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Global IT giant to partner with U of C on quantum computing centre – Calgary Herald

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A global IT giant has announced plans to partner with the University of Calgary to create a centre of excellence for quantum computing in the city.

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A global IT giant has announced plans to partner with the University of Calgary to create a centre of excellence for quantum computing in the city.

Bangalore-based Mphasis Ltd., a provider of IT outsourcing services, announced Wednesday that it will set up a Canadian headquarters in Calgary. The move is expected to create 500 to 1,000 local jobs within the next two to three years, according to company CEO Nitin Rakesh.

The company will also establish what it dubs the Quantum City Centre of Excellence at the University of Calgary to serve as a hub for companies focused on the commercial development of quantum technologies. Mphasis will be the anchor tenant and will work to draw in other companies working in the field.

Quantum computing uses the principles of quantum physics to solve problems. It is considered to be a huge leap forward from traditional computer technology, and has futuristic applications in the fields of medicine, energy, fintech, logistics and more.

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In a virtual news conference Wednesday, Premier Jason Kenney called quantum computing one of the most promising emerging high-tech sectors. He said the partnership between Mphasis and the University of Calgary will help make Alberta a destination of choice for investment capital and talent in this growing field.

The goal is to make Alberta a force to be reckoned with in quantum computing, machine learning and AI economically, but also intellectually, Kenney said. Post-secondary students will have incredible opportunities to master the most sought-after skills through this venture.

Mphasis also announced its plans to establish Sparkle Calgary, which will offer training in artificial intelligence and automation technology for Albertans seeking a career transition. Rakesh said through this platform, Mphasis hopes to help address the skills shortage that currently plagues Albertas tech sector, while at the same time helping out-of-work Albertans find a place in the new economy.

Theres a ton of data expertise that sits at the heart of the oil and gas industry, Rakesh said. So can we take that ability to apply data knowledge, data science, and really re-skill (those workers) toward cloud computing . . . Thats the vision we want to see.

The University of Calgary has been working for some time to help establish Alberta as a leader for quantum computing research through its Institute for Quantum Science and Technology a multidisciplinary group of researchers from the areas of computer science, mathematics, chemistry and physics. The U of C is also a member of Quantum Alberta, which aims to accelerate Quantum Science research, development and commercialization in the province.

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U of C president Ed McCauley said Wednesday he hopes that the partnership with Mphasis will lead to the birth of a new wave of startup companies in Calgary, ones that will use cutting-edge technology developed on campus.

This (quantum) technology will not only create its own industry, but it will fuel advances in others, McCauley said. Calgary will not only be an energy capital, it will be a quantum capital, too.

The federal government has identified quantum computing as critically important to the future economy. The most recent federal budget includes $360 million for a National Quantum Strategy encompassing funding for research, students and skills development.

Mphasis is the second major Indian IT company in recent months to announce it will set up shop in Calgary. In March, Infosys a New York Stock Exchange-listed global consulting and IT services firm with more than 249,000 employees worldwide said it will bring 500 jobs to the city over the next three years as part of the next phase of its Canadian expansion.

Like Mphasis, Infosys has formed partnerships with Calgarys post-secondary institutions to invest jointly in training programs that will help to develop a local technology talent pool.

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Global IT giant to partner with U of C on quantum computing centre - Calgary Herald

A Computer Memory Based on Cold Atoms and Light – Physics

June 2, 2021• Physics 14, s72

Merging ideas from neuroscience, machine learning, and quantum technology, researchers propose a new information-storage device.

Many recent computing advances derive their inspiration from models of the human brain. For example, researchers have created a machine-learning model that mimics the brains ability to recognize new patterns by recalling previously encountered ones. So far, implementations of associative memory have largely involved conventional silicon-chip-based computers. Now, Benjamin Lev of Stanford University and colleagues propose a way of implementing associative memory with multiple Bose-Einstein condensates (BECs) and an optical cavity. The researchers say that their method should be better at learning and recognizing patterns than the standard associative memory design.

