J.P. Morgan to work on quantum algos with Honeywell, quantum computer launching in 3 months

Honeywell announced it will release the world’s most powerful quantum computer within the next three months. In addition, it’s made strategic investments in two leading quantum computing software providers, Cambridge Quantum Computing (CQC) and Zapata Computing, which will work together to develop quantum computing algorithms with J.P. Morgan.

“Honeywell’s unique quantum computer, along with the ecosystem Honeywell has developed around it, will enable us to get closer to tackling major and growing business challenges in the financial services industry,” said Marco Pistoia, managing director and research lead for Future Lab for Applied Research & Engineering (FLARE) at J.P. Morgan, in a statement.

Within the next three months, Honeywell will bring to market the world’s most powerful quantum computer in terms of quantum volume, a measure of quantum capability that goes beyond the number of qubits. Quantum volume measures computational ability, indicating the relative complexity of a problem that can be solved by a quantum computer. When released, Honeywell’s quantum computer will have a quantum volume of at least 64, twice that of the next alternative in the industry.

In a scientific paper posted on arXiv, Honeywell has demonstrated its quantum charge coupled device (QCCD) architecture, a major technical breakthrough in accelerating quantum capability. The company also announced it is on a trajectory to increase its computer’s quantum volume by an order of magnitude each year for the next five years.

“Quantum computing will enable us to tackle complex scientific and business challenges, driving step-change improvements in computational power, operating costs and speed,” said Honeywell chair and CEO Darius Adamczyk, in a statement. “Materials companies will explore new molecular structures. Transportation companies will optimize logistics. Financial institutions will need faster and more precise software applications. Pharmaceutical companies will accelerate the discovery of new drugs.”

Honeywell first announced its quantum computing capabilities in late 2018, although the company had been working on the technical foundations for its quantum computer for a decade prior to that. In late 2019, Honeywell announced a partnership with Microsoft to provide cloud access to Honeywell’s quantum computer through Microsoft Azure Quantum services.

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