Category Archives: Quantum Computing
New quantum computing company will set the pace – Cambridge Network
Cambridge Quantum Computing, a quantum computing and algorithm company founded by Ilyas Khan, Leader in Residence and a Fellow in Management Practice at Cambridge Judge Business School, announced it will combine with Honeywell Quantum Solutions, a unit of US-based Honeywell, which has been an investor in Cambridge Quantum since 2019.
Ilyas was also the inaugural Chairman of the Stephen Hawking Foundation, is a fellow commoner of St Edmunds College, and was closely involved in the foundation of the Accelerate Cambridge programme run by the Business Schools Entrepreneurship Centre.
The new company is extremely well-positioned to lead the quantum computing industry by offering advanced, fully integrated hardware and software solutions at an unprecedented pace, scale and level of performance to large high-growth markets worldwide, Cambridge Quantum said in an announcement.
The combination will form the largest, most advanced standalone quantum computing company in the world, setting the pace for what is projected to become a $1 trillion quantum computing industry over the next three decades, Honeywell said in a companion announcement.
The new company, which will be formally named at a later date, will be led by Cambridge Quantum founder Ilyas Khan as Chief Executive with Tony Uttley of Honeywell Quantum Solutions as President. Honeywell Chairman and CEO Darius Adamczyk will serve on the board of directors as the Chairman. Honeywell will have a 54% share of the merged entity, which was dubbed by publication Barrons as the Apple of Quantum Computing, and CQCs shareholders will have a 46% share.
In addition, Honeywell will invest between $270 million to $300 million in the new company. Cambridge Quantum was founded in 2014, and has offices in Cambridge, London and Oxford, and abroad in the US, Germany and Japan.
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New quantum computing company will set the pace - Cambridge Network
Honeywell joins hands with Cambridge Quantum Computing to form a new company – The Hindu
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Multinational conglomerate Honeywell said it will combine with Cambridge Quantum Computing in a bid to form the largest standalone quantum computing company in the world.
According to Honeywell, the merger will be completed in the third quarter of 2021 and will set the pace for what is projected to become a $1 trillion quantum computing industry over the next three decades.
In the yet to be named company, Honeywell will invest between $270 million and $300 million, and will own a major stake. It will also engage in an agreement for manufacturing critical ion traps needed to power quantum hardware.
The new company will be led by Ilyas Khan, the CEO and founder of CQC, a company that focuses on building software for quantum computing. Honeywell Chairman and Chief Executive Officer Darius Adamczyk will serve as chairman of the new company while Tony Uttley, currently the president of HQS, will serve as the new company's president.
"Joining together into an exciting newly combined enterprise, HQS and CQC will become a global powerhouse that will develop and commercialize quantum solutions that address some of humanity's greatest challenges, while driving the development of what will become a $1 trillion industry," Khan said in a statement.
With this new company, both firms plan to use Honeywells hardware expertise and Cambridges software platforms to build the worlds highest-performing computer.
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Honeywell joins hands with Cambridge Quantum Computing to form a new company - The Hindu
NSWCDD Focuses on Quantum Computing with its First-Ever Hackathon – Naval Sea Systems Command
DAHLGREN, Va.
The Innovation Lab at Naval Surface Warfare Center Dahlgren Division (NSWCDD) hosted its first-ever hackathon in partnership with Microsoft June 2-4.
While the term hackathon may conjure up familiar depictions in media of a raucous semi-sporting event where audiences look on as hackers write line by line of code to break into a borderline impenetrable system, the event does not always quite look like that. This hackathon looked a lot like a room full of smart, creative people working together to develop rapid solutions to difficult problems.
Participants in NSWCDDs first hackathon were challenged to utilize Microsofts quantum computing toolkit to generate solutions to assigned problems.
The Navy is at the forefront of quantum [computing] efforts and Microsoft is very excited to collaborate with the Navy and excited to do this hackathon with the Innovation Lab here at Dahlgren, said Microsoft Technology Strategist Dr. Monica DeZulueta. The caliber of people participating here is phenomenal.
The event kicked off with a quantum computing bootcamp led by Microsoft quantum computing professionals. Participants in the hackathon along with approximately 25 more eager quantum students who joined the event via Microsoft Teams were introduced to quantum computing basics and the Q# programming language.
Quantum computing is a fundamentally different mode of computing from what has traditionally been in use. While classical computing relies on bits of 1s and 0s, quantum computing qbits can exist as 1s and 0s simultaneously.
