Quantum Computing: Industrial Opportunities

Quantum Computing: Industrial Opportunities

recent McKinsey Tech Trends 2022 The Outlook report notes that the biggest uncertainty in quantum technology is the time-frame in which error-correcting quantum computers will be built.

Despite research advances in the past few years, McKinsey research reports that quantum technologies remain nascent and have received less attention than more mature technologies. But despite these challenges, the study presents several plausible benefits that could be achieved if error rates could be reduced.

Rodney Gemmell, Senior Partner, McKinsey and Global Leader, McKinsey Digital, said: “Quantum computing doesn’t make sense for every company, but the range of potential applications we’ve seen spans from biopharma to automotive and, of course, telecom and financial services.”

Although the technology may be years away, so-called quantum-inspired algorithms can be used today in applications such as process optimization.

According to Microsoft, Optimization is a class of computing problems They are prime candidates for running on future quantum computers, offering quantum advantages over classical computing.

“Applying quantum-inspired optimization to real-world problems can help businesses gain new insights or make their processes more efficient and lower costs,” the company said on its Azure Quantum website for simulating quantum algorithms in the Azure public cloud.

Among the companies looking at quantum computing today is manufacturer Bosch. The Bosch automotive electronics plant in Madrid has begun working with quantum computing specialist Multiverse Computing to apply quantum technology to optimize manufacturing processes.

The manufacturer collects a large amount of sensor data from the equipment at the Madrid plant and expects Multiverse’s experience in applying it Quantum Computing Optimization in the Finance Sector Can be adapted for industrial applications.

Carlos Conde, technical vice-president of the Bosch factory in Madrid, said: “The collaboration with Multiverse focuses on improving the productivity and competitiveness of our factories by researching the use of quantum and quantum-inspired machine learning tools, connected to our global. Smart Factory Strategy. We have high expectations for the results of our algorithm development using big data and the dissemination of this knowledge within the Bosch organization.”

Current Industry 4.0 efforts at Bosch’s 240 plants have seen the manufacturer deploy 120,000 connected machines and more than 250,000 devices. Conde says that by understanding all the data coming from these connected devices, “we use this information to improve operations such as performance, quality and maintenance scheduling at the Madrid plant”. The company estimates that this analysis can increase productivity by up to 25%.

Bosch expects the results of the current phase involving the development and implementation of customized quantum and quantum-inspired algorithms at the Madrid facility later this year. If successful, Bosch has the potential to integrate quantum optimization into manufacturing environments across manufacturing facilities. “At Bosch, we have the freedom to improve the plant,” says Conde.

If all goes as promised and the company discovers a good opportunity to use quantum algorithms, a manufacturing facility in Madrid will follow, paving the way for a wider roll-out across the group’s 250 manufacturing plants.

BASF is another manufacturer working on optimization with multiverse computing. However, this time the chemical company is not looking to multiverse computing to improve industrial processes. Instead, it hopes that quantum algorithms will improve its foreign exchange trading (forex).

“Quantum computing is a promising field that has developed rapidly in recent years,” said Abhishek Awasthi, a member of BASF’s Next Generation Computing team who worked with Multiverse on the project. “Multiverse has a strong focus and expertise in quantum computing in the financial industry, and BASF wanted to start a joint project to explore what we can do together. From our conversations with Multiverse, we believe they can offer a significant advantage in the optimization of forex transactions.”

In the initial phase, the project focused on trade between the euro and the US dollar. As Computer Weekly previously reported, BASF has also started working with quantum algorithm developers. Pasquale To use proprietary algorithms to forecast weather patterns to support his digital agriculture business.

Beyond optimization, Multiverse Computing recently co-authored a paper discussing its use. Quantum-based machine vision To detect manufacturing defects in industrial applications. Based on tests against 546 sample images, the paper describes benchmarking quantum machine vision algorithms on two noisy intermediate scale quantum computers (Nisq).

“Our results show that quantum machine learning has a bright future when applied to real-life problems, and especially to computer vision tasks,” the paper’s authors wrote.

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