Category Archives: Quantum Computing

The US Department of Energy (DoE), the most influential body in the way the largest supercomputers are designed and built, has been looking beyond CMOS long before the introduction of exascale systems.

Agencies have made multiple bets that quantum computing will play an important role in the future of large-scale scientific computing, whether as an accelerator of some sort or as a more general-purpose system of the future. There is. With so many projects scattered around, its difficult to maintain current totals, but at current rates, DoE will invest well over $ 1 billion in future quantum technology by the end of 2022. Its possible, and its not unreasonable to think that this doesnt include millions of dollars. Reserved to build the quantum internet.

That gambling dollar figure continues to grow with an additional $ 73 million added today.

DoE has been strong in funding quantum computing for the past few years. Over the course of five years, it has pushed $ 115 million into this area from comprehensive programs like Q-Next, splitting its funding into the quantum application and domain areas (widely referred to by DoE as Quantum Information Science or QIS). increase). The system, even if the realization of that funding could be 10 years (or more) ahead and still might not replace traditional supercomputers.

In 2019, DoE awarded more than $ 60 million for quantum computing in communications, and in January 2020 announced $ 625 million for the new quantum computing center. $ 30 million for QIS in key application areas in March of this year. It will be added to the $ 115 million Q-Next program at Argonne National Laboratory. All of this does not include DoE funding that works with NSF and other institutions and programs, in addition to the $ 73 million announced today. So perhaps its already over a billion.

This week, DoE funds new thinking and experimental and theoretical efforts to promote understanding of the quantum phenomena of systems that can be used in Quantum Information Science (QIS) and the use of quantum computing in chemistry and materials science research. Announced $ 73 million to offer .. This influx of investment 29 projects Above all, more than 3 years to new materials, cryogenic systems and algorithms.

Very few winners have focused on the application, and the majority of the funding seems to support the quantum hardware effort. This includes projects focused on creating qubits (materials, enhanced stability, all-new qubit types), fault tolerance, and error correction. Some efforts focus on quantum simulation in traditional systems.

The award spans various universities and national laboratories. The Berkeley National Lab has two awards, one group focusing on the superconducting structure of scalable quantum systems, and the other team developing f-element qubits with controllable coherence and entanglement. I am. Argonne National Laboratory also has two groups, one focusing on entanglement issues and the other focusing on quantum spin coherence of photosynthetic proteins.

Other notable programs funded include work on applications such as quantum chemistry (Emory University) and molecular dynamics / materials science (University of Southern California). There are also some award-winning teams that focus on specific programming-related challenges.

The project was selected based on a peer review under the DOE Funding Opportunity Announcement Materials and Chemical Science Research for Quantum Information Science by the Department of Basic Energy Sciences (BES) of DOE. NS DOE Science Bureaus efforts in QIS It is notified by community input and applications focused on target missions such as quantum computing, quantum simulation, quantum communication, and quantum sensing. DOEs Science Department supports 5 National QIS Research Center A diverse portfolio of research projects, including recent awards for promoting QIS in areas related to nuclear physics and fusion energy science.

Quantum science represents the next technological revolution and frontier in the information age, and the United States is at the forefront, said Energy Secretary Jennifer M. Granholm. National Labs will strengthen resilience in the face of increasing cyber threats and climate disasters, paving the way for a cleaner and safer future.

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U.S. DoE sends another $ 73 million into the future of Quantum

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U.S. DoE sends another $ 73 million into the future of Quantum - Illinoisnewstoday.com

Quantum Computing Market by Component, Application, Services, and Region- Forecast to 2025

The Global Quantum Computing Market Research Report 2021-2025 is a significant source of keen information for business specialists. A report published by Market Insights Reports is an overall investigation and thorough information in regards to the market size and market elements of the Quantum Computing. It furnishes the business outline with development, historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the worth chain and its wholesaler examination. The Quantum Computing market study gives extensive information which upgrades the agreement, degree, and use of this report. This is a latest report, covering the COVID-19impact on the market.

The Quantum Computing market is expected to grow from USD 472 million in 2021 to USD 1,765 million by 2025, at a CAGR of 30.2%.

