QxBranch

QxBranch, Inc. (QxBranch) is a data analysis and quantum computing software company, based in Washington, D.C.[1] The company provides data analytics services and research and development for quantum computing technology.[2] On July 11, 2019, QxBranch announced that it had been acquired by Rigetti Computing, a developer of quantum integrated circuits used for quantum computers.[3]

QxBranch, Inc.
TypePrivately held company
IndustryComputer software
FoundedSeptember 10, 2014 (2014-09-10)
Headquarters
Washington, DC
,
United States
Area served
Washington, D.C.
Adelaide, Australia
London
Hong Kong
Key people
Dr Ray O. Johnson (Executive Chair)
Michael Brett (CEO)
Paul Guthrie (Chief Strategy Officer)
Number of employees
Approx. 15[1]
Websitewww.qxbranch.com

Services

QxBranch provides predictive analytics services to firms in the banking and finance industries.[2] The company also develops software products for quantum computing technologies,[4] including developer tools and interfaces for quantum computers,[5][6] as well as quantum computing simulators.[7][8][9] Additionally, the company provides consulting and research and development for businesses that may be improved through quantum computing methods, including in the development of adiabatic quantum computing methods for machine learning applications.[10]

History

QxBranch was founded in 2014 as a joint spin-off of Shoal Group and The Tauri Group to commercialize quantum computing technology.[11] Shoal Group (named Aerospace Concepts at the time) had a research agreement with Lockheed Martin to access a D-Wave Two quantum computer, and transitioned the access and associated technology to help found QxBranch.[12][13]

In August 2014, QxBranch was selected as one of eight participants for Accenture's FinTech Innovation Lab program in Hong Kong.[14][15]

In May 2015, Dr. Ray O Johnson, former Chief Technology Officer of Lockheed Martin Corporation, joined QxBranch as executive director.[16]

In January 2016, Australian Prime Minister Malcolm Turnbull toured QxBranch's facilities in Washington, D.C. for a demonstration of quantum computing applications.[17]

In November 2016, QxBranch, in partnership with UBS, was announced as a winning bid under the Innovate UK's Quantum Technologies Innovation Fund under the UK National Quantum Technologies Programme.[18] The partnership is working on developing quantum algorithms for foreign exchange market trading and arbitrage.[7]

In April 2017, QxBranch, in partnership with the Commonwealth Bank of Australia, released a quantum computing simulator aiming to enable software and algorithm development to assess the feasibility and performance of applications ahead of the development of silicon-based quantum computers.[8][19][9] The simulator was modeled on the hardware being developed by the University of New South Wales and made accessible as part of the bank’s internal cloud-based systems, allowing developers to design and evaluate software and algorithms concurrently with the hardware's on-going development.[20]

In February 2018, QxBranch demonstrated a quantum deep learning network that simulated the 2016 US Presidential Election, resulting in slightly improved forecasts of the election outcome over those of forecasting site Five Thirty Eight.[21]

In April 2018, IBM announced a collaboration with QxBranch and other companies for research access to its IBM Quantum Experience quantum computers.[22]

Locations

QxBranch is headquartered in Washington, D.C. and has an engineering team in Adelaide, Australia,[17] as well as offices in London[18] and Hong Kong.[15]

See also

References
  1. Jayakumar, Amrita (4 May 2015). "Can quantum computing change the world? This start-up is betting on it". The Washington Post. Retrieved 2 September 2016.
  2. Woodhouse, Alice (29 May 2015). "Hong Kong start-up developing quantum computing solutions for banking and finance". South China Morning Post. Retrieved 2 September 2016.
  3. Nott, George (11 July 2019). "Quantum computing firm Rigetti acquires QxBranch". ComputerWorld. Retrieved 11 July 2019.
  4. Thomas, Zoe (5 April 2016). "Quantum computing: Game changer or security threat?". BBC News. Retrieved 14 March 2017.
  5. Hodson M, Fletcher D, Padilha D, Cook T (13 September 2016). "Rapid prototyping with symbolic computation: Fast development of quantum annealing solutions". 2016 IEEE High Performance Extreme Computing Conference (HPEC). High Performance Extreme Computing Conference (HPEC), 2016. IEEE. pp. 1–5. doi:10.1109/HPEC.2016.7761632. ISBN 978-1-5090-3525-0.
  6. Dickerson, Kelly (18 April 2015). "Here's why we should be really excited about quantum computers". Business Insider Australia. Retrieved 14 March 2017.
  7. Palmer, Jason (9 March 2017). "Here, There and Everywhere - Quantum technology is beginning to come into its own". The Economist. Retrieved 14 March 2017.
  8. Smith, Paul (10 April 2017). "CBA steps into the future with quantum computing simulator". Australian Financial Review.
  9. Yoo, Tony (10 April 2017). "Commonwealth Bank gets Asia-Pacific's first quantum computing simulator outside university sector". Business Insider Australia.
  10. 田中, 宗 (24 August 2017). "開発競争が過熱--「量子コンピュータ」の国際会議で日本企業は何を語ったか" (in Japanese). ZDNet Japan. Retrieved 24 August 2017.
  11. Tutty, Jacinda (21 September 2015). "US tech expert Michael Brett says computing is about to take a quantum leap". The Courier-Mail. Retrieved 2 September 2016.
  12. Hutchinson, James (20 May 2014). "Aerospace Concepts makes $10m quantum leap". Australian Financial Review. Retrieved 2 September 2016.
  13. Ravindranath, Mohana (1 June 2014). "At 1776, Australian engineering firm sets sights on Defense Department". The Washington Post. Retrieved 2 September 2016.
  14. "Eight Financial Technology Startups Enter the FinTech Innovation Lab Asia-Pacific" (Press release). Accenture. 31 August 2014. Retrieved 14 March 2017.
  15. Groenfeldt, Tom (2 September 2014). "FinTech Innovation Lab in Hong Kong Launches With Eight Firms". Forbes. Retrieved 14 March 2017.
  16. Hadhazy, Adam. "New-Age Computing". Aerospace America. 54, No. 7 (July–August 2016): 25.
  17. Dodd, Tim (12 March 2016). "A revolution is coming in computing and Australia is at the forefront". Australian Financial Review. Retrieved 2 September 2016.
  18. "New winners to be announced at Quantum Technologies showcase" (Press release). Engineering and Physical Sciences Research Council (EPSRC). 4 November 2016. Retrieved 14 March 2017.
  19. McLean, Asha (10 April 2017). "Commonwealth Bank prepares for quantum computing with launch of QxBranch simulator". ZDNet.
  20. Wong, Wei-Shen (3 August 2017). "Quantum Computing: Beyond Zeros and Ones". WatersTechnology.
  21. Ouellette, Jennifer (16 February 2018). "Quantum computer could have predicted Trump's surprise election". New Scientist.
  22. McLymore, Arriana (5 April 2018). "IBM Partners With D.C. Startup to Develop Quantum Computing". AMERICAN INNO.
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