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Christian Weedbrook, founder of the quantum technologies company, Xanadu, listens in as Varun Vaidya, left, discusses the working principle of one of the building blocks of quantum computers, at their office in Toronto on June 20, 2019.

Tijana Martin/The Globe and Mail

Toronto startup Xanadu Quantum Technologies Inc. has raised US$100-million led by U.S. venture capital giant Bessemer Venture Partners as competition intensifies to bring quantum computers to market.

The financing, first reported by The Globe and Mail this month, is also backed by Canadian billionaire Jeff Skolls Capricorn Investment Group and U.S. investment giant Tiger Global and past investors Georgian, OMERS Ventures and U.S. venture capitalist Tim Draper. The funding values Xanadu at US$400-million post-transaction.

Notably, BDC Capital and In-Q-Tel, the U.S. Central Intelligence Agencys venture arm, also backed the deal. Both have invested in Burnaby, B.C.-based D-Wave Systems, which sold the first commercially available quantum machines. Despite 20 years of development and US$300-million of funds raised, D-Wave has struggled to commercialize its technology; last year it stopped efforts to sell hardware to focus on offering online access to its machines and completed a refinancing that wiped out most of the value of some investors.

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D-Waves technology is Quantum 1.0 and the rest of us are Quantum 2.0, Xanadu chief executive Christian Weedbrook said in an interview. I think there has been somewhat of a passing of the torch.

With the financing, Xanadu cements its status as one of the leading upstart companies in the global race to develop the worlds most powerful computers by harnessing the power of subatomic particles to perform calculations that would take current supercomputers millenniums to run. Industry players believe quantum computers could eventually offer powerful new ways to help with drug discovery, materials science, financial risk modelling and other applications.

Xanadu, alongside U.S. startups PsiQuantum Ltd., IonQ Inc. and Honeywell International Inc., are bringing newer approaches to a field that also includes global giants Microsoft, Google, Intel and IBM.

D-Wave and many rivals, including IBM, are developing machines that contain quantum chips that must be cooled to temperatures colder than deep space to function.

Xanadu and PsiQuantum are trying to draw their computing power from light. Xanadu uses a process called squeezing light by firing lasers that enable light particles to generate quantum effects on thumbnail-sized chips. IonQ and Honeywell, by contrast, are developing trapped ion technology that would draw power by creating charged ions from a rare-earth metal.

Xanadus method, based on Mr. Weedbrooks PhD thesis at Australias University of Queensland, happens at room temperature, and he believes with further development he can cut out supercooling, which is still required for a part of the process, altogether.

Without supercooling an elaborate undertaking Mr. Weedbrook says Xanadu can develop machines quicker and cheaper than other quantum computers and eventually shrink its chips enough that they could fit in small devices. By contrast, D-Waves computers are housed in shed-sized boxes.

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Mr. Weedbrook said Xanadu has managed to increase the number of qubits which replace the 1 and 0 bits of conventional computing and can simultaneously hold a mix of values and interact with each other in complex ways tenfold to 40 per chip in the past two years. He said Xanadus goal is to increase the number of qubits used to power its computers to one million. Thats where you can start solving a customers problems and start making an impact, he said.

The company wouldnt do that on a single chip, but by networking together many chips through fibre optics within new quantum data centres Xanadu hopes to eventually build. As with cloud computing, users would be able to access the technology over the internet to do their complex calculations. By distributing computing power across many chips, Mr. Weedbroook believes the company can correct for errors generated by the quantum computing process that experts have long identified as a major hurdle for developers.

Quantum computing is still early in its development. Some skeptics believe it will take many years and billions of dollars to develop functional, commercially successful machines that live up to their hype. If [Xanadus] invention becomes a reality, its the most important company in the country, Michael Hyatt, a Toronto tech entrepreneur and Xanadu investor, said.

For now, Xanadu is offering a handful of clients online access to its early machines and has created open-source software tools for developers to work with quantum computers. It is also designing and selling quantum computing hardware to universities, government labs and corporate customers to help fund its development. Mr. Weedbrook estimated the company was five years away from reaching a significant commercial scale. Our investors know [our technology] can really change the world and they take a long-term view.

