The Week in Quantum Computing - September 11th - The Winter is Coming edition
Issue #151
The Week in Quantum Computing. Brought to you by Sergio Gago (@piratecto).
Quick Recap
A new approach to Quantum Support Vector Classifier Algorithm (QSVC), demonstrates its potential to revolutionize medical data classification (not quite better than classical yet). Ramy Shelbaya, CEO of Quantum Dice, highlights the essential role of quantum randomness in ensuring cybersecurity in our increasingly connected world. The UK Government's National Quantum Strategy underscores the national priority placed on quantum technology development. 30 projects in the UK selected for phase one of the competition, set to last three months, will share a £2m funding pot. The most promising concepts will progress to develop a prototype in phase two, which has a budget of £13m and will last up to 15 months.. Simultaneously, researchers at Kipu Quantum work on an Efficient DCQO Algorithm for Portfolio Optimization, introducing a faster digital quantum algorithm with implications for financial modeling and risk management. As quantum computing's impact on industries like finance and defense continues to grow, organizations like Moody's and JPMorgan are actively involved, while the Quantum Internet Alliance launches a challenge to foster quantum networking applications. Meanwhile, advancements in quantum simulators are driving the quantum warfare market, emphasizing the critical role of quantum technologies in defense.
We have also seen scalable quantum dot chessboards. Q-CTRL and Diraq partner to secure funding for public-sector quantum projects (bececause in these days, most money is public). A quantum ethical primer: Quantum nationalism, data security, and job displacement are among the complex issues discussed in this context.
And lastly, this week we had our newest SPAC! Zapata (now with AI) merges with Andretti so they can go public. The company has pivoted into the AI world. Not only we see quantum budgets crunching but the IDC market report reduced its expectations due to this.
Are we already in a Quantum Winter?
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The Week in Quantum Computing
Quantum Support Vector Classifier Algorithm Revolutionises Medical Data Classification
creating fast, accurate, and effective models suitable for medical applications remains challenging. The quantum support vector classifier algorithm (QSVC) has been tested on medical datasets, showing promising results. The high classification outcomes of QSVC could provide technical support for improving medical data classification. A Quantum Machine Learning Model for Medical Data Classification was written by Hamza Kamel Ahmed, Baraa Tantawi, Malak Magdy & Gehad Ismail Sayed and published in Machine Intelligence for Smart Applications.
The experimental results of this study were promising. The intelligent model based on the QSVC showed high classification outcomes when compared with other models. This suggests that the QSVC could offer technical assistance in improving medical data classification. Despite the promising results, developing quick, precise, and effective models suitable for medical applications still faces significant challenges.
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September 03, 2023 at 05:30PM
Quantum randomness: Why it’s essential for securing the connected future
Ramy Shelbaya, CEO of Quantum Dice, explores the importance of quantum randomness in maintaining essential cyber safety. Earlier this year, the UK Government announced its National Quantum Strategy, naming the development of quantum technologies a national priority.
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September 04, 2023 at 05:33PM
Paper: Efficient DCQO Algorithm within the Impulse Regime for Portfolio Optimization
We propose a faster digital quantum algorithm for portfolio optimization using the digitized-counterdiabatic quantum optimization (DCQO) paradigm in the impulse regime, that is, where the counterdiabatic terms are dominant. Our approach notably reduces the circuit depth requirement of the algorithm and enhances the solution accuracy, making it suitable for current quantum processors. We apply this protocol to a real-case scenario of portfolio optimization with 20 assets, using purely quantum and hybrid classical-quantum paradigms. We experimentally demonstrate the advantages of our protocol using up to 20 qubits on an IonQ trapped-ion quantum computer. By benchmarking our method against the standard quantum approximate optimization algorithm and finite-time digitized-adiabatic algorithms, we obtain a significant reduction in the circuit depth by factors of 2.5 to 40, while minimizing the dependence on the classical optimization subroutine. Besides portfolio optimization, the proposed method is applicable to a large class of combinatorial optimization problems.
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September 04, 2023 at 05:33PM
Checkmate! Quantum Computing Breakthrough Via Scalable Quantum Dot Chessboard
New approach for addressing quantum dots gives prospects to scale the number of qubits in quantum systems and represents a breakthrough for quantum computing. Researchers have developed a way to address many quantum dots with only a few control lines using a chessboard-like method.
