HSBC and Quantinuum Explore Real World Use Cases of Quantum Computing in Financial Services
Multi-stage project by Quantinuum and HSBC will research several quantum topic areas, including cybersecurity, fraud detection, and natural language processing
Cambridge, UK, Broomfield, Colorado, May 30th, 2023 — Quantinuum, the world’s largest quantum computing company, and HSBC are pleased to announce a series of exploratory projects that exploit the potential near- and long-term benefits of quantum computing for banking with specific projects in cybersecurity, fraud detection, and natural language processing.
Philip Intallura, Global Head of Quantum Technologies at HSBC said “We are excited to embark on this partnership with Quantinuum and explore the further applications of Quantum technology in the Financial Services sector. Our collaboration provides us a great opportunity to access cutting-edge quantum hardware and take our use cases to a truly transformational level. We are looking forward to seeing the results of our joint work and bring long-term value to the bank.”
“Our collaboration with HSBC brings together a deep expertise in the application of quantum computing across a set of areas that are critical in global finance, such as protecting vital data and assets, managing risk, and creating first-of-its-kind customer service approaches. As we move towards quantum computers that simply cannot be simulated by classical computers, customers will benefit from significant value in terms of innovation, knowledge.” said Ilyas Khan, Chief Product Officer of Quantinuum.
Strengthening Cybersecurity
An initial exploration of the multi-stage collaboration is intended to demonstrate the use of quantum computing-hardened cryptographic keys, including uniquely combining them with post-quantum cryptographic algorithms to mitigate current and future cyber threats. This effort to strengthen resiliency against advanced cyber threats is increasingly critical as the transition point between the capabilities of classical and quantum computers continues to approach.
Quantinuum’s Quantum Origin is a cutting-edge platform that uses the operations of a quantum computer to strengthen the cryptographic keys that are used to protect transactions and identification processes. Quantum Origin is deployed on existing “classical” cybersecurity infrastructure and is the first commercial product on the market that uses a quantum computer to produce provably unpredictable cryptographic keys, which could offer an extra layer of security to protect HSBC’s most valuable data. HSBC and Quantinuum will run Quantum Origin via an HSM provider.
Building A Quantum Business Advantage
In a second part of the collaboration, HSBC and Quantinuum will research and explore the potential benefits of quantum machine learning (QML) and quantum natural language processing (QNLP) for HSBC's business. With fraud detection as an HSBC priority, the collaboration will examine advanced QML techniques that are enhanced by qubit routing and circuit optimization techniques provided by Quantinuum’s architecture-independent software development platform, TKET.
Additionally, HSBC and Quantinuum will explore QNLP, which is a novel form of language-based AI that uses an explainable model, rather than the "black box" methods of traditional classical large-language models. QNLP will be based on training quantum states and processes that encode word meanings. This approach may enable native NLP tasks such as question answering or text similarity, which could be valuable in regulated markets dealing with customer data.
Through this research collaboration, HSBC and Quantinuum are positioned to be at the forefront of developing and implementing quantum-based solutions that have the potential to revolutionize the banking industry.
For more information, please visit www.quantinuum.com.
About Quantinuum
Quantinuum is the world’s largest quantum computing company, formed by the combination of Honeywell Quantum Solutions’ world-leading hardware and Cambridge Quantum’s class-leading middleware and applications. Science-led and enterprise driven, Quantinuum accelerates quantum computing and the development of applications across AI, chemistry, cybersecurity, finance, and optimization. Its focus is to create scalable and commercial quantum solutions to solve the world’s most pressing problems, in fields such as energy, logistics, climate change, and health. The company employs over 480 people including 350 scientists, at nine sites in the US, Europe, and Japan.
About Quantinuum
Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
With thousands of physical qubits, hundreds of logical qubits, low error rates, and a fully integrated software stack, Quantinuum’s roadmap outlines its path to achieve scientific advantage and a tipping point for commercial advantage
In collaboration with Microsoft, Quantinuum also demonstrates two industry firsts: 12 logical qubits and an end-to-end scientific workflow using AI, High-Performance Computing (HPC), and logical qubits on what Microsoft has previously described as “the path to a Quantum Supercomputer”
Broomfield, Colorado and London, UK, September 10th, 2024 – Today, Quantinuum, the world’s largest and leading integrated quantum computing company, unveiled its roadmap to universal, fully fault-tolerant quantum computing by 2030. The roadmap materially accelerates the path to commercial quantum computing systems with the potential to unlock a trillion-dollar market[1] and enable AI to help solve some of the world’s most pressing problems. In parallel, Quantinuum in partnership with Microsoft announced a series of milestones and integrations.
Quantinuum’s roadmap unveils its fifth-generation quantum computer, Apollo, which will be a fully fault-tolerant and universal quantum computer, capable of executing circuits with millions of gates, delivering scientific advantage and enabling a commercial tipping point.
