Quantum Computing

in Business

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 QUANTUM COMPUTING IN BUSINESS

Table of contents
Quantum Computing in Financial Services:
From portfolio optimization to risk management 2
Quantum computing for portfolio optimization – a case study 3
UST to Superposition your Quantum Journey 3
UST’s expertise for your Quantum Leap 5
Quantum Computing for Machine Learning 7
The Academic Connection 8
You & UST – A Quantum Entanglement  9
Why Start Quantum today?  10
A Call to Action 11
Appendix12
Quantum Computing Terminologies  12
Types of Quantum Computers  13
 QUANTUM COMPUTING IN BUSINESS 1

Imagine a future where businesses can solve problems that were previously
considered impossible. A future where data can be processed and analyzed at a
speed and scale that was once unimaginable. Quantum computing is that future.
Investing in quantum computing is a strategic decision that will provide significant
business benefits and help companies stay ahead of the technological innovation
curve.

Quantum computers use the principles of quantum physics to perform calculations

at a much faster rate than traditional computers. They can solve complex problems
in minutes that would take conventional computers thousands of years to solve.
With quantum computing, businesses can balance portfolios, optimize logistics,
improve supply chain management, and gain insights from big data that were
previously unattainable. It can enhance machine learning and drug discovery and
even simulate the behavior of atoms and molecules. Quantum computing has
the potential to revolutionize many industries by solving complex optimization
problems, improving drug discovery, enhancing machine learning, improving
cryptography, and optimizing logistics and transportation in supply chains. It will be
valuable for businesses in many fields by providing them with new ways to analyze
data, optimize processes and make predictions.

UST specializes in helping businesses and organizations harness the power

of cutting-edge technologies, and quantum computing is one of them. We
provide expert guidance and solutions for utilizing this advanced technology to
solve complex problems, improve decision-making, and drive innovation. From
optimization to portfolio balancing, and machine learning, our team of experts
can help you stay ahead of the curve and unlock the full potential of quantum
computing for your business. Quantum computing can perform advanced
computation using the properties of quantum mechanics, it is a powerful tool
that can improve decision-making, resource allocation, and it has the potential to
revolutionize many industries.
 QUANTUM COMPUTING IN BUSINESS 2

Quantum Computing in Financial Services:

From portfolio optimization to risk management

Quantum computing has the potential to revolutionize the banking and

financial services industry. It can solve complex optimization problems beyond
the capabilities of classical computers, such as portfolio optimization, risk
management, and pricing derivatives. This can lead to improved decision-making
and resource allocation in the financial industry. Additionally, quantum computing
can simulate complex financial systems, such as stock markets, and predict their
behavior. This can help financial institutions to understand and manage risk better.
Another area where quantum computing can be helpful for financial services is
in the field of cryptography. It can be used to break classical encryption methods
and create new encryption methods resistant to quantum attacks, which can have
implications for cyber security and data privacy.

Quantum computing has the potential to revolutionize the banking and financial
services industry by offering new ways to analyze data, optimize processes and
make predictions. Some of the critical use cases of quantum computing in this field
include:

Portfolio optimization Cryptography

Optimize large portfolios of Create new encryption methods that

financial assets and reduce risk are resistant to quantum attacks,
- help financial institutions make which can have implications for cyber
better investment decisions and security and data privacy.
improve returns.

Risk management Machine learning

Simulate complex financial systems Train machine learning models more

and predict their behavior - this can efficiently and effectively, which
help financial institutions better can lead to improved predictions
understand and manage risk. and decision-making in areas
such as finance, healthcare and
transportation.
Pricing derivatives

Price derivatives more accurately

and reduce financial risk.