A computer with associative memory stores information in a mathematical function that looks like a potential energy landscape with many local minima. Each local minimum corresponds to a separate piece of information. To retrieve that information, the device is initialized in some state close to the relevant minimum, and it then finds that minimum. This process effectively reconstructs data from imprecise versions of that data. While everyday technologies typically dont use associative memory techniques, researchers are interested in them because of their speed and their robustness to user mistakes.

The researchers proposed device stores information in the energy landscape of multiple, separated BECs contained within the same optical cavity. The spin of each BEC interacts with that of the others by scattering photons in the cavity. They can engineer the energy landscape of the system by manipulating the position of each BEC. To retrieve information, the BECs are collectively initialized in a particular spin state, which relaxes into an energy minimum that is imaged using light emitted from the cavity. The researchers think they can build this device in the near term, as they have already demonstrated all the elements in the design.

Sophia Chen

Sophia Chen is a freelance science writer based in Columbus, Ohio.

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A Computer Memory Based on Cold Atoms and Light - Physics

Quantum Blockchain inks deal with cryptography expert to optimise Bitcoin mining operations – Proactive Investors UK

The company said it contracted the expert under a one-year agreement to research tangible and disruptive optimisations that can be made within Bitcoin mining which could result in faster execution and energy savings

Quantum Blockchain PLC () said it signed a service agreement with a UK-based international cryptography expert specialising in cryptocurrency mining blockchain optimisations as part of a research & development (R&D) strategy for Bitcoin mining.

The AIM-listed company saidthere are tangible and disruptive optimisations that can be made within the Bitcoin mining process that could result in faster execution and energy savings. The first set of optimisations is expected to be ready for testing in the coming weeks.

Quantum also said the aim of the work is to improve the efficiency of Bitcoin mining by targeting a material reduction in energy usage and faster hash processing. Thiswill increase the probability of successful mining operations. The firmintends to apply for patents over any relevant intellectual property generated during the process.

Meanwhile, the group said existing and imminent mining optimisations are expected to be made available on commercial cores within the next three months, on field-programmable gate array (FPGA) computer chips within six months and ultimately on application-specific integrated circuit (ASIC) chips in the second half of 2022.

Quantum said this line of R&D represents one of its out-of-the-box solutions to achieve highly competitive Bitcoin mining results, adding it willexplore other proof-of-work cryptos and their competitive mining advantages alongside the cryptography expert.

As part of the service agreement, the firm said it has awarded the consultant options over 10mln new shares in the company exercisable at 5p each between February 15, 2022, and August 15, 2022.

Securing the services of an international expert, who already has significant experience and know-how in Bitcoin mining optimisations, is one of the first concrete moves by the company to challenge the substantial Bitcoin market, Quantums chief executive and chairman Francesco Gardin said in a statement.

The company is addressing, in parallel, other cutting-edge approaches to Bitcoin mining, including, among others, the use of quantum computing. More detailed announcements will be made in due course. We believe that this out-of-the-box approach gives us the potential to play a disruptive role in the Bitcoin mining industry, the CEO added.

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Quantum Blockchain inks deal with cryptography expert to optimise Bitcoin mining operations - Proactive Investors UK

Quantum Chip Market by Trends, Dynamic Innovation in Technology and 2027 Forecasts Covid-19 Analysis The Manomet Current – The Manomet Current

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About Global Market MonitorGlobal Market Monitor is a professional modern consulting company, engaged in three major business categories such as market research services, business advisory, technology consulting.We always maintain the win-win spirit, reliable quality and the vision of keeping pace with The Times, to help enterprises achieve revenue growth, cost reduction, and efficiency improvement, and significantly avoid operational risks, to achieve lean growth. Global Market Monitor has provided professional market research, investment consulting, and competitive intelligence services to thousands of organizations, including start-ups, government agencies, banks, research institutes, industry associations, consulting firms, and investment firms.ContactGlobal Market MonitorOne Pierrepont Plaza, 300 Cadman Plaza W, Brooklyn,NY 11201, USAName: Rebecca HallPhone: + 1 (347) 467 7721Email: info@globalmarketmonitor.comWeb Site:

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Quantum Chip Market by Trends, Dynamic Innovation in Technology and 2027 Forecasts Covid-19 Analysis The Manomet Current - The Manomet Current

ColdQuanta Named to IBM Quantum Network to Help Research Quantum Computing Applications – ExecutiveBiz

IBM has added ColdQuanta to its global community through which the latter will collaborate with other member companies, research laboratories and academic institutions to study practical applications of quantum computing and to advance the said technology.

