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Private sector IT buyers will see a long-term boost to their budgets after the Chancellor of the Exchequer, Jeremy Hunt, announced that a policy allowing the cost of IT equipment to be written off against tax will be made permanent.

The so-called full expensing policy was first announced as a short-term incentive in the Budget in March, but Hunt said in his Autumn Statement it will now be made a permanent measure. It means money spent on IT equipment, plant or machinery can be deducted from taxable profits for any organisation that pays corporation tax.

The UK IT sector is likely to benefit from a number of other announcements revealed by Hunt today (22 November).

Changes to research and development (R&D) tax credits will see more companies eligible to make claims supporting innovation. Two existing schemes, the current R&D Expenditure Credit and SME schemes will be merged from April 2024 onwards, and the government estimates that around 5,000 extra small businesses will qualify for an enhanced rate of relief. The changes are expected to offer 280m additional relief per year by 2028-29 to help drive innovation in the UK.

In support of previously announced moves to encourage UK pension funds to invest more in tech startups, the government will commit 250m to two successful bidders in the Long-term Investment for Technology and Scienceinitiative. According to HM Treasury, This will create new investment vehicles tailored to the needs of pension funds, generating over a billion pounds of investment from pension funds and other sources into UK science and technology companies.

Two existing startup support schemes, the Enterprise Investment Scheme and Venture Capital Trusts, will also be extended to 2035.

To support the governments ambitions in establishing the UK as a leader in artificial intelligence (AI), Hunt announced a further 500m over the next two years to help establish two more compute innovation centres, bringing total investment to more than 1.5bn. These investments will allow researchers and SMEs to develop new foundation models and maximise the UKs potential in AI, enabling, for example, the discovery of new drugs, according to the Treasurys full Autumn Statement report.

In support of the National Quantum Strategy, announced in March, the government has identified five quantum missions intended to achieve a series of specific outcomes to encourage further UK developments in this emerging technology area.

These missions aim to establish UK-based quantum computers supporting one trillion operations, by 2035; the worlds most advanced quantum network, also by 2035; and by 2030 allowing every NHS Trust to benefit from quantum sensing-enabled solutions; quantum navigation systems to be deployed on aircraft; and mobile, networked quantum sensors that can unlock new situational awareness capabilities in the transport, telecoms, energy and defence sectors.

Creating the UKs own quantum computing infrastructure is key to our future on the world stage, said Rashik Parmar, chief executive of BCS, The Chartered Institute for IT. Quantum computing needs to be embedded across businesses and driven forward by many more highly skilled computing graduates and apprentices.

To boost skills, Hunt also announced funding of 50m over the next two years to pilot ways to increase the number of apprentices in engineering and other key growth sectors. He also revealed three additional investment zones in addition to the 12 announced in March focused on advanced manufacturing in the West Midlands, East Midlands and Greater Manchester.

Together, local partners expect these will help catalyse over 3.4bn of private investment and 65,000 new jobs, said Hunt.

The government has accepted the recommendations of a review by its chief scientific adviser, professor Angela McLean, to encourage pro-innovation regulation so that industry regulators, such as communications watchdog Ofcom, can adapt to enable the safe and rapid introduction of beneficial emerging technologies more easily.

A consultation has been launched to evaluate methods for smarter regulation by Ofcom and other industry regulators such as Ofgem and Ofwat, aiming to reduce the regulatory burden on businesses and encourage investment and innovation.

The government also published its Future of payments review report alongside the Autumn Statement, which looks to build on developments in open banking and the UKs leadership in the fintech sector to improve the use of digital payments. The report calls for a National Payments Vision and Strategy to create a world-leading payments environment.

A 960m Green Industries Growth Accelerator fund will look to support emerging technologies in clean energy and the transition to net-zero.

The best universities, the cleverest scientists and the smartest entrepreneurs have given us Europes most innovative economy, said Hunt in his speech to the House of Commons.

This Autumn Statement for growth will attract 20bn of additional business investment a year in the next decade, bring tens of thousands more people into work and support our fastest-growing industries.

