Dear Friends,
Greetings of the day! Welcome to the 21st edition of weekly newsletter by OneQuantum India.
We have announced our next monthly event on 30th Oct at 5 PM IST. This is a joint event being hosted by OneQuantum India and OneQuantum Argentina. I am pleased to collaborate with my colleague Rupesh who is leading OneQuantum in Argentina. Our speaker Mark is a Quantum Evangelist from Cambridge Quantum Computing. Quantum computing is poised to revolutionize many aspects of technology. Machine learning, optimization, communication, and chemistry will all become exponentially more sophisticated when using quantum physics for computation. In this presentation Mark will provide the background of quantum computing, what it is and what it is not, expected timeline, principal applications, and major players in the ecosystem. Mark will conclude with ways that you can begin to take advantage of quantum computing.
The event is complimentary, but registration is essential. Feel free to extend the invite to likeminded professionals. We would have after event social networking to enable to meet and interact with other attendees.
https://www.runtheworld.today/app/invitation/36572
I continue to meet various professionals / founders / academia / government officials from the Quantum Community and look forward to setting up a one-on-one interaction with you soon.
Should you have any news to share or authored an article or have delivered a talk or participated in a panel discussion related to Quantum Computing and would wish us to cover the same, feel free to ping me on LinkedIn.
Stay Safe,
Regards,
Chintan Oza
President India Region, OneQuantum
https://www.linkedin.com/in/chintanoza
D-Wave Adopts Gate-Based Quantum Computing; Plans Next Steps
D-Wave Systems, a quantum computing pioneer that has long championed quantum annealing-based quantum computing (and occasionally taken flak for it), revealed earlier this month that it was expanding into gate-based quantum computing. Surprised? Maybe we shouldn't be. D-Wave, which was spun up from the University of British Columbia in 1999, initially targeted gate-based quantum computing but learned how difficult it would be to construct. Early on, the company's approach shifted. The roadmap is mostly a continuation of D-quantum Wave's annealing technology. While gate-based quantum computer manufacturers struggle to reach 100 qubits, D-Wave has a 5000-qubit system with 15-way qubit connection technology and is pursuing a 7000-qubit device. Quantum annealing and gate-based systems, on the other hand, are entirely different creatures. Universal gate-based system quantum computers, such as those studied by IBM, Rigetti, Google, and others, are more adaptable and capable of handling a wide range of applications. They are the last goal. Quantum annealing systems, such as D-Advantage Wave's system, have demonstrated their ability to tackle specific optimization issues very successfully and in a more direct, less-complicated manner than gate-based systems. D-Wave is not abandoning quantum annealing computers.
https://www.hpcwire.com/2021/10/21/d-wave-embraces-gate-based-quantum-computing-charts-path-forward/
Quantum algorithms that can speed up banking procedures by a factor of 100 are now available
Forget what Goldman Sachs claimed about usable quantum computing in finance being five years distant. According to the Spanish firm Multiverse Computing, banks may already gain a 100-fold advantage by employing quantum computers to handle problems such as portfolio optimization and fraud detection.
The startup, which secured a €10 million seed round today, has created a quantum software solution that it sells to clients such as BBVA, Bankia, the European Tax Agency, and the Bank of Canada.
https://sifted.eu/articles/quantum-banking/
Quantum computing-as-a-service-firm Multiverse Computing has raised a total of €10 million
Multiverse Computing, a Spanish quantum computing business (not to be confused with the hypothetical group of many worlds), has secured €10 million in initial capital. The firm employs quantum computing technologies and specializes in providing these choices to clients in the financial industry. The cash will be used to accelerate the company's expansion in all areas. The San Sebastian-based startup has raised €11.5 million to date. As the old age goes, "time is money," and because nothing shouts fast quicker than a quantum computer, it's a safe bet that Multiverse Computing's offer to financial sector participants is substantial. Their Singularity product (not to be confused with THE singularity) allows clients to run incredibly complicated algorithms that can optimize a portfolio or identify fraud on blazingly fast computers using only a spreadsheet as input. In other words, Multiverse Computing provides financial experts with a non-code set of keys that allows them to access the world's most powerful computing equipment. What could go wrong?
Moore’s Law Vs Quantum Computing
For decades, Moore's Law has governed the chip-based computing industry. Is it true that quantum computing follows similar "laws"? What constitutes a law? There are tendencies, theories, and hypotheses that seek to forecast the future based on previous behavior. However, sufficient experience is required to enter the domain of "law." Experience represents not only concepts or theories, but the understanding that since one is relying on evidence and constructing a formula that states, all things being equal, and there's no reason to suppose why they wouldn't be, this formula will continue to hold, at least in the short term. Moore's Law is a well-known case in point.
NASA's Chief Information Officer (CIO) wants to turn on quantum computers and break down data silos within the agency
NASA's work on everything from space missions to climate change research creates mountains of data every day. Jeffrey Seaton, the company's CIO, is persuaded that quantum computers, which use some of quantum physics' unusual phenomena to create extraordinary levels of processing power, will be crucial in uncovering many more enormously valuable discoveries from that information treasure trove. However, despite the present buzz, it may be some time before the devices' actual usefulness can be recognized. When asked when he believes quantum computing would be particularly beneficial for NASA's work at this week's Forbes CIO Next virtual conference, Seaton sounded a note of caution: "My guess is it's five years plus still." Seaton, who became NASA's acting CIO in May 2020 after being confirmed as the agency's CIO in January, knows a thing or two about high-performance computing, having overseen that activity for part of his 30-year career at the agency, which began as an intern helping to design robotic hands used to assemble things in space.
Steady Funding of Quantum Tech
A paper emphasizes the risks and advantages of federal investment in quantum computing and other technologies, while emphasizing teamwork and consistent support. According to a Government Accountability Office analysis, quantum technology has the potential to foster innovation in a wide range of businesses, but it would necessitate considerable investment across several economic sectors. The paper investigates where additional financing is needed to spur the deployment and development of quantum technology, notably quantum computing, as well as the benefits and downsides of further investment. "According to the study, future quantum computers might outperform normal computers in some activities, such as modelling chemical interactions for drug research and other reasons," said Karen Howard, the GAO's Science, Technology Assessment, and Analytics.
Video of the week
Cambridge Quantum’s Ilyas Khan on the Future of Quantum Computing by eweek.com
Ilyas Khan, Director and CEO of Cambridge Quantum, forecasts milestones in the future of quantum computing, and details the company’s natural language processing toolkit and library.