To run its test, BBVA worked with the Quantum Computing team of the digital transformation company VASS and AWS, using Qiskit software to distribute the execution of quantum algorithms across multiple classical compute servers located in the AWS cloud, and created a platform to automate and streamline the distribution process.

With this distributed quantum simulation, one of the first of its kind in the financial sector, BBVA was able to run quantum algorithms scaling up to a total computing power of 38 qubits, a scale that is difficult to reach with the use of a single classical computer. The higher the number of qubits, the more complex the problems the system can tackle.

BBVA is a founding member of the Quantum Safe Financial Forum (QSFF), a safe space for collaboration between European and US financial firms promoted by Europols European Cybercrime Centre (EC3). The alliance aims to foster the creation of new technological systems within the financial industry that are safe, secure and resilient to malicious attacks that rely on quantum computing.

The trial also served to demonstrate that classical computers can be used to test quantum algorithms at scale and in an ideal computing environment. Quantum computing is an emerging technology and todays hardware is highly susceptible to noise. Running large-scale simulations allows BBVA to explore potential applications in a noise-free environment, with the potential to bring these applications to larger, more fault-tolerant quantum hardware as it matures.

The results were exactly what we expect to obtain in a fault-tolerant quantum computer, said Javier Recuenco Andrs, head of the Technical Architecture Innovation area at BBVA CIB in charge of the pilot project. With these trials, we have shown that at BBVA we can have a proprietary architecture for executing quantum algorithms, which would help further our exploration of their use in complex financial tasks.

At BBVA we explore the potential of quantum computing for two main reasons: to try to find better solutions to business problems and to strengthen the security of our communications and data to counteract the malicious use of quantum computing by third parties, explained Escolstico Snchez, leader of the Quantum discipline at BBVA. The distributed quantum simulation pilot we have successfully completed is a further step in this exploration, which could enable different business units of the bank to leverage this technology.

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BBVA runs successful trial of distributed quantum simulation in the cloud - BBVA

The memory map of the implementation, as set within the address space of the Commodore 64 about 15kB of the accessible 64kB RAM is used.

Theres been a lot of fuss about the quantum advantage that would arise from the use of quantum processors and quantum systems in general. Yet in this high-noise, high-uncertainty era of quantum computing it seems fair to say that the advantage part is a bit of a stretch. Most recently an anonymous paper (PDF, starts at page 199) takes IBMs claims with its 127-bit Eagle quantum processor to its ludicrous conclusion by running the same Trotterized Ising model on the ~1 MHz MOS 6510 processor in a Commodore 64. (Worth noting: this paper was submitted to Sigbovik, the conference of the Association for Computational Heresy.)

We previously covered the same claims by IBM already getting walloped by another group of researchers (Tindall et al., 2024) using a tensor network on a classical computer. The anonymous submitter of the Sigbovik paper based their experiment on a January 2024 research paper by [Tomislav Begui] and colleagues as published in Science Advances. These researchers also used a classical tensor network to run the IBM experiment many times faster and more accurately, which the anonymous researcher(s) took as the basis for a version that runs on the C64 in a mere 15 kB of RAM, with the code put on an Atmel AT28C256 ROM inside a cartridge which the C64 then ran from.

The same sparse Pauli dynamics algorithm was used as by [Tomislav Begui] et al., with some limitations due to the limited amount of RAM, implementing it in 6502 assembly. Although the C64 is ~300,000x slower per datapoint than a modern laptop, it does this much more efficiently than the quantum processor, and without the high error rate. Yes, that means that a compute cluster of Commodore 64s can likely outperform a please call us for a quote quantum system depending on which linear algebra problem youre trying to solve. Quantum computers may yet have their application, but this isnt it, yet.

Thanks to [Stephen Walters] and [Pio] for the tip.

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Trolling IBM's Quantum Processor Advantage With A Commodore 64 - Hackaday

Every few decades, the world witnesses technological revolutions that profoundly change our lives. This happened when we first invented computers, when we created the Internet and most recently when artificial intelligence (AI) emerged.

