PALM BEACH, Fla., Dec. 18, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Quantum computing is a revolutionary technology in computer science that utilizes the principles of quantum mechanics to process information. Unlike classical computers that use bits with a value of 0 or 1, quantum computers use qubits, which can exist in multiple states at once, enabling them to solve complex problems much faster. Quantum computing has the potential to revolutionize industries such as finance, healthcare, and materials science. The quantum computing market is expected to grow significantly due to increasing research and development in quantum technology, patent filings, and quantum initiatives from various organizations. A report from Technavio projected that the global quantum computing market size is estimated to grow by USD 17.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 26.37% during the forecast period. Increasing expenditure by stakeholders is driving market growth, with a trend towards growth of ai and machine learning. The report said: “The quantum computing market is experiencing significant growth as businesses explore the potential of this revolutionary technology. Quantum computing, based on quantum theory and mechanics, promises to solve complex problems faster than classical computers. Key trends include AI, cloud computing, and partnerships with tech giants like AMD. Patent filings indicate a focus on hardware and software development, with applications in various sectors such as biomedical simulations, optimization, and manufacturing. Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), D-Wave Quantum Inc., (NYSE: QBTS), NVIDIA CORPORATION (NASDAQ: NVDA), Intel Corporation (NASDAQ: INTC), IBM (NYSE: IBM).
Technavio continued “Quantum computing is expected to disrupt industries like electronics, telecommunications, and financial services, with potential use cases in areas like AI drug discovery, energy optimization, and logistics networks. Error mitigation and suppression techniques are crucial for quantum computing hardware, while quantum simulators and networking are driving research and development. Security concerns are being addressed through quantum-accelerated cryptography. The market is expected to grow, with tech media and IDG predicting increased customer spend on quantum computing resources. Quantum computing is poised to bring innovation to information technology, high-performance computing, and consumer technology markets, with potential applications in areas like weather forecasting, traffic optimization, and energy optimization and land surveys.”
ZenaTech Inc.’s (NASDAQ:ZENA) to Use Quantum Computing for Wildfire Tracking in the Western US; Part of a Third LOI for Land Survey Company Acquisition – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone, Quantum Computing, Drone as a Service (DaaS), and enterprise SaaS solutions, announces today that it has signed an LOI (Letter of Intent) to acquire a third land survey engineering company. The acquired company, located in the Western region of the US, will use drones for land surveys and to survey large tracks of land for wildfires and fire management applications on Native American reservations. In addition, Quantum Computing will be added to AI drone capabilities to accommodate large-size datasets. This third acquisition will form the base of ZenaTech’s drone operations in the Western US region, providing local access to the ZenaDrone 1000 and the IQ series of drones, along with the previously announced LOIs for anchor acquisitions in the Southeast and Southern regions of the US.
“Signing an LOI to acquire a third land survey company is another step towards our vision for a national DaaS business, bringing AI drone speed and precision to innovate legacy business applications across verticals. Having received multiple requests from Native American groups, we look forward to applying advanced technologies like AI and Quantum Computing to practical and sought-after use cases such as fire management,” said CEO Shaun Passley, Ph.D.
ZenaTech has an existing joint venture partnership with a Native American company to manufacture and sell drones for use by Native American Nations across the US for use in applications like land survey, search and rescue, cargo delivery and fire management. The ZenaTech team has met with many Native American leaders interested in using ZenaDrone 1000 to scan massive tracts of land, over 300 square miles, for fire management applications that are of particular interest to those located in the Western area of the US. The level of datasets required for these expansive areas and applications can only be accomplished using Quantum Computing technology.
ZenaTech previously announced the launch of the Sky Traffic project which will utilize its AI drones, Quantum Computing, and specialized teams to develop and test advanced traffic management and weather forecasting applications using large datasets and Amazon Web Services computing devices and platforms.
Quantum Computing is a type of computation that leverages the principles of quantum mechanics to process information at speeds and efficiencies far beyond traditional classical computers, enabling complex problem-solving and simulations.
