Cracking the Code: The Quantum Computing Boom and Its $1 Trillion Economic Impact

USA News Group News Commentary

Issued on behalf of Scope Technologies Corp.

VANCOUVER, BC, Dec. 2, 2024 /CNW/ -- The threat of a cyberattack has never been higher, and it looks like it may be getting worse. According to an alarming new report from Amazon's Chief Information Security Officer, the retail and computing giant is experiencing nearly 1 billion cyber threats per day. As per the report, the claim is that cyber criminals have embraced Artificial Intelligence (AI), forcing enterprises to drastically scale up their threat-intelligence capabilities. But the biggest threat hasn't fully arrived yet, which cyber experts have dubbed "Q-Day", marking the turning point when cybercriminals will have access to quantum computing, essentially giving them the power to crack passwords and encryption in a tiny fraction of the time it takes now. The market reacted swiftly to an announcement from Amazon Web Services launching its quantum-computing advisory program, and sending shares of quantum-computing companies soaring in the process. Behind the scenes, these quantum developers are emerging with several developments coming from top players in the space, including from Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), D-Wave Quantum Inc. (NYSE: QBTS), Quantum Corporation (NASDAQ: QMCO), Quantum Computing Inc. (QCi) (NASDAQ: QUBT), and Rigetti Computing, Inc. (NASDAQ: RGTI, RGTIW).

The article continued: Experts in the space are projecting a $1 trillion economic impact from quantum computing by 2035. Analysts at The Business Research Company have estimated that the Global Enterprise Quantum Computing Market is set for an explosive 29.7% CAGR, hitting $10.83 billion as early as 2028.

One of the emerging players is Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), a pioneering technology company specializing in quantum security and machine learning (ML), which recently announced the signing of a Letter of Intent (LOI) with Global Care Innovations Inc. (GCI) and BitLab, for a strategic partnership aims to deliver both quantum-secure data solutions and advanced AI-powered tools to healthcare providers across North America.

The announcement comes on the heels of Scope launching its subscription model for round-trip encrypted, quantum-resilient cloud storage not only for businesses, but for individuals as well.

But with the new strategic partnership in place, Scope is set to prove its ability to enhance patient care through its cutting-edge technology, and cement its position towards becoming a leader in secure technology applications for critical sectors like healthcare.

"This partnership with GCI and BitLab marks a significant step forward in our mission to secure sensitive health information against both current and future cyber threats," said James Young, CEO of Scope Technologies. "Our collaboration combines robust quantum security with innovative AI solutions, empowering healthcare providers to protect patient data while improving diagnostics and treatment options through advanced AI."

Under the LOI's proposed terms, GCI will license Scope's QSE suite of quantum-resistant encryption and decentralized storage solutions, providing HIPAA-compliant, secure data management for healthcare organizations. Additionally, BitLab, a Toronto-based technology innovation lab, will serve as the primary development partner, to leverage Scope's visual recognition and neural network technologies and create tailored AI applications that meet the unique needs of each healthcare provider.

"Scope's technology aligns perfectly with our vision of transforming healthcare through AI-driven solutions and secure data management," said Dr. Ragui Ibrahim, CEO of GCI. "This partnership enables us to expand our offerings to healthcare providers, ensuring that data is safeguarded both today and as we move into a quantum-powered future."

The collaboration's AI focus will enable healthcare providers to leverage Scope's visual recognition and annotation technology in multiple applications, developed by BitLab to improve diagnostics, streamline patient care, and enhance health outcomes. From AI-powered diagnostic tools to personalized treatment recommendations, Scope's technology offers a scalable foundation for various healthcare innovations, all underpinned by quantum-secure data storage to ensure patient data remains protected.

On the quantum security side, GCI will integrate Scope's QSE platform to offer both quantum-resistant data backups and individual patient data vaults, designed to meet or exceed regulatory standards for data protection. The transaction is subject to the parties entering into a definitive agreement.

"Our focus at BitLab is on delivering scalable, innovative solutions in AI and MedTech," said Shoukri Kattan, CEO of BitLab. "By integrating Scope's advanced AI and quantum security capabilities, we're setting new benchmarks for healthcare technology and improving the quality of care across the sector."