Although still an emerging field of application, quantum computing holds incredible implications for generating answers to previously intractable problems. From logistics solutions such as flight path optimization to more rapid, higher-fidelity modeling and simulation, quantum computing may play a key role in giving the warfighter the technological advantage over adversaries.
The goal of this hackathon is to get the workforce thinking about quantum computing, said Innovation Lab Director Dr. John Rigsby.
Innovation Lab Deputy Director Tamara Stuart added, Were already seeing how quantum communication and quantum sensors are enhancing our technologies and how we are thinking about these applications in the future. Everybody is expecting a quantum computing revolution to come so we are gearing up.
Rigsby and Stuart said an enthusiastic response followed the call for hackathon participants. Each department across NSWCDD sent its best and brightest minds to compete and vie for the first place title in the bases first-ever hackathon.
When the hacking began in earnest on day two of the event, the spirit of the anticipated battle of the departments shifted from competitive to collaborative as rival teams began to combine brainpower to attack the puzzling set of problems created by Microsoft quantum computing professionals.
Each team presented their solutions on the third and final day of the event. Along with the solutions to the problem set, participants were asked by the events judges to consider potential applications for quantum computing in their everyday work.
Following presentations, judges declared a three-way tie between Dahlgrens Electromagnetic and Sensor System Department, Gun and Electric Weapon Systems Department and the Integrated Combat Systems Department.
Chief Technology Officer Jennifer Clift highlighted the importance of events like this hackathon.
The Innovation Lab is a place for our workforce to explore new technologies and solve complex naval challenges. Our goal is to tap into the entrepreneurial spirit of our talented workforce and provide the resources and environment necessary to discover, innovate and deliver cutting edge capabilities to the warfighter. Events like this hackathon allow our scientists and engineers to learn new skills, collaborate to solve complex challenges, and prepare for future naval technology needs, said Clift.
Stefano Coronado, a scientist from the Electromagnetic and Sensor System Department, said the in-person collaboration was exciting.
This hackathon was a great experience for me, said Coronado.
NSWCDDs Innovation Lab leadership said this is the first of many similar events to come with hackathons hopefully occurring multiple times a year. Plans for the warfare centers second hackathon are already in the works.
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NSWCDD Focuses on Quantum Computing with its First-Ever Hackathon - Naval Sea Systems Command
Trinity College teams up with Microsoft on quantum computing programme – The Irish Times
Trinity College Dublin has joined forces with Microsoft Ireland to accelerate the development of next-generation quantum technologies and support future leaders in the field.
Under the agreement, Microsoft will provide funding to support quantum research PhD students in Trinity College, while also establishing a female scholarship programme for the colleges MSc in Quantum Science and Technology.
The collaboration will support quantum research teams in Trinitys School of Physics and foster links with research teams in the private sector.
Having emerged from fundamental science over the last two decades, quantum research is now blossoming and promises to revolutionise technology in the coming years with discoveries and innovations that promise to power a more sustainable, advanced future, said Prof John Goold, who is directing the new MSc in Quantum Science and Technology course.
Microsoft recently announced a full-stack, open-cloud quantum computing ecosystem, named Azure Quantum. Quantum computers can solve in a matter of seconds problems that would take the fastest computers today thousands of years to solve, presenting the opportunity to address climate change, significant pharmaceutical advancements, and so on.
Quantum computing presents unprecedented possibilities to solve societys most complex challenges and help to secure a sustainable future. At Microsoft, were committed to responsibly turning these possibilities into reality for the betterment of humanity and the planet, Cathriona Hallahan, Managing Director, Microsoft Ireland said.
The introduction of the female scholarship programme is a welcome one and I believe more focused mechanisms such as this will help us to attract more females not only into the area of next-generation quantum technologies but also wider STEM related industries.
Prof Goold also praised support for the female-only scholarship programme.
As diversity has grown in my research team at Trinity, we have been more creative in pursuing and delivering high-quality science. Female uptake in certain STEM subjects remains low but initiatives like this are helping to drive positive change he said.
The Minister for Further and Higher Education, Research, Innovation and Science Simon Harris welcomed the collaboration. I am delighted to see this strong collaboration between Trinity College Dublin and Microsoft. Quantum computing technology will be instrumental in solving some of societys biggest challenges and seeing Ireland at the forefront of this research is tremendously important, he said.