ColdQuanta said Wednesday it partnered with IBM and joined its Quantum Network to collaboratively develop quantum technologies and push forward the commercialization of quantum computing.

Aparna Prabhakar, vice president of IBM quantum partner ecosystem, welcomed ColdQuanta to the network and said community members work to speed up quantum computings commercial adoption.

[Real-world application across industries is] a key step toward growing the quantum computing community and advancing the technology, commented Prabhakar.

To enable collaboration with IBM-developed quantum computers, ColdQuanta will also integrate with a software development kit that uses open source. Qiskit is designed to provide quantum system interaction tools to accelerate quantum application development.

Joining the IBM Quantum Network and our integration with Qiskit will enable our commercial and government customers to accelerate their quantum computing initiatives and realize the wide-ranging benefits of quantum, said Dan Caruso, executive chairman of ColdQuanta.

The new IBM partner is a Boulder, Colorado-based company that offers the Cold Atom Quantum Technology and plans to launch a 100 qubit quantum computer.

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ColdQuanta Named to IBM Quantum Network to Help Research Quantum Computing Applications - ExecutiveBiz

Big bang theory: Maryland company moves ahead in quantum space race – The Star Democrat

COLLEGE PARK Over the past few decades, quantum computing has developed from what many considered a science-fiction fantasy into what could be the next technological revolution. One local company, College Park-based IonQ Inc., could play a key role.

In what some are calling the quantum space race, governments around the globe are funding quantum computing research in an effort to become the worlds leading innovator. China spends about $2.5 billion on quantum research annually, more than 10 times what the U.S. spends, according to a report in The Wall Street Journal.

The quantum competition, reminiscent of the U.S.-Soviet era Sputnik space race, is expected to heat up under the Biden Administration, which plans to commit $180 billion to research and development and industries of the future, including quantum computing. That spending could provide a boost for IonQ, which was founded just six years ago.

Both Congress and the president have made clear they plan to invest in the research, technology and talent needed to keep the United States in the global vanguard of innovation, said Kara Sibbern, a IonQ spokesperson. At IonQ, we will be working with policymakers to support this effort however we can.

But whether new companies such as IonQ can compete in the brave new world of quantum computing is unclear. IonQ will be up against many U.S. and international companies, including heavy hitters like Google, Microsoft and IBM Corp.

Investors on Wall Street are closely watching the young company. In March, IonQ filed with the Securities and Exchange Commission to go public on the New York Stock Exchange by merging with dMY Technology Group Inc. III, a special-purpose acquisition company, or SPAC, based in Nevada. The deal is valued at about $2 billion. If the SEC approves the transaction, IonQ would be the first company in the U.S. focused specifically on quantum computing to go public.

Like many other companies that use SPACs to raise capital, IonQ is hoping that merging with an acquisition company will allow it to raise capital faster than by using a traditional initial public offering. Merging with dMY affords us greater speed to market, flexibility and ability to focus on business execution, said Sibbern. The deal is expected to be completed this year, but the company couldnt provide an exact date.

The stock offering marks a huge step for a computing technology that not long ago was widely thought to have little promise beyond the theoretical.

Quantum computers use the power of quantum physics to quickly solve problems and perform tasks faster than a conventional computer. The technology could speed up calculations related to finance, drug development, materials discovery, artificial intelligence and others.

Quantum computers function differently from conventional computers, which accounts for their speed. Conventional computers use a large number of tiny transistors, which represent information as either a 1 or a 0. Quantum computers differ in that they use qubits, which can represent and work with both numbers simultaneously. This is due to whats known as superpositioning.

To understand the principle of quantum superpositioning, it is often compared to a coin. Think of a single, stationary coin sitting on a table. It will be in only one of two states: heads or tails. Similarly, a transistor can only be either 0 or 1. But if you spin the coin, you can say its both heads and tails at the same time until the moment you stop it and see what it lands on. This is like a qubit. Until you measure it as a 0 or 1, it can exist in several different states at the same time.

