Quantum technology may finally reach that moment.
Consider earlier this month that Rigetti Computing, one of the few “pure” quantum technology companies in the world, was unveiled in a merger with a special purpose company or SPAC. When another company, IonQ, was unveiled in October through the merger of SPACs, it slightly missed becoming the first listed company with a clear focus on the commercialization of quantum technology. Meanwhile, another rival in the field, D-Wave, said it also plans to publish via SPAC.
The move to the public market is one indicator that quantum technology is advancing beyond the realm of theory, but with a stronger signal that it is ready for a close relationship with Alphabet. Yes, this morning we announced a 6-year spinout. -Turn the old quantum technology group Sandbox AQ into an independent company.
Former sandbox AI and Quantum director and long-time director of X-Prize, Jack Hidary will continue to lead the costumes of 55 people in Mountain View, California. Products for telecom, financial services, healthcare, government, computer security and other sectors.
Sandbox has also gathered enviable advisors, including former Alphabet Chairman and CEO Eric Schmidt. Blythe Masters, a former JP Morgan Chase executive who helped create credit default swaps. John Seely Brown, former chief scientist at Xerox PARC.
In particular, the sandbox is funded by private “9-digit” funds. Among the new external investors is Breyer Capital, whose founder Jim Breyer has also joined the Sandbox Advisory Board. Accounts advised by Section 32, Guggenheim Investments, Time Investments, and T. Low Price Associates are also included in the investor composition.
Indeed, market demand partially explains Alphabet’s decision to spin out Sandbox. By next year, 20% of global organizations are expected to budget for quantum computing projects, up from less than 1% in 2018, according to Gartner.
Among the customers who are already paying for the computing power of the sandbox are Vodafone Business, SoftBank Mobile and Mount Sinai Health Systems.
However, judging from recent chats with Breyer, perhaps an even greater impetus for growing interest in quantum technology is the perception of true, fault-tolerant quantum computing. This means that quantum physics can be used to open up many possibilities and the expected results — which can be more than five years away, but other related technologies such as so-called quantum sensing technologies—are rapidly becoming reality. Is becoming.
In fact, instead of working on quantum computers, Sandbox focuses on how quantum technology intersects AI, and is developing applications that specifically enhance cyber security platforms. In the company’s own words, “[T]Here are many aspects of quantum physics and technology that can be commercialized in the short term using today’s high-performance computers without the need for quantum computers. The resulting “quantum simulation can address real-world business and scientific challenges across a wide range of industries, from financial services and healthcare to aerospace and manufacturing, telecommunications and materials science.”
The statement reflects a few weeks ago when Breyer said, “There are tremendous national security opportunities for quantum companies.” But from an investment perspective, what I’m really excited about today is not necessarily the big, super-capital-intensive quantum computers … but in areas like quantum sensing. “
Consider a very powerful 1,000x optical microscope that can be applied in medicine. Breyer provided as an explanation. “Today, we have quantum sensing technology that is being piloted in some of the best hospitals in the United States, and I think it will revolutionize areas such as cardiology. [and] Drug discovery. “
Indeed, Breyer said that quantum computing platforms will eventually play a role in catching illnesses faster, improving security systems, and protecting all kinds of data, but of these systems It can also be used to attack some. We are no longer waiting for these giant quantum computers, including governments and businesses, to arrive. In any case, you shouldn’t. “We need to fold our arms around it,” he said.
“Currently, quantum computing isn’t a breakout point in four or five years, but there are quantum technologies that are making a huge difference,” he said. The sandbox team he proposed at the time was one of the teams responsible for it.