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Tag: Quantum Computing

The Road to Post-Quantum Cryptography

What does the future hold for quantum computing, and are we on the brink of a major breakthrough? Recent advancements by industry giants and startups suggest we’re closer than ever to realizing the potential of this transformative technology.

In 2019, researchers at Google built a programmable quantum computer that achieved quantum supremacy. That is, it performed a task that no traditional computer could perform in a reasonable amount of time. In this case, quantum computing researchers performed a test computation in about 200 seconds that would have taken a supercomputer using today’s best algorithm thousands of years to calculate.

However, the continued development of quantum computers faces several technical hurdles. Qubits, which are the basic building blocks of quantum computers, are extremely sensitive to outside interference. To really use quantum computers, researchers need better ways to correct the errors created by that interference.

“The field has seen significant progress recently, driven by improvements in qubit quality, error rates and scalability, alongside substantial investments from large tech companies and startups,” said IEEE Senior Member Kevin Curran. “A key challenge remains in error correction, with advancements here being potentially transformative. Additionally, the development of new quantum algorithms could significantly enhance the utility of quantum computers.”

Here, he discusses recent advances in quantum computing, what’s holding the technology back and the leading edge of post-quantum cybersecurity.

Can you discuss any major developments in quantum computing that have increased the accessibility of quantum computers?

“In recent years, quantum computing has made significant strides across several key areas. The availability of quantum computing through cloud services by major tech companies has democratized access, enabling more widespread research and development. There has been substantial growth in hybrid quantum-classical algorithms, which combine classical and quantum computing strengths to tackle complex problems.

“Researchers have also expanded the portfolio of quantum algorithms with potential exponential speed-ups over classical methods, finding applications in diverse sectors such as pharmaceuticals, finance and material sciences. These developments signal a shift towards more practical and impactful quantum computing applications soon.”

What is your view on the future of quantum computing and the likelihood of a near-term breakthrough?

“Predicting a near-term breakthrough in quantum computing is complex due to the interplay of technological advancements and theoretical innovations. While many experts suggest that practical, scalable quantum computers that consistently outperform classical systems may still be a few years away, there is optimism about achieving specific milestones soon. The next five to 10 years will likely be crucial for witnessing significant advancements in this area.”

Y2Q stands for years-to-quantum, a shorthand for the point at which quantum computers can crack current encryption algorithms. What’s your perspective on this milestone?

“It’s crucial because quantum computers could potentially decrypt data previously thought to be secure, affecting everything from government communications to private internet transactions. Those most at risk include governments, financial institutions, technology companies, healthcare organizations and anyone relying on secure internet use.”

What’s the status of post-quantum encryption algorithms?

“Quantum-resistant cybersecurity algorithms, developed to secure communications against the potential threats of quantum computers, are rooted in mathematical problems believed to withstand classical and quantum attacks. The ongoing standardization efforts by the National Institute of Standards and Technology (NIST), which began in 2016, are critical in evaluating these algorithms for security and practicality, enhancing confidence in their robustness.

“Besides the efforts by NIST to standardize post-quantum cryptography, there are several other emerging standards and algorithms in the field of quantum computing. These include the Internet Engineering Task Force and the European Telecommunications Standards Institute, which also focus on quantum-resistant cryptographic standards.”

How confident are you in these quantum-resistant algorithms?

“While these post-quantum cryptography systems are well-understood, they haven’t been tested as extensively as traditional cryptographic methods.

“As the cryptographic community continues to scrutinize and improve these algorithms, our confidence in them grows. However, this is a gradual process contingent on further research and adaptation to emerging threats. Therefore, while there is promising progress in the development of quantum-resistant algorithms, a cautious approach remains prudent as the field evolves.”

Indxx Licenses Artificial Intelligence & Big Data Index to Global X Japan for an ETF

July 25, 2024 – Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx Artificial Intelligence & Big Data Index to Global X Japan. The Index serves as the underlying benchmark for the Global X Artificial Intelligence & Technology ETF (Ticker: 223A), which started trading on the Tokyo Stock Exchange today.

The Indxx Artificial Intelligence & Big Data Index is designed to track the performance of companies that are positioned to benefit from the development and utilization of Artificial Intelligence (“AI”) technology in their products and services, as well as companies that produce hardware used in AI applied for Big Data analysis.

Rahul Sen Sharma, President and Co-CEO at Indxx said, “The advancements in Artificial Intelligence and Big Data have ushered in a new era of innovation and economic growth. The global AI market was valued at $196.63 billion in 2023 and is projected to reach $1,811.75 billion by 2030.1 On the other hand, the Big Data market is anticipated to reach $401.20 billion by 2028, with an estimated CAGR growth rate of 12.7% from 2023 to 2028.2 This rapid expansion is a testament to the immense potential within the AI & Big Data sectors. This marks the sixth product tracking the Index, with other funds having over $2 billion in assets tracking them cumulatively. The success of these funds reflects increasing investor confidence in these transformative technologies. We are excited to partner with Global X Japan to bring this innovative investment strategy to the Japanese market.”

Vaibhav Agarwal, Chief Product Officer at Indxx, added, “The Indxx Artificial Intelligence & Big Data Index employs a research-focused methodology to provide access to leading companies engaged in the development of AI & Big Data, along with the companies offering AI-related hardware, encompassing Artificial Intelligence Developers, Artificial Intelligence-as-a Service (“AIaaS”), Artificial Intelligence Hardware, and Quantum Computing. By partnering with Global X Japan, we are thrilled to allow a new cohort of investors to increase their exposure to global AI & Big Data leaders.”

As of July 25, 2024, the index has 84 constituents. The index has been backtested to January 31, 2014, and has a live calculation date of May 2, 2018. For additional information, please see here.

1. Grand View Research 2. MarketsandMarkets

About Indxx

Founded in 2005, Indxx aims to deliver innovative and custom indexing and calculation solutions to the investment management community at large.

Indxx and products tracking its indices have been nominated for and received numerous awards, including ‘Index Provider of the Year’ at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, ‘Best Index Provider – Emerging Markets ETFs’ at the ETF Express US Awards in October 2020, and ‘Most Innovative ETF Index Provider Americas’ at the 14th Annual Global ETF Awards in July 2018.