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How Quantum Computing Will Shape the Future of Finance – CityLife

Quantum Computings Impact on Financial Risk Management and Portfolio Optimization

Quantum computing, a technology that has long been the subject of science fiction and academic research, is now on the verge of becoming a reality. This revolutionary approach to computing harnesses the principles of quantum mechanics to perform calculations at speeds that are orders of magnitude faster than traditional computers. As a result, quantum computing has the potential to reshape the future of finance, particularly in the areas of financial risk management and portfolio optimization.

Financial risk management is a critical function in the world of finance, as it helps institutions identify, assess, and mitigate potential losses from market fluctuations, credit defaults, and other unforeseen events. Traditional risk management techniques rely on complex mathematical models and large-scale simulations to forecast potential losses and determine the optimal strategies for mitigating them. However, these methods can be computationally intensive and time-consuming, especially when dealing with large portfolios and high levels of uncertainty.

Quantum computing offers a potential solution to these challenges by enabling financial institutions to perform complex calculations and simulations much more quickly and efficiently than traditional computers. For example, quantum algorithms such as Grovers and Shors have been shown to significantly speed up the process of searching through large databases and factoring large numbers, respectively. These capabilities could be particularly useful in the context of financial risk management, as they would allow institutions to more quickly identify potential risks and develop strategies to mitigate them.

In addition to improving the speed and efficiency of risk management calculations, quantum computing could also lead to more accurate and robust models for predicting financial risks. This is because quantum computers can process and analyze vast amounts of data simultaneously, which could enable them to identify subtle patterns and correlations that might be missed by traditional computers. By incorporating these insights into their risk models, financial institutions could potentially develop more accurate forecasts of potential losses and better strategies for mitigating them.

Another area where quantum computing could have a significant impact is portfolio optimization, which involves selecting the optimal mix of assets to maximize returns while minimizing risk. Traditional portfolio optimization techniques, such as mean-variance optimization and the Black-Litterman model, rely on historical data and statistical assumptions to estimate the expected returns and risks of different assets. However, these methods can be limited by their reliance on historical data, which may not accurately reflect future market conditions, and their inability to account for complex, nonlinear relationships between assets.

Quantum computing could potentially address these limitations by enabling portfolio managers to process and analyze large amounts of data more quickly and efficiently than traditional computers. This could allow them to develop more accurate and dynamic models of asset returns and risks, which could in turn lead to more effective portfolio optimization strategies. Moreover, quantum computing could also enable portfolio managers to explore a wider range of potential investment strategies, as they would be able to evaluate the performance of these strategies more quickly and accurately than traditional computers.

In conclusion, quantum computing has the potential to significantly reshape the future of finance, particularly in the areas of financial risk management and portfolio optimization. By enabling financial institutions to perform complex calculations and simulations more quickly and efficiently than traditional computers, quantum computing could lead to more accurate and robust risk models, as well as more effective portfolio optimization strategies. However, it is important to note that the full potential of quantum computing in finance has yet to be realized, as the technology is still in its early stages of development. As quantum computers become more powerful and accessible, it will be fascinating to see how they transform the world of finance and unlock new opportunities for growth and innovation.

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Supercomputers: Tackling the Power Problem in High-Performance … – EnergyPortal.eu

Supercomputers have long been at the forefront of technological advancements, enabling researchers to tackle complex problems and simulate processes that would be impossible to study in real-world conditions. These high-performance computing (HPC) systems have been instrumental in advancing fields such as climate modeling, drug discovery, and astrophysics. However, as the demand for more powerful supercomputers continues to grow, so does the need for a more energy-efficient solution to power these behemoths.

Traditionally, supercomputers have relied on thousands of processors working in parallel to perform complex calculations at breakneck speeds. While this approach has yielded impressive results, it has also led to a significant increase in power consumption. As a result, researchers and engineers have been exploring alternative computing paradigms that could potentially offer both increased performance and reduced energy requirements.

