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By Ryan Jackson

While its not critical for most people to understand how quantum computing works, it is a concept of growing importance for industries that use encryption and algorithms, including banking.

One way to think about how to prioritize emerging technologies is with McKinseys Three Horizons model, which buckets technologies and business concepts into horizons based on their approach to manage for current performance while maximizing future opportunities for growth.

Within the Three Horizons model, Horizon 3 contains the seeds of tomorrows business options on future opportunities. Quantum computing, which is part of the broader field of emerging quantum technologies, resides with Horizon 3, though with current advancements it may soon find itself in Horizon 2 or 1.

According to Amazon Web Services, no quantum computer can [currently]perform a useful task faster, cheaper, or more efficiently than a classical computer. Quantum advantage is the threshold where we have built a quantum system that can perform operations that the best possible classical computer cannot simulate in any kind of reasonable time. That said, a number of the largest technology players (for example, Amazon, Microsoft, Google) are exploring and developing quantum computing services.

Not to be outdone by the large technology companies, many large financial services companies (including JPMorgan, Bank of America, Wells Fargo, BlackRock and Mastercard) have been exploring quantum computing over the past few years, and several have made direct investments into quantum computing startups. According to a recent World Economic Forum report, government and business investment in quantum technologies reached nearly $36 billion worldwide as of 2022.

Despite increasing investment in quantum technologies, one of the issues inhibiting quantum computing from advancing more quickly is the lack of quantum technology talent. Until the industry matures, and more opportunities emerge for less technical talent, startups and established companies will be vying for the same limited resources.

Data is the lifeblood of many industries, and financial services is no exception. Quantum computing is all about analyzing more data more quickly. And when we think about all the areas of banking that rely on turning data into insights, the potential for quantum computing to generate value becomes clear. Consider, for example, the following lifecycle of a bank customer and how data models are leveraged:

Using quantum computing has the potential to include more data points, run models more quickly and produce more accurate analytics. McKinsey estimates that finance is one of four of the main industries that has the potential to capture nearly $700 billion in value as early as 2035 leveraging quantum technologies.

While quantum computing may eventually offer significant benefits especially in predictive analytics and simulations, the risk it could introduce to financial institutions (and other industries) cant be overstated. By far, the biggest emerging threat is nefarious actors (for example, criminals, terrorists, and rogue governments) using quantum computers to break public key encryption, which is the backbone of secure data transmission. Banks are safekeepers of investments, public assets, pensions, retirement accounts, and personally identifiable information and rely on public key encryption to maintain the security and privacy of this type of information. Should quantum computing allow for encryption algorithms to be cracked, the impact could be significant. Even the threat of such bad actors leveraging quantum computing may undermine public confidence in commonly used encryption methods, creating problems for the institutions, including banks, responsible for safeguarding data.

The U.S. government has launched a multi-pronged strategy to address the risk, develop standards and ensure that government agencies are prepared. While the federal banking agencies have not issued any specific guidance yet, they can rely on existing regulations and supervisory guidance and the ongoing examination process.

Quantum computing is not yet at the stage where it surpasses classic computing, though the ecosystem is developing rapidly. Some estimate quantum computing will become mainstream in 10 to 15 years, but recently weve seen claims indicating the technology may be available much sooner than that. Despite quantum computing not being an imminent threat, there are several steps banks should take to monitor developments in the technology and increase awareness of the risks:

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Quantum computing and the future of bank tech | ABA Banking Journal - ABA Banking Journal

Quantum computing has the potential to solve complex problems that are beyond the reach of classical computers. Industries such as finance, logistics, healthcare, materials science, cryptography, and optimization are expected to benefit from quantum computing.

PUNE, India, May 18, 2023 /PRNewswire/ --Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Quantum Computing Market.

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The global quantum computing market size is projected to reach USD 3947.77 million by 2029, at a CAGR of 30.5% during the forecast period 2023 to 2029.

The recently released Quantum Computing Market research content has been painstakingly created by industry professionals using in-depth data analysis and a thorough understanding of various markets. In-depth research, whitepapers, case studies, trend assessments, and industry insights from a variety of industries, including but not limited to technology, healthcare, finance, consumer goods, and manufacturing, are included in this extensive collection.

What is Quantum computing?

Quantum computing is a multidisciplinary field comprising aspects of computer science, physics, and mathematics that utilizes quantum mechanics to solve complex problems faster than on classical computers. The field of quantum computing includes hardware research and application development. Quantum computers are able to solve certain types of problems faster than classical computers by taking advantage of quantum mechanical effects, such as superposition and quantum interference. Some applications where quantum computers can provide such a speed boost include machine learning (ML), optimization, and simulation of physical systems. Eventual use cases could be portfolio optimization in finance or the simulation of chemical systems, solving problems that are currently impossible for even the most powerful supercomputers on the market.

