Daily Update: Quantum Computing Could Supercharge AI Applications
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The following article is based on “Artificial Intelligence and Quantum Computing: The Fundamentals” written by a team at S&P Global.
To understand the benefits of quantum computing, it helps to understand the limitations of classical computing. Outside of a few, specialized labs, all computers today use classical computing. This means they operate using digital switches that can either be “on” (having a value of 1) or “off” (having a value of 0). The output of every classical processor is simply a series of ones and zeros, translated into words, numbers, calculations and visuals by programming languages that sit on top of this binary code. Each one or zero exists independently, and each processor on a chip can only conduct one operation at a time. The speed and power of modern computers have been achieved by continually adding more processors to each chip. Quantity compensates for the simplistic output and serial operation of the processors.
New types of computers are being developed that overcome some of these limitations. Quantum computers, which already exist in the labs of companies like IBM, Google, Microsoft, Rigetti and IonQ, have processors called qubits that can contain multiple values (not only zero and one) and perform multiple interrelated calculations simultaneously.
These computers use quantum mechanics, a branch of physics that describes the motion and interaction of subatomic particles. Quantum-scale particles have the surprising characteristic of occupying multiple states at the same time, known as superposition, and they can become entangled with other particles so that an action affecting one entangled particle can affect the other entangled particles, even at a distance. Quantum computing works by maintaining qubits in a quantum state for very brief periods so they can use superposition and entanglement to perform multiple interrelated calculations very, very quickly.
Classical computer limits today’s AI applications because detecting patterns requires multiple complex calculations that must be performed sequentially from simplistic inputs. An AI algorithm trained and operating on a quantum computer would be able to perform multiple interrelated calculations at the same time, using complex inputs. This would allow existing AI applications in industries such as healthcare, financial services, supply chain management and cybersecurity to operate more quickly and efficiently and process greater levels of complexity. However, the combination of AI and quantum computing could also trigger privacy and cybersecurity issues.
Quantum computing remains a difficult technology to implement. Maintaining qubits in a quantum state is an engineering challenge, requiring physical and environmental controls that are, at present, poorly matched to commercial applications. However, the advantages of quantum computing combined with modern AI techniques are too large to ignore.
Written by Nathan Hunt.
Sustainability
Sustainability Insights: Power Sector Update: European Offshore Wind Is Racing Ahead
S&P Global Ratings expects a continued steep buildup of offshore wind power capacity in European waters over 2024-2030, implying about $270 billion in investment, although Europe is likely to remain the second largest market after China. It projects that the levelized cost of electricity in Europe could rise by as much as 26% over the next two years after decreasing over the last decade, diverging from Asia-Pacific, where costs are still decreasing.
—Read the article from S&P Global Ratings
Economy
Detailed PMI Sector Data Underscore Growing Rift Between Manufacturing And Services Economies In August
A renewed fall in manufacturing output signaled by the August global manufacturing PMI raises worries about spillover effects to the service sector, which is now the main driver of global economic growth. Although only accounting for around one-tenth of GDP in most developed economies, the manufacturing sector's health carries overweight importance because of its leading indicator properties: the historical data from the PMI indicates that a deteriorating manufacturing performance tends to be followed by a noticeable weakening of the service sector within the next six months.
—Read the article from S&P Global Market Intelligence
Capital Markets
Financial Performance Down For Most US Office REITs Amid Occupancy Dip
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—Read the article from S&P Global Market Intelligence
Global Trade
US Gulf Coast Producers Shut In Oil Output Ahead Of Tropical Storm Francine
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—Read the article from S&P Global Commodity Insights
Energy & Commodities
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—Read the article from S&P Global Commodity Insights
Technology & Innovation
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—Read the article from S&P Global Market Intelligence
Events & Webinars
Webinar: Beyond ESG with Seizing the Transition Opportunity at Climate Week (Sept. 18, 2024)
As we look ahead to Climate Week NYC at the end of September, S&P Global Sustainable1’s next Beyond ESG webinar will explore the unprecedented market opportunities and equally unprecedented and complex risk scenarios as we transition to a net-zero, sustainable future.
—Register for the webinar from S&P Global Sustainable1