By leveraging the power of quantum computing, financial institutions can achieve

greater efficiency, accuracy and security in their operations.
 QUANTUM COMPUTING IN BUSINESS 3

Quantum computing for portfolio optimization –

a case study

1QBit and D-Wave Systems used a quantum computing platform to optimize a

portfolio of financial assets for a Central European bank. The bank was looking
to reduce risk and improve returns on its investment portfolio. The team used a
quantum computing platform to model and optimize the portfolio, considering a
wide range of factors such as market conditions, historical data, and risk tolerance.

The quantum computing platform was able to quickly analyze a vast amount
of data and find the optimal portfolio configuration that minimized risk and
maximized returns. The bank achieved a 40% reduction in portfolio risk and a 15%
improvement in expected returns.

This case study illustrates how quantum computing can be applied in real-world
financial applications to help businesses make better decisions and improve
investment returns. It also shows how quantum computing can be used to analyze
large datasets and identify patterns that would be difficult or impossible to detect
using classical computing methods.

UST to Superposition your Quantum Journey

UST has the experience, expertise, and resources to help clients successfully
harness the power of quantum computing to drive innovation and create new
business value. With our academic partnerships and a team of experts with
experience in quantum algorithms and software development, we can help you
understand the potential use cases and benefits of quantum computing for your
specific business or research needs.
 QUANTUM COMPUTING IN BUSINESS 4

UST offers access to leading quantum computing platforms, such as IBM Q, Rigetti
Computing, and Google’s quantum computing cloud service, through which clients
can run quantum algorithms and experiments. We help clients implement hybrid
classical-quantum algorithms and workflows, leveraging the strengths of both
classical and quantum computing.

With our partnership with MIT CSAIL, and Stanford AI Lab, UST provides training
and education services, such as workshops and tutorials, to help clients understand
the basics of quantum computing and how to use the available platforms and tools.
We also assist clients in developing and implementing quantum-based solutions,
such as optimization and machine learning, in solving complex problems in drug
discovery, finance, and logistics.

UST provides expert consulting services on topics like quantum key distribution,
quantum error correction and fault tolerance, quantum algorithms, and quantum
computing architecture and technology. We also provide strategic advice on
investments and partnerships related to quantum computing and help clients
navigate the rapidly evolving quantum ecosystem.

There are many ways UST can help companies to get started with quantum
computing today, from experimenting with cloud-based quantum computing
platforms to developing quantum skills and expertise, identifying potential use
cases, collaborating with research institutions and startups, and participating in
the quantum ecosystem.

• Identify potential use cases: UST • Collaborate with research

helps companies conduct research institutions and startups:
and analysis to identify potential With our academic and industry
use cases and quantum computing partnerships, UST provides
applications that would be relevant assistance to collaborate with
to their business. universities, research institutions,
and startups working on quantum
• Experiment with cloud-based computing to access expertise and
quantum computing platforms: resources.
With our academic and industry
partnerships, UST can help • Invest in quantum computing
companies experiment with IBM R&D: Based on specific use cases,
Q, Rigetti Computing, Google’s UST can provide guidance and a
quantum computing cloud service, roadmap to invest in their research
and others provide access to and development efforts to explore
quantum computing resources the potential of quantum computing
to run experiments and develop for their specific business needs
quantum algorithms, even if a fully- and stay ahead of the curve in terms
fledged quantum computer is not of technological innovation.
yet available.
• Participate in the quantum
• Develop quantum skills and ecosystem: UST arranges for
expertise: UST arranges for companies to participate in various
companies to arrange training and quantum ecosystems, such as
education programs to develop quantum computing conferences,
their employees’ understanding workshops, and meetups, to
of quantum computing and its stay informed about the latest
potential applications. developments and make essential
connections.
 QUANTUM COMPUTING IN BUSINESS 5

UST’s expertise for your Quantum Leap

The quantum computing ecosystem is growing. Providers offer different types
of quantum computers and services, such as simulators, quantum annealers,
and gate-model quantum computers. They also provide different levels of access
to these resources, from open access to paid access and other types of SDKs,
tools, and libraries for quantum computing. UST’s team of quantum experts
have experience and skills in Microsoft, AWS, GCP, and IBM services and tools
for quantum computing. UST partners with all major cloud providers and have
ecosystem partners who specialize in working with hyper-scalers.

