Standard Chartered and Universities Space Research Association are partners in quantum-inspired machine learning for environmental, social and governance applications
LONDON and WASHINGTON, October 11, 2022 /PRNewswire/ — Advances in quantum computing technology are so broadly applicable in the long term that they could positively impact all 17 of the United Nations Sustainable Development Goals.
The team aims to develop advanced machine learning approaches to predict natural disasters such as floods and hurricanes, and investigate how current generation quantum processors, future quantum computer designs and physics-based hardware solvers could be leveraged to improve beyond the state of the art. Art achievable through classic machine learning techniques.
At Standard Chartered, Elena StrbachGlobal Head of Data Science and Innovation, said, “We are pleased to renew our partnership with our USRA colleagues in an area that is so critical to the bank, our customers and our communities that quantum computing can help transform the global Accelerating the goal of Net Zero, which is so critical to the future of our planet.”
Developing quantum-enabled solutions requires careful testing and evaluation, as well as a deep understanding of the limitations of current and future digital and quantum mechanical approaches. The USRA quantum team at the Research Institute for Advanced Computer Science (RIACS) will test, evaluate, and improve aspects of high-performance classical models, and design hardware-software systems that use the most advanced quantum machines available in the cloud.
Craig CorteGlobal Head of Digital Channels and Client Data Analytics at Standard Chartered, said: “Like other major technological advances, quantum computing will bring far-reaching benefits and disrupt many existing business processes. That’s why it’s important for companies in the future to prove themselves – by adopting this new technology early on. Partnering with USRA gives us access to world-class academic researchers and gives us a unique opportunity to test a wide range of models and algorithms with the potential to explore the real-world use cases to achieve quantum advantages.”
USRA’s Dr. David bellDirector of USRA’s Research Institute for Advanced Computer Science (RIACS), noted, “USRA is committed to improving capabilities in environmental data science to mitigate the impact of disasters such as wildfires and floods. This partnership brings together an interdisciplinary team of scientists in quantum computing, environmental data science, and machine learning to investigate how new technologies can be developed and applied to address computationally intensive problems in environmental, social, and governance (ESG) applications.
The two organizations have previously collaborated at three universities on quantum annealing research, producing technical papers ranging from portfolio optimization to scheduling.
For more information contact:
Standard Chartered:
Shaun Gamble, [email protected]
USRA:
Suraiya Farukhi, [email protected]
About Standard Chartered
We are a leading international banking group with a presence in 59 of the world’s most dynamic markets and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are reflected in our brand promises, here forever. Standard Chartered PLC is listed on the London and the Hong Kong stock exchanges. For more stories and expert opinions, visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn, Instagram and Facebook.
About USRA
Established in 1969 under the auspices of the National Academy of Sciences at the request of the US government, the Universities Space Research Association (USRA) is a non-profit corporation formed to advance space-related science, technology and engineering. USRA operates scientific institutes and facilities and conducts other important research and educational programs. USRA engages the university community and employs in-house scientific leadership, innovative research and development, and project management expertise. RIACS is a USRA division for research in basic and applied information sciences and leads projects in quantum computing.
More information at: https://riacs.usra.edu/quantum/ and www.usra.edu.
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SOURCE Space Research Association of Universities
