Archive for the ‘Quantum Computing’ Category

Multiverse Computing Releases New Version of Singularity SDK for Portfolio Optimization with Quantum – High-Performance Computing News Analysis -…

SAN SEBASTIN, SPAIN, August 26, 2022 Quantum computing company Multiverse Computing today introduced the newest version of Singularity Portfolio Optimization (v 1.2). This release includes the Multiverse Hybrid Solver, designed to combines the strength of classical and quantum computing and is specifically suited to portfolio optimization problems.

The Multiverse Hybrid Solver can optimize large portfolios of thousands of assets, finding the portfolio with the highest returns for a given risk and producing the same quality of results as industry-standard solvers in a significantly shorter amount of time.

According to John Malcolm, Financial Engineer overseeing Singularity Portfolio Optimization at Multiverse, this new release represents the next step in the ongoing evolution of the Singularity Portfolio Optimization Excel plug-in.

This latest version of Singularity provides a quantum-based solution to a simple case portfolio optimization which is competitive against classical approaches currently used in industry, said Malcolm. Exciting new developments on our roadmap will extend the applicability of this product to cover more exotic cases of portfolio optimization which classical approaches struggle with.

The tool is designed to help portfolio managers find the optimal balance between risk and reward among the range of assets under consideration, while adhering to minimum and maximum allocations per asset according to the investors preferences.

The Singularity Portfolio Optimization Excel plug-in now offers three solvers:

This particular tool from Multiverse Computing is designed for large financial institutions, such as banks, hedge funds, pension funds and insurance companies. The generic optimization library that the Portfolio Optimization app is built on top of has much broader applicability to any sector where optimization is important, such as energy, manufacturing, health and life sciences, aerospace, and more.

The Singularity Portfolio Optimization plug-in can be used to build a portfolio from scratch or to improve an existing one. It is useful for developing medium to long-term strategies or for more frequent performance improvements. The newest interface is more streamlined and allows the user to save optimization settings for convenience.

With this latest release, Singularity users also can:

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Multiverse Computing Releases New Version of Singularity SDK for Portfolio Optimization with Quantum - High-Performance Computing News Analysis -...

Quantum: The Tech Race Europe Can’t Afford to Lose – PR Newswire

PARIS, Aug. 25, 2022 /PRNewswire/ -- Investments in quantum reached all-time record highs in 2021 and are predicted to continue rising significantly, with multiple existing industries set to benefit and new industries likely to be created. Boston Consulting Group (BCG), one of the world's leading management consulting firms, today published new research highlighting the scale and pace of global quantum computing, titled, Can Europe Catch Up With the US (and China) in Quantum Computing?

While the US is a clear frontrunner on quantum computing patents, venture capital, and volume of talent, the BCG report finds that the EU currently leads the way in terms of public investment. However, the EU lacks a coherent plan of action to coordinate individual Member State activities, has an underdeveloped private capital market prepared to invest in late-stage quantum businesses, and is not developing sufficient quantum computing talent to meet anticipated demand. BCG's report highlights that the US currently has between two and three times more quantum talent in the business world than does the EU.

Without urgent action, the report shows, the EU risks repeating mistakes made in the semiconductor industry. Europe, together with the UK and China, is currently well-positioned in a trio of pursuers that are chasing the US (see exhibit). The EU is among leaders in public action in quantum and has put in place plans such as the Quantum Flagship, coordinating research efforts across multiple industries, and running pilot educational projects to give a direction to the developing ecosystem.

So what does the EU need to do to avoid repeating the mistakes it made more than a decade ago in failing to scale a continental semiconductor industry?

"The EU has all the ingredients needed to succeed in the quantum race but needs to rapidly develop and deliver a comprehensive plan to turn potential into action," says Franois Candelon, a managing director and senior partner at BCG, and coauthor of the report. "Europe's history when dealing with tech revolutions has too often been characterized by early promise, failure to scale at critical moments, and then an expensive attempt to catch up. Policymakers need to learn those lessons fast. The good news is that the window is still open to create and execute a European strategy, building public and private capital powerhouses to invest in and scale European universities' ability to train the next generation of quantum experts."

An Action Plan for Europe

BCG's report maps an action plan for Europe to maintain quantum sovereignty:

Quantum Sovereignty

The COVID-19 crisis highlighted Europe's capability to design and manufacture at scale new vaccines that proved essential to controlling the impact of the pandemic on the continent. Conversely, the lack of in-house European manufacturing capabilities for advanced semiconductors showed its dependence on a global supply chain. According to BCG estimates, the chip crisis prevented the production of around 10 million vehicles, which was particularly impactful for Europe, home to major automobile manufacturers.