Responding to the chancellor's statement, Julian David, CEO of trade body TechUK, said the package of measures relating to the tech sector was "bigger than many expected".

This statement has significant potential to boost investment from the tech sector. However, with low growth forecasts, there is no room for mistakes and no time to lose. The government needs to work at pace alongside the tech sector to put these policies into action and get growth going, said David.

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Chancellor offers spending boost for IT buyers alongside AI and ... - ComputerWeekly.com

WISeKey's Subsidiary, SEALSQ, to Increase Investments in AI-Enhanced Semiconductors and IoT Innovations Over the Next Five Years

To date, WISeKey has invested over $17 million for the development of a cutting-edge SEALSQ IoT Cybersecurity Platform and a Post Quantum Chip to be enhanced by AI

These investments aim to integrate AI, foster the creation of sophisticated predictive IoT analysis systems, and improve operational efficiency and security of IoT devices

GENEVA November 28, 2023 WISeKey International Holding Ltd. (WISeKey) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) solutions, operating as a holding company, in conjunction with its subsidiary SEALSQ Corp (NASDAQ: LAES) (SEALSQ), today announced its intention to increase its investments in Artificial Intelligence (AI). Integration of AI with Cybersecurity and IoT will propel the creation of advanced predictive analysis systems and enhance the operational efficiency and security of IoT devices.

SEALSQs AI strategy would include further investments in new post-quantum chips, which are currently under development and expected to be commercialized in 2025. These chips are designed to improve AI performance in semiconductors, bringing unprecedented capabilities to the technology world. SEALSQs wide range of solutions, including secure elements, root of trust, cryptographic keys, and hardware security modules, underscore its commitment to spearheading technological advancements while fortifying semiconductors against potential vulnerabilities.

A Groundbreaking Synergy: Cybersecurity, AI and IoT

The fusion of IoT and AI, termed AIoT (Artificial Intelligence of Things), represents a leap forward in our technological capabilities. The high-integrity data generated by IoT devices, certified and protected through SEALSQs innovative NFT technology, will be analyzed by AI. This analysis provides deep insights into device behaviors, predicting and preempting issues before they occur in order to dramatically improve operational efficiency and digital security. SEALSQ is pioneering the integration of AI with NFT/Matter-based IoT certification, enhancing the intuitiveness and efficiency of IoT devices. This initiative is a part of the broader AIoT revolution, which is setting new benchmarks in smart technology.

SEALSQs strategy is designed to take advantage of the new opportunities arising from the rapid expansion of the global IoT market and demand for AI-enhanced technologies. According to the latest IoT Analytics State of IoTSpring 2023 report, the global IoT market is expected to grow from 14.3 billion active IoT endpoints in 2022, to 16.7 billion by the end of 2023, and exceed 29 billion in 2027, showcasing the ever-increasing importance of IoT in our digital landscape.

SEALSQS AIOT SYSTEMS: DUAL APPROACH

SEALSQs AIoT systems are designed to cater to various operational needs:

SEALSQs AIoT systems are designed to cater to various industries:

About SEALSQ

SEALSQ Corp (NASDAQ: LAES) is a wholly owned subsidiary of the WISeKey Group that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products. Our Post-Quantum solutions include Post-Quantum microchips and devices that can be used in a variety of applications, from Multi-Factor Authentication devices, Home Automation, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.

Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, visit http://www.sealsq.com

About WISeKey

WISeKey International Holding Ltd (WISeKey, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.

Each subsidiary contributes to WISeKeys mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The companys semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKeys strategic direction and its subsidiary companies, please visit http://www.wisekey.com.

Press and investor contacts: WISeKey International Holding Ltd Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 / info@wisekey.com

WISeKey Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +1 212 836-9612 / kmurphy@equityny.com

Disclaimer:

This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (FinSA), the FInSas predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

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WISeKey's Subsidiary, SEALSQ, to Increase Investments in AI ... - GlobeNewswire

One of the most well-established and disruptive uses for a future quantum computer is the ability to crack encryption. A new algorithm could significantly lower the barrier to achieving this.

