Classiq Technologies, a quantum computing software company, has achieved significant compression of quantum circuits in implementing quantum algorithms for Monte Carlo simulations. This project, conducted by Sumitomo Corporation using Classiq’s technology and Mizuho-DL Financial Technology Co., Ltd.’s algorithms, aims to accelerate practical applications of quantum algorithms in finance.
Monte Carlo simulations are widely used in finance for derivative pricing and risk evaluation, but they require high computational costs and long processing times. Quantum computing offers the potential to handle these simulations more efficiently, providing benefits in speeding up calculations and improving risk assessment accuracy.
By applying Classiq’s quantum circuit compression technology, the project achieved up to 95% compression in quantum circuits for two types of Monte Carlo simulations designed for credit portfolio risk management. This compression resulted in improved computational efficiency on quantum hardware and enhanced scalability for larger financial problems.
These findings represent a significant advancement in the practical implementation of quantum computing in finance, demonstrating that large-scale probabilistic simulations for financial risk management may be feasible. The reduced circuit depth also improves fault tolerance, minimizing the impact of noise and improving execution accuracy of quantum algorithms on quantum hardware.
Classiq Technologies provides a platform that simplifies quantum programming, making it accessible to developers with various backgrounds. The company’s core technology, algorithmic quantum circuit compilation, is designed to power the quantum ecosystem and scale for the future. Investors in Classiq include HPE, HSBC, Samsung, Intesa Sanpaolo, and NTT.
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