Bessemer partner David Cowan, whose firm has also backed quantum computing startup Rigetti Computing, said in a statement, Xanadu impressed us as the leading contender to develop the first commercially valuable, photonic quantum computer. BVP is betting that in this decade quantum computers like Xanadus will make the conventional supercomputer look like an antiquated abacus.

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'Passing of torch' in quantum computing race as Toronto's Xanadu raises $100-million from Bessemer, CIA, Jeff Skoll - The Globe and Mail

A former White House cybersecurity coordinator told last weeks RSA Security conference that ransomware has gone from being an economic nuisance to becoming a scourge that must be fought by governments worldwide.

The conference took place against the backdrop of a cybersecurity industry increasingly challenged by attacks, many of them driven by ransomware.

Michael Daniel, chief executive of the Cyber Threat Alliance, told a panel that ransomware has evolved from economic nuisance eight years ago to a national security and public health and safety threat today.

He argued that it would require significant action to reduce the value that criminals got out of ransomware.

According to a March 2021 ransomware threat report by Palo Alto Networks, the average amount demanded by ransomware gangs doubled in 2020. The average ransom paid tripled in the last year to over $300,000.

The panel was recorded before details of the recent Colonial Pipeline ransomware attack emerged, so it could not discuss the lessons learned. As the conference was taking place, it emerged that Colonials chief executive Joseph Blount had transferred 75 bitcoin around $4.4m to the attackers because he was unsure of the attacks extent or Colonials prospects for recovery.

Alongside concerns about ransomware, the future impact of quantum computing and the lessons from the SolarWinds attack were also among the critical issues discussed during the RSA conference.

The ongoing development of quantum computing has been described as threatening the encryption algorithms that currently protect data, from online banking records to personal documents on hard drives.

Prominent members of a cryptographers panel at the conference played down quantum computings potential impact. Ron Rivest, one of the inventors of the RSA algorithm, described it as astonishing to me how much energy is going into the commercialization of technology that doesnt yet exist.

Rivest added that the number of start-ups involved in quantum computing meant that the amount of money being invested in the technology is incredible.

I think the two major questions are, Can you build a quantum computer at scale that will last long enough to do it a useful computation? and Are there useful applications for this technology, even if you could build it? And I think the answers so far are not clear and maybe.

In a separate session, SolarWinds chief executive Sudhakar Ramakrishna said the companys ongoing investigation into last years cyber breach found that the nation-state group behind it began probing SolarWinds network as early as January 2019.

Previously, it was widely believed that attackers first gained access to SolarWinds systems in October 2019. The breach, which impacted 100 companies and nine government agencies, remained undetected until December 2020, nearly two full years after the initial malicious activity.

What the RSA conference confirmed is that hackers remain several steps ahead of the cybersecurity industry. Ransomware attacks are increasing precisely because attacked companies like Colonial Pipeline will pay to keep their operations running. In the absence of effective government and industry action to thwart the attackers, theyll probably keep on paying.Related Report Download the full report from GlobalData's Report StoreGet the Report

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RSA conference highlights 'scourge' of ransomware and takes aim at quantum computing - Verdict

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

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

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

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

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

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

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

This phase is also characterised by increased industry participation.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

IBM and The Grainger College of Engineering at the University of Illinois Urbana-Champaign plan to launch a large-scale collaboration designed to increase access to technology education and skill development, and to combine the strengths of academia and the industrial sector to spur breakthroughs in emerging areas of technology. Specifically, the planned collaboration will focus on the rapidly growing areas of hybrid cloud and AI, quantum information science and technology, accelerated materials discovery, and sustainability to accelerate the discovery of solutions to complex global challenges.

This planned collaboration will be centered in the creation of the new IBM-Illinois Discovery Accelerator Institute, housed within The Grainger College of Engineering at the University of Illinois Urbana-Champaign (UIUC). It will be funded by a ten-year planned research investment from IBM and UIUC, complemented by a major new building project which will house research activities in quantum information, high-performance computing, hybrid cloud and networked environments with support from the State of Illinois, bringing total investments to more than $200 million. The newly planned Discovery Accelerator Institute will feature deep collaborations to develop communities of discovery across IBM, Grainger Engineering and the UIUC campus; research funding for UIUC in hybrid cloud, quantum information, materials, and sustainability; hiring of additional faculty and talent at UIUC; and a new facility for research in computing and quantum technologies at UIUC.