Despite all the hype around quantum computing, there are still significant question marks around what quantum computers will actually be useful for. There are hopes they could accelerate everything from optimization processes to machine learning, but how much easier and faster theyll be remains unclear in many cases.

One thing is pretty certain though: A sufficiently powerful quantum computer could render our leading cryptographic schemes worthless. While the mathematical puzzles underpinning them are virtually unsolvable by classical computers, they would be entirely tractable for a large enough quantum computer. Thats a problem because these schemes secure most of our information online.

The saving grace has been that todays quantum processors are a long way from the kind of scale required. But according to a report in Science, New York University computer scientist Oded Regev has discovered a new algorithm that could reduce the number of qubits required substantially.

The approach essentially reworks one of the most successful quantum algorithms to date. In 1994, Peter Shor at MIT devised a way to work out which prime numbers need to be multiplied together to give a particular numbera problem known as prime factoring.

For large numbers, this is an incredibly difficult problem that quickly becomes intractable on conventional computers, which is why it was used as the basis for the popular RSA encryption scheme. But by taking advantage of quantum phenomena like superposition and entanglement, Shors algorithm can solve these problems even for incredibly large numbers.

That fact has led to no small amount of panic among security experts, not least because hackers and spies can hoover up encrypted data today and then simply wait for the development of sufficiently powerful quantum computers to crack it. And although post-quantum encryption standards have been developed, implementing them across the web could take many years.

It is likely to be quite a long wait though. Most implementations of RSA rely on at least 2048-bit keys, which is equivalent to a number 617 digits long. Fujitsu researchers recently calculated that it would take a completely fault-tolerant quantum computer with 10,000 qubits 104 days to crack a number that large.

However, Regevs new algorithm, described in a pre-print published on arXiv, could potentially reduce those requirements substantially. Regev has essentially reworked Shors algorithm such that its possible to find a numbers prime factors using far fewer logical steps. Carrying out operations in a quantum computer involves creating small circuits from a few qubits, known as gates, that perform simple logical operations.

In Shors original algorithm, the number of gates required to factor a number is the square of the number of bits used to represent it, which is denoted as n2. Regevs approach would only require n1.5 gates because it searches for prime factors by carrying out smaller multiplications of many numbers rather than very large multiplications of a single number. It also reduces the number of gates required by using a classical algorithm to further process the outputs.

In the paper, Regev estimates that for a 2048-bit number this could reduce the number of gates required by two to three orders of magnitude. If true, that could enable much smaller quantum computers to crack RSA encryption.

However, there are practical limitations. For a start, Regev notes that Shors algorithm benefits from a host of optimizations developed over the years that reduce the number of qubits required to run it. Its unclear yet whether these optimizations would work on the new approach.

Martin Eker, a quantum computing researcher with the Swedish government, also told Science that Regevs algorithm appears to need quantum memory to store intermediate values. Providing that memory will require extra qubits and eat into any computational advantage it has.

Nonetheless, the new research is a timely reminder that, when it comes to quantum computings threat to encryption, the goal posts are constantly moving, and shifting to post-quantum schemes cant happen fast enough.

Image Credit: Google

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Quantum Computers Could Crack Encryption Sooner Than Expected With New Algorithm - Singularity Hub

Science (like us) isn't always sure of where the best possible future is, and computing is no exception. Whether in classic semiconductor systems or in the forward-looking reality of quantum computing, there are sometimes multiple paths forward (and here's our primer on quantum computing if you want a refresher). Transmon superconducting qubits (such as the ones used by IBM, Google, and Alice&Bob) have gained traction as one of the most promising qubit types. But new MIT research could open up a door towards another type of superconducting qubits that are more stable and could offer more complex computation circuits: fluxonium qubits.

Qubits are the quantum computing equivalent to transistors - get increasing numbers of them together, and you get increased computing performance (in theory). But while transistors are deterministic and can only represent a binary system (think of the result being either side of a coin, mapped to either 0 or 1), qubits are probabilistic and can represent the different positions of the coin while it's spinning in the air. This allows you to explore a bigger space of possible solutions than what can easily be represented through binary languages (which is why quantum computing can offer much faster processing of certain problems).

