Quantum Computing is the next generation of advanced computing technologies that will solve some of the most challenging and complex problems that humanity faces. The world has already seen quantum supremacy experiments accomplished in 4 minutes with a quantum computer that would have taken 10,000 years for the fastest supercomputers to solve.
Quantum computers are made up of qubits that are analogous to bits in classical computers. The qubits harness the laws of quantum mechanics to process information in a way that is much faster than classical computers. Specifically, qubits exist in superposition states that give them an exponentially larger state space. In this sense, N qubits are equivalent to 2N classical bits. Properties such as entanglement and superposition provide the quantum computer the capability to turbo-charge computations.
Quantum computers have been decades in the making. Hailed as the next big thing with the potential to address many of today's unsolvable problems, the quantum computing market is expected to reach US$1.76 billion by 2026, fueled by investments from the public sector for research and development. Many hardware technologies such as superconducting, ion-traps, neutral atoms, and semiconductor qubits are picking up momentum as potential candidates.
2023 will be the year of quantum breakthroughs with major advancements in hardware technologies, quantum software development, and hybrid quantum-classical integrations. Many use cases are expected to move out of prototypes to full-scale deployments across industries with the major focus areas being optimization and post-quantum cryptography.
India is a powerhouse of intellectual and technological advances. Already a world leader in software capabilities and one of the focal points of commercial AI technology, India is now expanding its horizon into emerging technologies. Quantum computing is at the forefront of these efforts.
The Government of India has allocated US$ 1 billion towards the National Mission on Quantum Technologies and applications to spur developments in quantum computing, quantum communication, cryptography, and materials science. There has been considerable growth in the number of active projects and US$ 1 billion is expected to be invested in the next five years according to NASSCOM reports. QpiAI is setting up a 25-qubits machine that would be india’s most powerful quantum computer and also the first commercially available device for enterprises.
Quantum computing will have a transformative impact on industries such as healthcare, pharmaceuticals, financial services, logistics and supply chain management, transportation, energy, and urban mobility. Many high-impact quantum technologies developed by our team are already benefiting the logistics and transportation sector enabling solutions to large-scale complex problems in optimization use cases. Other near-term high-value solutions that are expected to disrupt pharmaceuticals, energy, and materials domains are already proving to be useful with AI-integrated hybrid quantum-classical technologies. Potentially, every industry that faces complex computational challenges and requires large-scale problem-solving will be impacted by quantum computing.
QpiAI is leading the efforts in developing advanced modeling, compute, and automation technology for the next level of digital transformation across enterprises. We bridge the gap between advanced AI and quantum technology solutions and their applicability across industry use cases to provide tangible benefits today and much larger benefits in the future.
Our flagship AI Modeling Platform QpiAI™Pro is an award winning (2021 NASSCOM Best Product Award in the Enterprise Category) software offering end-to-end integration of AutoML and MLOps. It simplifies enterprise AI solution development with a low-code development environment and our patented “Tag-and-Submit” collaborative workflow. It has a roadmap to be integrated with Quantum Modeling in future that could enable 100x speedups in complex machine learning tasks.
We are working in enabling quantum technology adoption by developing use cases in the financial services, logistics, supply chain, pharmaceutical, and energy industries. Our solutions solve some of the most challenging problems in optimization, simulation, and machine learning. For one of the quantum machine learning use cases in credit card lending optimization, our algorithm provided up to 20x speedups in training time with around 2%-3% improvement in accuracy on production-scale client data.
Our quantum-inspired optimization solver QpiAI™Opt can solve combinatorial optimization problems in real-time for over millions of decision variables and constraints. For a client use case in logistics optimization, we have developed solutions that enabled 60% cost reduction and 47% better capacity utilization with 72x speedups. The solution involved routing 400+ trucks for pickup and delivery optimization across 1100+ locations while minimizing the total distance traveled. We are working with Mahindra Logistics to solve another similar routing use case at scales that were previously intractable. The same technology can address real-world complexities and enable mitigate risks, and move towards an optimal, sustainable, and robust supply chain.