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Trinity College teams up with Microsoft on quantum computing programme - The Irish Times
Honeywell Quantum, Cambridge Quantum Computing form joint venture – Reuters
Honeywell International Inc (HON.O) and quantum computer software startup Cambridge Quantum Computing (CQC) on Tuesday announced they will form a joint venture, integrating Honeywells quantum computer unit with the software maker.
Honeywell will invest between $270 million and $300 million in the new company and have 54% of the new venture. CQC and its investors, including International Business Machines Corp (IBM.N) will hold the rest. Honeywell CEO Darius Adamczyk will be the chairman of the board for the new entity, which will be named later.
Honeywell, a technology and manufacturing company, unveiled its quantum computer in late 2019 after many years of development. It invested and partnered with CQC from 2019.
To really accelerate our path into developing full quantum capabilities for quantum solutions, solving customers' problems, we felt this was the shortest, most compelling path, Adamczyk told Reuters.
Researchers believe quantum computers could operate millions of times faster than todays advanced supercomputers, potentially making possible tasks ranging from mapping complex molecular structures and chemical reactions to boosting the power of artificial intelligence.
Ilyas Khan, the CEO and founder of CQC who will be the CEO of the new venture, said CQC has been a founder member of IBMs quantum ecosystem and will continue to work with IBM and other quantum computer makers, even after the joint venture formation.
There are a number of different hardware choices, and we currently are active users of all of the devices in order to fulfill the ... demand side from our clients. So we will always choose the best machine for the job in hand, said Khan.
Quantum computing startups received a record $796 million of venture capital funding globally last year, according to data firm PitchBook.
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Honeywell Quantum, Cambridge Quantum Computing form joint venture - Reuters
With cyberattacks on the rise, organizations are already bracing for devastating quantum hacks – CNBC
Amidst the houses and the car parks sits GCHQ, the Government Communications Headquarters, in this aerial photo taken on October 10, 2005.
David Goddard | Getty Images
LONDON A little-known U.K. company called Arqit is quietly preparing businesses and governments for what it sees as the next big threat to their cyber defenses: quantum computers.
It's still an incredibly young field of research, however some in the tech industry including the likes of Google, Microsoft and IBM believe quantum computing will become a reality in the next decade. And that could be worrying news for organizations' cyber security.
David Williams, co-founder and chairman of Arqit, says quantum computers will be several millions of times faster than classical computers, and would be able to break into one of the most widely-used methods of cryptography.
"The legacy encryption that we all use to keep our secrets safe is called PKI," or public-key infrastructure, Williams told CNBC in an interview. "It was invented in the 70s."
"PKI was originally designed to secure the communications of two computers," Williams added. "It wasn't designed for a hyper-connected world where there are a billion devices all over the world communicating in a complex round of interactions."
Arqit, which is planning to go public via a merger with a blank-check company, counts the likes of BT, Sumitomo Corporation, the British government and the European Space Agency as customers. Some of its team previously worked for GCHQ, the U.K. intelligence agency. The firm only recently came out of "stealth mode" a temporary state of secretness and its stock market listing couldn't be more timely.
The past month has seen a spate of devastating ransomware attacks on organizations from Colonial Pipeline, the largest fuel pipeline in the U.S., to JBS, the world's largest meatpacker.
Microsoft and several U.S. government agencies, meanwhile, were among those affected by an attack on IT firm SolarWinds. President Joe Biden recently signed an executive order aimed at ramping up U.S. cyber defenses.
Quantum computing aims to apply the principles of quantum physics a body of science that seeks to describe the world at the level of atoms and subatomic particles to computers.
Whereas today's computers use ones and zeroes to store information, a quantum computer relies on quantum bits, or qubits, which can consist of a combination of ones and zeroes simultaneously, something that's known in the field as superposition. These qubits can also be linked together through a phenomenon called entanglement.
Put simply, it means quantum computers are far more powerful than today's machines and are able to solve complex calculations much faster.
Kasper Rasmussen, associate professor of computer science at the University of Oxford, told CNBC that quantum computers are designed to do "certain very specific operations much faster than classical computers."
That it is not to say they'll be able to solve every task. "This is not a case of: 'This is a quantum computer, so it just runs whatever application you put on there much faster.' That's not the idea," Rasmussen said.
This could be a problem for modern encryption standards, according to experts.