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September 04, 2023 at 11:32PM
Q-CTRL, Diraq Partner to Secure Millions for Three Public-Sector Quantum Projects
Australian companies teaming up to pursue international projects funded by the US & Australian governments aimed at accelerating commercial adoption of quantum SYDNEY, AUSTRALIA, September 5, 2023/EINPresswire.
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September 05, 2023 at 07:31AM
Ethics and quantum computing
New technology and ethics are inseparably linked in today's rapidly evolving technological landscape. Quantum computing is no exception: as we stand on the precipice of a new era of computing, the ethical considerations that arise are complex and far-reaching.
1. Resource Allocation and Inequality: Quantum computing is a resource-intensive technology, both in terms of the physical resources required to build quantum computers and the human resources needed to program and operate them. Such resources are available only to a few nations. Given this, and given the rise in “quantum nationalism” - the development of country-specific quantum programs - will the benefits of quantum computing primarily accrue to the wealthy, developed nations that can afford to invest in it? This could further deepen global socio-economic divides. Within the legal frameworks of the countries QuEra operates in, we seek to provide equitable access to potential users, whether via the cloud or by owning a quantum computer.
2. Misuse of power: a sufficiently powerful quantum computer could one day break many current encryption schemes leading to unparalleled breaches of privacy and security. That’s why many experts warn against bad actors that implement “Store Now Decrypt Later”, capturing encrypted information today while hoping to decrypt it in a few years. This is especially relevant for information with a long shelf life such as medical records or certain financial transactions
3. Accountability and Transparency: The complexity of quantum algorithms could lead to a lack of transparency and accountability. If a quantum algorithm, for instance, makes a mistake or causes harm, it may be difficult to understand why or how it happened. Ensuring such “explainability” is a key requirement of many algorithms such as those deciding the outcome of a loan application. At QuEra, we seek to understand the reasons certain algorithms work and share this knowledge with our customers.
4. Job Displacement: The increased processing power and efficiency of quantum computers could automate many jobs currently performed by humans, leading to potential job displacement. We do our best to support education and re-training programs both to address the potential of job displacement as well as to train the next generation of scientists and technicians that will help build, program and maintain these advanced machines.
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September 05, 2023 at 11:31AM
How quantum computing will revolutionise future financial modelling
With quantum computing representing a paradigm shift for a range of industries globally, we look at how this groundbreaking technology will revolutionise financial modelling.
- The lack of clear ethical guidelines for its use can lead to unethical practices, unregulated experiments, and unfair market advantages.
- Addressing these ethical challenges requires collective efforts from policymakers, researchers, technologists, and other stakeholders involved in quantum computing development.
- Strategies must be developed to mitigate risks associated with data security and ensure fair competition in markets influenced by this technology.
- Quantum computing can significantly benefit risk management in finance by swiftly identifying and measuring risks associated with investments or transactions.
- Despite the potential downsides, such as increased susceptibility to cyber threats, the transformative impact of quantum computing on global financial markets seems promising.
- Society has a responsibility to uphold fairness and integrity while harnessing the benefits of quantum computing effectively.
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September 06, 2023 at 05:31PM
Bank of Canada explores impact of quantum computing on CBDCs
The Bank of Canada has called in local specialist evolutionQ for a research project involving quantum-safe cybersecurity technologies for greenfield digital currencies.
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September 06, 2023 at 05:32PM
Racing Legend Michael Andretti Bets on AI With $200 Million Zapata Merger
IndyCar icon Michael Andretti's SPAC has agreed to merge with startup Zapata AI, which is already helping his racing teams on the track.
