window will be, but it likely ranges from minutes to hours.

“State-of-the-art quantum computers today only have 50-100 qubits,” said Webber. “Our estimated requirement of 30 [million] to 300 million physical qubits suggests Bitcoin should be considered safe from a quantum attack for now, but devices of this size are generally considered achievable, and future advancements may bring the requirements down further.

“The Bitcoin network could perform a ‘hard-fork’ onto a quantum-secure encryption technique, but this may result in network scaling issues due to an increased memory requirement.”

The researchers emphasize the rate of improvement of both quantum algorithms and error- correction protocols.

“Four years ago, we estimated a trapped ion device would need a billion physical qubits to break RSA encryption, requiring a device with an area of 100-by-100 square meters,” said Webber. “Now, with improvements across the board, this could see a dramatic reduction to an area of just 2.5-by-2.5 square meters.”

A large-scale error-corrected quantum computer should be able to solve important problems classical computers cannot.

“Simulating molecules has applications for energy efficiency, batteries, improved catalysts, new materials, and the development of new medicines,” said Webber. “Further applications exist across the board — including for finance, big data analysis, fluid flow for airplane designs, and logistical optimizations.” The article “The impact of hardware specifications on reaching quantum advantage in the fault tolerant regime” is authored by Mark Webber, Vincent Elfving, Sebastian Weidt, and Winifried K. Hensinger. It will appear in AVS Quantum Science on Jan. 25, 2022 (DOI: 10.1116/5.0073075). After that date, it can be accessed at https://aip.scitation.org/doi/10.1116/5.0073075.

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Quantum Tech Needed To Secure Critical Data From Quantum Decryption

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In 2021, Booz Allen Hamilton analysts surmised that China will surpass Europe and the US in quantum-related research and development and that Chinese hackers could soon target heavily encrypted datasets such as weapon designs or details of undercover intelligence officers with a view to unlocking them at a later date when quantum computing makes decryption possible.

In the report titled “Chinese threats in the quantum era”, BAH said “encrypted data with intelligence longevity, like biometric markers, covert intelligence officer and source identities, social security numbers, and weapons’ designs, may be increasingly stolen under the expectation that they can eventually be decrypted,” the report says. It says “state-aligned cyber threat actors” will start to steal or intercept previously unusable encrypted data. Chinese could hack data for future quantum decryption, report warns | Hacking | The Guardian

In fact, as reported earlier this month by the Financial Times, Chinese researchers are claiming that they have used a quantum computer to break RSA encryption, which if true, would be years ahead of expectations. Though the Chinese claims have yet to be proven (if ever), it underscores that there is a significant amount of work going on quantum research to achieve that goal and that current estimates of when anyone may break RSA encryption may be more hopeful than reality based. *Financial Times January 4, 2023

Recently, Tim Callan, a chief experience officer at cybersecurity company Sectigo, told DailyMail.com that quantum computers — which already exist could one day 'make the encryption we use today no longer fit for purpose'. He noted that “The evolution of quantum computers creates a significant threat to data security, and their immense processing power is capable of breaking encryption at great speed, leaving important data vulnerable, everything from bank account details to medical records to state secrets.” He said that 'this scenario is so alarming that specialists refer to it as the "Quantum Apocalypse.” The Quantum Apocalypse is 'just YEARS away', experts say | Daily Mail Online

The event has also been referred to as Q-Day by quantum researchers where large-scale quantum computers will be able to use Shor's algorithm to break all public key systems that employ integer factorization-based (and other) cryptography.

The urgency of a Q-Day or Quantum Apocalypse was a subject of a lecture of mine for The Economist conference, “A look into Commercialising Quantum 2022 in London”. There is little doubt that quantum computers will be able to perform faster and more precise computations than classical computers and could pose geo-military threats if in the wrong hands. And that the same computing power that allows complex problems to be solved can, in turn, be applied to undermine cybersecurity. This is because current cybersecurity protocols typically use pseudo-random numbers to encrypt sensitive information such as passwords, personal data, and quantum computers can crack the methods traditional computers use to generate random numbers, posing a significant threat to any organization using standard encryption tools.

FtChinese researchers claim to find way to break encryption using quantum computers

This month, the IBM Institute for Business Value issued report titled Security in the Quantum Era” The report examines the reality of quantum risk and the need for “enterprise adoption of quantum-safe capabilities to safeguard the integrity of critical applications and infrastructure as the risk of decryption increases.”

The IBM report states that quantum computing poses an “existential risk” to classical computer encryption protocols, and notes that cybercriminals are potentially already exfiltrating encrypted data with the intention of decrypting it once quantum computers advance as part of “harvest now, decrypt layer attacks.” IBM: Quantum computing poses an ‘existential threat’ to data encryption | VentureBeat

My personal advice, in view of the recognition of the decryption threat, is to get ready now because quantum computing will be here soon enough, and it is time for businesses, organizations and governments to protect their data for that inevitability. The good news is that we do not have to wait for technological solutions to be developed as quantum tech can battle quantum threats and there are already capabilities on the market for defense. Also, for more on quantum technologies, please see my article in FORBES: “The Quantum Era Is Arriving, And It Will Be Transformational! The Quantum Era Is Arriving, And It Will Be Transformational ! (forbes.com)

One company called Quantum Computing Inc. (QCI) (NASDAQ:QUBT), is ahead of the game and operates a full-stack quantum solutions company that is on a mission to accelerate the delivery quantum information processing hardware systems with both performance and cybersecurity benefits. With their existing quantum photonics technology offerings, it is already feasible for the company to replace classical type computing with entropy quantum computing to strengthen key sources for any cryptographic task. About Us | Quantum Computing Inc.

Quantum Computing Inc uses a Quantum Photonic System (QPS) to leverage pure, non-linear, optical properties to create a core quantum photonics technology that can be deployed at room temperature, in ordinary server room type environments. Their QPS methods and systems already have demonstrated the ability to deliver high precision computations in solving complex business optimization problems, powerful single-photon measurements in remote sensing applications such as Lidar and they have demonstrated 3-D quantum imaging capabilities using visible and near infrared, eye-safe radiation.

QCI’s Entropy Quantum Computer (EQC) system is specifically focused in addressing real-world optimization problems at a scale (11,000 Qubits) with full connectivity between variables (high density). Today, this sits in comparison with the more typical small-scale problems using limited connectivity among qubits that alternative quantum systems use to showcase their technologies. Bottom line is that today, the EQC provides results that will allow industries to scale faster as this new quantum photonic technology continues to advance.

Moreover, their entropy quantum computer operates at low power levels (< 80 Watts) and is a small compact design to fit in rack mounted or table-top configurations – offering very low SWAPc specifications (Size, Weight, Power and Cost). no quantum experts to calibrate and keep it running.

The CEO of Quantum Computing Inc , Robert Liscouski says that this same Quantum Photonic technology “can also be leveraged to provide Quantum Encryption + Quantum Authentication on the same platform and is a full solution to replace public-private key cryptography that is vulnerable to evolving quantum threats.” QCI’s patent on Quantum Private Communication methodology addresses the concerns of key distribution approaches with trusted third-party authentication / validation and provides a pure hardware alternative approach involving no mathematics or algorithms or pseudo random numbers. Patented approaches using entangled photons and correlated true quantum random numbers generated from the quantum entropy source are combined in a methodology that ensures ONLY intended recipients of information are properly authenticated in a trustless system approach.

Mr. Liscouski notes that the threat to public key cryptography, if it is broken by Shor’s algorithm, could leave critical infrastructure, financial & banking systems, healthcare, and transportation all vulnerable to attack. With QPS, that threat is mitigated both on current classical or from near-term quantum systems with the company’s existing technologies such as its quantum random number generator, and a new photonic physically unclonable function chip that provides a unique authentication “quantum fingerprint” for the user.

This quantum photonic platform is welcomed as the West is amid a “Quantum Computing Supremacy Race” especially with China that can exponentially change the geo-political balance of the world.