"When you and I use PKI encryption, we do halves of a difficult math problem: prime factorisation," Williams told CNBC. "You give me a number and I work out what are the prime numbers to work out the new number. A classic computer can't break that but a quantum computer will."
Williams believes his company has found the solution. Instead of relying on public-key cryptography, Arqit sends out symmetric encryption keys long, random numbers via satellites, something it calls "quantum key distribution." Virgin Orbit, which invested in Arqit as part of its SPAC deal, plans to launch the satellites from Cornwall, England, by 2023.
Some experts say it will take some time before quantum computers finally arrive in a way that could pose a threat to existing cyber defenses. Rasmussen doesn't expect them to exist in any meaningful way for at least another 10 years. But he's not complacent.
"If we accept the fact that quantum computers will exist in 10 years, anyone with the foresight to record important conversations now might be in a position to decrypt them when quantum computers come about," Rasmussen said.
"Public-key cryptography is literally everywhere in our digitized world, from your bank card, to the way you connect to the internet, to your car key, to IOT (internet of things) devices," Ali Kaafarani, CEO and founder of cybersecurity start-up PQShield, told CNBC.
The U.S. Commerce Department's National Institute of Standards and Technology is looking to update its standards on cryptography to include what's known as post-quantum cryptography, algorithms that could be secure against an attack from a quantum computer.
Kaafarani expects NIST will decide on new standards by the end of 2021. But, he warns: "For me, the challenge is not the quantum threat and how can we build encryption methods that are secure. We solved that."
"The challenge now is how businesses need to prepare for the transition to the new standards," Kaafarani said. "Lessons from the past prove that it's too slow and takes years and decades to switch from one algorithm to another."
Williams thinks firms need to be ready now, adding that forming post-quantum algorithms that take public-key cryptography and make it "even more complex" are not the solution. He alluded to a report from NIST which noted challenges with post-quantum cryptographic solutions.
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With cyberattacks on the rise, organizations are already bracing for devastating quantum hacks - CNBC
The ‘second quantum revolution’ is almost here. We need to make sure it benefits the many, not the few – The Conversation AU
Over the past six years, quantum science has noticeably shifted, from the domain of physicists concerned with learning about the universe on extremely small scales, to a source of new technologies we all might use for practical purposes. These technologies make use of quantum properties of single atoms or particles of light. They include sensors, communication networks, and computers.
Quantum technologies are expected to impact many aspects of our society, including health care, financial services, defence, weather modelling, and cyber security. Clearly, they promise exciting benefits. Yet the history of technology development shows we cannot simply assume new tools and systems will automatically be in the public interest.
We must look ahead to what a quantum society might entail and how the quantum design choices made today might impact how we live in the near future. The deployment of artificial intelligence and machine learning over the past few years provides a compelling example of why this is necessary.
Lets consider an example. Quantum computers are perhaps the best-known quantum technology, with companies like Google and IBM competing to achieve quantum computation. The advantage of quantum computers lies in their ability to tackle incredibly complex tasks that would take a normal computer millions of years. One such task is simulating molecules behaviour to improve predictions about the properties of prospective new drugs and accelerate their development.
One conundrum posed by quantum computing is the sheer expense of investing in the physical infrastructure of the technology. This means ownership will likely be concentrated among the wealthiest countries and corporations. In turn, this could worsen uneven power distribution enabled by technology.
Other considerations for this particular type of quantum technology include concerns about reduced online privacy.
How do we stop ourselves blundering into a quantum age without due forethought? How do we tackle the societal problems posed by quantum technologies, while nations and companies race to develop them?
Last year, CSIRO released a roadmap that included a call for quantum stakeholders to explore and address social risks. An example of how we might proceed with this has begun at the World Economic Forum (WEF). The WEF is convening experts from industry, policy-making, and research to promote safe and secure quantum technologies by establishing an agreed set of ethical principles for quantum computing.
Australia should draw on such initiatives to ensure the quantum technologies we develop work for the public good. We need to diversify the people involved in quantum technologies in terms of the types of expertise employed and the social contexts we work from so we dont reproduce and amplify existing problems or create new ones.
Read more: Scientists want to build trust in science and technology. The alternative is too risky to contemplate
While we work to shape the impacts of individual quantum technologies, we should also review the language used to describe this second quantum revolution.
The rationale most commonly used to advocate for the field narrowly imagines public benefit of quantum technologies in terms of economic gain and competition between nations and corporations. But framing this as a race to develop quantum technologies means prioritising urgency, commercial interests and national security at the expense of more civic-minded concerns.
