At present, the computers can run thousands of operations before errors overwhelm them. OQC plans to reach millions of operations by 2028, followed by billions in 2031, which would enable quantum chemistry, followed by trillions of operations in 2034, where current methods of encryption can be broken.<\/p>\n
\u201cOne of the key things we need to do collectively is get those errors down, and [putting together] what Riverlane has created with our architecture \u2026 accelerates that path towards 2028 and when [the technology] unlocks commercial value,\u201d Mullally said.<\/p>\n
Customers of the 29,000 sq m data centre in Reading run by CenterSquare, a Texas-based operator, can pay to use the three OQC quantum computers based there to test their quantum algorithms on their own data, in a secure way. The likely users are understood to include global banks, social media firms and security groups.<\/p>\n
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Steve Brierley, chief executive of Riverlane, left, and Gerald Mullally of Oxford Quantum Circuits<\/p>\n
\u201cThe reason businesses are using the technology is that they are understanding where it is, they are refining their quantum algorithms and, on that basis, they will be first to [gain a] commercial advantage when the hardware has a low enough error rate,\u201d said Mullally. Their experience with AI, he said, had forced businesses \u201cto think about future compute much more seriously\u201d.<\/p>\n
International companies such as investment banks already employ large teams of quantum computer software specialists, who are writing and testing trading algorithms on these early systems. \u201cThey know what it means for derivative pricing, arbitrage, deep hedging or fraud detection. They are largely proprietary algorithms that give them commercial advantage,\u201d Mullally said.<\/p>\n
OQC, which was founded by Oxford University physicists in 2017, co-located its quantum computers at the data centre over two years ago, but this will be the first time it has integrated them with error-correction systems to improve their performance. It said that, initially, Riverlane\u2019s technology would run on a digital twin of its quantum system to validate its error-correction routines, before integrating it into OQC\u2019s hardware.<\/p>\n
Steve Brierley, founder and chief executive of Riverlane, said: \u201cQuantum computing gives you an exponential advantage. It is not a little bit better than classical computing; it is hundreds of millions times better than the previous generation.\u201d<\/p>\n
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