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1st May 2021, 04:14 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
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| Quantum computing only five years away Security experts fear Quantum Apocalypse Quantum computing could be brought to bear on some of the most complex calculations in financial markets within five years, according to research jointly conducted by Goldman Sachs. Apparently, backers are using the imperfect quantum computers that are expected to be in use in the next few years, rather than wait for the much more powerful systems that are one day expected to bring a revolution in computing. The bank’s research, conducted with quantum start-up QC Ware, suggests that programmers looking to harness the machines could achieve practical results sooner in return for giving up some of the huge gains in performance that quantum systems promise. The work reflects a recent effort by companies investing in the field to search for “quantum advantage”, or a marginal practical improvement compared with existing computers. That is a more modest goal than waiting for full “quantum supremacy”, the term used for when quantum systems are able to solve problems that are essentially impossible for a classical computer. The research looked into using quantum machines to price complex derivatives, one of the most computing-intensive tasks in the financial markets and a significant cost for banks. The calculations rely on so-called Monte Carlo simulations, which involve making a large number of projections about future random market movements to calculate the probability of a particular outcome. However, while quantum computing holds immense potential for tasks like pricing derivatives, those in the cybersecurity space are calling for an abundance of caution. Without immense efforts to create cryptographic encryptions that can withstand the power of quantum computing, the basic security that governs every aspect of our modern infrastructure may be rendered useless overnight. https://fudzilla.com/news/52786-quan...ive-years-away |
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