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Top Companies in the Global Quantum Computing Market are Sterimar, LABORATOIRE DE LA MER, Gerolymatos InternationaL, Humer (Laboratoire URGO), Gifrer, GSK, Nacur Healthcare

Quantum computing is gaining traction in the banking and finance services industry, which is focusing on increasing the speed of trade activities, transactions, and data processing manifolds. One of the significant potential applications of quantum computing is the simulation. Quantum computing helps in the identification of an improved and efficient way to manage financial risks. The processing time and the costs of high-quality solutions can increase exponentially if classical computers are used in financial institutions, while quantum computers can carry out speedy operations at optimized costs, resulting in cost savings and new opportunities for revenue generation

Rise in investments in quantum computing technology-

Various government agencies related to the global space and defense sector are investing increasingly in the development of quantum computing technology so that different optimization and simulation strategies can be implemented with quantum computers. Governments of various countries across the world are making significant investments to support their research institutes for the development of quantum computing technology. China is investing significantly in research and development activities related to quantum computing technology. Governments of the US and Australia, as well as of the countries of the European Union, are forging ahead with quantum computing initiatives. For instance, in August 2017, the Commonwealth Bank (CBA) joined telco firm Telstra, the Federal Government, the New South Wales Government, and the University of New South Wales (UNSW) in a USD 83 million venture to establish the first quantum computing company of Australia.

Quantum Computing Market Segmentation:

This report fragments the Global Quantum Computing Market based on Types are-

Simulation

Optimization

Sampling

Based on Application, the Global Quantum Computing Market are divided into-

Defense

Banking & Finance

Energy & Power

Chemicals

Healthcare & Pharmaceuticals

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The Quantum Computing report contains detailed country-level analysis, market revenue, market value and forecast analysis of Quantum Computing Market (2016-2027) of these regions are covered:

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Quantum Computing Market 2021-2025Top Trends, Business Opportunity, and Growth Strategy The Manomet Current - The Manomet Current

After receiving a cash grant of $25 million back in 2019 to establish the first-ever National Science Foundation, Quantum Foundry, UC Santa Barbara researchers have begun developing a new material that would enable quantum information-based technologies like quantum computing, sensing, communications, and simulations.

Today, researchers have succeeded in designing a new superconductive material, a breakthrough in materials science.

(Photo: iStock by Pexel)

In a study published in the journal Nature Materialstitled "Unconventional Chiral Charge Order in Kagome Superconductor KV3Sb5" Stephen Wilson, Foundry co-director and UCSB materials professor, highlights how the new material was developed into a prime candidate as a superconductor. A superconductor is a material in which electrical resistant fades and magnetic fields are expelled. It can also be indispensable in future quantum physics applications.

Previously, a study described a new material known as cesium vanadium antimonide (CsVSb) that was observed to exhibit a mixture of characteristics involving a patterning of self-organized charges intertwined with superconducting state. As it turns out, the unique characteristics discovered in the study were exhibited by similar materials, including KVSb and RbVSb, being the subject of the recent paper, as reported by the Current.

ALSO READ: Quantum Tech One Step Closer With New Single-Photon Switch

Wilson noted that the materials from the group of compounds are expected to host a wide variety of charge densities and wave physics since its peculiar nature is self-organized patterning of electrons and is the focus of their recent work.

The predicted charge density wave state discussed along with other exotic physics are due to the network of vanadium ions in the new material, as reported by Phys.Org. Theyform a corner-sharing network of triangles that are known as kagome lattices. KG SB was discovered as a rare metal built from these kagome lattice planes, and surprisingly, also superconducts. Some of the material's other properties have led the researchers to speculate that the charges may form small loops of currents, creating a localized magnetic field.

For years, materials scientists and physicists have predicted that a material would one day be made to exhibit the form of charge density wave that breaks the time-reversal symmetry.

Wison explains that this means that the magnetic moment is broken by certain patterns on the kagome lattice, where the charge moves around a tiny loop. The loop is similar to a current loop, which will render a magnetic field. This state would be a new electronic state of matter that would have significant consequences on underlying unconventional superconductivity.

