QxBranch Featured in The Economist
Shoal is proud to see our spin-out company, QxBranch, featured in the most recent issue of The Economist. The 10-page Technology Quarterly spread entitled ‘Here, There and Everywhere’ discusses quantum technology including recent breakthroughs and applications.
The cover leader of the spread provides a sweeping overview of the state of quantum technology. It then goes on to mention QxBranch several times in the article. Interesting excerpts are as follows:
UBS, a big Swiss bank, is working with QxBranch, another start up, on using quantum algorithms in foreign-exchange trading and arbitrage. Hyder Jaffrey, head of Strategic Investments and Fintech Innovation at UBS, says he puts quantum computing in the same category as artificial intelligence and blockchains, “all stuff with the potential to change markets.”
The biggest benefit is expected to come from quantum-computing hardware once it arrives, so much of this business depends on simulating that hardware on standard machines as accurately as possible. Michael Brett, chief executive of QxBranch, says the idea is that “some Tuesday morning when one becomes available we just swap out our simulation for the real hardware.”
QxBranch began as a Shoal (previously, Aerospace Concepts) internal research and development project that utilised access to Lockheed Martin’s D-Wave quantum computer with Bryce Space and Technology (previously, The Tauri Group). It is now a global company providing advanced data and risk analytics and software solutions using quantum technology. Shoal eagerly anticipates further developments by QxBranch in this exciting field.