TQI QuickBits -- Survey Says... Quantum Is Here. Medicine in the Fast (River)lane and More Quantum News
The Quantum Insider
Making Quantum Technology accessible through media, news, insights and data
One the reasons -- in my sometimes humble, sometimes not-so-humble opinion -- that holds quantum back is that the science is challengingly contrarian and quantum's impacts are difficult to fathom based on that complexity and contrarian nature.
But, the word is getting out. I'll draw your attention to the OpenOcean–IQM-Lakestar State of Quantum 2022 Report. Here are some of the findings:
People might add, correctly, that experts can be proven wrong, and often are. While I recognize that critique, I would say, first, that these are incredibly informed opinions. Secondly, these opinions have probably changed from "What that heck is quatum" a few years ago to "I better learn about quantum" now. Finally, this report surfaces a rapidly tightening flywheel effect in quantum. The more leaders who believe quantum will have an impact, the more resources -- economic, academic, etc. -- will go into the science and technology behind quantum.
That will build the momentum that can lead to the realization of prophecies, even self-fulfilling ones.
Time will tell, but this report is an excellent resource for those of us who are trying to measure the pulse of a rapidly emerging industry.
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Quantum Quotes
Leading European venture capital firms, tech investors and quantum computer makers, along with our own team at The Quantum Insider released the OpenOcean–IQM-Lakestar State of Quantum 2022 Report. Its findings point to a growing acknowledgement of the potential of quantum technologies.
“Our research confirms that we are on a one-way journey to enter the quantum era. The findings are a clear sign that the broader market is starting to buy into the potential of quantum computing, recognising its emerging commercial potential and backing it with significant investment." -- Ekaterina Almasque, General Partner at OpenOcean.
The scientific teams of startups in the quantum ecosystem are producing some of the most exciting research works. This week, Riverlane published results that point to the potential for quantum computers to vastly improve drug discovery -- which could lead to less expensive pharmaceuticals and treatments that could reach patients faster.
“This latest research from Riverlane’s world-class scientific team demonstrates that quantum has the power to transform industries that billions of people around the world rely on every day. However, we will only realise these benefits, whether they are in drug discovery, materials, or climate if we are able to solve the foundational challenge of error correction.” -- Steve Brierley, CEO of Riverlane.
Quantum Company-of-the-Week: Riverlane
Spotlighting Riverlane this week. The company announced an advance in leveraging quantum computing for drug discovery. Bearing in mind some limitations, the study showed that quantum computers could cut what would take a classical device a thousand years to a few days for a quantum machine. In TQI's Intelligence Platform you can review the company -- from its profile to its funding to the latest articles -- in depth.
Quick Look
The quantum technology industry is still -- very, very -- young -- you can tell that by using The Quantum Insider's Intelligence Platform to plot the employee number of quantum companies. A large number -- 255 -- of the companies are in the 1 to 10 employee range. But that is -- and will -- change as the market matures.
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QuickBits
OpenOcean, a leading European venture capital firm, IQM Quantum Computers, a European leader in quantum computers, and Lakestar, the leading European technology investor, have released the OpenOcean–IQM-Lakestar State of Quantum 2022 Report, in association with The Quantum Insider (TQI). The report shows that 91% of business leaders are investing or planning to invest in quantum computing, a field in which private investment has grown 500% from a total of $0.4 billion in 2017 to $2.2 billion in 2021.
Algorithmiq, a Helsinki-based quantum computing startup, has entered into an engagement with IBM to progress in its exploration of quantum algorithms that attempt to solve complex issues in life sciences. This collaboration brings together IBM’s world-leading hardware, software and quantum applications expertise with Algorithmiq’s cutting-edge algorithm developers, to explore ways to dramatically cut the time and cost of drug discovery and development.
Riverlane, the quantum engineering company building the world’s first operating system for error corrected quantum computing, today announces the publication of peer-reviewed research that underlines the potential of quantum to transform drug discovery and development.
A group of scientists from Aalto University, IQM Quantum Computers and VTT Technical Research Centre have discovered a new superconducting qubit, the unimon, to increase the accuracy of quantum computations. The team has achieved the first quantum logic gates with unimons at 99.9% fidelity — a major milestone on the quest to build commercially useful quantum computers.
IonQ?announced revenue of $2.8 million for the third quarter, compared to $233,000 last year at the same time and $2.6 million last quarter. The news came as part of the company’s third quarter results statement.
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