This is the kind of scientific work for which the Quantum Foundry was established for. It plays a lead role in developing new materials, with its researchers discovering new superconductivity and finding signatures that indicate the repossession of charge density waves in newly developed materials. Now, the materials are studied worldwide due to the numerous aspects of interests of various communities.

If KVSb becomes what is suspected of being, it could be utilized to create a topological qubit that is useful and necessary in quantum information applications, such as quantum computing and sensing.

RELATED ARTICLE: Quantum Error Computing Source Identified Thanks to Sydney University Machine Learning

Check out more news and information on Quantum Physicsin Science Times.

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Superconductivity Research: Researchers Develop New Material that Enables Quantum Information-Based Technology - Science Times

A tale of next-gen innovation in the Adriatic region and a tale of woe in India top todays pile of news.

TIM and its international unit Sparkle have participated in what the Italian operator says is the first public demonstration of an international quantum connection on optical fibre between three countries: The secure connections were set up between Trieste in Italy, Ljubljana in Slovenia and Rijeka in Croatia. Attendees at the G20 meeting currently ongoing in Trieste were able to watch a video stream of a live concert performed by three quartets (one of which is pictured above) that was secured using quantum cryptography. The connections were set up and managed by TIM and Sparkle in collaboration with the University of Trieste and the National Institute of Optics of the National Research Council (CNR). A connection was established for the quantum distribution of cryptographic keys through trusted nodes, a fundamental element to ensure the extension of quantum networks over large distances, noted TIM. The technological solution adopted, with nodes at linear distances ranging from 80 to 100 kilometres between the three countries, used highly innovative quantum communication architectures with high security levels, it added. The demonstration was set up as part of the European CommissionsEuroQCI (European Quantum Communication Infrastructure) project. For further details, seethis press release.

In India, it has hardly come as a surprise that Gopal Vittal, the CEO of Bharti Airtel, has announced that the country needs three private mobile operators for competition to thrive in the sub-continent. He added that he would like the national government to provide some sort of help to what he describes as a financially-stressed industry. His intervention came as the long-advertised imminent collapse of Vodafone Idea became even more imminent. In essence, Vodafone Idea is broke and saddled with unmanageable debts. Despite commanding a market share of more than 20% in one of the worlds largest mobile markets of almost 1 billion active mobile connections, Vodafone Idea has neither a plan nor the money to pay down those debts. Yesterday its already depleted share price fell by a further 17 per cent as the company went cap-in-hand to the government begging for cash. Lending institutions exposed to Vodafone Idea are holding urgent talks to decide what to do. The choices are stark: throw in the towel and take the loss or continue to throw good money after bad. Yesterday, billionaire businessman K M Birla offered to donate his 17 per cent stake in the tattered telco to the government, or any other entity, in an effort to stave off what many analysts now see as the inevitable bankruptcy of Vodafone Idea. Birla also stepped down as non-executive director and non-executive chairman of the telco. If Vodafone Idea collapses, India, which not so many years ago had more than 10 mobile operators, will be left essentially with two major privately-owned operators Reliance Jio (about 36% share) and Bharti Airtel (about 30% share) and state-owned BSNL, which is hardly in great shape with a market share of about 10%.

After two years under house arrest in Canada, Huawei CFOMeng Wanzhous extradition hearing is nearing its conclusion, with her lawyers, in what seems like a last-ditch attempt to prevent her being handed over the US authorities, questioning the reliability of information presented to the proceedings by the US legal team,reports Reuters.

Amazon Web Services (AWS) is working with researchers at the National University of Singapore on both the development of new algorithms for quantum computing and on simulation techniques that, later, will have commercial application with real data in a quantum environment. According to an MOU signed on Monday this week, AWS will gain access to National Universitys Quantum-Safe Network and, via that, will conduct experiments and integrate them into Singapores fibre networks to observe quantum technology in non-laboratory application. The initial intent is to provide solutions to support Singapores Smart Nation Plan in areas including traffic optimisation and shipping and port operations. The university will train staff in commercial business in Singapore to become experts in quantum computing. Central to the agreement is the Quantum Engineering Program (QEP), which is a five-year-long initiative managed and hosted by the National University. The QEP began in 2018 with the remit to take abstract quantum physics theory and turn them into commercial technologies. It is halfway through that plan.