“We are the only company with a clear and demonstrable path that leverages quantum computing to tackle large-scale scientific and commercial applications,” said Dr. Rajeeb Hazra, CEO of Quantinuum. “With our proven record of driving technological advancement and the unwavering trust of our global customers and partners, we are confident that we possess the industry’s most credible roadmap toward achieving universal fully fault-tolerant quantum computing.”
The roadmap is built on the foundations of Quantinuum’s fully scalable quantum charge-coupled device (QCCD) architecture, including a universal gate set and high-fidelity physical qubits uniquely capable of supporting reliable logical qubits. For four years now, Quantinuum has remained steadfast in providing data along with peer-reviewed papers to show the science and engineering work behind these methodical advances.
“Our next system, Quantinuum Helios, will support enough logical qubits to unlock scientific and mathematics advances that will clearly surpass classical computing,” Hazra said. “Our roadmap then draws a direct line to hundreds of logical qubits, at which point quantum computing will outperform classical computing to address a broad range of scientific problems in areas like finance, chemistry, and computational biology. We also know, from experience, that utility in the form of applications that are suitable for global enterprises and governments will likely bubble to the surface and increase rapidly over the next 18 months. Our quantum computers are already impossible to simulate classically.”
Quantinuum also announced another milestone today in collaboration with Microsoft: achieving 12 logical qubits on the newly updated 56-qubit System Model H2 quantum computer, a 3x advance over the four logical qubits the companies announced in April. Microsoft also used the System Model H1 quantum computer to run the first ever chemistry simulation using reliable logical qubits combined with AI and HPC to produce results within chemical accuracy. Finally, Quantinuum and Microsoft have completed the integration of Quantinuum’s InQuanto™ computational quantum chemistry software package with Azure Quantum Elements, making it available to customers through private preview.
“The collaboration between Quantinuum and Microsoft has established a crucial step forward for the industry and demonstrated a critical milestone on the path to hybrid classical-quantum supercomputing capable of transforming scientific discovery,” said Dr. Krysta Svore – Technical Fellow and VP of Advanced Quantum Development for Microsoft Azure Quantum.
“It is now clear that enterprises need to be ready to take advantage of the progress we can see coming in the next business cycle,” Hazra said. “Our customers are placing quantum in their strategic plans and finding new ways to align our quantum system with classical computing and generative AI.”
In 2019, Quantinuum’s H-Series devices were among the first to be offered commercially via Microsoft Azure. Today, Quantinuum’s H1 and H2 quantum computers, Powered by Honeywell, remain available on Azure and directly to Quantinuum customers and partners.
In the past few years, Quantinuum has achieved many significant milestones, including:
- Winning the race to “three 9s” hardware fidelity
- Demonstrating the scalability of our architecture
- High-fidelity teleportation of logical qubits
- Fault-tolerant entangling gates
- Beyond-break even with logical qubits
- Lattice surgery
- Real-time fault-tolerant error correction
- The performance of complex algorithms like the quantum Fourier transform at the logical level
- The computing primitives required to demonstrate a magic state distillation protocol
A blog post with more details on the Quantinuum quantum hardware roadmap can be viewed here. The Microsoft announcement regarding the 12 logical qubits can viewed here.
About Quantinuum
Quantinuum, the world’s largest integrated quantum computing company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
[From left to right, standing] The MoU signing was witnessed by Prof Tan Sze Wee, Assistant Chief Executive, Biomedical Research Council, A*STAR; Prof Yeo Yee Chia, Assistant Chief Executive, Innovation & Enterprise, A*STAR; Prof Low Teck Seng, Co-chair, National Quantum Steering Committee; Mr Quek Gim Pew, Co-chair, National Quantum Steering Committee; Mr Ilyas Khan, Founder & Chief Product Officer, Quantinuum
Singapore, July 24th, 2024 — Singapore’s National Quantum Office (NQO), Agency for Science, Technology and Research (A*STAR), National University of Singapore (NUS), National Supercomputing Centre (NSCC) and Quantinuum signed a Memorandum of Understanding (MoU) today, enabling access to Quantinuum’s advanced quantum computer, and to explore and collaborate on quantum computing use cases, focusing on computational biology.
Under the MoU, the parties agree to leverage Quantinuum’s H-Series and Helios quantum computers, to promote joint research and development (R&D) activities in various quantum computing applications. Helios is Quantinuum’s next generation quantum processor that could exponentially increase the computing power of quantum computers.
The parties will also collaborate on developing hybrid computing solutions that include both classical and quantum computing infrastructures, leading to the creation of long-term strategic roadmaps. The MoU also enables collaborations in training and outreach through seminars, workshops and bespoke programmes to nurture quantum talent and contribute towards Singapore’s growing quantum community.