With the launch of Scope Technologies' new subscription model, individuals and small businesses now have full access to Scope's quantum resilient round-trip encrypted and quantum resilient decentralized cloud storage solutions. Now with Scope's QSE (Quantum Security Entropy) platform, individuals and small businesses can leverage the same advanced encryption and decentralized storage infrastructure that Scope delivers to mid-sized and enterprise clients, ensuring their data remains safe from current and future cyber threats.

The platform is designed for seamless scalability, allowing users to expand their storage and security needs as they grow, without compromising performance or protection.

CONTINUED… Read this and more news for Scope AI at: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/.

In other industry developments and happenings in the market include:

D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, recently announced its participation in the recent Quantum Technologies Forum hosted by the University of Southern California (USC). At the event, D-Wave presented the latest advancements in its annealing quantum computing technology and highlighted real-world use cases from both commercial and research customers. D-Wave's participation at the event reflects the company's longstanding relationship with USC's Viterbi School of Engineering, dating back to 2022 when USC became the first organization in the U.S. to host a D-Wage Advantage annealing quantum computing system.

"Our quantum system at USC plays an important role in supporting the university's efforts to serve as an epicenter of quantum research and education," said Lorenzo Martinelli, Chief Revenue Officer at D-Wave. "Our 5,000+ qubit quantum computer – currently the world's largest quantum computer – gives enterprise users, researchers and public sector organizations incredibly powerful computational capabilities for solving complex problems, and we look forward to continuing our collaboration with USC to advance scientific progress and business transformation."

Quantum Corporation (NASDAQ: QMCO), a pioneer in end-to-end data management solutions designed for the AI era, recently announced the launch of its new product DXi9200—the latest generation of its highly successful, flagship DXi9000 Series hybrid (flash + dense disk) data protection appliances, designed for scalable, efficient backup and recovery services for large organizations.

With the continuing threat of ransomware attacks, organizations need to take a comprehensive and proactive approach to secure their data and data copies, continuously validate recovery operations, and quickly recover in case of attack. As the industry's most scalable, feature-rich, and efficient data protection appliance, the DXi9200 meets these challenges head on.

"The DXi9200 is a powerful new solution for strengthening any organization's cyber resilience," said Sanam Mittal, Vice President, DXi. "Coupled with highly optimized data reduction, replication, and cloud tiering, plus all-inclusive software, capacity-on-demand licensing, and Flexible as-a-Service subscription service options, the DXi9200 dramatically lowers costs and increases IT efficiency. DXi9200 is the ideal choice for enterprise backup and recovery services, consolidation of offsite immutable copies for disaster recovery and long-term retention, and as the central hub of modern edge-core-cloud data protection fabrics."

Quantum Computing Inc. (QCi) (NASDAQ: QUBT), an innovative, integrated photonics and quantum optics technology company, recently announced it had 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.

"This strategic collaboration with the University of Texas at Austin underscores the expanding capabilities and commercial viability of the QCi Foundry, which has been designed to meet the increasing demand for signal processing, sensing, and computing applications as well as advanced acoustic systems for volume deployment," said Dr. William McGann, CEP at QCi. "We are excited to support the University's innovative research, and this collaboration further highlights the growing recognition of TFLN as a critical driver in the future of telecom, datacom, and quantum markets."

Rigetti Computing, Inc. (NASDAQ: RGTI, RGTIW), a pioneer in full-stack quantum-classical computing, coming off of a keynote presentation at SEMICON Europa 2024, recently announced the successful completion of a $100 million at-the-market (ATM) equity offering program. Rigetti intends to use the funds generated by the ATM Program for working capital, capital expenditures and other general corporate purposes, including continuing to focus on its strategy as a leader in superconducting quantum computing and continuing to work to improve its 2-qubit gate fidelity and scale towards higher qubit count systems.

"We are pleased to see the enthusiasm for the quantum computing sector and our company," said Dr. Subodh Kulkarni, CEO of Rigetti. "We are seeing a great deal of interest from national labs and academic institutions for on-premises quantum computers to pursue hands-on R&D. As the technology continues to improve and more quantum applications are developed we expect to see increasingly more interest from industry and the private sector. Rigetti's system gate speeds consistently achieve an active duration of 60-80ns, which is several orders of magnitude faster than other modalities such as ion traps and neutral atoms."

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/.

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