China has recently announced some eye-opening milestones on their quantum communications capabilities and Chinese researchers announced last year that they set a new quantum secure direct communication (QSDC) world record of 102.2 km (64 miles), smashing the previous mark of 18 km (11 miles). Researchers break world record for quantum-encrypted communications (engadget.com) The Chinese are heavily investing (estimated to be the many $billions) in all areas of quantum research and are demonstrating results.

Investment is also growing in quantum in the US and in Europe and with Asian allies. The Japanese government recently announced that intends to enter the global quantum computing race by putting its first domestically produced quantum computer into service within the current fiscal year ending March 2023. “The government strategy aims to reach 10 million quantum technology users in Japan by 2030 and to create an environment where it can be used in such varied fields as medicine, banking and new materials development.” Tokyo proposes first domestic quantum computer use by March 2023 | The Japan Times

The U.S. Government, including NSA, DOD, DHS, NIST have been preparing for a potential Q-Day by requiring new quantum proof standards for algorithms. “NSA views quantum-resistant (or post-quantum) cryptography as a more cost effective and easily maintained solution than quantum key distribution. For all these reasons, NSA does not support the usage of QKD or QC to protect communications in National Security Systems and does not anticipate certifying or approving any QKD or QC security products for usage by NSS customers. This is a perfect time and opportunity for QCI’s Quantum Private Communication Network and other post quantum technology applications to be to tested and deployed in the Zero-trust environment. National Security Agency/Central Security Service > Cybersecurity > Quantum Key Distribution (QKD) and Quantum Cryptography QC (nsa.gov)

Stopping the threat of adversaries decrypting valuable data extracted from networks, agencies, data centers, and companies, by adversaries has also become a legislative priority. In December of 2022 Congress, passed the Quantum Computing Cybersecurity Preparedness Act into law. The legislation, directs the Office of Management and Budget “to prioritize the migration of federal information technology systems to post-quantum cryptography and come up with guidance for the federal assessment of critical systems based on the standards that the National Institute of Standards and Technology will issue for post-quantum cryptography.” This is a great step as it mandates forward thinking about our quantum era and the security implications of not being prepared.

Governments are not the only players. Industry, including Intel, Google, IBM, D-Wave, and others are very active in investments in quantum capabilities and approaches. Academia is also getting more involved in quantum. In an important development, scientists with the Chicago Quantum Exchange (CQE) at the University of Chicago’s Pritzker School of Molecular Engineering announced that they’ve connected the city of Chicago and suburban labs with a quantum network. The Chicago network will be opened to academia and industry as one of the nation’s first publicly-available testbeds for quantum security technology. Chicago expands and activates quantum network, taking steps toward a secure quantum internet | Chicago Quantum Exchange

The University of Chicago and the Massachusetts Institute of Technology are two leading universities to follow for more on quantum developments. Also, for researchers, The Quantum Security Alliance and IEEE Quantum are two good resources that bring academia, industry, and US government entities together to identify, define, collaborate on quantum computing technology innovations. Welcome to Quantum Security Alliance About - IEEE Quantum

Certainly, quantum technology, especially quantum computing, has amazing potential that could revolutionize everything from communications, real-time data analytics, bio tech, genomic sequencing, and materials sciences. Quantum computing will also accelerate us into the future by impacting the landscape of artificial intelligence and the Metaverse. But with the good, we have to plan and prevent the bad, most critically data which is the lifeblood of economies and commerce. Starting now, a quantum proof cybersecurity path is an important one to follow.

Chuck Brooks is President of Brooks Consulting International, is a globally recognized thought leader and subject matter expert Cybersecurity and Emerging Technologies. Chuck is also an Adjunct Faculty at Georgetown University’s Graduate Applied Intelligence Program and the Graduate Cybersecurity Risk Management Programs. Cyber Express named Chuck “Cybersecurity Person of the Year” for 2022. LinkedIn named Chuck as one of “The Top 5 Tech People to Follow on LinkedIn.” He was named as one of the world’s “10 Best Cyber Security and Technology Experts” by Best Rated. He is also a Cybersecurity Expert for “The Network” at the Washington Post, Visiting Editor at Homeland Security Today, Expert for Executive Mosaic/GovCon, and a Contributor to FORBES.  Chuck has an MA from the University of Chicago, and a BA from DePauw University.

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How much have countries and blocs invested in quantum computing?

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

How much have countries and blocs invested in quantum computing?

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

The Chinese government has prioritized quantum technology in its national strategy, with analysts predicting that China may surpass the US and Europe in quantum-related research and development .

What countries and blocs are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

The United Kingdom has tripled its investment in quantum technology to £29.5 billion, supporting high-growth projects and a sector that has grown by 81% over the last decade, contributing approximately £1.7 billion to the economy .

What countries and blocs are leading in developing quantum computing?

The UK’s National Quantum Strategy aims to enhance industries including finance, healthcare, and climate change.

The UK’s National Quantum Strategy aims to enhance industries including finance, healthcare, and climate change.

The UK’s National Quantum Strategy aims to enhance industries including finance, healthcare, and climate change.

Canada is positioning itself as a global leader, with the government investing $40 million in Xanadu Quantum Technologies and launching a National Quantum Strategy to strengthen its quantum sector .

Title:

Content: Satyam Priyadarshy

Rajesh Mehta

Governments, venture capitalists, and private companies have invested billions of dollars in quantum computing in the last 10 years. Recently, at the Puzzle X conference held in Barcelona, it was evident that Europe is preparing to take on the leadership role to push the boundaries of quantum computing ecosystem. So, what is quantum computing?

Bits to Qubits

In simple words, quantum computing combines the fields of quantum mechanics and computer science. It moves us beyond Bits to Qubits. In traditional computer science, the information is stored and manipulated using bits that have two discrete states, 0 and 1, while in the quantum computing world, Qubits can represent both states at the same time, thus allowing for a high degree of parallelism, enabling by phenomena of “interference, superposition, and entanglement.”

Such parallelism allows quantum computers to tackle computational challenges that become a limiting factor for traditional computers.

Wide applications

Many companies in the quantum computing field are engaged in solving complex problems that could significantly impact the fields of drug development, material design, energy transition, finance, security, and defense.

All nations must address various aspects of the quantum computing ecosystem sooner than later due to China’s quantum computing activities.

The National Quantum Mission (NQM) was approved by Prime Minister Narendra Modi, on April 19, 2023.

With a budget of ₹6,003 crore over eight years, it aims to create, develop, and nurture the quantum technology ecosystem in the country.

The goal of the mission is to develop intermediate-scale quantum computers with 50-1,000 physical qubits in various platforms like superconducting and photonic technology. Satellite-based secure quantum communications between ground stations over a range of 2,000 km within India, long-distance secure quantum communications with other countries, inter-city quantum key distribution over 2,000 km, as well as multi-node quantum networks with quantum memories, are among the other deliverables. The technology is expected to break ground in communications, cryptography, intelligence, fossil fuel exploration, space research, and drug design.

As we step into 2024, an increased set of activities to solve complex challenges will be addressed by combining the tools of Artificial Intelligence and Quantum computing.

Priyadarshy is a pioneer in the fields of Quantum Mechanics, Data Science, Big Data and Emerging Technologies; Mehta is an International Consultant in the field of Market Entry, Innovation and Public Policy

COMMENT NOW

What countries and blocs are leading in developing quantum computing?

Finland has launched its first operational 5-qubit quantum computer in collaboration with startup IQM, supported by government initiatives to advance quantum technology across industries .

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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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Quantum in N.L.

Memorial University, Xanadu partner to strengthen quantum education in N.L. and Canada

Research

By Jeff Green

Memorial University and Xanadu are partnering to train and educate Canada’s future quantum workforce.

Xanadu is a world leader in photonic quantum computing.

The partnership aims to establish a quantum-ready workforce in the province of Newfoundland and Labrador and grow Canada’s vibrant quantum ecosystem.

This will be achieved by developing practical quantum education and training resources and introducing them to Memorial University courses. In addition, Memorial University researchers will leverage Xanadu’s various quantum software tools and receive support for their ongoing research initiatives.

Xanadu is on a mission to build quantum computers that are useful and available to people everywhere.

