The Quantum Technology market is rapidly expanding, marked by the increasing number of large enterprises partnering with quantum technology firms. These partnerships signify a growing recognition of the potential impact of quantum technology in various industries, from finance to healthcare, and the need to invest in the development of quantum solutions. Listed below are a few of the major companies that have recently disclosed that they are experimenting with quantum computing.
However, keeping track of these developments can become rather difficult at times. Readers can stay up-to-date on the latest developments in the Quantum Technology market by referring to our Quantum Intelligence platform.
Ford Motor Company (March, 2023)
Ford researchers collaborated with Quantinuum to simulate the chemical composition of electric vehicle battery materials using quantum computers. The partnership aims to use quantum-based computational chemistry to gain insights into battery performance. Using Quantinuum’s quantum chemistry platform InQuanto, Ford researchers created highly accurate simulations of complex, real-world molecules that can enhance battery performance and robustness. The company plans to use InQuanto to build longer-lasting and safer batteries as the company increases the production of its electric vehicles.
Moderna (April, 2023)
Moderna and IBM have joined forces to investigate the potential of quantum computing and artificial intelligence in mRNA research. The two businesses intend to use MoLFormer, an AI-based foundation model that can be used to predict a molecule’s physical properties and understand the characteristics of potential mRNA medicines. More specifically, Moderna plans to use MoLFormer to enhance the lipid nanoparticles in mRNA that shield mRNA molecules from deterioration inside the body.
Moderna also intends to combine advanced formulation discovery with generative AI to create new mRNA drugs. This quantum approach offers the advantage of exploring significantly larger molecules than classical computer systems can handle.
JPMorgan (March, 2023)
JP Morgan, a leading universal investment bank, is collaborating with quantum software company QC Ware to explore quantum deep hedging, which uses machine learning to hedge derivatives books while considering real-world market factors like transaction costs. By relying on a quantum computer, the company can nearly double the effectiveness of its existing deep hedging engine.
JP Morgan currently uses a deep hedging engine to assess the potential price movements of a stock or option over a specified timeframe and determine its appropriateness to buy or sell. Due to computational constraints, conventional models can only consider a limited number of hypothetical scenarios, typically around 1,000. Moreover, companies must combine these models to determine the optimal strategy. In contrast, a quantum model can consider significantly more possible scenarios simultaneously.
Thales Alenia Space (January, 2023)
Thales Alenia Space recently won the European Space Agency (ESA) contract to lead the TeQuantS1 project, which aims to develop space-to-Earth quantum communications technologies. The partnership aim to develop quantum technologies for cybersecurity and quantum information networks, with satellites and optical ground stations set to be built by the end of 2026. The TeQuantS1 project will demonstrate the performance of long-distance quantum satellite links, viewed as the best bet for long-distance quantum communications.
Evonik Industries (April, 2023)
Switzerland-based quantum startup Terra Quantum is collaborating with chemical firm Evonik Industries to develop a quantum algorithm to accelerate the fluid mixing machine design process. Creating a new chemical by mixing two chemicals requires various elements, including speed, temperature, proportion, viscosity, and mixing form. Quantum computers are adept at solving such problems because they can solve optimization questions that involve an exponential number of answers.
Consequently, Terra Quantum created a simulator that mimics a quantum computer using conventional computers and special software. Using a quantum simulator, Terra Quantum was able to develop an algorithm that enhanced the simulation of liquid mixing to make it more efficient.
Roche (March, 2023)
Roche, a leading biotech firm, recently partnered with QC Ware to improve medical imaging analysis and diagnostics for diabetic retinopathy using quantum computing. The companies found that simulated quantum computing machine learning algorithms, in some cases, outperformed classical computing when analyzing open-source retinal medical images to detect this condition. The research demonstrates the potential of quantum computing to significantly enhance data science in the medical sector as machine learning applications become increasingly prevalent in diagnostics.
Red Hat (April, 2023)
QuSecure, a provider of post-quantum cybersecurity solutions, and Red Hat, a leader in open-source technologies, recently announced a partnership to help better serve their clients. QuSecure’s post-quantum cybersecurity technology provides clients with a hybrid classical and post-quantum security solution. The QuSecure solution enables organizations to implement a zero-trust quantum-resilient architecture before quantum computers have the capability to decrypt data. The solution is compatible with Red Hat Enterprise Linux, OpenShift, and the Red Hat Ansible Automation Platform.
BASF (February, 2023)
Quantum computing company SeeQC and chemical giant BASF have partnered to explore the potential of quantum computing in chemical reactions, particularly homogeneous catalysis. SEEQC’s chip-based quantum computer can simulate industrial catalysts that would otherwise be difficult to simulate. The project aims to reduce the nearly 10 million metric tons of oxo chemicals (derivative chemical compounds used in chemical and manufacturing processes) that are catalyzed each year. The goal is to accelerate development of more efficient and sustainable chemical reactions using quantum computing.
Ikerlan (October, 2022)
Late last year, quantum computing solutions provider Multiverse Computing began collaborating with manufacturing company Ikerlan to test quantum computer vision in identifying defects on factory production lines. The companies relied on a dataset of 2,727 X-ray images of automotive parts with and without casting defects to train a quantum artificial vision system. The subsequent results demonstrated that quantum computing algorithms performed better than classical computer vision systems in detecting manufacturing defects.
Morningstar (December, 2022)
Infleqtion, a global quantum ecosystem leader, has integrated its flagship quantum software, SuperstaQ, into Morningstar Direct, Morningstar’s investment and portfolio analysis platform. The integration will allow investors to use quantum computing to create custom analytics and discover new investment opportunities using Morningstar Direct’s Analytics Lab module. Likewise, Infleqtion’s quantum-enabled notebooks will allow investors to transform specific investment problems into queries designed for quantum computing.
The examples above reveal only a small slice of the companies currently experimenting with quantum technologies. You can learn more about the many enterprises experimenting with quantum computing by visiting our Quantum Intelligence Platform, the leading provider of Quantum Computing market data and insights on QC companies. In addition, the Quantum Intelligence Platform provides data, analytics, and reports on investors, funding, and more. It’s the place to go for a more thorough analysis of the market.
Our platform’s robust funding commercial information can be easily filtered by subsector and technology type using our proprietary taxonomy and customizable metadata. We also seamlessly integrate every article into The Quantum Insider’s database of news and data on the quantum computing industry.