The IBM-University of Illinois collaboration is a tremendous development for our state and a testament to Illinois leadership as a hub of quantum research and artificial intelligence development, said Illinois Governor J.B. Pritzker. This IBM investment will not only lift up a world class educational institution, but also will invite national and international scientists, entrepreneurs, businesses, and innovators to Illinois. Our state has made nation-leading commitments by investing $200 million to support groundbreaking work at the Chicago Quantum Exchange, as well as $500 million for the Discovery Partners Institute and the Illinois Innovation Network. Following that, the federal government awarded our state more than $200 million in grants for two National Quantum Information Science Research Centers, along with two National Science Foundation artificial intelligence grants. The IBM Institute cements The Grainger College of Engineering and the entire University of Illinois system at the forefront of technological advancements in quantum computing, AI, and hybrid cloud, and it sets our state up to become a serious technology industry leader on the international stage. I am thrilled to welcome IBM to Illinois.

The planned Institute will emphasize initiatives to increase access to STEM education and high-tech workforce development, as well as expand the collective research capacity of IBM and UIUC by tapping into the intellectual talent of students, faculty and industry researchers campus-wide. Together, these teams will tackle the urgent complex challenges faced by industry and academia, including the need for a more secure and flexible artificial intelligence-driven global cloud infrastructure, advancing the frontiers of quantum computing and technologies, applying technology to the discovery and creation of new materials, and engineering solutions for sustainability and the environment.

When launched, the Discovery Accelerator Institute will serve as a leading model for collaboration between the private sector and academia. It will facilitate connected and interactive research, weaving together the strong scientific foundation of an academic institution and the real-world translational expertise of a large industrial research organization.

In the planned Discovery Accelerator Institute, IBM Research teams and University of Illinois faculty and students will work side-by-side on projects to accelerate:

I couldnt be more excited about the new model of partnership we are building with the University of Illinois-Urbana Champaign, said Arvind Krishna, CEO of IBM. The Discovery Accelerator Institute will help drive innovations in hybrid cloud, AI and quantum computing, which are critical for the future of business and society. Were bringing together some of the brightest minds across both the industry and academia. Im eager to see the groundbreaking research and solutions the teams will pioneer from the discovery of new materials to carbon capture.

This institute with IBM is a pioneering new model of how we can build academic and researcher collaboration into technology and innovation at unmatched excellence and scale, said Robert J. Jones, chancellor of the University of Illinois Urbana-Champaign. What excites us the most is imagining the exponentially expanded possibilities in these new emerging fields that will define the 21st century.

In addition to advancing technology research, the Discovery Accelerator Institute, IBM and UIUC will aim to drive job creation, industrial sector growth and new economic growth for the State of Illinois. The Institute aligns with the goals of the Illinois Innovation Network, including the Discovery Partners Institute of the UI System, and the mission of P33, to further seed and expand workforce development and diversity for future science and information technology opportunities across the state. Additionally, IBM and the U of I intend to fuel and broaden a more diverse talent and leadership pipeline for the growing hybrid cloud, AI, quantum information, materials discovery, and sustainability ecosystems.

This new collaboration builds on the foundational success of the IBM-Illinois Center for Cognitive Computing Systems Research (C3SR) since 2016. Building on that success, new collaborations between IBM researchers and Illinois faculty will allow for faster translation of bleeding-edge innovation to society, said Rashid Bashir, dean of The Grainger College of Engineering. We are thrilled to be enhancing our shared vision of advancing hybrid cloud, quantum, materials, sustainability and the future of discovery itself with IBM.

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IBM and the University of Illinois Plan to Launch New Discovery Accelerator Institute Homeland Security Today - HSToday

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

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

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

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

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

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

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

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

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

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

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

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Top 10 Trends Influencing Digital Transformation in 2021 - Analytics Insight