PennyLane, Xanadu’s open-source software framework for quantum machine learning, quantum chemistry and quantum computing, will be foundational to this partnership and used to build the quantum education and training materials.

Memorial University has a dedicated focus on research, entrepreneurship and innovation.

The university’s entrepreneurial culture aims to inspire students, faculty and staff to embrace innovation and challenge conventional thinking.

Throughout this partnership, Memorial will bring quantum computing education to Newfoundland and Labrador and continue to push the boundaries of quantum computing research.

“I am really excited about the opportunities that this partnership with Xanadu is creating for our students,” said Dr. James LeBlanc, associate professor and deputy head, Department of Physics and Physical Oceanography, Faculty of Science, Memorial. “By partnering with a leading quantum computing company like Xanadu, we are setting the groundwork for the province to be “quantum-ready” as this technology emerges.”

Professor LeBlanc also says that the partnership will develop graduates who are highly employable in the quantum technology sector.

“The access to Xanadu machines, provided by this partnership, will bolster existing research initiatives at Memorial University with the hope of giving our research faculty and graduate students a true quantum advantage.”

Recognized as one of Canada’s top research universities, Memorial has demonstrated research strengths in a range of areas including climate change and cold ocean innovation.

Several research projects prioritize understanding the ocean’s evolving role in mitigating climate change.

“Quantum computing applied to oceanic evolution might drastically improve our ability to tackle these difficult problems. Given this synergy, it is essential for our researchers to have access to and an understanding of this technology,” said Prof. LeBlanc.

“We are looking forward to working with the team at Memorial University to train Canada’s quantum workforce,” said Jen Dodd, quantum community lead at Xanadu. “To date, there are 20 university partners from coast to coast, and we are dedicated to continuing to build and strengthen the quantum ecosystem in Canada.”

About Xanadu

Xanadu is a Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Founded in 2016, Xanadu has become one of the world’s leading quantum hardware and software companies. The company also leads the development of PennyLane, an open-source software library for quantum computing and application development. Visit the website or follow them on X @XanaduAI.

About PennyLane

PennyLane is an open-source software framework for quantum machine learning, quantum chemistry, and quantum computing with the ability to run on all hardware. To find out more, check out the PennyLane demonstrations, a gallery of hands-on quantum computing content.

To receive news from Memorial in your inbox, subscribe to Gazette Now.

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What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

What are important areas in quantum research?

What countries and blocs are leading in developing quantum computing?

India’s National Quantum Mission, approved in April 2023 with a budget of ₹6,003 crore (~$725 million), aims to develop a quantum ecosystem focused on intermediate-scale quantum computers and secure quantum communications .

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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.

What are important areas in quantum research?

What fields can quantum computers advance?

The European Union is also ramping up investments to establish a competitive edge in the global quantum race .

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.

What countries and blocs are leading in developing quantum computing?

**Successes and Lessons Learned** IBM’s delivery of the first 1,000-qubit chip and Google’s demonstration of quantum supremacy are landmark achievements, demonstrating the rapid progress in hardware capabilities .

What are important areas in quantum research?

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

What are important areas in quantum research?

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

Honeywell’s quantum volume of 512 and D-Wave’s deployment of the HONE Quantum Powered AI Engine at the Port of Los Angeles, which doubled cargo handling productivity, exemplify real-world applications and performance improvements .

Title:

Content: University of Southern California launches $1B-plus initiative for computing including AI, advanced computation and quantum computing

Published: May. 5, 2023 at 2:22 PM EDT|Updated: 1 hour ago

With an aggressive recruitment and fundraising effort, USC President Carol L. Folt launches the single largest comprehensive academic initiative in the university's history: Frontiers of Computing. The initiative integrates computing throughout education and research to enhance digital literacy for all students as the university aims to hold its lead as a top provider of tech professionals.

LOS ANGELES, May 5, 2023 /PRNewswire/ -- USC President Carol L. Folt on Thursday announced a $1 billion-plus initiative for computing research and education across disciplines, with a focus on AI, machine learning and data science, augmented and virtual reality, robotics, gaming and block chain.

The initiative integrates computing throughout education and research.

"I want every student who comes through our programs, whether they are in science, business, the humanities or the arts, to have a solid grounding in technology and the ethics of the work that they do," Folt said. "We will integrate digital literacy across disciplines to create responsible leaders for the workforce of the future."

Seeded with a $260 million gift from the Lord Foundation of California, USC Frontiers of Computing encompasses a multipronged effort to push the boundaries of computing into a new era:

  • A new school: The USC School of Advanced Computing headquartered in a seven-story, 116,000 square-foot facility, the Dr. Allen and Charlotte Ginsburg Human-Centered Computation Hall. The building, now under construction, will formally open in fall 2024.
  • Recruitment: Hiring 30 new faculty in the first three years who are leaders in computer science and computing-based research, with 60 additional hires by 2030. The new faculty members will hold appointments in multiple schools at USC in recognition that computational methods, particularly AI, are transforming the way people live and work.
  • Economic impact: USC Frontiers of Computing will bolster the university's influence on technology across various industries and expand its footprint in Silicon Beach on L.A.'s West side, which already is home to two of USC's tech incubators, the Information Sciences Institute and Institute for Creative Technologies. USC currently has a $9 billion economic footprint in the L.A. area, according to a study in 2017, and its impact is expanding to the East Coast, with the new USC Capital Campus in Washington, D.C.
  • Education: The initiative will broadly integrate computing across multiple disciplines and academic programs. USC aims to prepare students for a more tech-intensive world of work, spark new technological advances and shape responsible policy through new programs and course offerings, as well as through experiential education.
  • Ethics: USC is instilling a culture of responsibility and conscience among students, faculty and its broader community across academic programs and research that will influence application, development, policy and research, says Ishwar K. Puri, senior vice president for research and innovation. The new Center for Generative A.I. and Society is prominent within the initiative's ethics endeavor. The recently opened center draws together experts from across the university to navigate difficult discussions about ethics and responsibility and generative A.I.

USC leaders began developing Frontiers of Computing three years ago, before the recent rise of artificial intelligence and generative A.I.

USC already is the leading provider of tech talent for the nation. More than 1,300 students per year graduate with bachelor's, master's and PhDs in computer science.

"We all know the world is changing very fast right now," Folt said. "We need to take that momentum of change — and couple it with USC's history of innovation — to create what has never been done before. And we're going to do it."

Learn more online and see this video.http://computing.usc.edu/

In addition to President Carol L. Folt, other USC leaders are available for interviews about the USC Frontiers of Computing:

"This endeavor is a tremendous opportunity to apply new computing tools to accelerate and expand the impact of scientific discovery. It is not only the ability to solve problems that sets this apart, but the speed with which it can be done."

Ishwar K. Puri, USC Senior Vice President for Research and Innovation

"With an entire academic department dedicated to data science, and with technically skilled faculty placed throughout all our business programs, we are well-placed not only to focus on the cutting-edge business applications of technologies like AI and blockchain, but also to understand and shape their consequences for society."

Geoff Garrett, Dean, USC Marshall School of Business

"The potential is tremendous not only for great progress in applications such as cryptography and seismic simulations, but also for foundational breakthroughs in research areas like black holes, computational biology and quantum materials."

Amber D. Miller, Dean, USC Dornsife College of Letters, Arts & Sciences

"The world needs engineers and computer scientists to solve the grand challenges we face. The new School of Advanced Computing will tackle this goal by developing reimagined engineering curricula, that also emphasize the ethics of technology, in our fast-changing world."

Yannis C. Yortsos, Dean, USC Viterbi School of Engineering

Contact: Emily Gersema, gersema@usc.edu or (213) 712-3168 or Paul McQuiston, paulmcq@usc.edu or (323) 527-7770

View original content to download multimedia:

SOURCE University of Southern California

The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.

What are important areas in quantum research?

What fields can quantum computers advance?

What are important areas in quantum research?

What fields can quantum computers advance?

In finance, CaixaBank implemented a quantum computing application for investment portfolio selection, achieving a 90% reduction in computing time .

