Several announcements of quantum computing collaborations were made in the past few days. Here is a summary.
Zapata and BBVA Develop New Algorithms to Speed Up Monte Carlo Simulations
Zapata and BBVA have been researching ways to find better quantum algorithms to perform Monte Carlo simulations to calculate Credit Valuation Adjustments (CVA) and derivative pricing. This use case is highly prevalent in the banking industry in order to reduce financial risk and Monte Carlo simulations are the common method used to perform these calculations. Unfortunately, Monte Carlo calculations are also very computationally expensive on classical computers. There have been methods to do this type of analysis on a quantum computer, but the breakthrough in this research is that Zapata and BBVA have developed a new way of implementing the amplitude estimation algorithm that significantly reduces the circuit depth and the number of qubits required. Amplitude estimation is a key step in a quantum Monte Carlo simulation. This results in an overall reduction in computation time by orders of magnitude. More information about this research is available in a news release from Zapata here, a technical paper available here, and an overview video posted on YouTube here.
Seeqc Demonstrates Riverlane’s Deltaflow.OS Operating System on One of their Quantum Chips
Seeqc has created a full-stack, stable quantum system by integrating Riverlane’s Deltaflow.OS operating system with one of their chips. The work was performed by Seeqc’s UK team and supported by a NISQ.OS Innovate UK grant. At this time, characteristics of the system, such as qubit count, qubit fidelities, coherence times, connectivity, software compatibility, etc. has not yet been made public. Seeqc is taking a different approach to quantum from some of the other hardware providers by taking a system-on-a-chip approach that integrates classical electronic control, readout, correction and data processing functions co-located with the qubits with chip-scale technology and running at cryogenic temperatures. They say that this approach minimizes latency which improves the performance and overall runtime of quantum algorithms. Deltaflow.OS is intended to be a universal operating system that can be utilized by many of the quantum computer developers in the UK with funding from the UK government. For more on Deltaflow.OS, see our previous articles that cover it here and here. A press release that describes this integration effort has been issued by Seeqc and is available here.
IBM and Fraunhofer Officially Unveil the New IBM Quantum System One at Fraunhofer
As reported in our article earlier this year, the 27 qubit machine was actually installed a Fraunhofer-Gesellschaft last April. As mentioned in our previous article, this machine is the first IBM quantum system located outside of the United States. This week, the two parties held a formal event with much pomp and circumstance to celebrate the installation that included the presence of Dr. Angela Merkel, Chancellor of German and whose PhD thesis was in quantum chemistry. Perhaps the most interesting point in the event was when Dr. Merkel grilled IBM and Fraunhofer executives about Quantum Volume and the overall competitiveness of the quantum machine. Look at the video of the event at time 25:30 to view this. For additional information, you can also read a press release from Fraunhofer here and blog postings from IBM Research here and from Martin Jetter, Chairman IBM Europe, Middle East & Africa and Chairman of the Supervisory Board at Deutsche Börse Group here.
June 18, 2021