One such promising technology is quantum computing, which leverages the principles of quantum mechanics to perform calculations that would be impossible for classical computers. Unlike traditional computing, which relies on bits that can be either a 0 or a 1, quantum computing uses qubits, which can exist in multiple states simultaneously. This allows quantum computers to perform multiple calculations at once, potentially leading to exponential speedups in certain problem-solving tasks.

The potential applications of quantum computing in the realm of high-performance computing are vast. For example, quantum computers could be used to simulate the behavior of molecules and materials at the quantum level, leading to breakthroughs in materials science and drug discovery. Additionally, quantum computers could be used to optimize complex systems, such as transportation networks and supply chains, leading to increased efficiency and reduced costs.

Despite the potential benefits of quantum computing, there are still significant challenges that must be overcome before this technology can be widely adopted in the HPC space. One of the primary obstacles is the development of error-correcting techniques that can mitigate the inherent instability of qubits. Additionally, researchers must find ways to scale up the number of qubits in a quantum computer, as current prototypes typically have only a few dozen qubits.

Another challenge facing the adoption of quantum computing in the HPC space is the development of suitable software and algorithms. While some progress has been made in this area, there is still much work to be done in order to fully harness the power of quantum computing. This includes the development of new programming languages and tools that can effectively leverage the unique capabilities of quantum computers.

Despite these challenges, there is a growing consensus among researchers and industry leaders that quantum computing represents the future of high-performance computing. As a result, significant investments are being made in the development of this technology, both by governments and private companies. For example, the United States recently announced a $1 billion initiative to support research in quantum computing and artificial intelligence, while companies such as IBM, Google, and Intel are actively working on developing their own quantum computing platforms.

In conclusion, the quest for more powerful and energy-efficient supercomputers has led researchers to explore the potential of quantum computing as a viable alternative to traditional high-performance computing paradigms. While there are still significant challenges to be overcome, the potential benefits of quantum computing in terms of performance and energy efficiency make it an attractive option for the future of supercomputing. As research and development in this area continue to progress, it is likely that we will see quantum computing play an increasingly important role in tackling the power problem in high-performance computing.

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US Congress to consider two new bills on artificial intelligence – Economic Times

US senators on Thursday introduced two separate bipartisan artificial intelligence bills on Thursday amid growing interest in addressing issues surrounding the technology. One would require the US government to be transparent when using AI to interact with people and another would establish an office to determine if the United States is remaining competitive in the latest technologies.

Lawmakers are beginning to consider what new rules might be needed because of the rise of AI. The technology made headlines earlier this year when ChatGPT, an AI program that can answer questions in written form, became generally available.

"The federal government needs to be proactive and transparent with AI utilization and ensure that decisions aren't being made without humans in the driver's seat," said Braun in a statement.

"We cannot afford to lose our competitive edge in strategic technologies like semiconductors, quantum computing, and artificial intelligence to competitors like China," Bennet said.

The briefings include a general overview on AI, examining how to achieve American leadership on AI and a classified session on defense and intelligence issues and implications.

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AI 101: 10 artificial intelligence terms to keep up with this new-age … – YourStory

Over the last few months, artificial intelligence (AI) has dominated headlines everywhere. And now, it looks like this new-age technology has taken over big tech companies, enterprises, startups, schools, and life itself. From music, art, and films to homework, news, and more, AI is the next big thing.

Suffice it to say, it is important to keep up with why AI is this interesting, what it is made up of, and why exactly it is a big deal.

In this article, we will navigate the vast landscape of artificial intelligence terminology across machine learning (ML), natural language processing (NLP), deep learning, quantum computing, and a lot more.

While numerous scientists and engineers laid the groundwork for AI since the 1940s, American Computer scientist John McCarthy coined the term Artificial Intelligence in 1955. A year later, he, along with other scientists, held the first AI conference at Dartmouth University.

In the 1980s, there was a shift towards neural networks and machine learning approaches. Researchers explored algorithms inspired by the structure and functioning of the human brain, enabling machines to learn from data and improve their performance over time.