With every technological advance theres a criminal as well as beneficial advantage. In the UK, one of the very latest manifestations is roaming gangs of thieves on e-scooters invading farmland to steal GPS technology. E-scooters, which currently are not regulated or required to be licensed are becoming the bane of urban living. Ridden on roads, pavements, grass, up alleys, down tracks and round the mulberry bush they they are cheap(ish) (or easy to steal), quick, silent and increasingly deadly. Pedestrians have been killed in hit and run incidents and serious accidents are commonplace. Now the scourge has spead to the countryside. GPS is a vital and expensive component of modern farming providing highly accurate mapping, optimum planting and harvesting routes and permitting farmers to maximise productive land use. Global equipment on tractors etc., can cost many thousands of pounds per vehicle and per fixed installation and there is a growing, thriving and lucrative international black market in hot GPS equipment. The new Annual Rural Crime Report from the insurance company, NFU Mutual, which specialises in providing coverage for farmers and the agricultural sector (NFU stands for National Farmers Union), shows that while thefts from farms fell by 20 per cent in 2020 during the pandemic lockdowns, when even thieves skulked at home, the company nonetheless paid farmers 2.9 million in compensation for the theft of farm vehicles and associated technology. Farmers are also increasingly being targeted by cyber-criminals with phishing emails about post-Brexit agricultural payments while scams for machinery and technology become more and more commonplace.

- The staff, TelecomTV

Originally posted here:

Whats up with... TIM & Sparkle, Vodafone Idea, Huawei - TelecomTV

A Quantum System One, IBM's flagship integrated superconducting quantum computer, is now available on-premises in the Kawasaki Business Incubation Center in Kawasaki City.

IBM has unveiled a brand-new quantum computer in Japan, thousands of miles away from the company's quantum computation center in Poughkeepsie, New York, in another step towards bringing quantum technologies out of Big Blue's labs and directly to partners around the world.

A Quantum System One, IBM's flagship integrated superconducting quantum computer, is now available on-premises in the Kawasaki Business Incubation Center in Kawasaki City, for Japanese researchers to run their quantum experiments in fields ranging from chemistry to finance.

Most customers to date can only access IBM's System One over the cloud, by connecting to the company's quantum computation center in Poughkeepsie.

Recently, the company unveiled the very first quantum computer that was physically built outside of the computation center's data centers,when the Fraunhofer Institute in Germany acquired a System One. The system that has now been deployed to Japan is therefore IBM's second quantum computer that is located outside of the US.

The announcement comes as part of a long-standing relationship with Japanese organizations. In 2019, IBM and the University of Tokyo inaugurated the Japan-IBM Quantum Partnership, a national agreement inviting universities and businesses across the country to engage in quantum research. It was agreed then that a Quantum System One would eventually be installed at an IBM facility in Japan.

Building on the partnership, Big Blue and the University of Tokyolaunched the Quantum Innovation Initiative Consortium last yearto further bring together organizations working in the field of quantum. With this, the Japanese government has made it clear that it is keen to be at the forefront of the promising developments that quantum technologies are expected to bring about.

Leveraging some physical properties that are specific to quantum mechanics, quantum computers could one day be capable of carrying out calculations that are impossible to run on the devices that are used today, known as a classical computers.

In some industries, this could have big implications; and as part of the consortium, together with IBM researchers, some Japanese companies have already identified promising use cases. Mitsubishi Chemical's research team, for example, has developed quantum algorithms capable of understanding the complex behavior of industrial chemical compounds with the goal of improving OLED displays.

A recent research paper published by the scientistshighlighted the potential of quantum computers when it comes to predicting the properties of OLED materials, which could eventually lead to more efficient displays requiring low-power consumption.

Similarly, researchers from Mizuho Financial Group and Mitsubishi Financial Group have been developing quantum algorithms that could speedup financial operations like Monte Carlo simulations, which could allow for optimized portfolio management thanks to better risk analysis and option pricing.

