QX Snapshots Issue #5

IN THE NEWS THIS WEEK

[Quantum Technology] UK Expected to Reveal £2.5 Billion, 10-Year Quantum Computing Program. The UK government is anticipated to announce a 10-year £2.5 billion funding program which will support quantum computing in the country. The funding will be double then the present £1 billion National Quantum Technologies Programme. In 2022, it was announced by Innovate UK that they will invest £500,000 towards quantum startups. This investment will further boost the UK quantum startups which are increasingly attracting private investments such as the Quantum Motion raised over £50 million in equity funding recently.

[AI] Open AI has released GPT-4, the latest milestone in its effort in scaling up deep learning. GPT-4 is a large multimodal model (accepting image and text inputs, emitting text outputs) that, while less capable than humans in many real-world scenarios, exhibits human-level performance on various professional and academic benchmarks. Open AI evaluated GPT-4 on traditional benchmarks designed for machine learning models. GPT-4 considerably outperforms existing large language models, alongside most state-of-the-art (SOTA) models. GPT-4 can accept a prompt of text and images, which—parallel to the text-only setting—lets the user specify any vision or language task.

[Blockchain] Goldman Sachs has filed a patent focusing on blockchain technology. Goldman Sachs has filed a patent with the US Patent office on March 14, 2023. The patent was filed for piece of blockchain technology which Goldman Sachs is hopeful that will allow to integrate the settling mechanism, highlighting the technical and computational needs for the bank to incorporate blockchain in their systems. Filed under the Patent no: US 11, 605, 143 2B, the patent focuses on the features of smart contracts applicable to financial tools such as fractional reserve banking, insurance, bonds, securitized products, and margin loans.

[Industrial Metaverse] Industrial Metaverse Primed To 3x Consumer, Enterprise Applications. Industrial metaverse is booming across the globe and has 3x the potential to gain consumers as compared to enterprise and consumer metaverse. According to the research by Deloitte, the global metaverse market will be showcasing a growth to $13 trillion in revenue in the next seven years. As per McKinsey, the metaverse industry will be bigger and massive business opportunity which companies across the glow must be paying attention to since the industry has the potential to grow to $5 trillion by 2030.

[General Technology]. Microsoft announced Copilot. It works within Microsoft 365's app ecosystem which includes Microsoft Word, PowerPoint, Excel, Outlook, and Teams. As Microsoft showed us in the announcement, it can generate ideas, build reports and documents in Word and PowerPoint by pulling information from your calendar, emails, and contact lists. In Outlook, Copilot can compose and refine emails, and in Teams, it can summarize conversations and identify tasks and assignments. Copilot can even transcribe live meetings and create notes and summaries. Microsoft also announced a new tool called Business Chat, which is a lot like Bing Chat or ChatGPT but works for you like an AI executive assistant.

OTHER NEWS AND TOP READS

FEATURED

Industrial metaverse: The data driven future of industries

By: Corey Sanders, Corporate Vice President, Microsoft Cloud for Industry

Industrial metaverse is a transformative catalyst for innovation. Our ability to bring immersive experiences into the world of work has the potential to empower millions across the globe. What makes this such an exciting time is that this is real, it’s here, and happening right now across a diverse set of industries.

Why industrial metaverse?

The industrial metaverse is redefining how people and machines collaborate to design, build, operate and optimize physical systems using immersive technologies in the cloud for improvements in sustainability and efficiency. Remote operational technology and simulations are empowering effective monitoring of processes, proactive problem solving, and interaction from a safe distance.

Source: https://www.microsoft.com/en-us/industry/blog/manufacturing/2023/02/13/industrial-metaverse-the-data-driven-future-of-industries

The industrial metaverse is powered by the combination of many innovative technologies that deliver immediate financial value, sustainability, and employee efficiency through process optimizations, modelling, digital analysis, and AI-based predictions. Companies like Coca-Cola Hellenic Bottling Company are transforming their operations with industrial metaverse, digital twins, and virtual collaboration, adding predictability and resiliency to the supply chain. Mercedes-Benz is democratizing the digital experience by empowering its factory employees to drive process innovation through data insights—from frontline workers and plant managers to process engineers. Sight Machine, Microsoft’s 2022 Partner of the Year Finalist in manufacturing, serves multiple industries and use cases from a single Microsoft Azure-based platform delivering immediate business value.

Why now?

Industrial metaverse is evolving and capturing the scope of every industry including manufacturing, healthcare, retail, energy, and sustainability for both customers and our partner ecosystem.

Enhanced visibility, flexibility, contingency planning, and risk management are improving supply chain resiliency and risk mitigation. Investments in automation, remote solutions, and immersive training are helping us cope with the emerging labor shortage and declines in productivity.

Read the full article from Microsoft: https://www.microsoft.com/en-us/industry/blog/manufacturing/2023/02/13/industrial-metaverse-the-data-driven-future-of-industries/

Welcome to the QualitaX Newsletter !

QX Snapshots Issue #5

IN THE NEWS THIS WEEK

FEATURED

By: Corey Sanders, Corporate Vice President, Microsoft Cloud for Industry

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