Its still early enough to do something about the challenges posed by quantum technologies. Its also not all doom and gloom, with a variety of initiatives and national research and development policies setting out to tackle these problems before they are set in stone.
We need discussions involving a cross-section of society on the potential impacts of quantum technologies on society. This process should clarify societal expectations for the emerging quantum technology sector and inform any national quantum initiative in Australia.
Read more: Why are scientists so excited about a recently claimed quantum computing milestone?
Swedish university is behind quantum computing breakthrough – ComputerWeekly.com
Swedens Chalmers University of Technology has achieved a quantum computing efficiency breakthrough through a novel type of thermometer that is capable of simplifying and rapidly measuring temperatures during quantum calculations.
The discovery adds a more advanced benchmarking tool that will accelerate Chalmers work in quantum computing development.
The novel thermometer is the latest innovation to emerge from the universitys research to develop an advanced quantum computer. The so-called OpenSuperQ project at Chalmers is coordinated with technology research organisation the Wallenberg Centre for Quantum Technology (WACQT), which is the OpenSuperQ projects main technology partner.
WACQT has set the goal of building a quantum computer capable of performing precise calculations by 2030. The technical requirements behind this ambitious target are based on superconducting circuits and developing aquantum computer with at least 100 well-functioning qubits. To realise this ambition, the OpenSuperQ project will require a processor working temperature close to absolute zero, ideally as low as 10 millikelvin (-273.14 C).
Headquartered at Chalmers Universitys research hub in Gothenburg, the OpenSuperQ project, launched in 2018, is intended to run until 2027. Working alongside the university in Gothenburg, WACQT is also operating support projects being run at the Royal Institute of Technology (Kungliga Tekniska Hgskolan) in Stockholm and collaborating universities in Lund, Stockholm, Linkping and Gothenburg.
Pledged capital funding for the WACQT-managed OpenSuperQ project which has been committed by the Knut and Alice Wallenberg Foundation together with 20 other private corporations in Sweden, currently amounts to SEK1.3bn (128m). In March, the foundation scaled up its funding commitment to WACQT, doubling its annual budget to SEK80m over the next four years.
The increased funding by the foundation will lead to the expansion of WACQTs QC research team, and the organisation is looking to recruit a further 40 researchers for the OpenSuperQ project in 2021-2022. A new team is to be established to study nanophotonic devices, which can enable the interconnection of several smaller quantum processors into a large quantum computer.
The Wallenberg sphere incorporates 16 public and private foundations operated by various family members. Each year, these foundations allocate about SEK2.5bn to research projects in the fields of technology, natural sciences and medicine in Sweden.
The OpenSuperQ project aims to take Sweden to the forefront of quantum technologies, including computing, sensing, communications and simulation, said Peter Wallenberg, chairman of the Knut and Alice Wallenberg Foundation.
Quantum technology has enormous potential, so it is vital that Sweden has the necessary expertise in this area. WACQT has built up a qualified research environment and established collaborations with Swedish industry. It has succeeded in developing qubits with proven problem-solving ability. We can move ahead with great confidence in what WACQT will go on to achieve.
The novel thermometer breakthrough opens the door to experiments in the dynamic field of quantum thermodynamics, said Simone Gasparinetti, assistant professor at Chalmers quantum technology laboratory.
Our thermometer is a superconducting circuit and directly connected to the end of the waveguide being measured, said Gasparinetti. It is relatively simple and probably the worlds fastest and most sensitive thermometer for this particular purpose at the millikelvin scale.
Coaxial cables and waveguides the structures that guide waveforms and serve as the critical connection to the quantum processor remain key components in quantum computers. The microwave pulses that travel down the waveguides to the quantum processor are cooled to extremely low temperatures along the way.
For researchers, a fundamental goal is to ensure that these waveguides are not carrying noise due to the thermal motion of electrons on top of the pulses that they send. Precise temperature measurement readings of the electromagnetic fields are needed at the cold end of the microwave waveguides, the point where the controlling pulses are delivered to the computers qubits.
Working at the lowest possible temperature minimises the risk of introducing errors in the qubits. Until now, researchers have only been able to measure this temperature indirectly, and with relatively long delays. Chalmers Universitys novel thermometer enables very low temperatures to be measured directly at the receiving end of the waveguide with elevated accuracy and with extremely high time resolution.