With access to IBM's Quantum System One, research in those fields is now expected to accelerate. But other industry leaders exploring quantum technologies as part of the partnership extend from Sony to Toyota, through Hitachi, Toshiba or JSR.

Quantum computing is still in its very early stages, and it is not yet possible to use quantum computers to perform computations that are of any value to a business. Rather, scientists are currently carrying out proofs-of-concept, by attempting to identify promising applications and testing them at a very small scale, to be prepared for the moment that the hardware is fully ready.

This is still some way off. Building and controlling the components of quantum computers is a huge challenge, which has so far been limited to the confines of specialist laboratories such as IBM's Poughkeepsie computation center.

It is significant, therefore, that IBM's Quantum System One is now mature enough to be deployed outside of the company's lab.

"Thousands of meticulously engineered components have to work together flawlessly in extreme temperatures within astonishing tolerances," said IBM in a blog post.

Back in the US, too, quantum customers are showing interest in building quantum hardware in their own facilities. The Cleveland Clinic, for example,recently invested $500 million for Big Blue to build quantum hardware on-premises.

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IBM's newest quantum computer is now up-and-running: Here's what it's going to be used for - ZDNet

As per the findings of a revised market research by Persistence Market Research, the worldwide quantum computing market insight reached a valuation of around $5.6 billion in 2020, and is anticipated to surge at a CAGR of 33.7% over the next ten years.

Major companies are developing quantum computers focused on delivering free access to their quantum systems through cloud platforms, with the objective of creating awareness and a community for developers working on quantum computing technology.

Through this new way of offering access, companies are targeting universities, research groups, and organizations focused on quantum computing to practice, test, and develop applications of quantum computing.

The COVID-19 epidemic outbreak has disrupted different industries, including the quantum computing space. Demand for quantum computing software, machine learning, cloud-based quantum computing, artificial intelligence (AI), and quantum computer-as-a-services has been increasing during lockdowns. This is fueling demand for quantum computing software and services.

During the outbreak, manufacturing as well as design and development of quantum computing devices declined by nearly 5%-7% in Q3-Q4 2020, due to falling production across East Asian and North America factories, as both regions are the worlds major quantum computing device manufacturers and suppliers. However, according to report, production has become pretty stable in the first half of 2021 with demand gaining traction again.

Large quantum-computing enterprises in North America, Europe, Canada, China, Australia, India, and Russia are investing in qubit research, while also giving researchers access to cloud-based and commercial cloud services. Over, the market for quantum computing is projected to grow faster from Q3-Q4 2021 onwards.

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Quantum computing market is anticipated to surge over the next decade - Help Net Security

Confidence that quantum computers will solve major problems that are beyond the reach of traditional computersa milestone known as quantum advantagehas grown fast in the past twelve months, according to a new report by Boston Consulting Group (BCG), titled, What Happens When If Turns to When in Quantum Computing?

Investors are moving aggressively to increase the amount they allocate to quantum computing, with two-thirds of all equity investments in the field coming since 2018.

Through 2017, those investments totaled ~$600 million, and that amount nearly doubled over the next three years. At the same time, companies are also significantly upping their QC investment, with 20% expected to dedicate resources to quantum technology by 2023, up from just 1% in 2018, according to a recent Gartner prediction.

Jean-Francois Bobier, a BCG partner and director, and a co-author of the report, predicts the acceleration will continue.

Recent advances and roadmaps from major hardware companies such IBM, Google, Honeywell, IonQ, PsiQuantum and others have increased the confidence that we will have machines powerful enough to tackle important business and society problems before the end of this decade. Impacted companies and governments should get prepared for an accelerated timeline, said Bobier.

This upturn in investment is driven by major advances in quantum computing technology and predictions of massive performance and profit improvements as a result of this new capability. The BCG research estimates that quantum computing will unlock new value across many industries, creating up to $850 billion in annual value by 2040 (see exhibit).

Much of the new investment is being directed toward the challenge of developing lower cost and more reliable quantum computing hardware. Researching and engineering the quantum bits (qubits) that power the computers is extremely difficult and expensive.