Today, experts frequently speculate that the next revolution will involve technologies grounded in the principles of quantum mechanics. One such technology is quantum computing. Harnessing the unique properties of quantum mechanics, quantum computers promise to achieve superior computational power, solving certain tasks that are beyond the reach of classical computers.

Quantum computers can potentially transform many sectors, from defense and finance to education, logistics and medicine. However, we are currently in a quantum age reminiscent of the pre-silicon era of classical computers. Back then, state-of-the-art computers like ENIAC ran on vacuum tubes, which were large, clunky, and required a lot of power. During the 1950s, experts investigated various platforms to develop the most efficient and effective computing systems. This journey eventually led to the widespread adoption of silicon semiconductors, which we still use today.

Similarly, todays quantum quest involves evaluating different potential platforms to produce what the industry commonly calls a fault-tolerant quantum computer quantum computers that are able to perform reliable operations despite the presence of errors in their hardware.

Tech giants, including Google and IBM, are adapting superconductors materials that have zero resistance to electrical current to build their quantum computers, claiming that they might be able to build a reasonably large quantum computer by 2030. Other companies and startups dedicated to quantum computing, such as QuEra, PsiQuantum and Alice & Bob, are experimenting with other platforms and even occasionally declaring that they might be able to build one before 2030.

Until the so-called fault-tolerant quantum computer is built, the industry needs to go through an era commonly referred to as the Noisy Intermedia-Scale Quantum (NISQ) era. NISQ quantum devices contain a few hundred quantum bits (qubits) and are typically prone to errors due to various quantum phenomena.

NISQ devices serve as early prototypes of fault-tolerant quantum computers and showcase their potential. However, they are not expected to clearly demonstrate practical advantages, such as solving large scale optimization problems or simulating sufficiently complex chemical molecules.

Researchers attribute the difficulty of building such devices to the significant amount of errors (or noise) NISQ devices suffer from. Nevertheless, this is not surprising. The basic computational units of quantum computers, the qubits, are highly sensitive quantum particles easily influenced by their environment. This is why one way to build a quantum computer is to cool these machines to near zero kelvin a temperature colder than outer space. This reduces the interaction between qubits and the surrounding environment, thus producing less noise.

Another approach is to accept that such levels of noise are inevitable and instead focus on mitigating, suppressing or correcting any errors produced by such noise. This constitutes a substantial area of research that must advance significantly if we are to facilitate the construction of fault-tolerant quantum computers.

As the construction of quantum devices progresses, research advances rapidly to explore potential applications, not just for future fault-tolerant computers, but also possibly for todays NISQ devices. Recent advances show promising results in specialized applications, such as optimization, artificial intelligence and simulation.

Many speculate that the first practical quantum computer may appear in the field of optimization. Theoretical demonstrations have shown that quantum computers will be capable of solving optimization problems more efficiently than classical computers. Performing optimization tasks efficiently could have a profound impact on a broad range of problems. This is especially the case where the search for an optimized solution would usually require an astronomical number of trials.

Examples of such optimization problems are almost countless and can be found in major sectors such as finance (portfolio optimization and credit risk analysis), logistics (route optimization and supply chain optimization) and aviation (flight gate optimization and flight path optimization).

AI is another field in which experts anticipate quantum computers will make significant advances. By leveraging quantum phenomena, such as superposition, entanglement and interference which have no counterparts in classical computing quantum computers may offer advantages in training and optimizing machine learning models.

However, we still do not have concrete evidence supporting such claimed advantages as this would necessitate larger quantum devices, which we do not have today. That said, early indications of these potential advantages are rapidly emerging within the research community.

Simulating quantum systems was the original application that motivated the idea of building quantum computers. Efficient simulations will likely drastically impact many essential applications, such as material science (finding new material with superior properties, like for better batteries) and drug discovery (development of new drugs by more accurately simulating quantum interactions between molecules).