AI drones can survey and collect massive amounts of real-time data on weather, fire conditions, and terrain, which can then be processed using Quantum Computing to create highly accurate predictive models. The synergy of AI drones with Quantum Computing can result in more efficient fire detection, response and prevention, minimizing the impact of wildfires on lives, property, and the environment. Drones are already useful in surveillance, detection, and firefighting, while Quantum Computing, although still emerging, can enhance predictive capabilities, resource optimization, and modeling of complex fire behavior.
ZenaTech’s Drone as a Service or DaaS, is a convenient and flexible pay-as-you-go model enabling business users to benefit from the efficiencies of using drones for applications like surveillance and inspection, crop management, or land surveying, without having to buy the hardware and software, or acquire the pilot certifications and regulatory approvals needed to implement.
In land survey applications, remotely piloted and autonomous drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems, capture and analyze high-resolution pictures and aerial data across expansive terrains in a matter of hours instead of the typical weeks or months required using traditional surveying tripod-mounted instruments and methodologies. Accurate land surveys are required for legal purposes and are essential for the planning and building of roads and commercial, residential and other government building projects. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/
Other recent developments in the technology industry include:
D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, recently announced the successful completion of $175 million in gross proceeds from its $100 million and $75 million "at-the-market" equity offering programs. The $75 million program, initiated on December 9, closed at an average price of $4.8149 per share, with D-Wave stock trading at a Volume Weighted Average Price of $4.6625 over the same period.
The company expects to conclude the fiscal 2024 fourth quarter with at least $160 million in cash. The funds will be used to support working capital, capital expenditures, and technical development. In the press release, CEO Dr. Alan Baratz highlighted the role of D-Wave's 5,000-qubit Advantage quantum computer in driving commercial adoption of annealing quantum computing and emphasized the funding's importance for executing against its product and go-to-market strategies and roadmaps.
NVIDIA CORPORATION (NASDAQ: NVDA) recently announced it is opening its first Vietnam research and development center, signaling its confidence in the country’s bright artificial intelligence future.
The company is collaborating with the Vietnamese government to establish its new Vietnam Research and Development Center focused on AI. NVIDIA will use the R&D center to focus on software development, capitalizing on the country’s strong talent pool of STEM engineers, and to engage industry leaders, startups, government agencies, universities and students to accelerate the adoption of AI.
“We are delighted to open NVIDIA’s R&D center to accelerate Vietnam’s AI journey,” said Jensen Huang, founder and CEO of NVIDIA. “With our expertise in AI development, we will partner with a vibrant ecosystem of researchers, startups and enterprise organizations to build incredible AI right here in Vietnam.”
Intel Corporation (NASDAQ: INTC) and the Biden-Harris Administration recently announced that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. The award will support Intel’s previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects at its sites in Arizona, New Mexico, Ohio and Oregon. Intel also plans to claim the U.S. Treasury Department’s Investment Tax Credit, which is expected to be up to 25% of qualified investments of more than $100 billion.
"With Intel 3 already in high-volume production and Intel 18A set to follow next year, leading-edge semiconductors are once again being made on American soil," said Pat Gelsinger, CEO of Intel. "Strong bipartisan support for restoring American technology and manufacturing leadership is driving historic investments that are critical to the country’s long-term economic growth and national security. Intel is deeply committed to advancing these shared priorities as we further expand our U.S. operations over the next several years."
IBM (NYSE: IBM) and Illinois Governor JB Pritzker recently announced a collaboration to establish the new National Quantum Algorithm Center in the Illinois Quantum and Microelectronics Park (IQMP) in Chicago. Anchored by IBM and other quantum computing pioneers including the University of Chicago and the University of Illinois Urbana-Champaign, the center will be fueled by IBM's next-generation quantum computer, IBM Quantum System Two, which the company plans to deploy in Chicago in the coming year.
IBM Quantum System Two within the IQMP will be powered by IBM Quantum Heron, which can execute utility-scale algorithms beyond the capabilities of brute-force, classical simulation methods. Users will be able to leverage this system with Qiskit, IBM's performant quantum software, which is designed to be able to extend the length and complexity of quantum circuits to extract accurate results for problems of scientific and research value.
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