In 2020, a total of $675 million in equity investments flowed to quantum computing, with $528 million of that going to hardware development. The year before, the total venture capital of just $211 million was split evenly between hardware and software. BCG expects 2021 to break previous records, with more than $800 million in investments.

BCG predicts a race between five competing quantum hardware technologies over this decade. As of today, they all bear unique performance and scalability tradeoffs, and the jury is out on which ones will achieve a decisive advantage. Large, established companies such as IBM, Google, Honeywell and Amazon Web Services are heavily investing beside well-funded startups such as IonQ, which went public this year at an estimated initial valuation of $2 billion.

Matt Langione, a BCG principal and another of the reports authors, predicted a significant surge in institutional and corporate investment in quantum technology.

The critical change since we last surveyed the market two years ago is the rise of corporate interest and investment. That was the last domino to fall after governments and equity investors began investing heavily, Langione said.

Building quantum computers will require not only hardware and software innovations, but also use-case innovation: businesses will need to identify and scope high-value problems for quantum computers to tackle, Langione added. That is happening now, and its happening with vision and imagination across many industriesnot just pharma and financial services, but energy and retail.

Businesses of all kinds are realizing that this isnt the kind of industry that youll simply be able to buy your way into once it matures.

A copy of BCGs report can be downloaded here.

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Quantum Computing Set To Transform Multiple Industries, Create Up To $850 Billion In Annual Value By 2040, Latest Estimates Show - Al-Bawaba

Quantum computers might look like extravagant chandeliers, but they actually hold great potential. And IBM's top quantum chief said Wall Street's use of the tech is on the cusp of taking off.

Quantum computing unlocks the ability to execute big, complex calculations faster than traditional computers. It does so by leveraging quantum mechanics, which is a form of physics that runs on quantum bits, or qubits, rather than the traditional 1 and 0 that computers typically use.

For years, theoretical research has shown that while quantum computing can be beneficial, the cost for companies to deploy the tech has been too high to justify .

JPMorgan Chase, for example, has worked with IBM to use quantum to test an algorithm that predicted options prices, according to a 2019 IBM research blog.

IBM's quantum computer required less data input, cutting down the number of samples for a given simulation from millions to a few thousand, IBM mathematician Dr. Stefan Woerner said at the time. With fewer samples, he said, computations could be done in near real-time, as opposed to overnight.

While the technology was tested successfully and is ready to use, the bank has kept the capability on the back burner. The resources required for the quantum machine made the classical computer a better, more efficient option, a bank spokesperson told Insider.

But that'll soon change, according to IBM's chief quantum exponent, Bob Sutor.

"When is quantum going to do something more for me than the systems I have already?" Sutor told Insider. "Within a few years we'll start to see that."

That's because more people are starting to test quantum techniques. The more users, Sutor said, the more IBM and others within its quantum network, including JPMorgan, Goldman Sachs, and Wells Fargo can learn, iterate, and build off the rare instances when using quantum over a classical computer makes sense, financially.

In 2016 IBM put quantum on the cloud, and now has about 20 quantum computing systems accessible via the web, Sutor said. Half are free to use.

Roughly 325,000 people have registered to use the tech since 2016 and there are about 2 billion circuits (the tiny bits of code sent to the quantum hardware to run) executed daily, he added.

An open-source tool, called Qiskit, enables users to code in Python when using the cloud-based quantum computers, Sutor said, a coding language specifically chosen for its widespread use and deep roots within the data science and AI communities.

Meanwhile, IBM is making investments to grow the quantum team across scientists and developers, according to a spokesperson who declined to specify numbers. The company is also standing up a quantum computer in Tokyo this year and another on-premise quantum computer in Cleveland, Sutor said.

IBM's quantum computers are getting bigger, too. The firm's first quantum computer was a 5-qubit machine (the number and quality of qubits reflect the machine's compute power). Now it has a machine with 65 qubits; by year end it will build a machine with 127 qubits; and by 2023, IBM will have a machine with more than 1,000 qubits, Sutor said.