Quantum will impact multiple industries central to a country's competitiveness and sovereignty such as aerospace, defense, pharma, and chemicals. If Europe wants to maintain its global relevance as well as self-sufficiency in key economic areas, it must ensure access and master quantum capabilities in all stages of the supply chain, from R&D to manufacturing and end applications.

Download the publication here: https://www.bcg.com/publications/2022/can-europe-catch-up-in-quantum-computer-race

For more information, please contact Brian Bannister at +44 7919 393753 or[emailprotected].

About Boston Consulting GroupBoston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

SOURCE Boston Consulting Group (BCG)

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Quantum: The Tech Race Europe Can't Afford to Lose - PR Newswire

Cyber Week in Review: August 26, 2022 – Council on Foreign Relations

Facebook and Twitter take down pro-Western influence campaign

Facebook, Instagram, WhatsApp, Twitter, and Telegram disrupted a pro-Western influence campaign focused on promoting U.S. interests abroad, according to a report from Graphika and the Stanford Internet Observatory. The accounts used in the influence operation targeted the Middle East and Central Asia, frequently criticized Russia over the war in Ukraine, and often shared content from U.S. government-affiliated news outlets such as Voice of America and Radio Free Europe. Some of the accounts appear to be part of the Trans-Regional Web Initiative, a propaganda operation run by U.S. Special Operations Command active for over a decade. The campaign is the first publicly known, U.S.-run influence operation on social media. The campaign does not appear to have been very effective, as most posts received only a handful of likes or retweets, and only 19 percent of accounts had more than one thousand followers.

Ransomware gang attacks UK water organization

The ransomware gang Cl0p said it had infected a major water treatment company, South Staffordshire Water, in the United Kingdom. Cl0p first infected the systems of South Staffordshire on August 15, although there was some initial confusion as the gang believed it had compromised the systems of a larger utility, Thames Water, which serves most of southeast England. Cl0p did not deploy ransomware on the network, citing ethical concerns, but instead stole data and threatened further consequences unless a ransom is paid. The hackers may have gained access to the industrial control systems of South Staffordshire. Attacks on water systems have become increasingly common in recent years, and in some cases these attacks could have caused active harm to civilians.

Lloyds of London Excludes State-Sponsored Cyberattacks from Insurance

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Lloyds of London, a major insurance market in England, announced that it will not allow insurers to cover catastrophic cyberattacks perpetrated by nation-states as of March 31, 2023. Lloyds currently defines a catastrophic cyberattack as an attack that will significantly impair the ability of a state to function or... that significantly impairs the security capabilities of a state. While some have praised the move to greater clarity on what will not be covered, others have noted that that Lloyds standard of catastrophic is vague and that cyberattacks are often difficult to attribute to a specific nation-state conclusively. In recent years, insurance companies have grappled with how to address major cyberattacks, and, in December 2021, Lloyds announced the exclusion of nation-state-led attacks from policies held in a small subset of countries, China, France, Japan, Russia, the United Kingdom and the United States, although it appears this exclusion has not been tested yet.

Former Twitter head of security turns whistleblower

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Twitters former head of security Pieter Zatko, also known as Mudge, filed a whistleblower complaint against the company earlier this week. Zatko made a series of claims about the state of Twitters security, including that Twitter unknowingly employs agents of foreign nations, deleted data may still be accessible, and that the loss of a few key data centers could permanently take down the entire site. Zatko also alleged that Twitters security practices violated an agreement with the Federal Trade Commission that prohibited Twitter from misleading user about its security or privacy practices. Zatko, who developed L0phtCrack in 1997, a password-recovery tool still in use in an updated form today, is well-respected in the cybersecurity community for his work over the past three decades. Zatkos disclosures will likely affect the court case between Twitter and Elon Musk over whether the tech entrepreneur can back out of his bid to buy the company without significant penalty, although experts are divided as to whether Zatkos disclosures will help or hurt Twitter.

Baidu unveils first quantum computer

Chinese internet company Baidu announced it had built its first quantum computer on Thursday this week. The computer, dubbed Qianshi, has a ten qubit processor, significantly behind Googles Sycamore at fifty four qubits, and Zuchongzi from the University of Science and Technology of China at sixty six qubits. Baidu said that it had also developed a thirty six qubit processor, although it appears that processor has not been used yet. Quantum computing has been a major research focus for China, the United States, and European Union in recent years, as each country has poured billions of dollars into research on quantum computing. The Biden administration recently announced a series of initiatives aimed at growing quantum research in the United States.

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Cyber Week in Review: August 26, 2022 - Council on Foreign Relations

Quantum Computing Is Even More Dangerous Than Artificial Intelligence – Foreign Policy

Todays artificial intelligence is as self-aware as a paper clip. Despite the hypesuch as a Google engineers bizarre claim that his companys AI system had come to life and Tesla CEO Elon Musks tweet predicting that computers will have human intelligence by 2029the technology still fails at simple everyday tasks. That includes driving vehicles, especially when confronted by unexpected circumstances that require even the tiniest shred of human intuition or thinking.