Singapore has a strong background in computational biology and the collection of quality health datasets. Through this MoU, scientists from A*STAR’s Bioinformatics Institute (A*STAR’s BII), the Centre for Quantum Technologies (CQT) at NUS and Duke-NUS Medical School’s Centre for Computational Biology will be able to leverage Quantinuum’s machines to enhance capabilities in modelling complex biological systems, advancing drug discovery and personalised medicine. In addition, Quantinuum also plans to establish a dedicated R&D presence in Singapore, where researchers from both Quantinuum and Singapore could better exchange knowledge and expertise for further developments in quantum applications and algorithms.
As the largest quantum computing company that has demonstrated success in building the highest performing quantum computers, Quantinuum offers an integrated, end-to-end quantum computing platform. Quantinuum leverages trapped-ion technology – one of the most promising approaches for building the highest fidelity and scalable quantum computers - to develop use cases in a wide range of applications, including pharmaceuticals, material sciences, and finance.
This MoU is guided by Singapore’s National Quantum Strategy, which aims to strengthen Singapore’s position as a leading hub in the development and deployment of quantum technologies by bolstering scientific excellence in high impact areas of quantum research; strengthening Singapore’s engineering capabilities in quantum technologies to accelerate translation into real world solutions; attracting, developing and retaining quantum talent; and anchoring company partnerships to build a vibrant and resilient quantum industry.
NQO oversees the development and execution of Singapore’s National Quantum Strategy to advance Singapore’s quantum technologies, talent and ecosystem development through the national-level quantum programmes. The National Quantum Computing Hub (NQCH), a national-level quantum programme and a joint initiative of CQT, A*STAR’s Institute of High Performance Computing (A*STAR’s IHPC) and the National Supercomputing Centre Singapore, will drive this collaboration with Quantinuum.
“This is a strategic collaboration with Quantinuum, following the launch of Singapore’s National Quantum Strategy in late May. Through the NQCH, the National Quantum Office has brought together key research performers to collaborate with Quantinuum on advancing R&D in quantum computing, which will give Singapore an edge in quantum use cases across various industries. Equally important, this MoU will give Singapore access to Quantinuum’s state-of-the-art H-Series and Helios quantum computers. The NQO will continue to foster mutually beneficial partnerships through our national-level quantum programmes, and we look forward to delivering outcomes that could benefit the research, innovation and enterprise (RIE) ecosystem together,” said Ling Keok Tong, Executive Director, NQO.
"Our collaboration underscores our commitment to advancing global quantum computing. By harnessing our cutting-edge H-Series quantum computers and leading quantum application software stack, we aim to pioneer transformative use cases in computational biology and life sciences, catalysing innovation across industries. Establishing an R&D hub in Singapore enhances our dedication to fostering a vibrant quantum ecosystem, driving scientific excellence, and nurturing top quantum talent. Together, we aim to make significant strides in quantum technologies, supporting Singapore's ambition to lead in the rapidly evolving technological landscape," stated Dr. Rajeeb (Raj) Hazra, CEO of Quantinuum.
About the National Quantum Office
The National Quantum Office (NQO) was established with the support of the National Research Foundation (NRF) to drive the development and implementation of the Research, Innovation and Enterprise (RIE) strategy for Quantum in Singapore. The Office was set up in April 2022 and is hosted by A*STAR, the Implementing Agency for Quantum. NQO, as a control tower, supports fundamental and translational research in Quantum through various strategic programmes that it oversees. It partners both public and private sectors to create a vibrant RIE quantum ecosystem in Singapore. For more information, visit https://nqo.sg.
About the Agency for Science, Technology and Research (A*STAR)
The Agency for Science, Technology and Research (A*STAR) is Singapore’s lead public sector R&D agency. Through open innovation, we collaborate with our partners in both the public and private sectors to benefit the economy and society. As a Science and Technology Organisation, A*STAR bridges the gap between academia and industry. Our research creates economic growth and jobs for Singapore, and enhances lives by improving societal outcomes in healthcare, urban living, and sustainability. A*STAR plays a key role in nurturing scientific talent and leaders for the wider research community and industry. A*STAR’s R&D activities span biomedical sciences to physical sciences and engineering, with research entities primarily located in Biopolis and Fusionopolis. For ongoing news, visit www.a-star.edu.sg.
Follow us on
Facebook | LinkedIn | Instagram | YouTube | TikTok
About Quantinuum
Quantinuum, the world’s largest integrated quantum computing company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
About Duke-NUS Medical School
Duke-NUS is Singapore’s flagship graduate entry medical school, established in 2005 with a strategic, government-led partnership between two world-class institutions: Duke University School of Medicine and the National University of Singapore (NUS). Through an innovative curriculum, students at Duke-NUS are nurtured to become multi-faceted ‘Clinicians Plus’ poised to steer the healthcare and biomedical ecosystem in Singapore and beyond. A leader in ground-breaking research and translational innovation, Duke-NUS has gained international renown through its five signature research programmes and 10 centres. The enduring impact of its discoveries is amplified by its successful Academic Medicine partnership with Singapore Health Services (SingHealth), Singapore’s largest healthcare group. This strategic alliance has led to the creation of 15 Academic Clinical Programmes, which harness multi-disciplinary research and education to transform medicine and improve lives.