One current limitation to quantum computing is the accuracy of the computed results - if you're looking for, say, new healthcare drug designs, it'd be an understatement to say you need the results to be correct, replicable, and demonstrable. But qubits are sensitive and finicky to external stressors such as temperature, magnetism, vibrations, fundamental particle collisions, and other elements, which can introduce errors into the computation or collapse entangled states entirely. The reality of qubits being much more prone to external interference than transistors is one of the roadblocks on the road to quantum advantage; so a solution lies in being able to improve the accuracy of the computed results.

It's also not just a matter of applying error-correcting code to low-accuracy results and magically turning them into the correct results we want. IBM's recent breakthrough in this area (applying to transmon qubits) showed the effects of an error-correction code that predicted the environmental interference within a qubit system. Being able to predict interference means you can account for its effects within the skewed results and can compensate for them accordingly - arriving at the desired ground truth.

But in order for it to be possible to apply error-correction codes, the system has to already have passed a "fidelity threshold" - a minimum operating-level accuracy that enables those error-correcting codes to be just enough for us to be able to extract predictably useful, accurate results from our quantum computer.

Some qubit architectures - such as fluxonium qubits, the qubit architecture the research is based on - possess higher base stability against external interference. This enables them to stay coherent for longer periods of time - a measure of how long the qubit system can be effectively used between shut-downs and total information loss. Researchers are interested in fluxonium qubits because they've already unlocked coherence times of more than a millisecond - around ten times longer than can be achieved with transmon superconducting qubits.

The novel qubit architecture enables operations to be performed between fluxonium qubits with important accuracy levels. Within it, the research team enabled fluxonium-based two-qubit gates to run at 99.9% accuracy and single-qubit gates to run at a record 99.99% accuracy. The architecture and design were published under the title "High-Fidelity, Frequency-Flexible Two-Qubit Fluxonium Gates with a Transmon Coupler" in PHYSICAL REVIEW X.

You could think about fluxonium qubits as being an alternative qubit architecture with its own strengths and weaknesses; not as an evolution of the quantum computing that has come before. Transmon qubits are made of a single Josephson junction shunted by a large capacitor, while fluxonium qubits are made of a small Josephson junction in series with an array of larger junctions or a high kinetic inductance material. It's partly for this that fluxonium qubits are harder to scale: they require more sophisticated coupling schemes between qubits, sometimes even using transmon qubits for this purpose. The fluxonium architecture design described in the paper does just that in what's called a Fluxonium-Transmon-Fluxonium (FTF) architecture.

Transmon qubits such as the ones used by IBM and Google are relatively easier to manipulate into bigger qubits arrays (IBM's Osprey is already at 433 qubits) and have faster operation times, performing fast and simple gate operations mediated by microwave pulses. Fluxonium qubits do offer the possibility of performing slower yet more accurate gate operations through shaped pulses than a transmon-only approach would enable.

There's no promise of an easy road to quantum advantage through any qubit architecture; that's the reason why so many companies are pursuing their differing approaches. In this scenario, it may be useful to think about this Noisy-Intermediate Scale Quantum (NISQ) era being the age where multiple quantum architectures flourish. From topological superconductors (as per Microsoft) through diamond vacancies, transmon superconduction (IBM, Google, others), ion traps, and a myriad of other approaches, this is the age where we will settle into certain patterns within quantum computing. All architectures may flourish, but it's perhaps most likely that only some will - which also justifies why states and corporations aren't pursuing a single qubit architecture as their main focus.

The numerous, apparently viable approaches to quantum computing we're witnessing put us right in the middle of the branching path before x86 gained dominance as the premier architecture for binary computing. It remains to be seen whether the quantum computing future will readily (and peacefully) agree on a particular technology, and how will a heterogeneous quantum future look like.