The late 1980s and early 1990s witnessed a period known as the "AI Winter" when interest and funding significantly declined in this area due to unmet expectations. However, the field experienced a resurgence in the late 1990s with advancements in areas such as data mining, natural language processing, and computer vision.

In recent years, the availability of vast amounts of data and advancements in computational power have fuelled breakthroughs in AI. Deep learning, a subfield of machine learning that utilises neural networks with multiple layers, has led to significant advancements in image and speech recognition, natural language processing, and other AI applications.

An algorithm is a definite set of instructions that allow a computer to perform a certain task. AI algorithms help a computer understand how to perform certain tasks and achieve the desired results on its own. In other words, algorithms set the process for decision-making.

Machine learning is a subset of AI. It effectively enables machines to learn using algorithms, data and statistical models to make better decisions. While AI is a broad term that refers to the ability of computers to mimic human thought and behaviours, ML is an application of AI used to train computers to do specific tasks using data and pattern recognition.

A subset of ML, deep learning trains computers to do what humans canlearn by example. Computer models can be taught to perform tasks by recognising patterns in images, text, or sound, sometimes surpassing humans in their ability to make connections. Computer scientists leverage large sets of data and neural network architectures to teach computers to perform these tasks.

DL is employed in cutting-edge technology like driverless cars to process a stop sign or differentiate between a human and a lamp post.

Yet another application of ML, natural language processing helps machines understand, interpret, and process human language to perform routine tasks. It uses rules of linguistics, statistics, ML, and DL to equip computers to fully understand what a human is communicating through text or audio and perform relevant tasks. AI virtual assistants and AI voice recognition systems like voice-operated GPS are examples of NLP.

Computer vision is a form of AI that trains computers to recognise visual input. For instance, a machine will be able to analyse and interpret images, videos and other visual objects to perform certain tasks that are expected of it.

An example is medical professionals using this technology to scan MRIs, X-rays or ultrasounds to detect health problems in humans.

Robotics is a branch of engineering, computer science, and AI that designs machines to perform human-like tasks without human intervention. These robots can be used to perform a wide variety of tasks that are either too complex and difficult for humans or are repetitive or both. For example, building a robotic arm to assemble cars in an assembly line is an example of a robot.

Data science uses large sets of structured and unstructured data to generate insights that data scientists and others can use to make informed decisions. Often, data science employs ML practices to find solutions to different challenges and solve real-world problems.

For instance, financial institutions may employ data science to analyse a customers financial situation and bill-paying history to make better decisions on lending.

An extension of data science is data mining. It involves extracting useful and pertinent information from a large data set and providing valuable insights. It is also known as knowledge discovery in data (KDD). Data mining has numerous applications, including in sales and marketing, education, fraud detection, and improving operational efficiency.

Quantum computing uses theories of quantum physics to solve complex problems that classic computing cannot solve. It is used to run complex simulations in a matter of seconds by converting real-time language into quantum language.

Google has a quantum computer that they claim is 100 million times faster than an average computer. Quantum computing can be used in a variety of fields ranging from cybersecurity to pharmaceuticals to solve big problems with fewer resources.

A chatbot employs AI and NLP to simulate human conversations. It can operate through text or voice conversations. Chatbots use AI to analyse millions of conversations, learn from human responses and mimic them to provide human-like responses. This tech has found great usage in customer service and as AI virtual assistants.

All AI and ML tools are human-trained. This means that any inherent human bias can reflect AI bias. AI bias is a term that refers to the tendency of machines to adopt human biases because of how and by whom they are coded or trained. Algorithms can often reinforce human biases.

For instance, a facial recognition platform may be able to recognise Caucasian people better than people of colour because of the data set it has been fed. It is possible to reduce AI bias through more testing in real-life circumstances, accounting for these biases and improving how humans operating these systems are educated.

Today, AI represents the human capacity to create, innovate, and push the boundaries of what was once thought impossible.

