Artificial Intelligence
IDTechEx Asks Which Real-World Applications Commercial Players Are Developing With Quantum Computers Today
BOSTON, May 23, 2024 /PRNewswire/ — The risk of missing out on the competitive advantage quantum computing offers is rising. Governments and private investors worldwide are placing multi-billion-dollar bets that the industry will produce huge long-term returns. Yet, for this to be realized, the theoretical advantage of quantum computers must be translated into real-world commercial value. In this article, IDTechEx explores which applications are being developed today across the materials, chemical, automotive, finance, and healthcare industries.
For more information on the technology differentials of quantum computing hardware platforms, timelines for commercial readiness, and twenty-year market forecasts, see the IDTechEx report, “Quantum Computing Market 2024-2044: Technology, Trends, Players, Forecasts”.
The quantum advantage simplified
Quantum computers use quantum bits instead of classical bits. Their special quantum properties allow them to represent both a ‘1’ and a ‘0’ at once in superposition and work together in an entangled group. Without understanding the physics behind this and how it works, what matters most from an end-user perspective is its impact on computational capabilities. In a classical machine, N number of bits can represent N number of states. By contrast, in a gate-based quantum computer N number of qubits can represent 2N number of states. Or, as put by Sir Peter Knight at the New Scientist Emerging Technology Summit 2024, just 300 good qubits could represent more states than there are atoms in the visible universe. This not only exponentially reduces the time it can take to solve certain existing problems but also provides a means to tackle harder and more complex ones.
For now, classical supercomputers have trillions of classical bits, and many quantum computers available only have a handful of useful qubits. Yet as worldwide efforts are concentrated on scaling up the hardware, end-users are already developing real-world use-cases. This trend can be found across multiple industry verticals, with many players angling to become early adopters and realize a competitive advantage as soon as it is available.
A qualitative assessment of how timelines to commercial value can be tracked by the use-case development stage of end-users and the progression in hardware development. The marker of ‘today’ is an average across both gate-based and annealing platforms. Source: IDTechEx
Material simulation: drugs discovery and battery chemistry
Simulating material properties at the nanoscale, or other words at the atomic level, is incredibly compute-intensive with classical machines. Moreover, some of these simulations have a reputation for not being particularly accurate—for example, predicting that an insulating material will be a conductor.
This has an impact in fields dependent on material discovery and simulation across many industry verticals, which is infamous for being a very time-consuming and costly experimental process. However, in parallel with the interest in materials informatics to solve this challenge are many investigations into the application of quantum computing to significantly accelerate materials discovery timelines.
One important example of this is within drug discovery. Players such as Janssen Pharmaceuticals are investigating how quantum computing can be used to make screening of potential drug candidates more efficient, as well as be applied for molecular simulations. This work can specifically relate to the applications in crystal structure predictions or binding affinity, as well as property predictions, including toxicity.
Material property simulation and target finding are also high-value problems in battery chemistry innovations. While classical approaches to materials informatics based on classical computing can enhance our understanding of battery chemistry, it is likely to remain less efficient than quantum computing at modeling chemical reactions at a molecular or sub-atomic level. Simulations of electron interactions can also provide a more accurate understanding of chemical reactions at anodes and cathodes, such as the degradation-inducing formation of oxides. Quantum computing can thus accelerate the development of higher-performance batteries by performing calculations beyond the capability of their classical counterparts.
Banking and Finance: pricing optimization and fraud detection
The finance sector has been amongst the earliest to engage with quantum technology. This is in part because of the criticality of robust data security in finance and, as such, preparing for the risks posed by quantum computing alongside the integration of quantum communications solutions such as quantum key distribution and post-quantum cryptography.
However, beyond the quantum risks to finance, there are also a host of potential opportunities, specifically in pricing optimization and fraud detection. With quantum computing, pricing optimization could consider many more influencing factors than it does today, evaluating the combined impact of currency, location, sustainability, supply chain, geopolitics, and more. As for fraud detection, the capability to analyze banking activity with a quantum computer could make security protocols much more streamlined. The erroneously blocked card upon the purchase of the first holiday coffee would become a thing of the past.
At the 2024 New Scientist Emerging Technology Summit, HSBC outlined their strategy of building dedicated in-house expertise to develop quantum-ready products in these areas – which can be deployed as soon as the hardware is ready. Yet HSBC are not alone in exploring quantum computing – indeed, there is activity from Goldman Sachs, JP Morgan, Barclays, Mastercard, Citi, and many more. However, some of these companies are choosing to use third parties to build use cases rather than invest in in-house teams. In the current era of a quantum talent shortage, particularly within industry, the role of the expert middleman is looking particularly lucrative.
