PALM BEACH, Fla., Dec. 12, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Quantum Computing is on the forefront of technological innovation. As the next evolution in computational science, quantum computing leverages the principles of quantum mechanics to perform complex calculations exponentially faster than traditional computers. Quantum-classical computing can process large amounts of data in parallel, making it ideal for modeling complex systems like weather. According to a report from Quantum Zeitgeist, the global weather forecasting market, valued at $2.39 billion in 2022, is expected to grow over 6% annually in the next six years. The report said: “A non-profit research corporation and an international bank are exploring the use of hybrid quantum-classical computing to improve weather forecasting. The researchers are testing a flexible Hybrid Quantum Reservoir Computing (HQRC) algorithm on weather-related problems. The Potential of Quantum-Classical Computing in Weather Forecasting - Weather systems are inherently complex, with numerous variables interacting in nonlinear ways. Traditional computational methods often struggle to accurately capture the intricacies of these systems due to the high computational demands required for predictability. Small errors in models can lead to significant divergences in forecast outcomes. However, quantum-classical computing offers a promising avenue due to its ability to process vast amounts of data in parallel, making it well suited for modelling chaotic systems.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum Inc., (NYSE: QBTS), IonQ (NYSE: IONQ), Quantum Computing Inc. (NASDAQ: QUBT).

Quantum Zeitgeist continued: “In 2022, the global weather forecasting market reached a value of USD 2.39 billion, with projections indicating a Compound Annual Growth Rate (CAGR) of over 6% in the next six years. This growth is primarily driven by the escalating demand for accurate forecasts amidst unpredictable climate conditions and energy transitions. A large proportion of the forecasts relate to precipitation forecasting, which is vital to businesses and industries worldwide who need to leverage forecasting solutions to optimize operations and proactively manage risks associated with weather-related impacts. Weather prediction is uncertain due to the chaotic behavior in atmospheric dynamics. Chaotic systems are important given their prevalence in phenomena like climate patterns, weather dynamics, and financial markets. Forecasting these chaotic systems is a challenge in computational science due to the complexity of their behavior, with small errors in initial conditions or model parameters leading to significant divergences in forecast outcomes. Quantum computing holds tremendous potential to process the vast amounts of data required for accurate forecasting.”

ZenaTech Inc.’s (NASDAQ:ZENA) Launches Quantum Computing Project for Traffic Optimization and Weather Forecasting using Drones – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions, Drone-as-a-Service (DaaS), Quantum Computing solutions, and enterprise SaaS (Software-as-a-Service) solutions, today announces the launch of a Quantum Computing project for traffic optimization and weather forecasting using the company’s drones. The project, called Sky Traffic, was developed following interest received from a government client to use the company’s ZenaDrone 1000 drones to monitor vehicle traffic.

The project will provide real-time traffic data to both the government agency and to drivers, with a goal of improving the precision, accuracy and speed of information to optimize functions such as traffic flows and routing, traffic signal management, public safety, and deployment of government services. This is achieved by accessing larger datasets and more computing power more rapidly than current methods. ZenaTech’s Quantum Computing team will leverage Amazon Web Services (AWS) as its computing platform to manage the project. The company also plans to utilize Sky Traffic with ZenaDrone 1000 drones in weather radar applications for faster and more precise weather forecasting.

“The Sky Traffic project is an important and exciting application of our product capabilities and team knowledge into the Quantum Computing area. Integrating quantum computing with AI-driven drones will revolutionize how we analyze and respond to complex data, enabling faster, more accurate decision-making and unlocking new possibilities in automation, efficiency, and real-time problem-solving,” said CEO Shaun Passley, Ph.D.

Quantum computing is an emergent field of cutting-edge computer science harnessing the unique qualities of quantum mechanics to solve problems beyond the ability of even the most powerful classical computers of today, to process massively complicated mathematical problems and data at orders of magnitude faster speeds.

Drones are used by governments to monitor and improve road traffic by providing real-time aerial surveillance of traffic conditions, and identifying congestion, accidents, and bottlenecks. Equipped with cameras, sensors, and GPS, drones can collect data on vehicle flow, enabling authorities to optimize traffic signals, redirect traffic, and plan infrastructure improvements and emergency management based on real-time insights. Quantum Computing can supercharge the speed and precision of these applications.

Drones are used in weather forecasting to collect real-time atmospheric data from hard-to-reach areas, such as storm systems or remote regions, providing valuable input for weather models. Quantum computers can then analyze this vast and complex data much faster and more accurately, improving weather predictions and enhancing the ability to forecast extreme events like hurricanes or tornadoes.  Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the technology industry include:

Quantum Machines, the leading provider of processor-based quantum controllers and Rigetti Computing (NASDAQ: RGTI), a pioneer in full-stack quantum-classical computing, recently announced the successful application of AI to automate the calibration of a quantum computer. The work was completed as part of the “AI for Quantum Calibration Challenge” (the “Challenge") that was jointly issued by Rigetti and Quantum Machines and hosted at the Israeli Quantum Computing Center (IQCC).

The two companies participating in the Challenge, Quantum Elements and Qruise, automated the calibration of a 9-qubit Rigetti Novera™ QPU integrated with Quantum Machines’ advanced OPX1000 control system and NVIDIA DGX Quantum, a unified system for quantum-classical computing that NVIDIA built with Quantum Machines. This achievement not only showcases the potential of AI in quantum computer calibration, but also highlights the growing maturity and collaboration within the quantum computing ecosystem.

D-Wave Quantum Inc., (NYSE: QBTS), a leader in commercial quantum computing systems, software, and services, recently announced financial results for its third fiscal quarter ended September 30, 2024. "Annealing quantum computing is continuing to drive the commercial adoption of quantum technology," said Dr. Alan Baratz, CEO of D-Wave. "Organizations around the world – from Vinci Energies in Europe to NTT DOCOMO in Japan – are recognizing the value our technology can bring right now in fueling new discoveries, facilitating operational excellence and driving measurable outcomes."

As of September 30, 2024, D-Wave’s consolidated cash balance totaled $29.3 million and, subsequent to the end of the third quarter, D-Wave paid off the remaining balance of the $50 million four-year term loan agreement with PSPIB Unitas Investments II Inc.

On April 12, 2024, the Company’s $175 million shelf registration statement on Form S-3 went effective and, on May 24, 2024, the S-3 was partially used for a $100 million At-The-Market ("ATM") program. As of September 30, 2024, D-Wave had $79.1 million of issuance capacity under the ATM program.

IonQ (NYSE: IONQ), a leader in the quantum computing and networking industry, recently announced the delivery of IonQ Forte Enterprise to its first European Innovation Center at the uptown Basel campus in Arlesheim, Switzerland. Achieved in partnership with QuantumBasel, this major milestone marks the first datacenter-ready quantum computer IonQ has delivered that will operate outside the United States and the first quantum system for commercial use in Switzerland.

Forte Enterprise is now online servicing compute jobs while performing at a record algorithmic qubit count of #AQ36, which is significantly more powerful than the promised #AQ35. With each additional #AQ, the useful computational space for running quantum algorithms doubles. A system with #AQ36 is capable of considering more than 68 billion different possibilities simultaneously. With this milestone, IonQ once again leads the industry in delivering production-ready systems to customers.

Quantum Computing Inc. (NASDAQ: QUBT) recently announced the Company has received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin. The order will support the research efforts of the University's RF Acoustic Microsystem Group and is part of the QCi Foundry's pilot launch program, with fulfillment expected in Q1 2025.