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Moody's Introduces a Finance-Focused Quantum As a Service Infrastructure

2023-12-07 15:32:40

For a particular job, clients can use the system to measure and contrast quantum and classical algorithms


Source: www.thesslstore.com


QFStudio is a SaaS offering designed to operate as a continuous integration, benchmark index, and delivery platform for quantum computer systems, based on Moody's Analytics blog. Over the coming decades, it is anticipated that the rapidly expanding field of quantum technology will continue to flourish. According to a previous prediction, the market value of quantum computing technology in the United States is expected to increase from around $138 million in 2022 to $1.2 billion before 2030.


In the field of quantum computing, studies and developments are now the main priorities. Quantum, cloud-based quantum, and mixed computing products are available from companies including IBM, Microsoft, Google, D-Wave, and Rigetti; however, the majority of them are targeted at early adopters who are investigating applications.


Within the financial industry, businesses like Multiverse Computing are investigating a concept known as the quantum benefit, which postulates that there are issues that quantum devices can handle but binary systems aren't practical enough to tackle. With a SaaS solution that lets users evaluate the efficacy of conventional and quantum algorithms to choose which is better for their particular issue, QFStudio aims to close the gap among early adopters in the banking industry. The service that it provides will have a web-based interface or API via which consumers can interact.


Quantum Devoid of Expense


Large engineering and maintenance expenses are one of the present drawbacks of quantum computing. Because of their scale and network needs, the most sophisticated systems—like the gate-based quantum computers that are found at numerous colleges and large research labs—are usually only reachable through the use of the cloud.


In this way, quantum algorithms and computing models are accessible to researchers and enterprise clients, without really shouldering the expenditures of equipment maintenance.



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