The sensationalism surrounding AI is not surprising, considering that Musk himself had warned that the technology could become humanitys biggest existential threat if governments dont regulate it. But whether or not computers ever attain human-like intelligence, the world has already summoned a different, equally destructive AI demon: Precisely because todays AI is little more than a brute, unintelligent system for automating decisions using algorithms and other technologies that crunch superhuman amounts of data, its widespread use by governments and companies to surveil public spaces, monitor social media, create deepfakes, and unleash autonomous lethal weapons has become dangerous to humanity.

Compounding the danger is the lack of any AI regulation. Instead, unaccountable technology conglomerates, such as Google and Meta, have assumed the roles of judge and jury in all things AI. They are silencing dissenting voices, including their own engineers who warn of the dangers.

Todays artificial intelligence is as self-aware as a paper clip. Despite the hypesuch as a Google engineers bizarre claim that his companys AI system had come to life and Tesla CEO Elon Musks tweet predicting that computers will have human intelligence by 2029the technology still fails at simple everyday tasks. That includes driving vehicles, especially when confronted by unexpected circumstances that require even the tiniest shred of human intuition or thinking.

The sensationalism surrounding AI is not surprising, considering that Musk himself had warned that the technology could become humanitys biggest existential threat if governments dont regulate it. But whether or not computers ever attain human-like intelligence, the world has already summoned a different, equally destructive AI demon: Precisely because todays AI is little more than a brute, unintelligent system for automating decisions using algorithms and other technologies that crunch superhuman amounts of data, its widespread use by governments and companies to surveil public spaces, monitor social media, create deepfakes, and unleash autonomous lethal weapons has become dangerous to humanity.

Compounding the danger is the lack of any AI regulation. Instead, unaccountable technology conglomerates, such as Google and Meta, have assumed the roles of judge and jury in all things AI. They are silencing dissenting voices, including their own engineers who warn of the dangers.

The worlds failure to rein in the demon of AIor rather, the crude technologies masquerading as suchshould serve to be a profound warning. There is an even more powerful emerging technology with the potential to wreak havoc, especially if it is combined with AI: quantum computing. We urgently need to understand this technologys potential impact, regulate it, and prevent it from getting into the wrong hands before it is too late. The world must not repeat the mistakes it made by refusing to regulate AI.

Although still in its infancy, quantum computing operates on a very different basis from todays semiconductor-based computers. If the various projects being pursued around the world succeed, these machines will be immensely powerful, performing tasks in seconds that would takeconventional computersmillions of years to conduct.

Semiconductors represent information as a series of 1s and 0sthats why we call it digital technology. Quantum computers, on the other hand, use a unit of computing called a qubit. A qubit can hold values of 1 and 0 simultaneously by incorporating a counterintuitive property in quantum physics called superposition. (If you find this confusing, youre in good companyit can be hard to grasp even for experienced engineers.) Thus, two qubits could represent the sequences 1-0, 1-1, 0-1, and 0-0, all in parallel and all at the same instant. That allows a vast increase in computing power, which grows exponentially with each additional qubit.

If quantum physics leaves the experimental stage and makes it into everyday applications, it will find many uses and change many aspects of life. With their power to quickly crunch immense amounts of data that would overwhelm any of todays systems, quantum computers could potentially enable better weather forecasting, financial analysis, logistics planning, space research, and drug discovery. Some actors will very likely use them for nefarious purposes, compromising bank records, private communications, and passwords on every digital computer in the world. Todays cryptography encodes data in large combinations of numbers that are impossible to crack within a reasonable time using classic digital technology. But quantum computerstaking advantage of quantum mechanical phenomena, such as superposition, entanglement, and uncertaintymay potentially be able to try out combinations so rapidly that they could crack encryptions by brute force almost instantaneously.

To be clear, quantum computing is still in an embryonic stagethough where, exactly, we can only guess. Because of the technologys immense potential power and revolutionary applications, quantum computing projects are likely part of defense and other government research already. This kind of research is shrouded in secrecy, and there are a lot of claims and speculation about milestones being reached. China, France, Russia, Germany, the Netherlands, Britain, Canada, and India are known to be pursuing projects. In the United States, contenders include IBM, Google, Intel, and Microsoft as well as various start-ups, defense contractors, and universities.

Despite the lack of publicity, there have been credible demonstrations of some basic applications, including quantum sensors able to detect and measure electromagnetic signals. One such sensor was used to precisely measure Earths magnetic field from the International Space Station.

