10 Companies Experimenting with Quantum Technology in 2023
The Quantum Technology market is growing rapidly, marked by the increasing number of large companies partnering with quantum technology companies. This partnership signifies the growing recognition of the potential impact of quantum technology in a wide range of industries, from finance to healthcare, and the need to invest in the development of quantum solutions. Below are some of the major companies that have recently revealed that they are experimenting with quantum computing.
However, keeping track of these developments can be a bit difficult at times. Readers can keep abreast of the latest developments in the Quantum Technology market by referring to us Quantum Intelligence Platform.
Ford Motor Company (March, 2023)
wade researchers work with How many to simulate the chemical composition of electric vehicle battery materials using a quantum computer. The partnership aims to use quantum-based computational chemistry to gain insight into battery performance. Using the Quantinuum quantum chemistry platform At Quanto, Ford researchers create highly accurate simulations of complex real-world molecules that can improve battery performance and longevity. The company plans to use InQuanto to build longer-lasting and safer batteries as the company increases its production of electric vehicles.
Modern (April, 2023)
Modern And IBM have joined forces to investigate the potential of quantum computing and artificial intelligence in mRNA research. Both businesses intend to use MoL form, an AI-based foundational model that can be used to predict the physical properties of molecules and understand the characteristics of potential mRNA drugs. More specifically, Moderna plans to use MoLFormer to enhance lipid nanoparticles in mRNA that protect mRNA molecules from damage in the body.
Moderna also intends to do so combines advanced formulation discovery with generative AI to create new mRNA drugs. This quantum approach offers the advantage of exploring much larger molecules than classical computer systems can handle.
JPMorgan (March, 2023)
J.P. Morganleading universal investment bank, partnered with quantum software company QC Equipment to explore hedging in quantum, which uses machine learning to hedge derivatives books while taking into account real-world market factors such as transaction costs. By relying on quantum computers, companies can double the effectiveness of existing hedging machines.
JP Morgan currently uses deep hedging engines to assess the potential price movement of a stock or option over a given time frame and determine its eligibility to buy or sell. Due to computational constraints, conventional models can only consider a limited number of hypothetical scenarios, usually around 1,000. In addition, companies must combine these models to determine the optimal strategy. In contrast, the quantum model can consider much more likely scenarios simultaneously.
Thales Alenia Room (January, 2023)
Thales Alenia Room just won European Space Agency (ESA) to lead the TeQuantS1 project, which aims to develop space-to-Earth quantum communication technology. The partnership aims to develop quantum technologies for cybersecurity and quantum information networks, with satellites and an optical ground station to be built by the end of 2026. The TeQuantS1 project will demonstrate the performance of a long-range quantum satellite link, seen as the best bet for long-range quantum communications.
Evonik Industry (April, 2023)
Switzerland-based quantum startup Quantum Earth cooperate with chemical companies Evonic Industry to develop a quantum algorithm to speed up the fluid mixing machine design process. Creating a new chemical by mixing two chemicals requires various elements, including speed, temperature, proportion, viscosity, and form of mixing. Quantum computers are adept at solving such problems because they can solve optimization questions that involve an exponential number of answers.
As a result, Terra Quantum created a simulator that mimics a quantum computer using a conventional computer and special software. Using a quantum simulator, Terra Quantum was able to develop algorithms that fine-tune the simulation of mixing liquids to make them more efficient.
Roche (March, 2023)
Rochea leading biotech company, has recently partnered with QC Equipment to improve medical imaging and diagnostic analysis for diabetic retinopathy using quantum computing. The company found that simulated quantum computing machine learning algorithms outperformed classical computing in some cases when analyzing open-source retinal medical images to detect these conditions. This research demonstrates the potential of quantum computing to significantly enhance data science in the medical sector as machine learning applications become increasingly prevalent in diagnostics.
Red Hat (April, 2023)
QuSecureproviders of post-quantum cybersecurity solutions, and Red Hat, a leader in open source technology, recently announced a partnership to help better serve their clients. QuSecure’s post-quantum cybersecurity technology provides clients with hybrid classical and post-quantum security solutions. The QuSecure solution enables organizations to implement a zero-trust quantum-resistant architecture before quantum computers have the ability to decrypt data. This solution is compatible with Red Hat Enterprise Linux, OpenShift, and Red Hat Ansible Automation Platform.
BASF (February, 2023)
Quantum computing company SeeQC and chemical giants BASF have partnered to explore the potential of quantum computing in chemical reactions, particularly homogeneous catalysis. SEEQC chip-based quantum computers can simulate industrial catalysts that are difficult to simulate. The project aims to reduce nearly 10 million metric tons of oxochemicals (derived chemical compounds used in chemical and manufacturing processes) catalyzed annually. The goal is to accelerate the development of more efficient and sustainable chemical reactions using quantum computing.
Ikerlan (October, 2022)
Late last year, a provider of quantum computing solutions Multiverse Computing began to cooperate with manufacturing companies in research to test quantum computer vision in identifying defects in factory production lines. The company relies on a dataset of 2,727 X-ray images of automotive parts with and without casting defects to train a quantum artificial vision system. Subsequent results show that quantum computing algorithms perform better than classical computer vision systems in detecting manufacturing defects.
Morningstar (December, 2022)
Inflectionglobal quantum ecosystem leader, has integrated its flagship quantum software, SuperstaQinto the Morningstar live, Morningstar’s portfolio and investment analysis platform. This integration will enable investors to use quantum computing to create custom analytics and discover new investment opportunities using the Morningstar Direct Analytics Lab module. Likewise, Infleqtion’s quantum-enabled notebook will enable investors to turn specific investment concerns into queries designed for quantum computing.
The examples above reveal only a fraction of the companies currently experimenting with quantum technologies. You can learn more about the many companies experimenting with quantum computing by visiting our Quantum Intelligence Platform, a leading provider of Quantum Computing market data and enterprise QC insights. Besides that, Quantum Intelligence Platform providing data, analytics, and reports on investors, funds, and more. This is the place to go for a more thorough market analysis.
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