For example, Microsoft offers Azure Quantum, which provides access to quantum
computing resources and tools, such as the Q# programming language and the
Quantum Development Kit. They also partnered with IonQ to provide access to
Ion trap quantum computers. AWS offers a service called Amazon Braket, which
includes access to quantum computing resources and tools, such as simulators
and quantum annealers from various providers like D-Wave, IonQ, and Rigetti.
Google Cloud Platform offers a service called Google Cloud Quantum, which
provides access to quantum computing resources and tools, such as the Cirq
 QUANTUM COMPUTING IN BUSINESS 6

SDK and the quantum

computing cloud service.
IBM offers a service
called IBM Quantum,
which provides access
to quantum computing
resources and tools, such
as the IBM Q quantum
computer and the Qiskit
SDK. IBM also provides
access to their quantum
computer via the cloud
and offers various tools
and services, including
the Quantum Experience,
Quantum Composer and

One of the key areas of UST’s expertise is in Q#. Pronounced Q sharp, Q# is

a domain-specific, quantum-focused programming language developed by
Microsoft as part of their Azure Quantum platform. It is used to express quantum
algorithms and programs that can be run on a quantum computer or a quantum
simulator. Q# is designed to be used in conjunction with a classical host language,
such as C# or Python, and provides a set of quantum-specific operations and
types, such as qubits and quantum gates, to build quantum algorithms and
circuits.

The Q# programming language is designed to be easy to learn for developers

already familiar with classical programming. It also provides a set of libraries and
tools that can be used to create, test, and run quantum programs, such as the
Quantum Development Kit (QDK). The Quantum Development Kit (QDK) is a set
of tools and libraries provided by Microsoft for developing and running quantum
programs using Q#. It includes Q# language and compiler, a quantum simulator,
and a set of libraries and tools for working with quantum algorithms, such as
quantum gates, measurements, and error correction.

A company needs to evaluate the providers based on their specific needs and
requirements. UST can help you choose the right provider based on the business
opportunities and use cases.

Several quantum computing SDKs, tools, and libraries are available, including
simulators and toolkits. UST engineers have expertise in Qiskit, Cirq and QDK,
among many others. Qiskit is an open-source SDK developed by IBM, which
provides tools for creating and running quantum computing programs on IBM’s
quantum computing cloud platform. Cirq is Google’s open-source SDK for creating
and running quantum computing programs on Google’s quantum computing cloud
platform.

These are some popular and widely used SDKs, libraries and tools for quantum
computing. Many others exist, including ProjectQ, QuTiP, Pyquil, libquantum,
QuEST, Quantum++, and QuEST-python.
 QUANTUM COMPUTING IN BUSINESS 7

Quantum Computing for Machine Learning

Machine learning is an excellent use case for quantum computing. Quantum
machine learning (QML) is a growing field that combines the principles of
quantum computing with machine learning techniques. The goal is to use quantum
computers to perform machine learning tasks more efficiently, such as training
large datasets, feature extraction, and optimization problems.

QML can perform tasks such as asset pricing, predicting volatility, predicting
the outcome of exotic options, fraud detection, stock selection, hedge
fund selection, algorithmic trading, market making, financial forecasting,
accounting and auditing, and risk assessment much faster and more
accurately than classical algorithms.

-JPMorgan’s Future Lab for Applied Research and Engineering

One example of applying quantum computing to machine learning is using

quantum algorithms to speed up the training of machine learning models. This
is especially useful for large datasets, where classical algorithms can take long
to train the models. Quantum algorithms can perform a process called quantum
principal component analysis (PCA) which can extract the essential features of
the dataset much faster than classical algorithms. Another area where quantum
computing can be applied to machine learning is optimization problems. UST has
been exploring the possibility of applying quantum algorithms for machine learning
with our clients – exploiting quantum parallelism, superposition, and entanglement.