Title:

Content: 3 Quantum Computing Stocks With Strong Buy Ratings: Summer 2024

Advertisement

  • Investors should consider adding these quantum computing stocks to buy today.
  • D-Wave Quantum (QBTS):  There’s a consensus strong buy rating on the stock with an average price target of $3.17 at the moment.
  • IonQ (IONQ): Of the analysts covering the stock, three have a buy rating.
  • Rigetti Computing (RGTI): It’s also another one of the top quantum computing stocks to buy on excessive weakness.

Down but not out, quantum computing stocks are a buy on excessive weakness.

For one, as noted by McKinsey, quantum computing could help solve the most complex problems faster than ever before. Two, as noted by Time, quantum computing could help solve “complex problems that currently take the most powerful supercomputer several years could potentially be solved in seconds.” Three, we have to remember that quantum computing could be a $1.3 trillion opportunity in the making.

It can potentially speed up new drug treatment discoveries. It may even help accelerate financing and data speed, assist with climate change issues. Furthermore, cybersecurity and other mind-boggling complex issues could be solved faster than a regular computer.

And, it’s already being referred to as “a revolution for humanity bigger than fire, bigger than the wheel,” according to analysts at Bank of America (NYSE:BAC). Even more exciting is that you can buy some of the top quantum computing stocks on the cheap.

In fact, here are three you may want to buy after the July 4th holiday.

D-Wave Quantum (QBTS)

Source: T. Schneider / Shutterstock

After slipping from a high of about $2.40, D-Wave Quantum (NYSE:QBTS) has been consolidating at around $1.10. This makes it a buy. Additionally, a consensus strong buy rating on the stock has an average price target of $3.17 at the moment.

Earnings weren’t so hot. Its earnings per share loss of 11 cents was just in-line. And revenue of $2.47 million (up 56.3% year-over-year [YOY]) missed by $530,000. However, it did note that first quarter bookings of $4.5 million jumped 54% YOY.

“Coupled with the significant technical milestones we’ve achieved with the Advantage2 prototype, we believe our progress leading the commercialization of quantum through our products, customer application development and accelerating adoption is evident,” added Chief Executive Officer (CEO) Dr. Alan Baratz.

In addition, according to a new company survey of 300 businesses polled, 290 said they expect to invest $3 million to $6 million toward quantum optimization, with a potential 10x to 20x return on investment

IonQ (IONQ)

Source: Amin Van / Shutterstock.com

IonQ (NYSE:IONQ) is also a buy on weakness.

After slipping from about $22 to a recent low of about $7.30, IONQ caught strong support and is just starting to pivot from over-extensions on RSI, MACD and Williams’ %R. Plus, of the analysts covering the stock, three have a buy rating.

Furthermore, the company’s EPS loss of 19 cents did beat by six cents. Revenue of $7.6 million (up 77.2% YOY) beat by $600,000. Also, it saw $300,000 in new bookings in the first quarter. IONQ reiterated its full-year revenue target between $37 million and $41 million, a solid improvement from the $22 million posted a year ago.

Benchmark analysts who have a buy rating on IONQ, recently noted the following.

“The company’s expanding customers, including Airbus, Hyundai Motors and the United States Air Force Research Laboratory, as well as recent sales in Europe, have sparked a rising interest in system purchases, especially in Europe, fueling optimism for the coming year.”

Rigetti Computing (RGTI)

Source: Shutterstock

We can also look at Rigetti Computing (NASDAQ:RGTI), a pioneer in quantum computing, offering full-stack quantum computing services. It’s also providing services through Rigetti Quantum Cloud Services, serving global enterprise, government, and research clients.

It’s also another one of the top quantum computing stocks to buy on excessive weakness.

For one, after slipping from $1.40 to a recent low of 96 cents, it’s oversold. Two, analysts are bullish with a consensus moderate buy rating and an average price target of $3.

Three, as noted by Investorplace contributor Josh Enomoto:

“Covering experts believe that Rigetti will post a loss per share of 41 cents. That’s an improvement over last year’s loss of 57 cents. Further, revenue could hit $15.3 million, up 27.4% from the prior year. And in fiscal 2025, sales could soar to $28.89 million, up nearly 89% from projected 2024 revenue.”

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More: Penny Stocks — How to Profit Without Getting Scammed

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

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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

Article printed from InvestorPlace Media, https://investorplace.com/2024/07/3-quantum-computing-stocks-with-strong-buy-ratings-summer-2024/.

©2024 InvestorPlace Media, LLC

What advantages do quantum computers have over conventional computers?

What are important areas in quantum research?

What fields can quantum computers advance?

Goldman Sachs is exploring quantum computing for complex derivative pricing, aiming to reduce time and costs .

What advantages do quantum computers have over conventional computers?

extremely complex calculations
extremely fast calculations

What fields can quantum computers advance?

IBM’s Quantum Accelerator program and collaborations with companies like Bosch and HSBC are facilitating the application of quantum computing in materials science, supply chain optimization, and sustainable finance .

What companies are leading in developing quantum computing?

What fields can quantum computers advance?

What companies are leading in developing quantum computing?

What fields can quantum computers advance?

A key lesson is that technical challenges remain significant, including high hardware costs, a shortage of skilled professionals, and difficulties in scaling quantum systems .

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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Many quantum computers are still proofs of concept, with practical, large-scale applications in development .

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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?

What are the challenges in quantum computing research?

What are important areas in quantum research?

What are the challenges in quantum computing research?

The complexity of error correction, quantum decoherence, and the need for robust, fault-tolerant systems are ongoing hurdles .

Title:

Content: in ,

NIST Chooses 4 Algorithms for Inclusion in Post-Quantum Cryptographic Standard

The National Institute of Standards and Technology has selected the first batch of four encryption algorithms designed to resist an attack from a future quantum computer that could potentially break the security codes used to safeguard email software, online banking and other digital platforms.

NIST said Tuesday the encryption tools will become part of the post-quantum cryptographic standard that the agency expects to be finalized in two years.

One of the four algorithms, CRYSTALS-Kyber, is for general encryption meant to protect data shared across a public network. The three algorithms – CRYSTALS-Dilithium, FALCON and SPHINCS+ – are for digital signatures used for identity authentication.

SPHINCS+ is based on a family of math problems called hash functions, while the rest of the selected encryption tools are based on structured lattices.

In 2016, NIST asked cryptographers across the world to propose algorithms for its post-quantum cryptography standardization effort.

Laurie Locascio, director of NIST and undersecretary of Commerce for standards and technology, said quantum computers that can crack current encryption will pose a serious threat to information systems.

Our post-quantum cryptography program has leveraged the top minds in cryptography — worldwide — to produce this first group of quantum-resistant algorithms that will lead to a standard and significantly increase the security of our digital information,” added Locascio.

NIST said it is considering four additional algorithms for inclusion in the post-quantum cryptographic standard. These tools are meant for general encryption and do not rely on the two families of math problems.

Join ExecutiveBiz Events for the Quantum Technologies Forum on July 28 to hear from government and industry leaders as they discuss the future of quantum technologies and their potential national security and defense applications.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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  1. Analysis
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 are the challenges in quantum computing research?

high error rates
sensitivity to environment

What are the challenges in quantum computing research?

high error rates
sensitivity to environment

What are the challenges in quantum computing research?

high error rates
sensitivity to environment

Collaboration is essential for progress, with partnerships among companies, academia, and research organizations driving innovation and workforce development .

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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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

For example, Memorial University in Canada and Xanadu are developing quantum education resources, while the University of Southern California has launched a $1 billion initiative for computing research and education, including quantum computing .

Title:

Content: Computing

INTERNATIONAL NEWS

China Delivers Its First Practical Quantum Computer System to a Customer

China’s Science Ministry on Monday announced that the country’s first practical quantum computer was delivered to a user, which the agency didn’t identify, a year ago.

The 24-qubit Wuyan system based on superconducting technology was built by Origin Quantum Computing Technology, a company founded in 2017 by two of the country’s leading quantum physicists, Guo Guoping and Guo Guangcan. A qubit in the quantum world performs functions akin to bits in the digital world.

