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💻📱🖥️ Quantum Computing Boom: $1 Trillion in Value Creation Forecasted by 2035

Thursday, 05 December 2024 10:23.AM

- Issued on behalf of Scope Technologies Corp. with the installation of new hardware. -

USA News Group News Commentary
In recent weeks, Amazon's quantum advancements have ignited significant momentum across the market, propelling the industry closer to the dawn of the "Quantum Age." In response, the U.S. government has acted decisively, partnering with quantum pioneers to support a $2.7 billion National Quantum Initiative Reauthorization Act. While Polaris Market Research previously estimated the Global Quantum Computing Market could exceed US$5.7 billion by 2032 at an impressive 19.1% CAGR, updated projections from The Quantum Insider now anticipate quantum computing could generate $1 trillion in value by 2035. At the forefront of this technological revolution are companies driving advancements in quantum computing and infrastructure, including Scope Technologies Corp., Quantum Computing Inc., Cisco Systems, Inc., Rigetti Computing, Inc., and International Business Machines Corporation .

The article continued: Analysts at IDTechEx predict even stronger growth for the Global Quantum Computing Market, forecasting a 30% CAGR through 2045. As industries prepare for this transition, the World Economic Forum has emphasized public-private collaborations within the financial sector to strengthen security for the post-quantum era.

Scope Technologies Expands Global Entropy Delivery Network with Significant Data-in-Transit Security Advancements

Scope Technologies Corp., a pioneering technology company specializing in quantum security and machine learning (ML), today announced significant advancements to its data-in-transit security infrastructure with the installation of new hardware. These updates, which expand Scope's entropy delivery system across new locations in Europe, Asia, and North America, represent a milestone in delivering secure and efficient global data transmission.

The expanded network enhances the speed and redundancy of QSE's services while significantly reducing latency for businesses worldwide. These improvements not only ensure faster, more reliable data encryption but also strengthen protections against cyber threats such as man-in-the-middle attacks and Harvest Now, Decrypt Later (HNDL) strategies.

"Our global network expansion reflects our commitment to providing unparalleled data security," said Sean Prescott, Founder and CTO of QSE Group. "By increasing our infrastructure's speed and reliability, we're not only enhancing the user experience but also building the resilience needed to safeguard data during transmission, now and into the future. This is critical for industries handling sensitive information, where interception risks can lead to significant consequences."

As part of Scope's mission to continuously advance quantum-resilient encryption, these updates position the QSE platform as a leader in secure, real-time communications. The advancements also align with industry compliance requirements, offering organizations a seamless, secure solution to meet regulatory demands.

Moreover, these upgrades lay the groundwork for QSE's forthcoming secure mobile application, designed to provide industries with rapid, encrypted data-sharing capabilities. Further announcements on this next-generation platform are expected soon.

Scope Technologies' commitment to expanding its infrastructure ensures that businesses and individuals are equipped with the tools needed to protect their data against current and emerging threats.

The announcement follows Scope's recent announcement of the signing of a Letter of Intent (LOI) with Global Care Innovations Inc. (GCI) and BitLab. This strategic partnership aims to provide quantum-secure data solutions and advanced AI-powered tools to healthcare providers throughout North America.

As well, Scope recently launched a subscription model offering round-trip encrypted, quantum-resilient cloud storage for both businesses and individuals. With this new strategic partnership, Scope aims to demonstrate its capability to improve patient care through advanced technology and solidify its position as a leader in secure technology solutions for critical sectors such as healthcare.

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In other industry developments and happenings in the market include:

Quantum Computing Inc. (QCi), an innovative, integrated photonics and quantum optics technology company, recently announced it received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin. The order will support the research efforts of the University's RF Acoustic Microsystem Group and is part of the QCi Foundry's pilot launch program, with fulfillment expected in Q1 2025.

The order enables the University to advance chip-scale acoustic and cross-domain microsystems using QCi Foundry's scalable TFLN processes, supporting a custom fabrication run that highlights TFLN's versatility for next-generation photonics and micro electromechanical systems.

"This strategic collaboration with the University of Texas at Austin underscores the expanding capabilities and commercial viability of the QCi Foundry, which has been designed to meet the increasing demand for signal processing, sensing, and computing applications as well as advanced acoustic systems for volume deployment," said Dr. William McGann, CEO at QCi. "We are excited to support the University's innovative research, and this collaboration further highlights the growing recognition of TFLN as a critical driver in the future of telecom, datacom, and quantum markets."

Cisco Systems, Inc., a tech infrastructure giant, recently announced at its Quantum Summit 2024 that Cisco researchers are reporting substantial efforts are underway now to develop practical quantum networks and data centers. Cisco's vision for a quantum data center includes the ability to execute multiple quantum circuits, support dynamic network interconnections, and leverage diverse entanglement generation protocols, according to Reza Nejabati, head of quantum research at Cisco's advanced development group Outshift, during a presentation at the event.

"It is well known in academic research that quantum computing cannot become useful by monolithically scaling it to 10s of millions of qubits—that is not practical," said Nejabati. "It seems, at least with the current technology, it is more realistic to build a network of smaller quantum computers. And essentially you develop the notion of the data center—that is we build a network connecting a large number of smaller processors in a controlled environment, the data center warehouse, and provide them as a service to a larger user base. That's the basic definition of a quantum data center."

Rigetti Computing, Inc., a pioneer in full-stack quantum-classical computing, recently announced that it successfully completed sales of $100 million gross proceeds of its common equity offering program. Rigetti immediately followed up by announcing another $100 million registered direct offering, while intending to use the funds generated by the previous fund raising for working capital, capital expenditures and other general corporate purposes, including continuing to focus on its strategy as a leader in superconducting quantum computing and continuing to work to improve its 2-qubit gate fidelity and scale towards higher qubit count systems.

"We are pleased to see the enthusiasm for the quantum computing sector and our company," said Dr. Subodh Kulkarni, CEO of Rigetti. "We are seeing a great deal of interest from national labs and academic institutions for on-premises quantum computers to pursue hands-on R&D. As the technology continues to improve and more quantum applications are developed we expect to see increasingly more interest from industry and the private sector."

International Business Machines Corporation, a computing giant that provides integrated solutions and services worldwide, recently announced quantum hardware and software advancements to execute complex algorithms on IBM quantum computers with record levels of scale, speed, and accuracy.

IBM Quantum Heron, the company's most advanced quantum processor, can now run certain quantum circuits with up to 5,000 two-qubit gates, nearly doubling its previous capability and completing tasks 50 times faster than last year's demonstration. Combined with IBM's enhanced Qiskit software, which leads the industry in performance and reliability, these advancements push the boundaries of quantum computing's potential in tackling complex scientific challenges.

"Advances across our hardware and Qiskit are enabling our users to build new algorithms in which advanced quantum and classical supercomputing resources can be knit together to combine their respective strengths," said Jay Gambetta, Vice President, IBM Quantum. "As we advance on our roadmap towards error-corrected quantum systems, the algorithms discovered today across industries will be key to realizing the potential to solve new problems realized through the convergence of QPUs, CPUs, and GPUs."

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SOURCE: USA News Group

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