So far, quantum computing is still in the research phase, far from widespread commercial use. IBM unveiled its first commercial quantum computer in 2019, IBM Q System One, but the device is not for sale. Rather, its a cloud-based product that customers can access over the internet to perform calculations.

However, executives at IonQ and other companies believe the industry is close to developing scalable products that can serve business needs.

We believe quantum computing will power the next technological revolution for humankind and that the dawn of the quantum age is here, said Chris Monroe, who co-founded IonQ and serves as the companys chief scientist. Like the information age, quantum is expected to have far-reaching impacts across every facet of our society.

According to Monroe, any corporation with an optimization problem can yield results from quantum computing. Were seeing exciting advances in artificial intelligence by applying quantum to machine learning, which can lead to even greater results, he said.

Important hurdles still exist for quantum. Eddy Zervigon, CEO of Quantum Xchange, a quantum-focused cybersecurity company in Bethesda said that while quantum computers can potentially lead to significant advancements, their speed and power could make it easier for hackers to break into the systems because current encryption methods wont be able to keep up.

This critical point in quantum computing is known as Q-Day, or the day in which quantum computers can render current encryption methods useless. No one is questioning if, but when this day will come, said Zervigon. Quantum Xchange, recently named one of the 20 most promising startups by DC, is dedicated to preparing companies and organizations for Q-Day by offering quantum-safe data protection.

IonQ was founded in 2015 by Monroe and Jungsang Kim. Both are professors in electrical engineering and computer engineering at Duke University in North Carolina. Both have also taught at the University of Maryland and are currently visiting professors in Marylands Physics Department.

The two previously spent more than two decades combined researching quantum physics and engineering. Monroe and Kim would later combine their efforts to publish a scientific paper, Scaling the Ion Trap Quantum Processor, which was published in 2013, and detailed how to build and scale a programmable quantum computer. The paper was noticed by Harry Weller, a venture capitalist with the Maryland-based New Enterprise Association, which provided IonQ with $2 million in seed money.

Between 2015 and 2018, IonQ raised an additional $20 million in funding from Google Ventures, Amazon Web Services and NEA. IonQ would later raise more than $55 million from investors such as Samsung Group, Lockheed Martin Corp. and others.

If IonQ succeeds, it could foster growth of other quantum computing and related companies in Maryland and the Washington area and drive billions of dollars of economic improvement over the next decade in the region, said Monroe.

He added that the University of Marylands support is contributing to the industrys growth. In 2020, IonQ opened a new Quantum Data Center, a 23,000-square-foot center in Marylands Discovery District. The site was made possible in part due to a $5.5 million investment from the university.

Charles Winthrop Clark, a fellow at the National Institute of Standards and Technology and the Joint Quantum Institute, offered a more measured but still optimistic view of quantum computings potential in the region. He notes that while a quantum industry wont do for the Washington metro region what the digital revolution did for Silicon Valley, there will be a lively quantum ecosystem in the DMV.

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Big bang theory: Maryland company moves ahead in quantum space race - The Star Democrat

Quantum internet: The race is on to build an unhackable online world – New Scientist

Great leaps are already being made in creating a super secure quantum internet. It could overturn the role of information in our lives and give us a globe-spanning quantum supercomputer

By Stephen Battersby

Ollie Hirst

MANY of us have uploaded our lives to the internet. Banking, work emails, social media, dating profiles, medical records all that vital, sensitive information. So it is a little disconcerting that the internet has a fatal security flaw. Dont panic; our private information is safe for now. But before very long the encryption algorithms that protect us online are going to crack.

That is the urgent driving force behind a new, more secure kind of internet that harnesses the power of the quantum realm. Once up and running, the system will be able to do a lot more than protect our data. It could bring us unforeseen quantum apps, and maybe become the scaffold for a world-spanning quantum computer of incredible power.

Building the quantum internet is a huge and multi-faceted engineering challenge, but the foundations are already being laid. Networks of fibres are spreading. Scientists are chatting in secret on local networks. There are even plans to use tiny satellites to enable long-distance quantum connections. Sooner or later, we could all be joining the quantum information superhighway.