So, whether you are an AI enthusiast, a curious learner, or a decision-maker shaping the future, it is essential to equip yourself with the right knowledge to survive in a world that is being increasingly powered by AI and its tools.

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Quantum Computing: A New Era of Smart Cities and Infrastructure – CityLife

Quantum Computing: A New Era of Smart Cities and Infrastructure

Quantum computing, a groundbreaking technology that has the potential to revolutionize various industries, is now poised to transform the way we build and manage smart cities and infrastructure. This cutting-edge innovation, which leverages the principles of quantum mechanics to perform complex calculations at speeds previously unimaginable, promises to enhance the efficiency, sustainability, and resilience of urban environments.

As the worlds population continues to grow and urbanize, the need for smart cities and infrastructure has become increasingly urgent. These interconnected, data-driven systems are designed to optimize the use of resources, reduce environmental impact, and improve the quality of life for residents. However, the sheer volume of data generated by smart cities, coupled with the complexity of the challenges they face, has pushed the limits of classical computing.

Enter quantum computing, a technology that has the potential to tackle problems that are currently intractable for classical computers. Unlike classical computers, which use bits to represent information as either 0s or 1s, quantum computers use quantum bits, or qubits, which can represent both 0 and 1 simultaneously. This allows quantum computers to perform multiple calculations at once, enabling them to solve complex problems exponentially faster than their classical counterparts.

One of the most promising applications of quantum computing in the realm of smart cities and infrastructure is traffic management. With the ability to process vast amounts of data in real-time, quantum computers could optimize traffic flow, reducing congestion and emissions while improving overall transportation efficiency. For example, by analyzing data from traffic sensors, GPS devices, and other sources, quantum computers could predict and prevent traffic jams, dynamically adjust traffic signals, and even recommend alternative routes to drivers.

Another area where quantum computing could have a significant impact is energy management. As the demand for clean, renewable energy sources grows, so too does the need for efficient energy distribution and storage systems. Quantum computers could help optimize the energy grid by analyzing and predicting fluctuations in supply and demand, allowing for more efficient allocation of resources and reducing waste. Moreover, quantum computing could also play a role in the development of new materials for energy storage, such as advanced batteries, by simulating their properties at the atomic level.

In addition to traffic and energy management, quantum computing could also revolutionize the way we design and maintain infrastructure. For instance, by simulating the behavior of materials and structures under various conditions, quantum computers could help engineers develop more resilient and sustainable buildings, bridges, and other infrastructure elements. Furthermore, quantum computing could enable more effective monitoring and maintenance of infrastructure by analyzing sensor data to detect potential issues before they become critical.

Of course, the widespread adoption of quantum computing in smart cities and infrastructure is not without its challenges. One of the primary obstacles is the development of scalable, reliable quantum computers, which are still in their infancy. Additionally, integrating quantum computing into existing systems and ensuring data security will be crucial to its success.

Despite these challenges, the potential benefits of quantum computing for smart cities and infrastructure are too significant to ignore. As the technology continues to advance, it is likely that we will see quantum computing play an increasingly important role in the development and management of urban environments. By harnessing the power of quantum computing, we can build smarter, more sustainable cities that are better equipped to meet the challenges of the 21st century and beyond.

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The Role of Neuromorphic Computing in the Future of Quantum … – CityLife

Exploring the Synergy between Neuromorphic Computing and Quantum Computing for Advanced AI Applications

The rapid advancements in artificial intelligence (AI) and machine learning (ML) have created a significant demand for powerful computing systems that can handle the massive amounts of data and complex algorithms involved in these fields. Traditional computing architectures, such as those based on the von Neumann model, are reaching their limits in terms of energy efficiency and processing capabilities. This has led researchers to explore alternative computing paradigms, such as neuromorphic computing and quantum computing, which hold the potential to revolutionize the way we process and analyze information.