UST’s applied researchers have explored applications of Quantum Support Vector

Machines (QSVMs), Quantum Principal Component Analysis (QPCA), Quantum
Neural Networks (QNNs), Quantum Generative Adversarial Networks (QGANs),
Quantum k-means, and Quantum Boltzmann Machine (QBM).
 QUANTUM COMPUTING IN BUSINESS 8

The Academic Connection

UST partners with leading AI research labs, including MIT Computer Science and
Artificial Intelligence Laboratory (CSAIL), MIT Center for Quantum Engineering,
and Stanford University Artificial Intelligence Lab (SAIL). This helps our customers
benefit from access to cutting-edge research and technologies, which leads to
more advanced and effective AI solutions. UST’s collaborations with academic
researchers also provide valuable insights into quantum technologies’ potential
applications and limitations. Access to diverse perspectives and a breadth of
knowledge from academia leads to innovative solutions.

The Stanford AI Lab and MIT CSAIL have a wide range of expertise in quantum
computing. Some specific research areas at the Stanford AI Lab include quantum
machine learning, quantum error correction, and quantum algorithms. Researchers
at the lab also work on developing new hardware for quantum computing, such as
superconducting qubits and silicon spin qubits.

MIT CSAIL also strongly focuses on quantum computing, with research areas
including quantum algorithms, quantum error correction, and quantum complexity
theory. They also work on developing new quantum hardware, such as topological
qubits and superconducting qubits. Additionally, MIT CSAIL is also working on
developing software and programming tools for quantum computers.

UST’s work with both labs strongly focuses on interdisciplinary research, bringing
together experts from different fields, such as physics, computer science, and
electrical engineering, to work on quantum computing.
 QUANTUM COMPUTING IN BUSINESS 9

You & UST – A Quantum Entanglement

When starting with Quantum computing in your company, it is crucial to present
the case clearly and concisely and use concrete data, research, and examples to
back up the claims. UST will show you how investing in quantum computing is
a strategic decision that will provide significant business benefits and help the
company stay ahead of the curve in technological innovation.
UST can help build a business case for quantum computing using our
framework for quantum exploration.
• Identify the business problem or opportunity that quantum computing can
address: Clearly articulate the problem or opportunity that quantum computing
can solve, such as reducing costs, increasing efficiency, or creating new revenue
streams.

• Estimate the potential financial benefits: Use data and research to estimate
the potential economic benefits of investing in quantum computing, such as
cost savings, increased revenue, or improved efficiency. Be sure to include any
potential risks and uncertainties in your analysis.

• Outline the resources required: Clearly outline the resources needed to

implement a quantum computing solution, including hardware, software, and
personnel. Estimate the costs of these resources and how they will be acquired.

• Highlight competitive advantage: Emphasize how investing in quantum

computing can give the company a competitive advantage over its rivals, such
as faster problem-solving, better optimization and improved machine learning.

• Show a clear path to implementation: Provide a clear and detailed plan for
implementing a quantum computing solution, including a timeline, milestones,
and key performance indicators.

• Communicate the potential impact on the industry: Highlight the potential

impact of quantum computing on the industry and how it will change the way
companies operate in the future.

• Show the return on investment: Demonstrate how the investment in quantum

computing will provide a return on investment, including potential cost savings,
increased revenue, and improved efficiency.
 QUANTUM COMPUTING IN BUSINESS 10

Why Start Quantum today?

Even though the conversations around quantum computers are in nascent stages,
companies need to start exploring their potential to be well-positioned to take
advantage of them when they are more widely available and impactful.

Quantum computing will significantly impact various industries, such as finance,

healthcare, and logistics. Companies that are preparing for it now will be in a
better position to take advantage of it in the future when it becomes more widely
available. Developing expertise and understanding in quantum computing can
help companies identify potential use cases and applications for their business.
They should start developing the talent and infrastructure needed to leverage the
capabilities of quantum computing.

