Goldman Sachs moves a step closer to quantum computing

ibm quantum computer
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...

Exascale Computing Project Moves Needle on Earthquake Risk Assessment

seismograph earthquake shutterstock 1626048043 700x
As part of the US Department of Energy’s Exascale Computing Project (ECP), the Earthquake Simulation (EQSIM) application development team is creating a computational tool set and workflow for earthquake hazard and risk assessment that moves beyond the traditional empirically based techniques which are dependent on historical earthquake data. With software assistance from the ECP’s software technology group, the EQSIM team is working to give scientists and engineers the ability to simulate full end-to-end earthquake processes. This means understanding what takes place from the initiation of fault rupture (i.e., start of an earthquake) to modeling surface ground motions (i.e., earthquake hazard) to providing engineers with precise information that they can use to evaluate infrastructure response and evaluate the risk to people and property....