With the on-premises installation of the Wuyan system, China became the third country, after Canada and the United States, to deliver a complete quantum computer system to a customer.

Some skeptics questioned the timing of the announcement.

“Quantum technology has a high priority for national security in China. If this were something very important, I doubt it would be disclosed like this in a transparent way by Chinese authorities,” explained Weifeng Zhong, a senior research fellow at the Mercatus Center of George Mason University in Fairfax, Va.

“The fact that it was delayed for a year suggests that they realize now that it’s not important to national security, so they’re trying to use it to build China’s image as a technology leader at a time when they’re trying to open up their economy to the rest of the world,” Zhong told TechNewsWorld.

Important Step

However, Hodan Omaar, a senior AI policy analyst at the Center for Data Innovation, a think tank studying the intersection of data, technology, and public policy, in Washington, D.C., maintained the announcement shows that China has made an important step in its quantum development.

“Overcoming technical challenges on the path toward large-scale quantum computers will depend on the ability to scale the number of qubits in quantum systems, much like modern classical computers have depended on the growth in the number of transistors in superconducting chips,” Omaar told TechNewsWorld.

“Investing in near-term quantum computing applications helps bolster the development of longer-term use cases of the technology, thereby helping to improve competitiveness,” she added.

Skip Sanzeri, co-founder and COO of QuSecure, a maker of quantum-safe security solutions in San Mateo, Calif., called the announcement “formidable” because China is stating that they have a fully functional quantum computer, albeit the qubit count is low.

“Nonetheless, error correction and noise reduction are two significant factors in ensuring that a quantum computer can process data and provide applications that we can rely on,” Sanzeri told TechNewsWorld. “By announcing that they have been able to get to this level shows that China is making progress towards larger quantum computers.”

Bucking a Trend

The Wuyan system appears to be on par with other systems in the market, noted Heather West, a senior research analyst at IDC’, an international market research company.

“The fact that they sold a 24 qubit system to someone isn’t that different from what we’re seeing elsewhere around the world,” West told TechNewsWorld.

Delivering a standalone system like the Wuyan is actually bucking the current trend in the market.

“Most quantum computers that people are accessing today are accessed through the cloud,” explained Doug Finke, an analyst with Global Quantum Intelligence, an international market intelligence firm.

“This Wuyan computer is being delivered to a customer in an on-premise situation,” Finke told TechNewsWorld. “On-premise has a lot of disadvantages. You have to worry about maintenance. You have to worry about spare parts. You have to worry about calibration.”

“In addition,” he continued, “quantum computing innovation is so fast that they become obsolete in about two years. So few people want an on-premise quantum computer. They’re much more comfortable with the cloud.”

Superconducting Challenges

The Wuyan system is built using superconducting chip technology, one of the earliest technologies for quantum computers. Since its introduction, other technologies have been explored. They include photonics, trapped ions, and neutral atoms.

“At the moment, no one knows which technology will be the winner or if there’ll be a combination of technologies that will combine for efficacious quantum applications,” Sanzeri said.

“Superconducting is very difficult,” he explained. “It requires near zero Kelvin refrigeration.”

“The electrons used in superconducting quantum computers are very hard to manage due to very short coherence times,” he continued. “That’s why they must be cooled to such a low temperature.”

Other methods are managing longer coherence times and a faster path to the desired goal of 1,000 error-corrected qubits, he added.

“The million-dollar question is what technology will win the race to the fault-tolerant quantum computer,” West said. “There might not be one winner. There might not be one system that comes out on top. It might be that certain kinds of systems are better than others at solving certain kinds of problems.”

Long View

Omaar countered that superconducting chips have a number of advantages over competing technologies.

“First, superconducting qubits are solid-state electrical circuits that are easier to control because they are manipulated using microwaves,” she said. “Scientists can therefore use easily accessible commercial microwave devices and equipment in superconducting quantum computing applications.”

“Second,” she continued, “because preparing superconducting circuits is based on the existing method for fabricating semiconductor chips, the development of high-quality devices can leverage advanced chip-making technologies, which is good for manufacturing and scalability.”

Despite developments like China’s Wuyan system, the arrival of a quantum computer that can tackle problems beyond the capacity of silicon computers appears to be years away.

“What quantum computers are going to be best for is solving complex, intractable problems beyond the scope of classical compute technology,” West said. “Those problems are years away from a quantum computer solving.”

“To get to that, we need at least a million qubits,” she continued. “That’s going to take a lot of work in scaling and stabilizing the qubits. Qubits are very sensitive to outside noise. As a result, the error rates are high in the technology we have.”

Despite the exuberance exhibited by many, we’re still in the early days of quantum computing, added Richard Stiennon, founder and chief research analyst at IT-Harvest, a cybersecurity industry analyst firm in Birmingham, Mich.

“There are many physical constraints on quantum computing that require precision in length of pathways — we are talking microns — and resistance to forces — footsteps can interfere with it. Supercooled chips just add to the complexity,” Stiennon told TechNewsWorld.

“I put it in the same realm as developing usable nuclear fusion as an energy source,” he said. “Hundreds of billions of dollars and decades to show a glimmer of progress.”

John P. Mello Jr. has been an ECT News Network reporter since 2003. His areas of focus include cybersecurity, IT issues, privacy, e-commerce, social media, artificial intelligence, big data and consumer electronics. He has written and edited for numerous publications, including the Boston Business Journal, the Boston Phoenix, Megapixel.Net and Government Security News. Email John.

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Content: IONQ

Good Stocks To Buy Right Now? 3 Quantum Computing Stocks To Know

The quantum computing industry is poised to revolutionize the way we understand computing and data processing, opening up unprecedented opportunities for advancements in various sectors such as healthcare, finance, and cybersecurity. Unlike classical computers, which use bits as the basic unit of information, quantum computers utilize quantum bits or “qubits,” which can exist in multiple states simultaneously. This inherent ability to perform complex computations at speeds unimaginable with today’s technology makes quantum computing a potential game-changer, capable of solving problems that are currently intractable for classical computers.

For investors interested in quantum computing stocks, the sector presents a high-growth, high-risk landscape filled with both opportunities and uncertainties. Many companies in this emerging field are still in the early stages of development but show significant promise in commercial applications. However, the industry also comes with its share of technical challenges, which could impact the growth of quantum computing stocks.

Despite these hurdles, if successfully navigated, the upside for investors could be substantial. Therefore, it is crucial for investors to conduct thorough due diligence, understand the market dynamics, and possibly diversify their investments across different companies focusing on various aspects of quantum computing to mitigate risk. Taking this into consideration, here are three quantum computing stocks to watch in the stock market now.

Quantum Computing Stocks To Watch Right Now

IonQ (IONQ Stock)

Leading off, IonQ Inc. (IONQ) is a leading company in the field of quantum computing. IonQ focuses on the development of quantum hardware and software with the aim of bringing quantum computing into commercial viability. Its proprietary technology aims to build scalable and fault-tolerant quantum computers that promise to outperform classical computing systems in various applications.

Earlier this month, IonQ announced its second quarter 2023 financial results. Diving in, the company posted a loss of $0.16 per share, with revenue of $5.52 million for Q2 2023. This came in line with analysts’ consensus estimates for the quarter which were a loss of $0.16 per share and revenue estimates of $4.35 million. As a result, revenue grew by 111.46% versus the same period, the year prior.

So far in 2023, shares of IONQ stock have surged by a whopping 323.99% year-to-date. Meanwhile, as of this past Friday’s closing bell, IONQ stock is trading at $14.67 a share.

[Read More] 3 REIT Stocks For Your August 2023 Watchlist

Intel Corp. (INTC Stock)

Second, Intel Corporation (INTC) is a multinational technology company. The company is known primarily for its microprocessor chips, Intel has been a leader in the computing industry for decades. The company has recently ventured into emerging technology sectors, including artificial intelligence, cloud computing, and quantum computing.