Unfortunately, with the current NISQ devices, only simple molecules can be simulated. More complex molecules will need to wait for the advent of large fault-tolerant computers.

There is uncertainty surrounding the timeline and applications of quantum computers, but we should remember that the killer application for classical computers was not even remotely envisioned by their inventors. A killer application is the single application that contributed the most to the widespread use of a certain technology. For classical computers, the killer application, surprisingly, turned out to be spreadsheets.

For quantum computers, speculation often centers around simulation and optimization being the potential killer applications of this technology, but a definite winner is still far from certain. In fact, the quantum killer application may be something entirely unknown to us at this time and it may even arise from completely uncharted territories.

[Will Sherriff edited this piece.]

The views expressed in this article are the authors own and do not necessarily reflect Fair Observers editorial policy.

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Quantum Computing Could be the Next Revolution - Fair Observer

Federal cybersecurity officials are preparing for a quantum computing surprise that requires the largest change in encryption ever to safeguard Americans data from foreign hackers.

The Cybersecurity and Infrastructure Security Agencys Garfield Jones said Tuesday that the emergence of a cryptanalytically relevant quantum computer will upend digital security in unprecedented ways and that people need to prepare immediately.

Such a device, dubbed CRQC, would be capable of breaking encryption to expose government secrets and peoples personal information to anyone who uses the machine, according to cyber officials.

Nations will rush to develop the tech and keep it hidden from public view in order to steal their enemies data while upending information security in the process, according to Mr. Jones, CISA associate chief of strategic technology.

When it drops, its not going to be, I dont think its going to be a slow drop, Mr. Jones told cyber officials assembled at the U.S. General Services Administration. I think once someone gets this CRQC, none of us will know.

Quantum computers promise speeds and efficiency that todays fastest supercomputers cannot match, according to the National Science Foundation. Classical computers have more commercial value now because quantum computers have not yet proven capable of correcting errors involving encoded data.

A cryptanalytically relevant quantum computer, the CRQC, will be capable of correcting errors, according to Mr. Jones, and perform tasks that other computers cannot approach.

Preparations for defense against such technology are underway across the federal government.

Art Fuller, who is leading the Justice Departments post-quantum cryptography efforts, said developing secure systems presents a huge challenge that cannot be solved by flipping a switch.

This is the largest cryptographic migration in history, Mr. Fuller told officials at Tuesdays event.

Estimates on the timing of the creation of such a quantum computer vary, but Mr. Jones said large-scale quantum computers remain in the early stages of research and development and could still be a ways off.

Regardless, Mr. Jones cautioned digital defenders against delaying preparation for the arrival of such technology.

He described the environment surrounding the development of the CRQC as almost very close to a nuclear weapon, with nations competing to obtain the machine and keep it top secret.

You never know, three years from now, you might have a CRQC but I think planning and getting that preparation in place will help you protect that data, Mr. Jones said.

The National Security Agency similarly fears the arrival of a CRQC in the hands of Americas enemies.

NSA Director of Research Gil Herrera said last month that teams around the world are building with different technologies and could develop something representing a black swan event, an extremely unexpected occurrence with harsh consequences.

If this black swan event happens, then were really screwed, Mr. Herrera said, citing potential damage to everything from financial transactions to sensitive communications for nuclear weapons.

Mr. Herrera did not forecast precisely when a nation could develop such a device in remarks at the Intelligence and National Security Alliance event but indicated it may take a long time to achieve.

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'Almost very close' to nuclear weapon: Federal cyber officials brace for quantum computing surprise - Washington Times

Summary: Rensselaer Polytechnic Institute (RPI) has recently magnified its technological landscape by inaugurating the IBM System One quantum computer, the first on a college campus. Echoing this milestone, RPI organized a Quantum Computing Day featuring insights from renowned experts who assessed the state of quantum computing, its strides, and the roadblocks yet to be navigated.