The novel thermometer developed at the university provides researchers with a value-added tool to measure the efficiency of systems while identifying possible shortcomings, said Per Delsing, a professor at the department of microtechnology and nanoscience at Chalmers and director of WACQT.
A certain temperature corresponds to a given number of thermal photons, and that number decreases exponentially with temperature, he said. If we succeed in lowering the temperature at the end where the waveguide meets the qubit to 10 millikelvin, the risk of errors in our qubits is reduced drastically.
The universitys primary role in the OpenSuperQ project is to lead the work on developing the application algorithms that will be executed on the OpenSuperQ quantum computer. It will also support the development of algorithms for quantum chemistry, optimisation and machine learning.
Also, Chalmers will head up efforts to improve quantum coherence in chips with multiple coupled qubits, including device design, process development, fabrication, packaging and testing. It will also conduct research to evaluate the performance of 2-qubit gates and develop advanced qubit control methods to mitigate systematic and incoherent errors to achieve targeted gate fidelities.
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Swedish university is behind quantum computing breakthrough - ComputerWeekly.com
Global Quantum Computing Market to Gain $667.3 Million and Surge at a CAGR of 30.0% from 2020-2027 Timeframe – Exclusive [193 pages] COVID-19 Impact…
The global quantum computing industry is projected to surge from 2020 to 2027 due to the rise in the number of cyber-attacks across the world. Consulting solutions sub-segment is estimated to be the most profitable. The European market is estimated to be the most dominating during the forecasted period.
New York, USA, June 07, 2021 (GLOBE NEWSWIRE) -- According to a recent report studied by Research Dive, the global quantum computing market is speculated to exceed $667.3 million by the end of 2027, rising from a market size of $88.2 million in 2019, at a growth rate of 30.0% during 2020-2027 estimated timeframe. The report highlights the coronavirus mayhem impact on the market, major drivers, hindrances, and regional outlook of the market. The research methodology used in the report is a combination of both primary and secondary research methods.
Download FREE Sample Report of the Global Quantum Computing Market: https://www.researchdive.com/download-sample/8332
Covid-19 Outbreak Impact on the Global Market
The quantum computing market is anticipated to experience a positive impact globally during the coronavirus crises. The reason for market growth is that quantum technology offers augmented performance computing that can shift dynamics for quantum chemistry. Further, quantum technology provides exponential speed for amplified optimization and vital calculations. These facets are predicted to govern the market growth during the coronavirus emergency.
Check out How COVID-19 impacts the Global Quantum Computing Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/8332
Aspects Impacting the Market
The global quantum computing market is projected to witness progressive growth due to rise in the cyber-attack cases. Quantum technology assures security to software systems and applications and protects vital data of organizations from attacks such as ransomware, phishing, worms, and much more. Furthermore, key companies of the market are planning strategic frameworks by utilizing quantum personal computers for cyber-security. These aspects are anticipated to surge the market growth during the forecasted timeframe. However, a lack of awareness of quantum technology and unskilled employees is expected to hinder the market growth. On the other hand, the ability of quantum technology to aid farmers in augmenting the yield and efficiency of plants is projected to create promising opportunities for the market growth.
Story continues
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Consulting Solutions Sub-Segment to be the Most Profitable
From the offerings type segment, the consulting solutions sub-segment is anticipated to reach newer heights during the timeframe. The sub-segment is expected to register a revenue of $354.0 million by the end of the 2027 timeframe. The sub-segment upsurge is due to the usage of quantum computing in applications such as drug discovery, formulation of chemicals, material science, and automotive. Apart from this, it is also used in the chemical industry, aerospace & defense, healthcare, and energy & power sectors. These wide-scale applications are speculated to bolster the growth of the sub-segment during the forecasted years.
Check out all Information and communication technology & media Industry Reports: https://www.researchdive.com/information-and-communication-technology-and-media
Machine Learning Sub-Segment to Gain Maximum Revenue
From the application segment, the machine learning sub-segment is projected to achieve maximum revenue during the forecasted timeframe. The sub-segment is anticipated to cross $236.9 million by the end of 2027, rising from a market share of $29.7 million in the year 2019. The ability of quantum learning to accelerate machine learning such as optimization, deep learning, Kernel evaluation, and linear algebra is expected to propel the sub-segment market growth during the analyzed timeframe.