Human culture and industry have long been based on information. If you could get the right kind of information, understand it and share it, you could gain power and profit. The rise of the internet as we know it cemented the role of information and we are only beginning to feel its profound effects. Now we are at the threshold of a new information age, which could change things all over again.

Conventional, classical computers deal in digital units called bits. This is the amount of information in the outcome

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Quantum internet: The race is on to build an unhackable online world - New Scientist

Getting The Big Banks To Confront The Quantum Challenge – Forbes

The CEOs of Americas biggest banks and financial institutionsBank of America BAC , Citigroup C , J.P. Morgan, Goldman Sachs GS , Morgan Stanley MS , and Wells Fargo WFC are getting a grilling today up on Capitol Hill.Theyll be asked about why theyve made so much money during COVID; and why they arent loaning out more money to help us recover from COVID; as well as getting the usual questions powerful bankers draw from our politicians, both Republicans and Democrats.

But theres one question they should be asked, but wont be: what are they doing to protect their assets and Americas financial industry against future quantum attack?Because getting the big banks to lead the charge in getting America quantum ready is as much a matter of social responsibility as promoting racial equity; and as fundamental to our national security as it is a matter of their bottom lines.

The Colonial Pipeline debacle has revealed how vulnerable our infrastructure is to cyberattack, including a future quantum computer attack.My last column revealed how important it is to use quantum and post-quantum solutions to protect our cyber vulnerabilities, now and in the future.This is even more true of our financial infrastructure, including our leading financial markets, our global payments system, and the Federal Reserve system itself.

NEW YORK, NEW YORK - MAY 11: The New York Stock Exchange stands in lower Manhattan after global ... [+] stocks fell as concerns mount that rising inflation will prompt central banks to tighten monetary policy on May 11, 2021 in New York City. By mid afternoon the tech-heavy Nasdaq Composite had lost 0.6% after falling 2.2% at its session low. (Photo by Spencer Platt/Getty Images)

Our preliminary econometric research at the Hudson Institutes Quantum Alliance Initiative indicates that the cost of a quantum computer attack on our financial system would be catastrophicfar more than a successful conventional cyberattack.In February authors Welburn and Strong of the RAND Corporation applied a standard Input-Output (I-O) model to conclude that cyber-attack disrupting JP Morgan Chases business operations for a single day would result in over $3.5 Billion in total losses for the American economy.

Unfortunately, that model ignored the network contagion effects within the financial sector.We estimate that a single quantum attack on one of the five largest financial institutions in the U.S. that disrupts their access to the Fedwire Funds Service payment system would cause a cascading financial failure costing anywhere from $730 Billion to $1.95 Trillion.Indeed, a quantum computer attack could impair nearly 60% of total assets in the banking system due to bank runs and endogenous liquidity traps.

We know from conversations with Treasury Department officials that banks and the Fed work closely with the federal government and Treasury on cybersecurity issues.But despite warnings from the last Office of Financial Research report on the quantum risk to financial stability, theres still a big hole when it comes to confronting the quantum threat.In fact, the big banks interest in quantum computers tends to revolve around how those computers amazing capabilities will be to serve customers and analyze market trends and risks.Thus far only J.P. Morgan and VISA V seem to be thinking about the day when a powerful quantum computer can break the most widespread cryptographic methods currently used in cybersecurity. The fact is, the leadership of all the big banks will be crucial for protecting our economy from a quantum-induced financial meltdown, or worse.

Therefore, its time to propose that the banks join together to create a Quantum Task Force made up of the countrys largest financial institutions, to promote quantum and post-quantum solutions to cyberattacks not just for themselves but throughout the financial system. Recent research from the New York Fed reveals that a cyberattack just one vulnerable mid-sized bank (less than $10 billion in assets, or less than five percent the size of Goldman Sachs) can bring down the whole system. Our preliminary study here at the Hudson Institutes Quantum Alliance Initiative indicates that the result would be catastrophic.

Offsetting a risk of this magnitude should be a national, as well as industry, imperative.Its a problem that wont wait until 2024 when NIST is expected to begin the roll out of its post-quantum cryptography standards. The array of tools currently available, from quantum-resistant algorithms and double encryption to quantum key distribution for the most vital corporate communications, can protect institutions today and tomorrow, against a quantum attack or the conventional threats that are already lurking out there.