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Click & Get Free Sample Report in Minutes:

https://exactitudeconsultancy.com/reports/15766/quantum-computing-market/#request-a-sample

Quantum Computing Market Drivers:

Advancements in Quantum Hardware: The development of more stable and scalable quantum hardware is a crucial driver for the quantum computing market. Progress in areas such as qubit coherence time, error correction, and qubit count enables the construction of more powerful and reliable quantum computers. Continued advancements in quantum hardware technologies drive the growth and capabilities of the quantum computing market.

Increasing Demand for Computing Power: With the explosion of data and the complexity of computational problems, there is a growing demand for more powerful computing systems. Quantum computers have the potential to solve certain problems exponentially faster than classical computers, making them attractive for applications in fields such as optimization, simulation, cryptography, machine learning, and drug discovery. The need for enhanced computing power and the pursuit of breakthrough solutions drive the demand for quantum computing.

R&D Investments and Funding: Governments, technology companies, and venture capitalists are investing significant resources into quantum computing research and development. Funding supports academic research, startup companies, and large-scale projects aimed at advancing quantum technologies. These investments are crucial in driving innovation, accelerating progress, and bringing quantum computing closer to commercial viability.

Partnerships and Collaboration: Collaboration among industry players, research institutions, and governments is a key driver for the quantum computing market. Partnerships enable the pooling of expertise, resources, and capabilities, fostering technological advancements and knowledge sharing. Collaborative efforts help address the challenges in developing quantum hardware, software, and algorithms, driving the overall progress of the quantum computing market.

Here Are Some Of The Technological Advancements In The Quantum Computing Market:

Qubit Development:Qubits, or quantum bits, are the fundamental units of information in quantum computing. Technological advancements are focused on developing more stable and scalable qubits. Different types of qubits, such as superconducting, trapped-ion, topological, and silicon-based qubits, are being explored to improve qubit coherence, reduce errors, and increase computational power.

Error Correction: Quantum computers are prone to errors due to environmental noise and imperfections in qubits. Error correction techniques, such as quantum error correction codes and fault-tolerant quantum computation, are being developed to mitigate errors and improve the reliability of quantum computations. These techniques are critical for scaling up quantum systems and achieving higher accuracy.

Quantum Algorithms: Quantum algorithms are specifically designed to leverage the unique properties of quantum computers and solve problems more efficiently than classical algorithms. Researchers are developing quantum algorithms for applications such as optimization, simulation, cryptography, machine learning, and quantum chemistry. Advancements in quantum algorithms are essential for unlocking the full potential of quantum computing and driving its adoption in various domains.

Competitive Insight

Some of the Notable Market Players Operating In The Global Quantum Computing Market Covered In This Report Are:

IBM Corporation

Telstra Corporation Limited

IonQ Inc.

Silicon Quantum Computing

Huawei Technologies Co. Ltd.

Alphabet Inc.

Rigetti & Co Inc.

Microsoft Corporation

D-Wave Systems Inc.

Zapata Computing Inc. Mergers and acquisitions

joint ventures

capacity expansions

Recent Developments:

Increased Funding and Investments: The quantum computing market has witnessed a surge in funding and investments. Governments, technology companies, and venture capitalists are allocating significant resources to quantum research and development. For example, the U.S. government has launched the National Quantum Initiative Act, which includes $1.2 billion in funding for quantum research over a five-year period. These investments are fueling advancements in quantum hardware, software, and algorithms.

Quantum Supremacy Achievements:In 2019, Google announced the achievement of quantum supremacy, a milestone where a quantum computer outperforms classical computers in a specific task. Google's quantum processor, called Sycamore, solved a computational problem in just 200 seconds that would take the most powerful supercomputers thousands of years to solve. This achievement showcased the potential of quantum computing and garnered significant attention in the industry.

IBM Quantum Roadmap:IBM has been actively involved in the development and promotion of quantum computing. They have released a roadmap outlining their plans for advancing quantum hardware and software over the next decade. IBM aims to build quantum computers with thousands of qubits and error rates below one percent, paving the way for more complex and practical applications of quantum computing.

