Russia’s Sberbank Sees Possibilities For Quantum in Business

Insider Brief

• Russian organizations collaborated on a report about quantum computing and business.
• The report highlights the growing global attention on supporting startups in the field of quantum technologies.
• The experts suggest the country’s businesses pay attention to quantum.

PRESS RELEASE — Quantum technologies have gained significant traction in both the scientific and business realms, attracting substantial investments worldwide, including in Russia, according to a story in TASS, based on a computer translation from the original article in Russian.

Sberbank, the Federal State Unitary Enterprise: Dukhov Automatics Research Institute (VNIIA) and the Artificial Intelligence Research Institute (AIRI) collaborated on the analytical report titled “Quantum Computing: Business Perspectives,” according to TASS.

The report highlights the growing global attention on supporting startups in the field of quantum technologies. The report states that in 2022, venture capitalists across the globe invested a total of $2.35 billion in these startups. Additionally, last year saw nearly 1,600 patents issued and published across various subfields of quantum computing, ranging from physical implementations of quantum hardware and error correction to artificial intelligence (AI) and machine learning, according to the report.

Recognizing the breakthrough potential of quantum technology, leading nations have incorporated quantum technologies into their national programs, allocating increasingly substantial budgets for research. China leads the way with government funding exceeding $15.3 billion. The report notes that major technology corporations also have dedicated development programs. For instance, IBM, which has produced a 433-qubit quantum processor, plans to increase the number of qubits to 1121 this year, while Google aims to unveil a 1000-qubit device after 2025. Intel has also committed to developing a complete stack of quantum computing technologies and has already released spin-based qubit quantum chips into the market.

The report states quantum computing in Russia focuses on four key physical platforms: superconducting qubits, photonics circuits, neutral atoms, and trapped ions. A network of organizations, including companies, research institutes, and universities, collaboratively conducts research and development, exploring the applicability of quantum computing to practical problems.

According to the report authors, quantum computing has the potential to drive the emergence of new industries centered around big data processing. It can also enhance the performance and efficiency of AI algorithms, increase the accuracy of modeling and simulations of complex systems (such as molecules for new drugs, chemical reactions, or physical processes), and usher in a new era of calculations in finance, logistics, climate solutions and cryptographic algorithms to ensure higher levels of security.

While no one has yet achieved practical quantum supremacy worldwide, the report encourages companies to plan for the post-quantum supremacy era. Quantum computing can seamlessly integrate into data processing workflows, utilizing adaptive tools for popular programming languages and interfaces.

The report concludes that the future of quantum computing is bright, offering immense potential for both scientific advancement and economic growth, with the quantum revolution poised to reshape industries across the globe.