In another experiment, Dutch researchers teleported quantum information across a rudimentary quantum communication network. Instead of using conventional optical fibers, the scientists used three small quantum processors to instantly transfer quantum bits from a sender to a receiver. These experiments havent shown practical applications yet, but they could lay the groundwork for a future quantum internet, where quantum data can be securely transported across a network of quantum computers faster than the speed of light. So far, thats only been possible in the realm of science fiction.

The Biden administration considers the risk of losing the quantum computing race imminent and dire enough that it issued two presidential directives in May: one to place theNational Quantum Initiativeadvisory committee directly under the authority of the White House and another to direct government agencies to ensure U.S. leadership in quantum computing while mitigating the potential security risks quantum computing poses to cryptographic systems.

Experiments are also working to combine quantum computing with AI to transcend traditional computers limits. Today, large machine-learning models take months to train on digital computers because of the vast number of calculations that must be performedOpenAIs GPT-3, for example, has 175 billion parameters. When these models grow into the trillions of parametersa requirement for todays dumb AI to become smartthey will take even longer to train. Quantum computers could greatly accelerate this process while also using less energy and space. In March 2020, Google launched TensorFlow Quantum, one of the first quantum-AI hybrid platforms that takes the search for patterns and anomalies in huge amounts of data to the next level.Combined with quantum computing, AI could, in theory, lead to even more revolutionary outcomes than the AI sentience that critics have been warning about.

Given the potential scope and capabilities of quantum technology, it is absolutely crucial not to repeat the mistakes made with AIwhere regulatory failure has given the world algorithmic bias that hypercharges human prejudices, social media that favors conspiracy theories, and attacks on the institutions of democracy fueled by AI-generated fake news and social media posts. The dangers lie in the machines ability to make decisions autonomously, with flaws in the computer code resulting in unanticipated, often detrimental, outcomes. In 2021, the quantum community issued a call for action to urgently address these concerns. In addition, critical public and private intellectual property on quantum-enabling technologies must be protected from theft and abuse by the United States adversaries.

There are national defense issues involved as well. In security technology circles, the holy grail is whats called a cryptanalytically relevant quantum computera system capable of breaking much of the public-key cryptography that digital systems around the world use, which would enable blockchain cracking, for example. Thats a very dangerous capability to have in the hands of an adversarial regime.

Experts warn that China appears to have a lead in various areas of quantum technology, such as quantum networks and quantum processors. Two of the worlds most powerful quantum computers were built in China, and as far back as 2017, scientists at the University of Science and Technology of China in Hefei built the worlds first quantum communication network using advanced satellites. To be sure, these publicly disclosed projects are scientific machines to prove the concept, with relatively little bearing on the future viability of quantum computing. However, knowing that all governments are pursuing the technology simply to prevent an adversary from being first, these Chinese successes could well indicate an advantage over the United States and the rest of the West.

Beyond accelerating research, targeted controls on developers, users, and exports should therefore be implemented without delay. Patents, trade secrets, and related intellectual property rights should be tightly secureda return to the kind of technology control that was a major element of security policy during the Cold War. The revolutionary potential of quantum computing raises the risks associated with intellectual property theft by China and other countries to a new level.

Finally, to avoid the ethical problems that went so horribly wrong with AI and machine learning, democratic nations need to institute controls that both correspond to the power of the technology as well as respect democratic values, human rights, and fundamental freedoms. Governments must urgently begin to think about regulations, standards, and responsible usesand learn from the way countries handled or mishandled other revolutionary technologies, including AI, nanotechnology, biotechnology, semiconductors, and nuclear fission. The United States and other democratic nations must not make the same mistake they made with AIand prepare for tomorrows quantum era today.

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Quantum Computing Is Even More Dangerous Than Artificial Intelligence - Foreign Policy

Multiverse and BASF Partner to Research Quantum Use for Foreign Exchange Optimization – Quantum Computing Report

Multiverse and BASF Partner to Research Quantum Use for Foreign Exchange Optimization

At first glance you might wonder why BASF, a large chemical company, would be working with Multiverse Computing to use quantum computing for a financial problem. But on closer look, you would see that BASF is a giant company with 2021 revenues of 78.6billion ($78.2B USD) and operates in over 190 countries. So they need to convert currencies in their operations all the time and even small improvements in the exchange rates that they can achieve could be worth a lot of money. The team started a small 9 month research effort in January 2022 that focused only on the trading between Euros and U.S. dollars. It will be completed shortly and the team will issue a final technical report. Presumably, if this first trial is a success the companies will move on to subsequent phases that may incorporate more currencies or more complicated scenarios. For more about this project, you can read a press release issued by Multiverse that you can access here.

August 23, 2022

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Multiverse and BASF Partner to Research Quantum Use for Foreign Exchange Optimization - Quantum Computing Report