For more information, please visit www.duke-nus.edu.sg
About the Centre for Quantum Technologies
The Centre for Quantum Technologies (CQT) is Singapore’s flagship national research centre in quantum technologies. Supported under Singapore’s National Quantum Strategy, the centre has nodes at partner institutions and coordinates research talent across the country.
CQT’s partner institutions are universities – the National University of Singapore, Nanyang Technological University, Singapore, and the Singapore University of Technology and Design – and the Agency for Science, Technology and Research.
CQT brings together physicists, computer scientists and engineers to do basic research on quantum physics and to build devices based on quantum phenomena. Experts in this new discipline of quantum technologies are applying their discoveries in computing, communications, and sensing.
For more information, please visit www.quantumlah.org
About the National Supercomputing Centre Singapore
Established in 2015, the National Supercomputing Centre (NSCC) Singapore manages Singapore’s first national Petascale facility providing high performance computing (HPC) resources. As a National Research Infrastructure, NSCC supports private and public sector research including commercial companies, government agencies as well as higher education and research institutes. Through the support of its stakeholders including the Agency for Science Technology and Research (A*STAR); Nanyang Technological University (NTU); National University of Singapore (NUS); Singapore University of Technology and Design (SUTD); the National Environment Agency (NEA) and Technology Centre for Offshore and Marine, Singapore (TCOMS); and funded by the National Research Foundation (NRF), NSCC catalyses national research and development initiatives, attracts industrial research collaborations and enhances Singapore’s research capabilities. For more information, please visit: https://nscc.sg
ANNEX – Additional quotes from MoU signatories
“A*STAR’s BII is excited to bring its expertise in Computational Biology and Bioinformatics approaches to accelerate the development of quantum-classical hybrid algorithms, quantum algorithms, and applications through this MoU. The MoU will also facilitate knowledge exchange to enhance our understanding of quantum technologies, positioning us at the forefront of innovation in these critical fields,” said Dr. Sebastian Maurer-Stroh, Executive Director, A*STAR’s Bioinformatics Institute.
“Right now, many promising biological discoveries stall when it comes to finding the right drug candidate that is not only effective at treating the disease but is also well-tolerated by patients. The process of finding the right molecule is slow and often limited in how many variables can be accounted for in a single model. Augmenting our existing capabilities with quantum computing could resolve these limitations, leading to better drugs for patients faster,” said Associate Professor Enrico Petretto, Director of the Centre for Computational Biology at Duke-NUS, adding: “This partnership, which focuses on quantum applications in biology, will also benefit computational biologists-in-training seeking to deepen their understanding of how to incorporate quantum computing into their drug discovery work.”
“A*STAR’s IHPC has been harnessing central processing units (CPUs) and graphics processing units (GPUs) to accelerate complex computations and optimise data-intensive tasks. With advancements in quantum computing technology, we are now integrating quantum processing unit (QPU) elements to push computational boundaries and drive innovation across various fields. Our partnership with Quantinuum is a step forward in improving applications such as drug discovery, potentially accelerating the development of new and effective drugs to improve healthcare outcomes and lower research costs”, said Dr. Su Yi, Executive Director, A*STAR’s Institute of High Performance Computing.
"I am excited to start this new collaboration between our scientific experts in Singapore and the multinational company Quantinuum. We bring know-how in quantum algorithms and computational biology to work with the Quantinuum team, which is building some of the highest performing quantum computers available in the world today," said Professor José Ignacio Latorre, CQT Director and lead Principal Investigator for the National Quantum Computing Hub.
“The past year has seen a worldwide trend of accelerated efforts to integrate and co-locate supercomputers and quantum computers, which reflects the strong symbiotic relationship between classical and quantum systems. Singapore’s tie-up with Quantinuum will be a significant step in helping NSCC learn, plan and develop our future hybrid computing infrastructure to serve the needs of our research community,” said Terence Hung, Chief Executive, National Supercomputing Centre Singapore.
“This partnership with Quantinuum will boost Singapore’s digital ecosystem as researchers and companies will be able to participate in the development and experimentation of advanced quantum-based techniques. Quantinuum’s investment in Singapore will deepen our capabilities in Quantum Computing and catalyse innovation in globally relevant areas of scientific discovery such as computational biology," said Philbert Gomez, Vice President and Head, Digital Industry Singapore.