It will no longer suffice to claim that the quantum threat is far off out on the horizonten years or morethat we dont have to worry about it before the next shareholders meeting. As my next column will show, the threat may be coming sooner than the experts have predicted.

Fortunately, our biggest financial institutions have the know-how, the resources, and the self-interest to lead us all into the post-quantum era.It is no exaggeration to say that none of us will be truly safe, until they are.

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Getting The Big Banks To Confront The Quantum Challenge - Forbes

Want to study Quantum Science? Check out the research and job opportunities, salary, job roles in this field – India Today

Our universe is a strange world of particles and energies, made even more exciting by their entanglement and confused identities. In this world, light sometimes behaves like a particle and other times like a wave and, when stripped to the smallest of entities in the universe down to the constituents of matter itself electrons, protons and other particles appear fuzzy instead of solid.

Quantum science is the study of this peculiar world, of the fascinating behaviour of the smallest particles in nature atoms and subatomic particles - and how to apply this knowledge to our immediate surroundings.

Today, it is also one of the most exciting fields of study, and many people believe that it will revolutionise the world as we know it. In fact, examples of the application of quantum science are all around us, from semiconductors, to MRI and lasers.

First developed as a discipline during the 20th century, quantum science has helped us understand the smallest particles around us, to unravel the mysteries of the universe. Yet, it itself still remains largely unknown and mysterious.

The field of quantum science is undergoing its second revolution. The first revolution was concerned with developing our understanding of quantum physics.

In those nascent days, scientists were splitting the atom to understand the properties of elements. Later they developed quantum effects such as quantised energy and Q-tunneling.

Today we are in the midst of Quantum Science 2.0 which is more concerned with manipulating quantum mechanics and finding new applications, particularly in the areas of communications and computing.

This phase is also characterised by increased industry participation.

Last year, quantum science received a huge fillip in India as the finance minister launched a National Mission on Quantum Technologies and Applications, with an outlay of INR 8,000 crore to be spent over the following five years.

The mission, first announced during Union Budget 2020, intends to put India on the global quantum science map and to counter the aggressive efforts in the field by USA China, and nations in the European Union.

For students, this is an opportune time to enter the field. Most of the developments in the domain are either in mathematics or in computer science connected with extremely-low-temperature physics.

Depending on ones inclination, one can take an experimental route in a physics laboratory that specialises in quantum computing, or in schools that work on the mathematics of computer algorithms.

In India, we are still at a very nascent stage in quantum science, however, with research accelerating recently, there lies much potential in a quantum mechanics career in academic research with leading institutes.

Where can you work? Scientists can also opt to work in countries like the USA, UK, Germany, Netherlands, Switzerland, and France, where most of the research in the field is being conducted today.

Alternatively, they can avail employment opportunities in corporate R&D, with organisations such as Google, Microsoft, and IBM.

Educational eligibility: Whether one works in academic or corporate research, a doctorate is usually the minimum requirement. A quick glance through job listing websites shows that candidates are usually expected to possess a PhD in areas like physics, computation, astronomy, and information science.

Expected salary: Leading companies, such as IBM, can offer annual salaries ranging from INR 1,44,000 to INR 5,57,000. These salaries are expected to rise further as the field continues to develop.

Job roles: Career roles can range from quantum researcher, quantum analyst, to quantum computing principal.

Quantum science is undoubtedly one of the most exciting fields of research. It can be seen as the science of tomorrow, the field where our next big inventions will likely come from.

For students in the field, it is the excitement of working in a revolutionary field that is often the biggest motivator.

They have the chance to understand the smallest of particles, explain the mysteries of the universe, and even change our world as we know it.

- Article by Dr. Mayank Vahia, Dean, School of Mathematical Sciences, SVKMs NMIMS and Dr. Priyabrata Bag, Associate Professor, School of Mathematical Sciences, SVKMs NMIMS

Read: Is it a good idea to pursue research in India?

Read: Can quantum physics be helpful to lead a better life?

