A BBVA and Zapata Computing study shows the potential of quantum computing for derivative calculations

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Monte Carlo simulations are widely used in the financial industry in everything, from policy making and risk assessment processes to financial product pricing calculations. “We wanted to understand whether quantum computing could help us improve how we approached these calculations, starting with a very specific problem that can be solved using Monte Carlo, such as the calculation of credit valuation adjustments”, said Andrea Cadarso. This project – led by Cadarso, head of Quantitative & Business Solutions, BBVA Mexico – is one of the research initiatives launched by the Research & Patents area of BBVA in 2019 to explore the potential applications of quantum computing in the financial sector. As of today, establishing the valuation and pricing of certain derivative products remains a daunting task: “Finding the right price of...

Computing hubs to boost digital strides

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Integrated grids across nation key to development of new tech and industries China will set up integrated computing network hubs across the nation to further boost the digital economy and provide new impetus for the sector's development, the nation's top economic regulator said on Wednesday. "Data center computing equipment will be key accelerators for the development of new technologies and industries such as artificial intelligence, big data and blockchain, and help fuel digital transformation and high-quality development," said Shen Zhulin, director of the Department of High-Tech Industry of the National Development and Reform Commission. "The national computing network will boost the free flow of data and smoothen economic circulation, with the hubs also playing a key role as the new drivers of economic growth and...

Edge computing is coming, and businesses aren’t ready

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Almost three-quarters (72%) of IT leaders are already using edge computing to provide innovative services, according to Intel.   Klaus Vedfelt / Getty Images From ultra-connected autonomous cars to low-latency AR, VR and gaming: to remain competitive in the digital age, businesses will have little choice but to fully embrace the new opportunities that come with the deployment of edge computing, according to a new report published by Intel. Almost three-quarters (72%) of IT leaders are already using edge computing to provide innovative services, according to the chip giant, whether that is to create new products, open new revenue streams or boost efficiencies.  "Businesses can no longer afford to ignore the edge," says the report, stressing the...

Quantum Computing: Assessing the Risks

Quantum Computing Assessing the Risks
Encryption & Key Management , Next-Generation Technologies & Secure Development , Security Operations William Dixon of World Economic Forum on Improving Infrastructure Anna Delaney (annamadeline) • May 26, 2021     William Dixon, head of future networks and technology,...

Edge computing integral to unlocking future biz innovations: Intel report

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Businesses are realizing that edge computing is integral to driving operational efficiencies and unlocking future innovations, according to an Intel report that provides insight into the now, new and next of edge computing across key industries. Edge computing is a distributed IT architecture where computing (collecting, storing, processing and analysing data) takes place at or near the data source. This improves bandwidth availability, insights, response time and ultimately customer experience. In the COVID-19 era, unprecedented volumes of critical business data is being generated but many organizations are facing very real data processing challenges. As per the Intel report, 76% stated that identifying "the ideal location" for data processing is a challenge. Edge computing can play a major role in addressing these challenges,...

Who is leading the 5G patent race for edge computing?

In the future, half of the world’s data volume will no longer be generated by or between people but by vehicles, sensors, or other various types of networked devices, according to some predictions. Not only the number of devices but also the volume of data continues to increase dramatically. Telecom equipment supplier Ericsson estimates that global data traffic will increase fivefold to 136 exabytes per month within the next five years, compared to today. The expectation is that a typical end user will generate up to 1.5 gigabytes of data per day, and a vehicle with up to 4 terabytes even several times that amount.The 3GPP (3rd Generation Partnership Project), the organisation responsible for cellular standards development, already had these new requirements in mind when it defined the fifth-generation mobile network 5G. At its core, 5G was...

For responsible computing, you need responsible CTOs

Rashik Parmar IBM Think 2021
Recently, the role of chief technology officers made a resurgence in several companies, especially those more involved in technology. A CTO is responsible for overseeing the tech and engineering departments, as well as looking toward the future to decide what features need to be implemented to prepare and adapt to a tech-heavy economy. Being a responsible and forward-thinking CTO is just as important as being a tech-savyy one if a company wants to succeed in the digitized climate, according to Rashik Parmar (pictured), IBM fellow and vice president of technology of EMEA at IBM. “They recognize that this journey is very complex and the pandemic has created tremendous challenges,” Parmar said. “The market dynamics mean that they’ve got to try and really be thoughtful in taking cost out and making sure they survive some of these...

Samsung re-envisioning the future of edge computing for ‘intelligent human edge’ 

KC Choi IBM Think 2021
As the pandemic has shown, edge computing is setting the trend for what’s going to be the preferred technological architecture for the next few decades. On the forefront of re-envisioning what edge computing can do for the future is Samsung Electronics Co. Ltd., a powerhouse consumer electronics company. “Over a year with the COVID pandemic, that’s actually accelerated a lot of the thinking around the edge,” said K.C. Choi (pictured), corporate executive vice president and head of group with the global mobile B2B team at Samsung. “We’ve seen the edge … start be more extreme, in the sense that it’s pushing further and further out beyond what we originally envisioned the edge to be. We’re really re-envisioning what the edge is. ” Choi spoke with John Furrier, host of theCUBE, SiliconANGLE Media’s livestreaming studio, during...

‘Passing of torch’ in quantum computing race as Toronto’s Xanadu raises $100-million from Bessemer, CIA, Jeff Skoll

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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 Skoll’s 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...

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...