Back in July, Intel reported a beat for its second quarter 2023 earnings results. In detail, the company notched in Q2 2023 earnings of $0.10 per share, with revenue of $12.95 billion. This is compared to Wall Street’s consensus estimates which were a loss of $0.04 per share, and revenue of $12.08 billion. Though the company beat expectations, revenue fell by 15.48% on a year-over-year basis.

Year-to-date, shares of INTC stock have advanced by 24.39% thus far. Moreover, as of this past Friday’s closing bell, Intel stock closed the day up 2.03% at $33.25 a share.

[Read More] 3 High Yield Dividend Stocks To Watch In August 2023

Honeywell International (HON Stock)

Finally, Honeywell International Inc. (HON) is a diversified technology and manufacturing company. While it operates in multiple sectors including aerospace, building technologies, and safety and productivity solutions, Honeywell has also been actively involved in the development of quantum computing technologies.

At the end of July, Honeywell also reported its second quarter 2023 financial results. In the quarter, the company announced earnings per share of $2.23 with revenue of $9.15 billion. This is in comparison with analysts’ estimates which were earnings of $2.24 per share, on revenue of $9.18 billion. Though, revenue increased by 2.16% versus the same period, the previous year.

YTD, shares of Honeywell International have fallen by 13.07% so far. However, as of the end of the trading day this past Friday, shares of HON stock closed the day modestly higher by 0.62% at $186.30 a share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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What countries and blocs are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

**Security Implications and Strategic Responses** Quantum computing poses a significant threat to current encryption methods, prompting urgent efforts to develop post-quantum cryptography (PQC) standards .

Title:

Content: Proposal to attract quantum computing jobs passes Illinois House

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SPRINGFIELD, Ill. (WCIA) — Governor J.B. Pritzker is expecting quantum computing to create major technological breakthroughs in the coming years, and is pushing a package of tax incentives to attract those jobs to the state.

The Illinois House of Representatives passed the bill to encourage a quantum computing campus on Wednesday. The bill lays out the state’s plan to create an “enterprise zone” to invest half a billion dollars in to get tech companies to build.

“This bill is the result of many weeks and months of hard work.” Rep. Dave Vella (D-Rockford) said. “It will take Illinois’ business climate to the next level.”

In the past five years Pritzker has been in office, the governor has put a big focus on bringing new industries to Illinois, like electric vehicles, data centers, and EV batteries.

Pritzker has likened what Illinois wants to do to the early stages of Silicon Valley.
The University of Illinois is also putting a focus on quantum technology, and manufacturers share similar enthusiasm.

UIUC establishes new school for computing

“When you think of quantum, the groundbreaking innovation and technology to create the next batch of lifesaving medicines for example, or clean energy breakthroughs or cyber security, it’s all going to be done by quantum,” said Mark Denzler, the Illinois Manufacturing Association President.

The package also renews a number of tax incentives the state has already offered, including credits for electric vehicle makers, incentives for microchip producers, and continuing a Research and Development tax credit manufacturers believe is vital.

“Doing an early extension now to provide certainty to 2032, is critically important to technology and manufacturing to know they can do their development in the state of Illinois,” Denzler said.

Not everyone was in favor of the legislation. Representative C.D. Davidsmeyer (R-Jacksonville) said he feels the state is offering too many incentives to attract new businesses, while not taking care of the ones it already has.

Bill to require tagging for human remains passes House

“A lot of the grants the state provides are grants that are out of the reach of small business owners so I think we need to focus as a state on fostering growth within our own business community,” he said.

The package of incentives also expanded on the state’s film tax credit to help bring film productions to Illinois. The governor made a trip to California recently to pitch film production in the state to Hollywood executives for Illinois.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to WCIA.com.

Title:

Content: IBM’s Quantum Computing Moves Could Put Industrial Space in Demand

IBM's quantum computing advancements and industrial collaborations are set to boost demand for specialized industrial spaces, transforming sectors like materials science and supply chain logistics.

IBM’s aggressive expansion in quantum computing is set to significantly impact various industries, potentially increasing the demand for industrial space. The company has been at the forefront of quantum research and development, advancing both its hardware and software capabilities. IBM’s recent developments in their Qiskit software stack, which includes over 100 updates, are aimed at enhancing the performance and usability of quantum circuits. These advancements are crucial for the optimization and execution of quantum algorithms, making them more accessible and practical for industrial applications.

Key Partnerships and Industrial Applications

IBM has partnered with major industry players to explore practical applications of quantum computing. For instance, Bosch has joined forces with IBM to utilize quantum computing for materials science research. This collaboration aims to develop new materials for applications such as electromobility and renewable energy, areas where classical computers fall short. The potential to design materials with higher energy efficiency and reduced resource consumption could revolutionize these sectors.

Impact on Supply Chain and Logistics

Quantum computing is poised to transform supply chain management by enhancing modeling capabilities. The complexity of supply chain models, which involve numerous variables, can be better managed with quantum computing. This technology promises to optimize logistics, improve data sharing security, and facilitate digital twin simulations. IBM’s quantum advancements could thus lead to more efficient and resilient supply chains, further driving the demand for industrial space to house these advanced computing facilities.

The Future of Quantum Computing

IBM’s roadmap includes the development of a 4,000-qubit system by 2025, which underscores the company’s commitment to scaling quantum computing capabilities. This modular architecture will enable the integration of quantum and classical computing resources, opening new frontiers in high-performance computing. As these systems become operational, industries will increasingly require specialized facilities to host and manage these advanced quantum computers, driving a surge in demand for industrial real estate.

About the author

Vishal Jain

Vishal’s reviews provide a comprehensive look at the latest software and apps in the market. His hands-on approach and detailed analysis help readers make informed decisions about the tools they use daily.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

The National Institute of Standards and Technology (NIST) is actively working on PQC standards, and organizations are encouraged to begin transitioning to quantum-resistant technologies immediately .

Title:

Content: Finland has big plans for quantum computing applications

The QuTI project will develop new components, manufacturing and testing solutions, and algorithms for the needs of quantum computing applications.
25 January 2022

Quantum computing applications are expected to be adopted by more industries this year as organizations around the world begin testing the use cases for the technology. While organizations are the ones most looking forward to making the most of the technology, a few governments are also hoping quantum computing applications can improve their services.

In Finland, their first-ever quantum computer was commissioned at a research center near the capital. Scientists are expected to use it to study next-generation computing power. The 5 quantum-bit computers were developed to learn how to build a quantum computer, how to program one, and how to operate one in the future.

The state-owned VTT Technical Research Center (VTT) plays a crucial role in ensuring researchers learn in a range of scientific domains and making quantum computing applications ready for the industry. According to a report by Computer Weekly, the Finnish government believes that the best way to be ready for the quantum computing industry is to build a working quantum computer.

Computer Weekly also highlights five areas for quantum computing applications. They are in drug and materials discovery, supply chain and logistics, financial services, artificial intelligence, and cloud security.

For drug and materials discovery, Computer Weekly reports that a separate team in VTT which is the quantum algorithm team is developing algorithms to be used on the quantum computer. They are looking at two broad types of quantum computing applications. The first is to solve complex optimization problems that exist in many industries. This includes energy distribution, process control, and fleet management. The second is to predict the structures and properties of molecular formations more accurately and effectively. This will help accelerate drug discovery and the development of new materials.

While other countries are also developing quantum computer ecosystems, with the majority focusing on topics and platforms. Tech vendors like IBM and Google, who are also developing quantum use cases are not government-linked or owned and are mostly testing industry use cases.

Compared to the rest of the world, Finnish researchers focus almost exclusively on the superconducting qubit approach, which they have been using for years and know very well. In fact, a new research project has just been launched to accelerate the progress of Finnish quantum technology.

The QuTI project, coordinated by VTT, will develop new components, manufacturing and testing solutions, and algorithms for the needs of quantum technology. The QuTI consortium, partly financed by Business Finland, consists of 12 partners and has a total budget of around EUR 10 million.

For Professor Mika Prunnila, QuTI project’s coordinator, from VT, “Quantum technology is a multidisciplinary and rapidly advancing field. The QuTI consortium provides an ideal starting point for strengthening the international competitiveness of Finnish technology and industry in this fast-growing field.”