Read: India is gearing up to join the quantum computing race

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Want to study Quantum Science? Check out the research and job opportunities, salary, job roles in this field - India Today

Top 10 Trends Influencing Digital Transformation in 2021 – Analytics Insight

The pandemic had hit the world hard and many businesses collapsed. However, the crisis enabled rapid technology adoption and accelerated digital transformation across the industries. Companies started leveraging disruptive technologies to deliver value to customers and enhance business growth and productivity. With consumers largely shifting to online platforms and due to the pandemic-induced restrictions, businesses started building a digital presence to cater to their audience. With technology being integrated everywhere and considering the changing business landscape, digital transformation has a lot to offer this year. Let us look at the top 10 trends that will shape the digital transformation journey of businesses in 2021.

In the current scenario, digital is normal and businesses are striving to manage operations from homes and remote spaces. 5G had already been hailed much during last year and from this year onwards this technology will gain more prominence. 5G network can provide unprecedented speed and connectivity that can cater to the growing demand for increased bandwidth and reliable connectivity. 5G going mainstream will enable better IoT connectivity, enhance user experience and digital collaboration, and accelerate digital transformation.

With rapid technology adoption last year, blockchain has been brought to the limelight. Although it earlier resonated with cryptocurrency, blockchain is now adopted in different industries, especially in financial institutions. Blockchains capabilities are being explored and recently India appointed a panel that is said to focus on the exploration and expansion of blockchain technology in different industries. In the coming years, blockchain will play a crucial role in cybersecurity and will mature with increased adoption in industries.

The pandemic that surfaced last year made cybersecurity more relevant as there were many and continuous attacks on several companies in a short time. Since most of the companies switched to remote working, there arose a need for better and vigilant security measures. Robust cybersecurity practices are one of the top priorities of businesses going through digital transformation and planning to adopt it. The speed of digital transformation must be on par with a companys security strategies and infrastructure.

The finance and banking sector were some of the most impacted industries with rapid digitalization. Most of these services went online and initiated digital payments, digital credit application processes, online loan applications, etc. They are on a move to enhance the digital user experience through efficient digital transformation. Coming years will see a rise in digital banking and open banking initiatives. Digital payments services and digital banking will reshape the transformation in the financial sector.

Data is the fuel in todays customer-centric business models. However, gathering and managing data can be quite difficult without good infrastructure. Customer Data Platforms or CDPs step in here. CDPs collect data from all sources, organize, tag, and make them usable. There is an abundance of data available today and businesses often end up not utilizing them to maximum benefit. Data analytics has also become a potential ingredient to enhance growth and efficiency. Considering these factors, CDPs will empower and revolutionize digital transformation.

While businesses are actively migrating to the cloud, it is imperative to note the growth of a multi-cloud system. It will remove common barriers providers face and also eliminate vendor lock-ins. Multi-cloud and hybrid cloud systems will flourish this year and beyond and will shape the transformation of businesses. Multi-cloud enables the user to distribute cloud computing assets, software, and applications across different cloud platforms. They can also use several public and private cloud infrastructures.

Recently, Google announced that it will develop a commercial-grade error-free quantum computer within a decade. Although quantum computing has not been commercialized fully yet, it has become a vital research subject. Many industries will explore quantum computing in the coming years to enhance digital transformation.

Everything as a Service or XaaS has already gained importance in the business ecosystem. It is a generalized term for cloud service delivery models and it recognizes all the different products and services across the internet. It can simplify technology deployments and as the services will have quick access, it can be widely employed by companies. The XaaS model can enhance agility and help businesses in streamlining digital transformation.

Since the pandemic, offices have been working from home and in remote conditions. Several surveys and studies suggest that this remote work strategy is to stay here for long. Companies have identified the potential benefit of working remotely and this has also led to accelerating digital transformation. There will be more innovations and smart technologies to cater to the needs of the work from home population.

Automation can increase the pace of digital transformation and businesses will largely focus on automating the processes and ERP in years ahead. During the pandemic, several companies had to adopt automation to remain in the market. Thus, automation has become the core of digital transformation. With AI, machine learning, and robotics being integrated into businesses, it will be possible to automate the Enterprise Resource Planning model to enable better growth and agility.

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Top 10 Trends Influencing Digital Transformation in 2021 - Analytics Insight