Sutor said financial services companies are on the forefront of quantum exploration, adding that "their researchers are very hardcore when you're talking about artificial intelligence and now quantum."

Speed matters for financial institutions performing risk calculations or algorithmic trading, making a strong use case for quantum computing, Howard Boville, head of IBM's hybrid cloud platform, told Insider.

"They're always looking for milliseconds of advantage in terms of latency," he said, referring to the financial firms tapping the technology.

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Here's How IBM Is Driving the Use of Quantum Computing on Wall Street - Business Insider

NEW YORK, July 19, 2021 /PRNewswire/ --As per the findings of a revised market research by Persistence Market Research, the worldwide quantum computing market insight reached a valuation of around US$ 5.6 Bn in 2020, and is anticipated to surge at a CAGR of 33.7% over the next ten years.

Major companies are developing quantum computers focused on delivering free access to their quantum systems through cloud platforms, with the objective of creating awareness and a community for developers working on quantum computing technology. Through this new way of offering access, companies are targeting universities, research groups, and organizations focused on quantum computing to practice, test, and develop applications of quantum computing.

Key Takeaways from Market Study

Request for sample PDF of report: https://www.persistencemarketresearch.com/samples/14758

"Growing trend of cost-effective cloud quantum computing along with technological advancements and rising governmental investments to develop quantum computing solutions for commercial applications to propel market growth," says a Persistence Market Research analyst.

Pharmaceutical Industry Preclinical Drug Discovery and Development of Personalized Medicine

Quantum computers are computational devices that use dynamics of atomic-scale objects to manipulate and store information. Current methods in drug synthesis involve significant approximations on the molecular and atomic level. Material science and pharmaceutical vendors use a variety of computational exhaustive methods to evaluation molecule matches and expect positive effects of potential therapeutic approaches.

Ask an expert for any other query: https://www.persistencemarketresearch.com/ask-an-expert/14758

Accurate predictions often require lengthy simulation processes with the current binary computing system, and it takes years and cost millions of dollars to achieve the desired result. There is an opportunity for quantum computing to replace exiting binary systems in drug discovery processes, as quantum computers can analyze large-scale molecules in less time. Also, high computational power of quantum computers opens up the possibility for developing personalized medicines based on individual unique genetic makeup.

COVID-19 Impact Analysis

The COVID-19 epidemic outbreak has disrupted different industries, including the quantum computing space. Demand for quantum computing software, machine learning, cloud-based quantum computing, artificial intelligence (AI), and quantum computer-as-a-services has been increasing during lockdowns. This is fueling demand for quantum computing software and services.

During the outbreak, manufacturing as well as design and development of quantum computing devices declined by nearly 5%-7% in Q3-Q4 2020, due to falling production across East Asian and North America factories, as both regions are the world's major quantum computing device manufacturers and suppliers. However, according to report, production has become pretty stable in the first half of 2021 with demand gaining traction again.

Large quantum-computing enterprises in North America, Europe, Canada, China, Australia, India, and Russia are investing in qubit research, while also giving researchers access to cloud-based and commercial cloud services. Over, the market for quantum computing is projected to grow faster from Q3-Q4 2021 onwards.

Get full access of report: https://www.persistencemarketresearch.com/checkout/14758

Find More Valuable Insights

Persistence Market Research puts forward an unbiased analysis of the global market for quantum computing market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.

To understand the opportunities in the market, it has been segmented on the basis of component (quantum computing devices, quantum computing software, and services (consulting services, implementation services, and support & maintenance), application (simulation & testing, financial modeling, artificial intelligence & machine learning, cybersecurity & cryptography, and others) and industry (healthcare & life sciences, banking & financial services, manufacturing, academics & research, aerospace & defense, energy & utilities, it & telecom and others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).

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Quantum Computing Market is anticipated to surge at a CAGR of 33.7% over the next ten years - PRNewswire

Honeywell

In the wake of a planned merger announcement for Honeywell Quantum Solutions (HQS) and Cambridge Quantum (CQ), the pair jointly made three significant quantum announcements this week. The announcements covered a lot of ground - quantum error correction, a new quantum volume record, and speedup of important quantum optimization software.HQS and CQ have a long history of working together on quantum projects that involve optimization, scheduling, and other enterprise-level challenges.