Browse the full "Quantum Computing Market by Offering (Hardware, Software, Service), Deployment Type (On-Premises, Cloud-Based), Application (Optimization, Simulation and Data Problems, Sampling, Machine Learning), Technology (Quantum Dots, Trapped Ions, Quantum Annealing), End-user (Banking, Financial Services and Insurance (BFSI), Aerospace & Defense, Manufacturing, Healthcare, IT & Telecom, Energy & Utilities) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2022 to 2029" Report and TOC at: https://exactitudeconsultancy.com/reports/15766/quantum-computing-market/

Segment Overview:

Quantum Computing Market, By Offering, 2019-2029 (USD Million)

Quantum Computing Market, By Deployment Type, 2019 2029 (USD Million)

To Learn More About This Report, Request A free sample copy

Regional Insights

North America: North America, particularly the United States, has been at the forefront of quantum computing research and development. It is home to several prominent companies, research institutions, and startups focused on quantum technologies. The U.S. government has launched initiatives such as the National Quantum Initiative Act and has made substantial investments in quantum research. Major players like IBM, Google, Microsoft, and Honeywell are actively involved in advancing quantum computing in this region.

Europe: Europe has emerged as a key player in the quantum computing market. Countries like Germany, the Netherlands, the United Kingdom, and Switzerland have made significant investments in quantum research and development. The European Union has launched the Quantum Flagship Program, a 1 billion Euro initiative aimed at accelerating quantum technologies. European companies and research institutions are collaborating on projects and partnerships to drive advancements in quantum hardware, software, and applications.

Asia Pacific: Asia Pacific is witnessing rapid growth and investments in the quantum computing market. China has made substantial investments in quantum research and development as part of its national strategy to become a global leader in quantum technologies. Companies like Alibaba, Huawei, and Baidu are actively involved in quantum computing research and applications. Other countries in the region, including Japan, South Korea, Australia, and Singapore, are also investing in quantum technologies and fostering collaborations.

What Are The Key Data Covered In This Quantum Computing Market Report?

Market Size and Forecast: The report would provide an analysis of the current market size for quantum computing and offer forecasts for future growth. This would include revenue projections, compound annual growth rates (CAGR), and estimations of market value.

Market Segmentation:The market report would likely segment the quantum computing market based on various factors such as hardware, software, services, applications, and end-user industries. This segmentation helps provide a detailed understanding of the different market segments and their respective growth potential.

Competitive Landscape: The report would analyze the competitive landscape of the quantum computing market, identifying key players, their market share, and strategic initiatives. It would include a comparison of different companies in terms of their offerings, partnerships, collaborations, acquisitions, and research activities in the quantum computing space.

To Know An Additional Revised 2023 List Of Market Players, Request A Sample Report:

https://exactitudeconsultancy.com/reports/15766/quantum-computing-market/#request-a-sample

Browse Other Related Research Reports from Exactitude Consultancy

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About Exactitude Consultancy

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

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With CAGR 25.2%, Quantum Computing Market Trends, Demand, And Future Scope 2023 To 2029 - Yahoo Finance

Quantum eMotion Joins the Hudson Institute in Washington, DC at the Presentation of its New Report on the Quantum Threat to the U.S. Financial System

Montreal, Quebec--(Newsfile Corp. - May 19, 2023) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) ("QeM" or the "Company") today announces its participation at the launch by the Hudson Institute's Quantum Alliance Initiative (QAI) of its new report on the Quantum threat to the U.S. Financial system.

The report highlights the potentially devastating consequences of a future quantum computer attack on the US financial system. It emphasizes the need for the Federal Reserve to take the quantum threat seriously, like the steps taken by the White House and federal government in their Zero-Trust Cybersecurity strategy.

The report indicates that a cascading quantum attack on major banks, the Federal Reserve, or stock exchanges could have calamitous effects on the US and global economy, possibly worse than the Great Depression. Quantum computers have the potential to decrypt public-key encryption, which is widely used in banking and other critical systems.

The report warns that the threat is undetectable and could persist for days or weeks, causing bank runs and significant financial failures. The estimated cost of a single quantum attack on a major US financial institution targeting the Fedwire Funds Service payment system ranges from $730 billion to $1.95 trillion. The overall impact of a quantum hack and its cascading effects could result in a decline in annual real GDP by 10% to 17%, leading to a six-month recession and indirect losses of $2 to $3.3 trillion. To address this threat, the report recommends adopting post-quantum cryptography standards, convening a Quantum Security Summit involving major banks, setting a deadline for all Federal Reserve banks to be quantum secure, and establishing a quantum security task force at the Fed. It emphasizes the urgency of taking action today to mitigate the risk posed by future quantum computers to the financial sector.

The report "Prosperity at Risk: The Quantum Computer Threat to the U.S. Financial System" can be downloaded at the following link: https://www.hudson.org/technology/prosperity-risk-quantum-computer-threat-us-financial-system

As a prominent U.S. think tank that has been influential in shaping public discourse and policy debates, the Hudson Institute has identified quantum computing and quantum cybersecurity as critical and strategic technologies with inevitable impact on national security and on the economy. Consistently, the creation of QAI helped to foster more urgency among the cybersecurity industry to establish necessary global standards for securing quantum communication.

