Rigetti’s UK subsidiary announced that it was awarded an Innovate UK grant along with Amazon Web Services, Imperial College and Standard Chartered. The consortium aims to use quantum computing to improve current classical machine learning techniques used by financial institutions to analyze complex data streams.
Using Rigetti’s quantum computer and software, Standard Chartered’s datasets and classical benchmarks, Imperial College London’s expertise on classical machine learning models for data streams, and AWS classical high performance computing resources, the consortium will aim to address the following research objectives:
- further develop quantum signature kernels and quantum-enhanced feature maps,
- benchmark the results against classical machine learning methods for streamed data, and
- build and study quantum algorithms for computing signatures and signature kernels for long and high-dimensional data streams efficiently.
“Developing quantum-enhanced machine learning solutions could enable financial institutions to use the full capability of NISQ-era computing, and has the potential to accelerate our work towards narrow quantum advantage, the point at which a quantum computer outperforms the best classical resources,” said Rigetti CEO Subodh Kulkarni in a statement. “Collaborating with leading UK financial institutions, AWS, and universities should give us the insight we need to advance the development of quantum applications for the finance sector, and many other industries with complex datasets.”
“Quantum computing, like previous and current major advancements in technology, is poised to deliver extensive advantages while simultaneously causing significant disruptions to established business processes. This is why it’s important for companies to future-proof themselves by adopting this new technology from an early stage. Our collaboration with Rigetti, Imperial College London, and AWS gives us access to high-performance computational resources and quantum algorithm expertise that could strengthen our position as an industry leader in a future quantum-ready economy,” said Craig Corte, global head of Digital Channels and Client Data Analytics at Standard Chartered.