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September 06, 2023 at 09:32PM
Just How Big – Or Small – Is The Quantum Computing Racket?
we have had our doubts about is if anyone can ever make any money from quantum computing. It is not going to be a volume product, and it is not going to be inexpensive, either. The cost will probably be a fraction of the value of the benefits derived from quantum computing, of course, just like in the HPC simulation and modeling business, but the HPC business has not been particularly profitable over the past six decades, either. […] market researchers there reckoned that quantum computing drove $1.1 billion in sales in 2022 and would grow at a compound annual growth rate of 48.1 percent to reach $7.6 billion by 2027. This did not sound like a terribly huge amount of money to us – that is something on the order of the cost of eight AI training machines capable of training a GPT-4 class models
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September 07, 2023 at 07:31PM
Promising quantum state found during error correction research
Window glass, at the microscopic level, shows a strange mix of properties. Like a liquid, its atoms are disordered, but like a solid, its atom are rigid, so a force applied to one atom causes all of them to move. It's an analogy physicists use to describe a quantum state called a "quantum spin-glass," in which quantum mechanical bits (qubits) in a quantum computer demonstrate both disorder (taking on seemingly random values) and rigidity (when one qubit flips, so do all the others). A team of Cornell researchers unexpectedly discovered the presence of this quantum state while conducting a research project designed to learn more about quantum algorithms and, relatedly, new strategies for error correction in quantum computing.
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September 08, 2023 at 07:32AM
Fund aims to catalyse UK public sector quantum computing
Notable players in Britain’s quantum computing space, including Riverlane and Cambridge Quantum Computing, are among those sharing a £15m prize funding pot.
The Quantum Catalyst Fund aims to identify where quantum solutions can be adopted for the “public benefit”.
The 30 projects selected for phase one of the competition, set to last three months, will share a £2m funding pot. The most promising concepts will progress to develop a prototype in phase two, which has a budget of £13m and will last up to 15 months.
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September 08, 2023 at 12:32PM
DTXL invests in quantum scale up Delft Circuits in round of 6.3 M€
Scale up Delft Circuits is a high-tech supplier in the emerging quantum industry. Its unique cabling platform Cri/oFlex® uses thin flexible superconducting circuits for data transfer into the quantum system. Together with current investors, which includes the seed investor High-Tech Gründerfonds[5], they announce a series A investment of 6.3 M€ in Delft Circuits, of which DTXL contributes 5 M€ for upgrading and further upscaling of the production capacity and organization of Delft Circuits.
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September 08, 2023 at 05:32PM
Finance's quantum computing teams - and who's hiring
Although the recent room-temperature semi-conductor talk ended up falling flat, quantum computing is still very much a progressing field – and one that will turn finance on its head.
JPMorgan is one of the best established (finance) names in the quantum computing space. Its team is headed up by Marco Pistoia, a former IBM “distinguished engineer” and “master inventor”, and, more importantly, a senior manager in quantum computing. IBM’s research into quantum computing is groundbreaking – it and Google are generally considered the industry’s cutting edge. Pistoia's team includes the likes of Charles Lim, a quantum encryption expert, who joined in Singapore in 2022. It's not just the big US banks. Moody’s, the rating agency, is interested in quantum too. Its head of artificial intelligence, machine learning, and quantum computing, Sergio Gago, might inspire bank technologists that don’t have a quantum background. Gago is a graduate in telecommunications engineering, and before being named Moody’s quantum computing chief, was an MD in the media solutions team.
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September 08, 2023 at 06:32PM
Quantum Internet Alliance Launches Quantum Internet Application Challenge
“The role of the community—from students and enthusiasts to scientists and industry leaders—in our mission of building a global quantum internet is pivotal. The Challenge is to come up with an innovative idea for an application that utilises quantum network functionalities. The goal is to demonstrate this idea with a prototype by using SquidASM to simulate the quantum functionality. QIA’s application simulator SquidASM is an SDK developed by QIA partner QuTech specifically to simulate quantum networking applications. This toolkit provides a selection of quantum primitives, enabling participants to integrate existing elements or devise advanced protocols.
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September 09, 2023 at 10:32PM
Advancements in Quantum Simulators Drive Dominance of Land Application Segment in the Global Quantum Warfare Market to 2035
The global quantum warfare market is experiencing a momentous surge in growth, fueled by technological breakthroughs and innovative defense applications. Recent years have witnessed significant advancements in quantum technologies, leading to new opportunities in the defense sector. The market's expansion is primarily driven by governmental efforts to bolster the defense industry, coupled with the increasing adoption of Artificial Intelligence (AI) and Internet of Things (IoT) technologies for defense communication.
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September 09, 2023 at 10:32PM