There are already several cloud-based quantum computing platforms available,

such as IBM Q, Rigetti Computing, and Google’s quantum computing cloud service.
These can be used to experiment with and develop quantum algorithms, even if a
fully-fledged quantum computer is yet to be available.

There is a compelling case for investing in quantum computing technology.

Financial services companies are constantly looking for ways to gain a competitive
edge and stay ahead of innovation. Quantum computing is the next frontier in
technological advancement. We at UST believe that you can now position your
company at the forefront of the financial services industry by investing in this
technology.
 QUANTUM COMPUTING IN BUSINESS 11

A Call to Action
Quantum computing has the potential to revolutionize a wide range of industries,
including finance. Its ability to solve complex optimization problems and perform
rapid simulations can significantly improve our risk analysis and portfolio
management capabilities. In fact, early adopters of quantum computing in the
finance industry have already seen a reduction in the time it takes to perform
Monte Carlo simulations by several orders of magnitude. Quantum computing
also has the potential to greatly improve machine learning capabilities, which in
turn can help you identify new market trends and improve our trading strategies.
By investing in quantum computing now, companies can gain a significant
competitive advantage over our rivals who may still be relying on classical
computing methods.

Investing in quantum computing technology comes with its own set of risks and
challenges. UST helps you build a clear and detailed plan for implementation,
including a timeline, milestones, and key performance indicators. Based on the
requirements, we help you identify the resources required, including hardware,
software, and personnel, and estimations on the costs associated with acquiring
these resources.

Financial services industry is highly competitive, and by investing in quantum

computing now, we can position ourselves to be at the forefront of the industry.
This technology has the potential to change the way we operate and provide us with
a significant return on investment.

At UST, we pride ourselves on delivering measurable results that drive real business
value. Our team of experts can help you tap into the power of AI to improve your
operations, drive innovation, and gain a competitive edge. Contact us today to
schedule a consultation and learn more about how we can help your business thrive
in the age of Quantum Computing.
 QUANTUM COMPUTING IN BUSINESS 12

Appendix

Quantum Computing Terminologies

Quantum Computer: A type of computer that uses quantum-mechanical phenomena,
such as superposition and entanglement, to perform operations on data. Unlike
classical computers, quantum computers have the potential to solve specific problems
much faster and more efficiently.
Quantum Algorithm: A set of instructions designed to run on a quantum computer
that solves a specific computational problem or performs a specific task. Quantum
algorithms use quantum-mechanical phenomena, such as superposition and
entanglement, to perform operations on data in ways that are not possible on classical
computers.
Quantum Circuit: A quantum algorithm implemented in a specific hardware
architecture, represented by a directed graph of quantum gates. Quantum circuits are
used to perform quantum computations on a quantum computer.
Quantum Gate: A specific type of quantum operation that performs a specific task on
a quantum state, such as rotating or shifting the state of a qubit. Quantum gates are
used to build quantum circuits and perform quantum computations.
Quantum State: The state of a quantum system, represented by a vector of complex
numbers. Quantum states are used to store and manipulate data in a quantum
computer.
Quantum Entanglement: A quantum-mechanical phenomenon in which two or more
quantum systems become correlated in such a way that the state of one system cannot
be described independently of the other systems, even when the systems are spatially
separated.
Quantum Teleportation: A quantum-mechanical phenomenon in which the state of
a quantum system can be transferred from one location to another without physically
moving the system.
Quantum Error Correction: A method of protecting quantum information from errors
and noise by encoding the information in a specific way and using quantum gates and
measurements to detect and correct errors.
Quantum Adiabatic Algorithm: A quantum algorithm that solves computational
problems by gradually changing the parameters of a Hamiltonian, the energy operator
for a quantum system, over time to reach the ground state or lowest energy state of the
Hamiltonian.
Quantum Annealing: A specific type of quantum computing that uses quantum
adiabatic algorithms to solve optimization problems by finding the lowest energy state
of a Hamiltonian.
In summary, these are some of the key quantum computing terminologies that are
used in a business context. They are important to understand how quantum computers
work, the types of algorithms and circuits used, and how to manipulate and protect
 QUANTUM COMPUTING IN BUSINESS 13

