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...

Better info transfer marks step forward for quantum computing — GCN

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Better info transfer marks step forward for quantum computing By Lance VaughnMay 07, 2021 Quantum science has the potential to revolutionize modern technology with more efficient computers, communication, and sensing devices. But challenges remain in achieving these technological goals, especially when it comes to effectively transferring information in quantum systems. A regular computer consists of billions of transistors, called bits. Quantum computers, on the other hand, are based on quantum bits, also known as qubits, which can be made from a single electron. Unlike ordinary transistors, which can be either “0” (off) or “1” (on), qubits can be both “0” and “1” at the same time. The ability of individual qubits to occupy these so-called superposition states, where they...