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Goldman Sachs moves a step closer to quantum computing

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Goldman Sachs has been working with technology companies to rewrite algorithms so they can run on quantum computers expected to roll out over the next two to four years. Like all big banks, the $1.3 trillion-asset Goldman has teams of math geniuses, also known as quantitative analysts, who create algorithms that do things like calculate risk and price derivatives. Their models consume massive amounts of computing power and still have to be run overnight in some cases. Quantum computing, in theory, could be used to solve complex mathematical problems much faster than traditional computers. IBM says it will have a 1000-qubit quantum computer by 2023. Goldman is not alone in this work. Barclays and JPMorgan Chase have been experimenting with IBM’s quantum computers since...
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Goldman Closer To Quantum With QC Ware

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Share Tweet Share Share Share Email Research from U.S. global banker Goldman Sachs and Silicon Valley quantum computer startup QC Ware indicates that the advanced integration of quantum algorithms could be utilized within five years, the Financial Times reported. Earlier than anticipated, financial markets could start using quantum computing for some of the most complex calculations, per the report. Research into using quantum machines to price complex derivatives — a costly, computing-intensive task for banks — pointed to near-term breakthroughs. The calculations rely on Monte Carlo simulations, a probability model used to evaluate risk and simulate prices for a variety of...
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Optical Fiber Brings Universal Quantum Computing Closer | Research & Technology | Mar 2021

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GAITHERSBURG, Md., March 25, 2021 — Physicists at the National Institute of Standards and Technology (NIST) measured and controlled a superconducting qubit using optical fiber rather than metal electrical wires. The work paves the way to being able to pack a million qubits into a quantum computer rather than just a few thousand and introduces the possibility of a universal quantum computer capable of solving the most difficult equations. Superconducting circuits are a leading technology for making quantum computers because they are reliable and easily mass produced. But these circuits must operate at cryogenic temperatures, and schemes for wiring them to room-temperature electronics are complex and prone to overheating the qubits. Conventional cryostats — supercold dilution refrigerators — with metal wiring can support only thousands of...
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“Quantum Brain” Brings New Era of Computing Closer

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An intelligent material that learns by physically changing itself, similar to how the human brain works, could be the foundation of a completely new generation of computers. Radboud physicists working toward this so-called "quantum brain" have made an important step. They have demonstrated that they can pattern and interconnect a network of single atoms, and mimic the autonomous behaviour of neurons and synapses in a brain. They report their discovery in Nature Nanotechnology on 1 February.Considering the growing global demand for computing capacity, more and more data centres are necessary, all of which leave an ever-expanding energy footprint. 'It is clear that we have to find new strategies to store and process information in an energy efficient way', says project leader Alexander Khajetoorians, Professor of...
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