Advertisement: EBCam mid banner
Advertisement: TTP
Advertisement: CJBS mid banner
Advertisement: HCR mid banner
ARM Innovation Hub
Advertisement: Cambridge Network mid banner
Advertisement: partnersand mid banner
Advertisement: Simpsons Creative
Mid banner advertisement: BDO
Advertisement: Mogrify mid banner
Advertisement: S-Tech mid banner 3
Advertisement: Wild Knight Vodka
Advertisement: Kao Data Centre mid banner
Advertisement: RSM mid banner
Barr Ellison Solicitors – commercial property
27 May, 2021 - 09:24 By Tony Quested

Monte Carlo but no bust, thanks to Cambridge Quantum Computing

Cambridge Quantum Computing (CQC) has discovered a new algorithm that accelerates quantum Monte Carlo integration – shortening the time to quantum advantage and confirming the critical importance of quantum computing to the finance industry in particular.

Monte Carlo integration – the process of numerically estimating the mean of a probability distribution by averaging samples – is used in financial risk analysis, drug development, supply chain logistics and throughout other business and scientific applications.

But it often requires many hours of continuous computation by today’s systems to complete. It is a critical aspect of the computational machinery underpinning the modern world.

CQC says it has solved the problem with an algorithm detailed in a released pre-print of a paper by senior research scientist, Steven Herbert, showing how historic challenges are eliminated, and the full quadratic quantum advantage is obtained.

Herbert said: “This new algorithm is a historic advance which expands quantum Monte Carlo integration and will have applications both during and beyond the NISQ era.

“We are now capable of achieving what was previously only a theoretical quantum speed-up. That’s something that none of the existing quantum Monte Carlo integration (QMCI) algorithms can do without substantial overhead that renders current methods unusable.”

Ilyas Khan, CEO of Cambridge Quantum Computing, added: “This is an impressive breakthrough by the scientists at CQC that will be of tremendous value to the financial sector as well as many other industries and is just the latest in a continuing streak of innovations that confirm our world leading position in quantum computing.” 

Founded in 2014 and backed by some of the world’s leading quantum computing companies, CQC is a global leader in quantum software and quantum algorithms, enabling clients to achieve the most out of rapidly evolving quantum computing hardware. CQC has offices in the UK, Germany and USA.

Newsletter Subscription

Stay informed of the latest news and features