Honeywell Quantum Solutions began in 2018 as a business unit of Honeywell International. Its quantum hardware technology of choice is trapped ytterbium ions. Cambridge Quantum (CQ) was founded in 2014 and develops quantum software for quantum chemistry, quantum machine learning, and quantum augmented cybersecurity. The mergershould close in Q3 2021

A big step in error correction

Developing scalable error correction is key to the future of quantum computing. Unlike classical computers, which rarely make errors, quantum computers are error-prone and susceptible to errors caused by environmental factors such as background radiation and noise generated by cabling and electrical components. Qubits, the fundamental computational units for quantum computers, also contribute to errors in other qubits.

The inability to correct errors at scale is one of the main reasons we cannot build large, fault-tolerant quantum computers today.There has been a great deal of research in error correction. These schemes all require the use of some number of physical qubits to produce one good computational qubit.Estimates for the number of physical qubits needed to create one logical qubit vary from five to a thousand or more.For example, 100 logical qubits would require 100,000 physical qubits for error correction at the high end.For really useful work, like large molecule simulation, it would need millions of physical qubits.

Honeywells Model H1 quantum computer pioneered the use of QCCD, an advanced trapped-ion architecture that allows for arbitrary movement of ions and parallel gate operations across multiple zones.

Taking advantage of its QCCD architecture, for a first in error correction, Honeywell researchersdemonstratedrepeatedrounds of real-time quantum error correction. This research represents a significant step toward the realization of large-scale quantum computing.

System Model H1 doubles its Quantum Volume (again)

This week HQS announced it had achieved ameasuredquantum volume of 1,024, the world's highest measured quantum volume.quantum volume measures a quantum system's overall performance.Adding qubits alone cannot increase a quantum computer's power. Its performance is affected by its architecture and the interaction of the number of qubits, connectivity of qubits, gate fidelity, cross talk, and circuit compiler efficiency.Quantum volume is a good measurement because it considers all those factors.

Honeywell has met its forecasted annual doubling of quantum volume (QV) objectives by making continual improvements in the architecture and hardware of its Model H1 quantum computer. The previous measured QV records also achieved by Honeywell were:

A newVQE-type quantum algorithm

VQE algorithms estimate the lowest energy state or a systems minima.VQE is essentially a hybrid machine learning algorithm that splits the work between classical computers and quantum computers. It minimizes cost functions to determine the best way to load several vehicles, the most efficient vehicle routing, or supply chain costs.It is a complex process that requires many iterations.

Cambridge Quantumannounced it has created a proprietary quantum algorithm that needs far fewer qubits to solve optimization problems. The algorithm also uses new methods to accelerate convergence up to 100 times faster, improve the solution quality, and reduce hardware resource requirements.This algorithm demonstrated it performedbetter than the original VQE algorithm and the Quantum Approximate Optimization Algorithm (QAOA).These new methods were developed and implemented on Honeywells System Model H1 quantum processor.

According to the joint press release by HQS and CQC,Ilyas Khan, CEO, and founder of Cambridge Quantum, provided context to the announcements.Faster quantum algorithms can have a profound impact on a variety of industries that face complicated optimization problems. An excellent example is steel manufacturing, where global steel companies typically produce a variety of products. Manufacturing at this scale and complexity on time at minimal cost requires complicated scheduling of several production processes that are challenging for even the largest classical computing systems currently available. Logistics companies, airlines, and in a slightly different context, diversified financial services companies and banks need the same type of solution. By optimizing these processes, companies and, ultimately, its customers and consumers, in general, can see the positive effects. Honeywell and Cambridge Quantum are making it easier for businesses to do its jobs well and effectively."

Analyst notes:

Note: Moor Insights & Strategy writers and editors may have contributed to this article.

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Quantum Triple Play For Honeywell And CQC- Major Error Correction Research, New World Record For Quantum Volume, And New VQE-Type Quantum Algorithm -...