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MIT's Superconducting Qubit Breakthrough Boosts Quantum Performance - Tom's Hardware

CAMBRIDGE, Mass. Researchers at MIT have achieved a significant breakthrough in quantum computing, bringing the potential of these incredible thinking machines closer to realization. Quantum computers promise to handle calculations far too complex for current supercomputers, but many hurdles remain. A primary challenge is addressing computational errors faster than they arise.

In a nutshell, quantum computersfind better and quicker ways to solve problems. Scientists believe quantum technology could solve extremely complex problems in seconds, while traditional supercomputers you see today could need months or even years to crack certain codes.

What makes these next generation supercomputers different from your everyday smartphone and laptop is how they process data. Quantum computers harness the properties of quantum physics to store data and perform their functions. While traditional computers use bits (either a 1 or a 0) to encode information on your devices, quantum technology uses qubits.

These qubits can be in a state of 1, 0, or both at once, enabling more complex computations. However, they are highly susceptible to errors.

To reduce these errors, the MIT team developed a new type of superconducting qubit named fluxonium, which has a longer lifespan than the traditional kind. The team crafted a unique architecture involving these fluxonium qubits that can perform operations (known as gates) more accurately. Their design enabled two-qubit gates that exceeded 99.9 percent accuracy and single-qubit gates with 99.99 percent accuracy.

Building a large-scale quantum computer starts with robust qubits and gates. We showed a highly promising two-qubit system and laid out its many advantages for scaling. Our next step is to increase the number of qubits, says study lead author Dr. Leon Ding PhD 23, who was a physics graduate student in the Engineering Quantum Systems (EQuS) group, in a university release.

To give a comparison, in classical computing, a gate would be an operation performed on bits. In quantum computing, a gate would be a logical operation on one or two qubits. Achieving higher accuracy in these operations is essential as errors in quantum systems can multiply quickly, leading to system failures.

For years, the primary focus in quantum research was on a type of qubit known as transmon. The newer fluxonium qubits boast a longer working lifespan, which means they can run algorithms for extended periods without losing data. This longer lifespan has led to the MIT teams development of high-accuracy gates.

Dr. Ding explained that their novel architecture connects two fluxonium qubits using a system that prevents unwanted background noise, which can introduce errors. This system has shown promise in keeping background interactions to a minimum.

The longer a qubit lives, the higher fidelity the operations it tends to promote, says Dr. Ding. These two numbers are tied together. But it has been unclear, even when fluxonium qubits themselves perform quite well, if you can perform good gates on them.

Drawing an analogy, senior researcher William Oliver, likened working with low-quality qubits to trying to perform a task with a room full of kindergartners.

Thats a lot of chaos, and adding more kindergartners wont make it better, notes Oliver. However, several mature graduate students working together leads to performance that exceeds any one of the individuals thats the threshold concept. While there is still much to do to build an extensible quantum computer, it starts with having high-quality quantum operations that are well above threshold.

Following these positive results, a group from MIT has founded Atlantic Quantum, a startup aiming to use fluxonium qubits to construct a practical quantum computer for commercial use.

These results are immediately applicable and could change the state of the entire field, says Dr. Bharath Kannan, CEO of Atlantic Quantum. This shows the community that there is an alternate path forward. We strongly believe that this architecture, or something like this using fluxonium qubits, shows great promise in terms of actually building a useful, fault-tolerant quantum computer.

Experts in the field, such as Chunqing Deng from Alibabas global research institution, have hailed the MIT teams work as a pivotal milestone.

This work pioneers a new architecture for coupling two fluxonium qubits. The achieved gate fidelities are not only the best on record for fluxonium, but also on par with those of transmons, the currently dominating qubit. More importantly, the architecture also offers a high degree of flexibility in parameter selection, a feature essential for scaling up to a multi-qubit fluxonium processor, says Deng.

For those of us who believe that fluxonium is a fundamentally better qubit than transmon, this work is an exciting and affirming milestone. It will galvanize not just the development of fluxonium processors but also more generally that for qubits alternative to transmons.

The study is published in the journal Physical Review X.

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Quantum computing enters the fluxonium era: Breakthrough sends ... - Study Finds