Rensselaer Polytechnic Institute (RPI) stands on the forefront of computational innovation with the introduction of IBMs pioneering quantum computer, IBM System One, to a college setting. In celebration of this leap, RPI called upon industry leaders and academics during its Quantum Computing Day. Jay M. Gambetta of IBM articulated quantum computings reliance on quantum mechanics to surpass classical computing limitations. With IBMs advancement from rudimentary qubits to the 127-qubit Eagle chip, he underscored the necessity of scaling systems and enhancing error correction. Quantum utility, he suggested, will only be achievable with the orchestration of larger systems, precision, and innovative algorithms.

Speakers such as James Misewich from Brookhaven National Laboratory highlighted quantum computings potential to unravel the complexities of quantum chromodynamics. Moreover, RPIs own Jian Shi and Ravishankar Sundararaman shed light on quantum computings applications in materials science, emphasizing the symbiotic relationship between this field and quantum chemistry for breakthrough discoveries.

Keynote speaker Steve M. Girvin from Yale University provided a reality check amidst quantum computings surrounding hype. He detailed the quantum sensors predicamenthigh sensitivity yields exceptional detection but also vulnerability to interference, making error correction a crucial function. Beyond error rectification, Girvin laid out the expansive challenges encompassing everything from algorithmic development to efficient quantum information routing, marking the emerging quantum era as one filled with innovation as well as intricate hurdles to overcome.

Expanding on the Technological Landscape of Quantum Computing

Quantum computing is currently one of the most rapidly evolving fields in the tech industry. With entities like IBM bringing advancements to the table, such as the IBM System One, the industry is witnessing significant milestones. The installation of this quantum computer at the Rensselaer Polytechnic Institute (RPI) stands as a testament to the increasing collaboration between academia and the tech industry, a symbiosis that aims to spur innovation and bridge the gap between theoretical and applied quantum mechanics.

As discussions during RPIs Quantum Computing Day revealed, quantum computing holds vast potential but also faces a multitude of challenges. The quantum industry is expected to grow considerably in the coming years. Market research forecasts point to a booming quantum computing market due to the high demand for quantum computing in banking, finance, pharmaceuticals, and even the energy sector. Analysts predict that the industry could reach billions of dollars as more practical and industry-specific applications are developed.

The potential applications in materials science, as discussed by Jian Shi and Ravishankar Sundararaman from RPI, are particularly promising. Researchers are optimistic about the role quantum computers will play in drug discovery, complex molecular modeling, and the development of new materials, with corresponding implications for sustainability and technological innovation.

However, the enthusiasm is tempered by the issues laid out by keynote speaker Steve M. Girvin from Yale University. The high sensitivity of quantum sensors, while beneficial for detection, also introduces greater susceptibility to interference, necessitating advanced error correction techniques. This underscores a broader set of challenges the industry faces, including the need for more robust quantum algorithms, the construction of scalable systems, and the development of infrastructure to support efficient quantum information routing. Addressing these challenges will be essential for quantum computing to transition from a largely experimental phase to broader practical utility.

In conclusion, while the quantum computing industry is poised for remarkable growth, hurdles such as error correction, system scalability, and the development of practical algorithms remain formidable. As highlighted by the events at RPI, the juxtaposition of rapid technological progress and the persistent hurdles provides a nuanced picture of an industry at the cusp of a potentially revolutionary technological era. For those interested in following the evolution of quantum computing, keeping an eye on institutions like Rensselaer Polytechnic Institute and industry leaders like IBM is critical. To learn more about how IBM is shaping the future of quantum computing, visit IBMs official website.

Natalia Toczkowska is a notable figure in digital health technology, recognized for her contributions in advancing telemedicine and healthcare apps. Her work focuses on developing innovative solutions to improve patient care and accessibility through technology. Toczkowskas research and development in creating user-friendly, secure digital platforms have been instrumental in enhancing the effectiveness of remote medical consultations and patient monitoring. Her dedication to integrating technology in healthcare has not only improved patient outcomes but also streamlined healthcare processes, making her a key influencer in the field of digital health innovation.

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Quantum Computing: A Glimpse of the Future at Rensselaer Polytechnic Institute - yTech