Automotive and Aerospace: Fluid dynamics and the paint shop problem
The mega-trends in future mobility are broadly electrification and autonomy. Of course, the applications in battery chemistry simulations are of keen interest to the automotive community – who are amongst the most active in this research area from a commercial side. This is covered in much more depth in the IDTechEx Quantum Computing report. However, outside of material discovery – quantum computing also offers an edge in other areas, such as fluid dynamics and logistics.
Computational fluid dynamics (CFD) simulations are a crucial part of the design process within both automotive and aerospace. However, for very complex scenarios, the hypothesis of industry leaders such as Rolls Royce is than for iterative design of jet engine designs – the efficiency of a quantum solution could be hugely valuable.
By contrast, the application of quantum computing to logistics and operations more widely could be transformative. The multi-car paint shop problem is an example similar to the pricing optimizations within finance, whereby workflow scheduling, which accounts for a higher number of variables, will likely be better solved with a quantum computer. For example, D-wave are already ramping up productions scale deployment of an auto-scheduling product using annealing with partners of the Pattison Food Group.
Market Outlook and Conclusions
Overall, the general themes of ‘optimization and complex simulation problems’ come up time and time again as killer applications for quantum computers. Across the pharmaceutical, chemical, healthcare, automotive, finance, aerospace industries, and more – quantum expertise is rising in value.
Even though skepticism remains in some instances as to the likelihood of a universal, large-scale fault-tolerant quantum computer ever being realized as promised, there is even more disagreement as to what timelines value will realistically be realized within each industry.
Yet, for many, the risk of missing out and falling behind is too high not to engage. Looking ahead, IDTechEx anticipates the rising awareness of the risks posed by quantum technology, specifically within quantum communications and data security, will likely become a gateway for more commercial players to begin considering the opportunities quantum computing could bring them. Going forward, potential end-users must tread the line of being neither too cautious nor too enthusiastic in response to ‘quantum hype’.
With so many competing quantum computing technologies across a fragmented landscape, understanding the differences between each approach is essential in identifying realistic opportunities for growth within this exciting industry. IDTechEx’s report “Quantum Computing Market 2024-2044: Technology, Trends, Players, Forecasts” covers the hardware that promises a revolutionary approach to solving the world’s unmet challenges. Drawing on extensive primary and secondary research, including interviews with companies and attendance at multiple conferences, this report provides an in-depth evaluation of the competing quantum computing technologies: superconducting, silicon-spin, photonic, trapped-ion, neutral-atom, topological, diamond-defect, and more.
To find out more about this report, including downloadable sample pages, please visit www.IDTechEx.com/QuantumComputing.
For the full portfolio of quantum technologies market research from IDTechEx, including the broader Quantum Technology Market and more in-depth research relating to Quantum Communications and Quantum Sensors, please visit www.IDTechEx.com/Research/Quantum.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com.
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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Powerful Audio Effects for a Live Stadium Experience
The Toshiba TV Z670’s powerful audio system makes viewers feel like they’re right in the game. With the REGZA Bass Woofer Pro, Tru Bass Booster, and Dolby Atmos, they’ll experience heart-thumping 3D surround sound that captures the live stadium atmosphere. Whether it’s the roar of the crowd or the intensity of each play, the rich audio brings the excitement of each game right into their room.
Bringing Everyone Together for UEFA EURO 2024™
Available in sizes ranging from 55″ to 85″, Z670 is equipped with a Wide Viewing Angle and Anti-reflection features that ensures a clear picture from all viewing positions with the non-glare panel. Gather everyone for “Brilliant Every Moment” in UEFA EURO 2024™ with Toshiba TV!
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About Toshiba TV:
With 70+ years of history in TV production, Toshiba TV is known for its exquisite craftsmanship, innovative ideas and groundbreaking inventions. By prioritizing superior image quality and auditory experiences, Toshiba TV sets new standards in entertainment. Toshiba TV stems from the excellence quest of customers, providing the world with responsible products to make the world a better place. Emphasizing attention to product details and technological advancement, Toshiba TV integrates aesthetically pleasing design, quality assurance, and brand reputation to underscore its commitment to authenticity in the actual world and a sincere dedication to its consumers, showcasing Toshiba TV’s long-standing design philosophy and continuous pursuit of product quality.
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