The quantum computing, communication and sensing devices to be developed in the QuTI project are largely based on expertise in microsystems, photonics, electronics, and cryogenics. The project develops customized software and algorithms hand in hand with the hardware, strengthening the Finnish quantum computing infrastructure. In addition, new tools will be created for quantum technology product development that will serve the needs of the QuTI project as well as the entire field of quantum technology.

As China and the US continue to battle each other for quantum computing supremacy, Finland is definitely building their presence in the industry as well. With the government supporting quantum computing initiatives, Finland might just have a quantum computing ecosystem on the horizon.

Title:

Content: Cloud-based Quantum Computing Market projected to reach USD 6,289.8 Million by 2030, growing at a CAGR of 35.5% during the forecast period of 2023-2030 - says MarketDigits in its latest study

The Global Cloud-based Quantum Computing Market was valued USD 750 Million in 2023 and projected to reach USD 6,289.8 Million by 2030, growing at a CAGR of 35.5% during the forecast period of 2023-2030

Richmond, Jan. 02, 2024 (GLOBE NEWSWIRE) -- According to a research report "Cloud-based Quantum Computing Market, by Offering (Service, Software), Technology (Trapped Ions, Quantum Annealing, Superconducting Qubits, Other Technologies, Others), Application (Encryption, Optimization, Sampling, Simulation), Industry Vertical (BFSI, Healthcare and Pharmaceuticals, Aerospace and Defense, Research and Academia, Manufacturing, Transportation and Logistics, Others), and Region - Global Forecast to 2030.

Global Cloud-based Quantum Computing Market Report Scope:

Report Details
Market size value in 2023 USD 750 Million
Market size value in 2030 USD 6,289.8 Million
CAGR (2023-2030) 35.5%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Offering, Technology, Application, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW

  • Accenture

  • AWS (Amazon Web Services)
Sample of Companies Covered
  • Baidu

  • Cambridge Quantum Computing

  • D-Wave Quantum Inc.

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TOC Covers in Depth & Breath on Cloud-based Quantum Computing Market
170 - Market Data Tables
65 - List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

Cloud-based quantum computing enables remote access to quantum processors and algorithms, revolutionizing computation for diverse applications via online platforms. The cloud-based quantum computing market is experiencing unprecedented growth as organizations seek to harness the immense computational power of quantum processors through convenient and scalable cloud services. This market evolution marks a paradigm shift in computing capabilities, with leading tech companies investing heavily in quantum research and development. Quantum computing leverages the principles of superposition and entanglement to perform complex calculations at speeds unattainable by classical computers. Cloud-based offerings democratize access to quantum resources, allowing businesses to explore and experiment without the need for extensive on-premises infrastructure. As a result, a diverse range of industries, including finance, healthcare, and logistics, are exploring quantum solutions for optimization, simulation, and machine learning applications. The market's trajectory is driven by a convergence of technological advancements, increased investments, and a growing ecosystem of quantum developers and users, positioning cloud-based quantum computing as a transformative force in the future of information processing.

Major Vendors In The Global Cloud-Based Quantum Computing Market:

  • Accenture
  • Amazon Web Services (AWS)
  • Baidu
  • Cambridge Quantum Computing
  • D-Wave Quantum Inc.
  • D-Wave Systems
  • Fujitsu
  • Google
  • Honeywell
  • Huawei Technologies Co.
  • IBM
  • 1QBIT
  • Microsoft
  • QC Ware
  • Riverlane
  • Rigetti Computing
  • T-Systems International GmbH
  • Zapata Computing

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Increasing demand for advanced computational capabilities

The escalating demand for advanced computational capabilities stands as a pivotal driver propelling the cloud-based quantum computing market into prominence. As traditional computing architectures face limitations in solving complex problems, organizations across various sectors are turning to quantum computing to address challenges that were once deemed insurmountable. Cloud-based quantum computing offers a scalable and accessible solution, allowing businesses to harness the extraordinary processing power of quantum processors without the need for significant on-premises infrastructure investments. This surge in demand is fueled by the recognition that quantum algorithms have the potential to outperform classical counterparts in areas such as optimization, cryptography, and machine learning. The advent of cloud-based services democratizes access to quantum resources, empowering a diverse range of industries to explore novel solutions and stay at the forefront of technological innovation in the pursuit of solving complex problems more efficiently and effectively.

Market Dynamics

Drivers:

  • Increasing demand for advanced computational capabilities
  • Growing demand for faster data operations, secure data transfer, and communications

Opportunities:

  • Recent advances in cloud-based quantum computing
  • Growing adoption of quantum computing solutions across several verticals

Recent advances in cloud-based quantum computing

Recent advances in cloud-based quantum computing present a significant opportunity for the quantum computing market, opening new frontiers in computation and problem-solving. The integration of cutting-edge technologies into cloud services has enhanced the accessibility and usability of quantum computing resources. Cloud providers are actively investing in infrastructure, algorithms, and developer tools, making quantum computing capabilities more user-friendly and scalable. This progress is fostering a conducive environment for experimentation and innovation, attracting a broader spectrum of users from diverse industries. As cloud-based quantum computing platforms evolve, they offer businesses the chance to explore and harness the potential of quantum algorithms without the need for substantial in-house expertise or infrastructure. This opportunity not only accelerates the adoption of quantum technologies but also democratizes access, empowering organizations to leverage the transformative power of quantum computing to solve complex problems and gain a competitive edge in the rapidly advancing digital landscape.

The market for Cloud-based Quantum Computing is dominated by North America.

North America stands as the dominant force in the Cloud-based Quantum Computing market, with the United States and Canada playing pivotal roles. The region's leadership is attributed to the robust presence of major quantum computing players, significant research and development initiatives, and a burgeoning tech ecosystem. In the United States, companies like IBM, Google, and Rigetti Computing have spearheaded quantum advancements, while Canada boasts prominent players like D-Wave. The strategic collaboration between academia, government, and industry in North America has positioned the region as a global hub for quantum computing innovation, solidifying its preeminence in driving the growth and development of cloud-based quantum computing solutions.

The research and academia Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on Industry Vertical the Cloud-based Quantum Computing Market is segmented into BFSI, Healthcare and Pharmaceuticals, Aerospace and Defense, Research and Academia, Manufacturing, Transportation and Logistics, Others. The research and academia segment is poised to maintain its dominance, holding the largest market size in the Cloud-based Quantum Computing sector throughout the forecast period. This prominence can be attributed to the active involvement of research institutions and academic entities in advancing quantum technologies. These stakeholders play a crucial role in driving innovation, developing quantum algorithms, and educating the workforce. Cloud-based platforms offer an accessible environment for researchers and students to experiment with quantum computing, fostering collaboration and knowledge exchange. As a result, the research and academia segment continues to lead, shaping the trajectory of Cloud-based Quantum Computing's market growth.

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What countries and blocs are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

Cybercriminals are already engaging in "harvest now, decrypt later" attacks, collecting encrypted data for future decryption once quantum capabilities mature .

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

Quantum Key Distribution (QKD) is being explored to secure communications, and various initiatives are underway to develop cryptographic standards that can withstand quantum attacks .

Title:

Content: Proposal to attract quantum computing jobs passes Illinois House

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SPRINGFIELD, Ill. (WCIA) — Governor J.B. Pritzker is expecting quantum computing to create major technological breakthroughs in the coming years, and is pushing a package of tax incentives to attract those jobs to the state.

The Illinois House of Representatives passed the bill to encourage a quantum computing campus on Wednesday. The bill lays out the state’s plan to create an “enterprise zone” to invest half a billion dollars in to get tech companies to build.

“This bill is the result of many weeks and months of hard work.” Rep. Dave Vella (D-Rockford) said. “It will take Illinois’ business climate to the next level.”

In the past five years Pritzker has been in office, the governor has put a big focus on bringing new industries to Illinois, like electric vehicles, data centers, and EV batteries.