Francis Bellido, CEO of Quantum eMotion, commented, "We are honored to have joined the Quantum Alliance and actively participating in its initiatives. In a few years QAI has developed itself in an international consortium of companies, government institutions, and universities with the mission to raise awareness and develop policies for the benefit of the Western world quantum ecosystem."

He added: "We believe our quantum-secure Sentry-Q communication platform and our Quantum-protected Blockchain wallet can play a significant role in controlling the threats facing traditional Financial Systems and new blockchain-based approaches used by Decentralized Finance (DeFi)."

About QeM

The Company's mission is to address the growing demand for affordable hardware security for connected devices. The patented solution for a Quantum Random Number Generator exploits the built-in unpredictability of quantum mechanics and promises to provide enhanced security for protecting high value assets and critical systems.

The Company intends to target the highly valued Healthcare Services industry while ensuring its technology is also relevant and applicable to others, such as Financial Services, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics) and Quantum Cryptography.

For further information, please contact:

Francis Bellido, Chief Executive OfficerEmail: info@quantumemotion.comWebsite: http://www.quantumemotion.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Corporation's periodic reports including the annual report or in the filings made by Quantum from time to time with securities regulatory authorities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166731

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Quantum eMotion Joins the Hudson Institute in Washington, DC at ... - InvestorsObserver

HAMBURG, Germany, May 19, 2023 Research requires persistence, and the contribution of early and middle-career researchers to expanding the frontiers of high performance computing and related domains can sometimes be overlooked. The ISC Conference Series celebrates individual and collective research accomplishments with several awards to recognize the important work.

We hope you will attend the following sessions to honor the following researchers contributions to our community.

Jack Dongarra Early Career Award and Lecture SeriesMonday, May 22, 11:25 am to 12 pm (Hall Z)

The inaugural Jack Dongarra Award winner isDr. Torsten Hoefler, an associate professor at ETH Zurich, Switzerland. This award acknowledges Hoeflers significant contributions to converging HPC and AI. His research focuses on performance-centric system design, which includes scalable networks, parallel programming techniques, and performance modeling for large-scale simulations and AI systems. He is invited to lecture onInheriting Excellence: High-Performance Computing at a Crossroads.This award includes prize moneyof 5,000 euros, whichProfessor Jack Dongarrahimself will present.

Hans Meuer Award SessionMonday, May 22, 2:50 pm to 3:30 pm (Hall 4)

This award recognizes the most outstanding research paper submitted to the research paper committee. This years winning paper isExpression Isolation of Compiler-Induced Numerical Inconsistencies in Heterogeneous Code.This paper was authored byDolores Miao, a computer science Ph.D. student at UC Davis, California,Dr. Ignacio Laguna, a computer scientist at the Center for Applied Scientific Computing (CASC) at the Lawrence Livermore National Laboratory, andDr. Cindy Rubio-Gonzlez, assistant professor at the Department of Computer Science at UC Davis.The winners receivea cash prize of 3,000 Euros and an award certificate.

Twenty-one acceptedpapers will be presented from Monday, May 22, to Wednesday, May 24. All accepted ISC 2023 research papers are published in Springers Lecture Notes in Computer Science (LNCS) series and can bedownloaded for freeuntil June 15.[nbsp]

ISC Research Poster Award SessionTuesday, May 23, 2:30 pm to 3:30 pm (Hall G1 2nd Floor), followed by a meet and greetResearch Poster Receptionfrom3:30 pm to 5:30 pm (Foyer D-G 2nd Floor).

This year, three posters are nominated for the ISC 2023 Research Poster Award, sponsored by Springer, the international publisher specializing in science, technology, and medicine. This award recognizes three outstanding research posters selected by members of the posters committee. The winners will be chosen followinga poster pitch. The research poster award includes a cash prize of 500 Euros (first place), 300 Euros (second place), and 200 Euros (third place).

The nominated posters are:

Online Display

All acceptedresearch postersare currently published online. The online displays include theISC Project Postersand theWomen in HPCPosters.

We hope to see you at these sessions to acknowledge the award recipients work.

Join ISC High Performance 2023 and Imagine Tomorrow

ISC 2023 will be held at the Congress Center Hamburg from May 21 25. Join the HPC community of attendees, speakers, and exhibitors. The exhibition will showcase the latest advancements in HPC, encompassing all the key developments in system design, applications, programming models, machine learning, quantum computing, and emerging technologies.

First held in 1986, ISC High Performance distinguishes itself as the worlds oldest and Europes most significant forum for the HPC and related domains.https://www.isc-hpc.com/

Source: ISC Communications Team

Link:
Recognizing Research Excellence and Accomplishments at ISC 2023 - HPCwire

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Devices that Bridge the Gap between Matter and Light ... - eeNews Europe