Neuromorphic computing is a novel approach that aims to mimic the structure and function of the human brain in order to create more efficient and adaptive computing systems. It is based on the idea of using artificial neural networks, which are composed of interconnected artificial neurons, to process and store information. These networks can be implemented in hardware, using specialized electronic components, or in software, running on conventional computing platforms. Neuromorphic systems are designed to be highly parallel, fault-tolerant, and energy-efficient, making them well-suited for AI and ML applications.

Quantum computing, on the other hand, is a fundamentally different approach that relies on the principles of quantum mechanics to perform computations. Unlike classical computers, which use bits to represent information as either 0 or 1, quantum computers use quantum bits, or qubits, which can exist in multiple states simultaneously due to a phenomenon known as superposition. This allows quantum computers to perform certain types of calculations much faster than classical computers, potentially enabling them to solve problems that are currently intractable.

The synergy between neuromorphic computing and quantum computing is an exciting area of research that could lead to the development of advanced AI applications that were previously thought to be impossible. By combining the strengths of both paradigms, researchers hope to create hybrid systems that can tackle complex problems in areas such as natural language processing, pattern recognition, and decision-making.

One of the key challenges in developing such hybrid systems is finding ways to integrate neuromorphic and quantum components in a seamless and efficient manner. Researchers are exploring various techniques to achieve this, such as using quantum-inspired algorithms to train neuromorphic networks, or employing neuromorphic hardware to control and read out the states of qubits in a quantum processor.

Another important aspect of this research is the development of new materials and fabrication techniques that can support the implementation of neuromorphic and quantum devices. For example, researchers are investigating the use of superconducting materials, which can carry electrical currents without resistance, to create energy-efficient neuromorphic circuits and qubits. They are also exploring the potential of nanoscale structures, such as quantum dots and nanowires, to enable the miniaturization and integration of these devices.

As the field of neuromorphic-quantum computing continues to evolve, it is expected to have a profound impact on the future of AI and ML. By harnessing the power of both neuromorphic and quantum computing, researchers aim to develop systems that can learn and adapt in real-time, allowing them to handle complex tasks with greater speed and accuracy than ever before. This could lead to breakthroughs in areas such as robotics, autonomous vehicles, and personalized medicine, among others.

In conclusion, the synergy between neuromorphic computing and quantum computing holds great promise for the future of AI and ML applications. By exploring the potential of these two emerging paradigms, researchers are paving the way for the development of advanced computing systems that can tackle some of the most challenging problems in science and technology. As we continue to push the boundaries of what is possible with AI and ML, the integration of neuromorphic and quantum computing will undoubtedly play a crucial role in shaping the future of these fields.

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10-year-old becomes first PH female chess National Master – The Manila Times

(UPDATE) FOR the first time in Philippine chess history, the title of National Master was given to a female player.

Grandmaster Jayson Gonzales, chief executive officer of the National Chess Federation of the Philippines, confirmed in a social media post on Saturday that the NCFP has bestowed the title of National Master on 10-year-old Nika Juris Nicolas of Pasig City.

The title is usually conferred on male players who compete in open tournaments dominated by males.

Its female counterpart, the Woman National Master title, is given to female chess players who dominate the distaff side of the competition.

Nicolas, however, competes in the boys and open divisions and, more often than not, prevails.

She was the only female who competed in the under-11 boys division when she topped the national eliminations for the 2023 NCFP National Youth and Schools Chess Championships held in Himamaylan City, Negros Occidental from March 24 to 27.

At the grand finals of the same event for boys held in Dapitan City, Zamboanga del Norte from June 2 to 9, Nicolas was the only player in her division to win medals in all three events: a silver in standard chess, a silver in blitz and a bronze in rapid.

Because of her success in the tournaments and her breaking the gender barrier, the NCFP awarded her the title of National Master.

Traditionally, the chess titles conferred to men are higher in value than those given to women. In fact, the world chess federation requires higher FIDE rating thresholds compared to their female equivalents when awarding chess titles such as Grandmaster, International Master, FIDE Master and Candidate Master.

Nicolas is seen as the brightest future of Philippine chess.