Pritzker has likened what Illinois wants to do to the early stages of Silicon Valley.
The University of Illinois is also putting a focus on quantum technology, and manufacturers share similar enthusiasm.

UIUC establishes new school for computing

“When you think of quantum, the groundbreaking innovation and technology to create the next batch of lifesaving medicines for example, or clean energy breakthroughs or cyber security, it’s all going to be done by quantum,” said Mark Denzler, the Illinois Manufacturing Association President.

The package also renews a number of tax incentives the state has already offered, including credits for electric vehicle makers, incentives for microchip producers, and continuing a Research and Development tax credit manufacturers believe is vital.

“Doing an early extension now to provide certainty to 2032, is critically important to technology and manufacturing to know they can do their development in the state of Illinois,” Denzler said.

Not everyone was in favor of the legislation. Representative C.D. Davidsmeyer (R-Jacksonville) said he feels the state is offering too many incentives to attract new businesses, while not taking care of the ones it already has.

Bill to require tagging for human remains passes House

“A lot of the grants the state provides are grants that are out of the reach of small business owners so I think we need to focus as a state on fostering growth within our own business community,” he said.

The package of incentives also expanded on the state’s film tax credit to help bring film productions to Illinois. The governor made a trip to California recently to pitch film production in the state to Hollywood executives for Illinois.

Copyright 2024 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

For the latest news, weather, sports, and streaming video, head to WCIA.com.

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Content: IBM’s Quantum Computing Moves Could Put Industrial Space in Demand

IBM's quantum computing advancements and industrial collaborations are set to boost demand for specialized industrial spaces, transforming sectors like materials science and supply chain logistics.

IBM’s aggressive expansion in quantum computing is set to significantly impact various industries, potentially increasing the demand for industrial space. The company has been at the forefront of quantum research and development, advancing both its hardware and software capabilities. IBM’s recent developments in their Qiskit software stack, which includes over 100 updates, are aimed at enhancing the performance and usability of quantum circuits. These advancements are crucial for the optimization and execution of quantum algorithms, making them more accessible and practical for industrial applications.

Key Partnerships and Industrial Applications

IBM has partnered with major industry players to explore practical applications of quantum computing. For instance, Bosch has joined forces with IBM to utilize quantum computing for materials science research. This collaboration aims to develop new materials for applications such as electromobility and renewable energy, areas where classical computers fall short. The potential to design materials with higher energy efficiency and reduced resource consumption could revolutionize these sectors.

Impact on Supply Chain and Logistics

Quantum computing is poised to transform supply chain management by enhancing modeling capabilities. The complexity of supply chain models, which involve numerous variables, can be better managed with quantum computing. This technology promises to optimize logistics, improve data sharing security, and facilitate digital twin simulations. IBM’s quantum advancements could thus lead to more efficient and resilient supply chains, further driving the demand for industrial space to house these advanced computing facilities.

The Future of Quantum Computing

IBM’s roadmap includes the development of a 4,000-qubit system by 2025, which underscores the company’s commitment to scaling quantum computing capabilities. This modular architecture will enable the integration of quantum and classical computing resources, opening new frontiers in high-performance computing. As these systems become operational, industries will increasingly require specialized facilities to host and manage these advanced quantum computers, driving a surge in demand for industrial real estate.

About the author

Vishal Jain

Vishal’s reviews provide a comprehensive look at the latest software and apps in the market. His hands-on approach and detailed analysis help readers make informed decisions about the tools they use daily.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

The interplay between quantum computing and cybersecurity necessitates collaboration among governments, academia, and industry to mitigate risks .

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.

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

What are the potential threats of quantum computers?

threatening national security through breaking encryption

What fields can quantum computers advance?

**Patent and Intellectual Property Trends** The patent landscape in quantum computing is rapidly evolving, with a surge in filings by leading companies to secure technological innovations .

IonQ, for example, holds 74 US-issued patents and 163 pending applications, while other major tech companies such as Microsoft, Amazon, and Google are actively pursuing quantum computing patents .

What countries and blocs are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

The US has implemented export controls and blacklisted certain Chinese entities to prevent sensitive quantum technologies from reaching potential adversaries .

Title:

Content: While the UK considers where to channel investment, we need to ensure that quantum technology is at the forefront of those considerations.

Quantum will not only drive our economy, but will also help create new opportunities in different sectors, ranging from healthcare to agriculture.

At the Global Investment Summit (GIS) last month, Prime Minister Rishi Sunak announced a three-fold increase, up to £29.5bn, from the world’s leading investors in new UK projects and capital.

These funds will be channelled into “high-growth projects” in the UK, including quantum technology.

It is great to see quantum being recognised as a potential game changer in the future of the UK economy, and it is important that we continue this momentum.

Quantum’s economic and social value

Quantum provides an exciting opportunity for the economy because the technology has a wide range of possible applications.

The last decade has seen an 81% growth in the quantum sector and now contributes an estimated £1.7bn to the UK economy. Financial services, healthcare and climate change - all major sectors in the UK ecosystem - are just three of the areas that will be enhanced by quantum.

The ability to optimise complex financial portfolios in real-time or simulate molecular interactions with unprecedented accuracy could reshape sectors in their entirety. Molecular interaction simulation can assist the healthcare industry to an immense extent.

Possibilities include being able to improve the process of accurately modelling how new drugs will impact different types of conditions and diseases - leading to breakthroughs in serious and harder-to-treat illnesses.

This technology will also help us in the battle against climate change, specifically in its ability to predict weather more accurately. Current computational power for measuring CO2 does not always predict the correct climate outcome, as we saw with the MET office’s prediction for Storm Ciaran.

As quantum technology is introduced into these sectors, it will forecast weather more accurately than our current conventional methods, therefore enhancing the precision of new data.

However, in order to see these possibilities realised, quantum needs investment from the government; it needs further development and innovation to be able to reach its potential.

Nurturing this sector is crucial not only to cement the UK as a leader in this technology, but to enable us to develop the tools that can tackle pressing global issues, whether that is developing more solar farms or investing in nuclear energy.

Investment moves to boost growth

Earlier in 2023, the UK government published its 10-year vision, the National Quantum Strategy. This outlines £2.5bn of public and private investment into the rapidly growing quantum sector.

At the GIS, Oxford Quantum Circuits stated its intention to raise £85m for research and development projects, while SBI Investment - Japan’s foremost venture capital fund - is leading the raise. This raise will be the largest for Series B in quantum computing ever in the UK, supporting the need for investment to empower growth.

Quantum computers need to be developed and operated by the brightest minds in the field to solve the world’s most pressing challenges – from climate change to accelerated drug discovery.

It is crucial that we make investments that induce growth in all sectors, combating concerns about additional capital in quantum being 'snake oil'.

Investment in devices and systems which rely on quantum mechanics will provide capabilities that classical machines cannot; it is just a matter of time.

Facilitating long-term growth

While investment in quantum has not always led to growth, with several smaller enterprises struggling in the short term, it is important that we are supporting research and innovation in this sector in order to facilitate long-term growth.

Quantum technology has a unique power to solve problems that classical computers cannot manage.

When performing complex calculations, quantum is able to pinpoint a more precise answer among the billions of alternate possibilities.

Therefore, with the potential for groundbreaking advancements and transformative applications, quantum computing is set to drive innovation, reshape industries, and unlock new possibilities we can hardly fathom today, culminating in growth.

Graeme Malcolm OBE is the chief executive and founder of M Squared

**Investment Trends and Market Growth** Global investment in quantum technology has surpassed $36 billion, with major contributions from the US, China, the UK, Canada, and other countries .

How large are global investments in quantum computing?

How large are global investments in quantum computing?

The global quantum computing market is projected to grow from USD 10.13 billion in 2022 to USD 234.06 billion by 2032, at a compound annual growth rate of 36.89% .

The UK government’s £2.5 billion investment strategy and India’s National Quantum Mission exemplify the scale of national commitments [

The UK government’s £2.5 billion investment strategy and India’s National Quantum Mission exemplify the scale of national commitments [

The UK government’s £2.5 billion investment strategy and India’s National Quantum Mission exemplify the scale of national commitments [