IN THE NEWS THIS WEEK

[Quantum Technology] Qilimanjaro Quantum Tech and GMV Will collaborate to Install a Quantum Computer at the Barcelona Supercomputing Centre. Qilimanjaro Quantum Tech and GMV will be collaborating to install two quantum processors at the Barcelona Supercomputing Center – Centro Nacional de Supercomputación (BSC-CNS). It will be further coupled with upcoming MareNostrum 5 supercomputer, which is already termed as one of the most powerful supercomputers in the world. The companies have posed a timeline of July, 2023 for the successful installation of MareNostrum 5. The installation of the infrastructure of the quantum process will be started by the Q3 of 2023 and will be completed by the end of the year.

[AI] Omdia: AI chip startups to have a tough year. Omdia’s Top AI Hardware Startups Market Radar has estimated that over 100 venture capitalists have invested over $6 billion into the top 25 AI chip startups since 2018. But the investments have taken a hit. There has been a global chip shortage coupled with an inventory crisis and economic issues. Omdia ahs predicted a closure of at least one major chip startup. About $6 billion are invested in AI chip startups which mostly focus on large-die, CGRA accelerators which are made to support the entire AI models on-chip. the continuing growth of AI models has raised concerns over this.

[Blockchain] Project Icebreaker concludes experiment for a new architecture for cross-border retail CBDCs. The Bank for International Settlements (BIS) and the central banks of Israel, Norway and Sweden have concluded Project Icebreaker, which studied the potential benefits and challenges of using retail central bank digital currencies (CBDC) in international payments. A collaboration between the BIS Innovation Hub Nordic Centre, Bank of Israel, Norges Bank, and Sveriges Riksbank, the project tested the technical feasibility of conducting cross-border and cross-currency transactions between different experimental retail CBDC systems.

[Industrial Metaverse] du UAE and Huawei Sign MoU on 5.5G Strategic Cooperation for entering the Metaverse. At Mobile World Congress (MWC) Barcelona 2023, du from Emirates Integrated Telecommunications Company (EITC) and Huawei signed a Memorandum of Understanding (MoU) for enhanced 5.5G strategic cooperation. With this collaboration, du and Huawei will reinforce support in 5.5G innovation, including technological innovation, and E2E network evolution. Collaboration will be done in ELAA-MM (Extremely Large Antenna Array Massive MIMO), Passive IoT, Virtual Large Carrier among others, and discuss E2E network evolution roadmap.

[General technology] QuARC 2023 explores the leading edge in quantum information and science. The second QSEC Annual Research Conference (QuARC) held in January was able to bring together MIT students and postdoctoral researchers, staff, faculty, and industry partners for a two-day session. The session distinctly focused on the leading edge in quantum information science and engineering. The conference was launched in 2022 to offer a collaboration opportunity to the members of the Quantum Science and Engineering Consortium (QSEC) with MIT students and faculty.

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OTHER NEWS AND TOP READS

• ​Quantum Brilliance Launches Software Suite Enabling Exploration of Applications with Miniature Quantum Computers​
• ​Salesforce Announces Einstein GPT, the World’s First Generative AI for CRM​
• ​Prompt Engineering - Guides, papers, lecture, and resources
• ​Robot armies duke it out in Battlecode’s epic on-screen battles​
• ​Why DeepMind Is Sending AI Humanoids to Soccer Camp​
• ​Maison Hennessy Announces The Launch Of Web3 Platform H3nsy​
• ​AVEVA Announces new CEO and Vision for Connected Industries of the Future​

FEATURED

Europe is throwing billions at quantum computers. Will it pay off?

By: Andris Ambainis

Expectations from Quantum computing have bene on a rise across the globe. While the technology might be expensive, the rewards are higher too. There has been a significant surge of private and public funding for European quantum technologies in the past few years. In 2021 in Europe, the private funding to quantum startups enhanced by 2.5x in comparison to 2020. The numbers were 8x higher as compared to 2019. There has been a rise in the Public funding as well with EU planning to invest $7.2 billion (€6.8 billion) in quantum computing projects by 2025.

​Figure 1 Europe is throwing billions at quantum computers. Will it pay off?​

There has been less attention given to the quantum software market in Europe which is one of The leading factors of Europe falling behind in the Quantum race. Take the instance of undervaluation of the quantum software in Europe in terms of the money distribution. As per the EU’s Quantum Technology Flagship program which is an initiative to aid Europe’s quantum innovations with a total of €1 billion in funding, only €152 million was invested in its 1st phase. Astonishingly, only €4.6 million, or mere 2.9% was spent on research and development of quantum software. Europe’s quantum computing startups that have raised noteworthy funding includes Pasqal (€100 million), Quantum Motion (£42 million), and Oxford lonics (£30 million) which are all hardware-focused.

Europe’s investors in the tech world need to understand that quantum computing is much as software problem as much as it is a hardware problem. The need to distribute the funds evenly or at least justly is the need of the hour for Europe to build its Quantum computing industry.

Read the full article from The Next Web: https://thenextweb.com/news/europes-throwing-billions-at-quantum-computers-will-it-pay-off

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