Noisy Intermediate-Scale Quantum (NISQ): NISQ computers are a type of

quantum computer that have a relatively small number of qubits (quantum bits),
typically between 50 to 100 qubits, and are subject to high levels of noise and
errors. NISQ computers are considered to be intermediate between classical
computers and fully-fledged, fault-tolerant quantum computers. Despite the noise
and errors, NISQ computers can still perform certain quantum algorithms and
computations that are difficult or impossible on classical computers. One of the
areas where NISQ computers can have a significant impact is machine learning.

Types of Quantum Computers

There are several different types of quantum computers, each with its unique
characteristics and capabilities. Quantum Annealers, like D-Wave, are used for
optimization and sampling problems. At the same time, Gate-model Quantum
Computers, like IBM and Google, are considered the most versatile type of
quantum computer as they can perform a wide range of quantum algorithms.
Topological Quantum Computers (like the one Microsoft is working on) are
considered more robust to noise and errors. Photonic Quantum Computers (like
the ones Xanadu and PsiQuantum are working on) are considered to be highly
scalable. Ion trap Quantum Computers (like the ones developed by IonQ) are
considered highly precise and accurate. Superconducting Quantum Computers
(like the ones developed by Google) are deemed to be highly stable and have the
potential to be highly scalable. Each type of quantum computer has advantages
and disadvantages, and its suitability for specific tasks and applications depends
on the specific use case.
 QUANTUM COMPUTING IN BUSINESS 14

Quantum
Company Usage Properties
Computer Type

Quantum chemistry, Scalable, high-fidelity

Ion trap IonQ
materials science gate operations

Google, IBM Optimization, machine

Superconducting Scalable, low error rates
Rigetti learning, cryptography
Error correction,
Robust against noise,
Topological Microsoft topological quantum
high-error tolerance
computing
Quantum High-fidelity single-
Trapped-atom IonQ, Xanadu simulation, precision qubit operations, long
measurements coherence times
Quantum Scalable, low-error
Xanadu,
Photonic communication, error rates, high-speed
PsiQuantum
correction operations

Quantum Number of
Company Use Cases / Industries
Computer Qubits

Optimization, Machine
D-Wave 2000Q IonQ D-Wave Systems
Learning

Quantum Number of
Company Use Cases / Industries
Computer Type Qubits

IBM Q System Drug Discovery,

20 IBM
One Financial Services

Optimization, Machine
Google Sycamore 53 Google
Learning

Drug Discovery,
IonQ 32 IonQ
Machine Learning

Optimization, Machine
Rigetti Aspen-8 32 Rigetti Computing
Learning

Optimization, Machine
Alibaba Cloud 11 Alibaba Cloud
Learning

Xanadu's Machine Learning,

4-8 Xanadu
PennyLane Quantum Chemistry

Honeywell Optimization, Machine

128 Honeywell
Quantum Learning

Figure: Some of the quantum computers available in the market, the number of
qubits might change and the use cases are not exhaustive.
 QUANTUM COMPUTING IN BUSINESS 15

Together,
we build for
boundless impact

About UST
For more than 23 years, UST has worked side by side with the world’s
best companies to make a real impactthrough transformation.
Powered by technology, inspired by people and led by our purpose,
we partner withour clients from design to operation. Through our
nimble approach, we identify their core challenges and craftdisruptive
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a future-proof philosophy,we embed innovation and agility into our
client’s organizations—delivering measurable value and lastingchange
across industries, and around the world. Together, with over 30,000 +
employees in 30 countries, we buildfor boundless impact—touching
billions of lives in the process.

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