Finance & Banking Sub-Segment to Witness Rapid Growth
From the end-user segment, the finance & banking sub-division is speculated to grow rapidly and register a revenue of $159.2 million by 2027. The sub-segment growth is due to the usage of quantum technology in banking for supporting the large-frequency trading aspect.
Regional Outlook
The European market was expected to hold a market size of $28.2 million in 2019 and is speculated to garner a revenue of $221.2 million by the end of 2027. The market growth is mainly attributed to the extensive use of quantum computing in fields such as chemicals, healthcare, pharmaceuticals, and utilities. Moreover, its usage in cryptography, novel drugs, defense, and cybersecurity is predicted to drive the global market during the estimated timeframe.
Major Key Players
QC Ware, Corp. Cambridge Quantum Computing Limited D-Wave Systems Inc., International Business Machines Corporation Rigetti Computing 1QB Information Technologies River Lane Research StationQ Microsoft Anyon Google Inc.
These leading players are planning varied strategies such as acquisitions of companies, product developments, tie-ups & collaborations for maximizing profits, research & development, and organizational development to gain an upper edge in the market worldwide. For example, in April 2021, Nvidia, a computer systems design services company, revealed cuQuantum SDK. This product is a developmental platform for revitalizing quantum circuits on GPU-accelerated systems.
The report consists of various facets of all the vital players that are operative in the market such as financial performance, product portfolio, present strategic moves, major developments and SWOT. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
TRENDING REPORTS WITH COVID-19 IMPACT ANALYSIS
Advanced Persistent Threat (APT) Protection Market https://www.researchdive.com/8335/advanced-persistent-threat-apt-protection-market
Network Slicing Market https://www.researchdive.com/5670/network-slicing-market
Signal Intelligence (SIGINT) Market https://www.researchdive.com/5478/signals-intelligence-sigint-market
Application Security Market https://www.researchdive.com/5735/application-security-market
UK govt and IBM together to build 210M AI & quantum computing centre in Daresbury – UKTN (UK Technology News
Modern-day complex problems require power-packed technological solutions to revamp industrial growth. UK government is stepping into helping industries get maximum access to the latest technology and modernising by establishing an AI and quantum computing centre in Daresbury, Cheshire.
The government will invest 172m over five years through UK Research and Innovation (UKRI) with a further investment of 38m from computing giant IBM. The centre is now aimed at developing next-generation computers using AI and quantum computing technologies to help out the businesses future-ready.
The Centre will be operated through collaboration between IBM and the Science and Technology Facilities Council (STFC). The Hartree National Centre for Digital Innovation (HNCDI) programme will create 60 new job and exciting opportunities for students to witness complex problem solving through technology application.
Further, the centre will support AI & Quantum Computing application to tasks such as optimising complex logistics, power grid distribution, designing and manufacturing, traffic management, warehouse management and product innovation.
HNCDI will work with different sectors, including materials, life sciences, environment and manufacturing. It will also engage in collaboration with academic and industrial research communities, startups as well as small and medium-sized enterprises (SMEs).
Ms Solloway, the science minister said quantum computing and AI were not just far-fetched ideas, but real technologies that are already transforming our lives. Artificial intelligence and quantum computing have the potential to revolutionise everything from the way we travel to the way we shop. The building blocks of everyday products like your laptop or your phone are already products of quantum technology, harnessing the unique ways that light and matter behave at tiny atomic or subatomic levels.
Further, she added, This fantastic new partnership with IBM will not only help businesses get ready for the future of computing but create 60 jobs in the region boosting innovation and growing the economy as we build back better from the pandemic.
A spokesman for the Department for Business, Energy and Industrial Strategy said the centres aim was to make cutting-edge technologies like AI and quantum computing more accessible to businesses and public sector organisations.
As well as breaking down practical barriers to using new technologies, the team of experts will also provide training and support to make sure the UK is at the forefront of the next generation of computing, he added.
Prof Mark Thomson, STFCs executive chairman said that by allowing industry to access a ready-made community of digital experts and cutting-edge technology, it will provide momentum for new ideas and solutions.
This programme has the potential to transform the way UK industry engages with AI and digital technologies, to the benefit of not just research communities but all of society.
Senior VP and Director of IBM Research, Mr Dario Gil said that This partnership establishes our first Discovery Accelerator in Europe driven by our two UK-based IBM Research locations in Hursley and Daresbury as they contribute to our global mission of building discovery-driven communities around the world.