She is set to compete in Asean Age-Group Chess Championships in Bangkok, Thailand slated from June 17 to 27, 2023, where she also aims for the Woman FIDE Master title.

She is set to play in the 1st Professional Chess Association of the Philippines National Interschool Championship slated next month. She will play for the VCIS-Homeschool Global Chess Team along with National Master Antonella Berthe Racasa, Gabriel Ryan Paradero, Andrew Toledo and Aron Toledo. Team coach is Robert Racasa.

Her parents, Nikki and Krisanto, are proud of the achievements of their daughter and thrilled about what she can accomplish in the future.

"Such a feat is not without pain, losses and sacrifices," said Nikki.

"Baby Nika would only have a day of rest before she had to fly to another tournament for the past month. More than that, she suffered many losses along the way. Undeterred by all these challenges, she courageously played in Dapitan City and performed well."

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D Gukesh finishes third at Norway Chess; climbs to World No 13 spot with career-high live rating of 2744 – The Indian Express

Indias Dommaraju Gukesh finished third in the prestigious Norway Chess event with a score of 14.5 to finish just behind winner Hikaru Nakamura and Fabiano Caruana.

Thanks to his performance at the Norway event, the Indian was able to climb up to the World No 13 spot with a live rating of 2744. Five-time World Champion Viswanathan Anand is the only Indian ahead of Gukesh.

The chess prodigy, who is known to be youngest player to beat Magnus Carlsen after he became the world champion, turned 17 during the event.

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First published on: 10-06-2023 at 12:35 IST

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10-year-old girl named PH’s chess national master in historic first – PhilStar Life

The country just had its very first female chess national master in a 10-year-old resident from Pasig.

The National Chess Federation of the Philippines (NCFP) conferred the title on Nika Juris Nicolas on June 9. The title is typically given to male players of the sport that's male-dominated to begin with.

The NCFP in a Facebook post noted that Nicolas was the only female participant in the Boys Under 11 Division of the National Youth and Schools Chess Championships Grand Finals in Dapitan City in Zamboanga del Norte from June 2 to 9. She won medals in all categories, including a silver in standard, a silver in blitz, and a bronze in rapid.

The NCFP also took note of Nicolas's previous achievements.

She emerged as the champion in the Under 11 Boys Division of the NCFP National Eliminations in Himamaylan City in Negros Occidental last March.

The federation said it's quite uncommon for women to compete in open divisions since it is usually preferred that they join the separate division for women. The World Chess Federation, it noted, maintains separate titles for boys and open categories. Chess titles for men are also considered higher in value.

"Her exceptional performance in the boys' division is truly noteworthy," the NCFP said of Nicolas, "and she has now secured her place in Philippine chess history as the country's first and only National Master who is female."

Nicolas is set to compete in the ASEAN Age Group Chess Championships, which will be held in Bangkok in Thailand from June 17 to 27.

"Nika's historic accomplishment as the first and only female National Master in the Philippines," the NCFP said, "breaks societal barriers and challenges the notion of male dominance in chess."

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US Chess Seeks a Director of Operations – uschess.org

Director of OperationsFull Time, 40 hours/week (Exempt)St. Louis, Missouri (hybrid possible)

Position Overview: Reporting to the Executive Director, the Director of Operations oversees the day-to-day operations of the organization, ensuring that it runs efficiently and that all members of the team have what they need to succeed (such as equipment, supplies, accurate records, and a safe and supportive work environment). The Director of Operations also coordinates communication and information flow among and between stakeholders, which includes executive management, the US Chess Executive Board, staff, members, donors, and others within the broader chess community.

Responsibilities include:

General

Required Skills/Abilities

Education and Experience

US Chess provides a competitive salary and benefits package.

US Chess headquarters is located in St. Louis Union Station, close to all major downtown attractions. We are accessible by MetroLink and provide paid parking for our employees.

To apply, submit your cover letter, resume, and the names/contact information for 3 professional references to Carol Meyer (carol.meyer@uschess.org).

June 2023

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