IonQ and Fidelity Center for Applied Technology Announce Development of Scalable Quantum State Preparation for Monte Carlo Algorithms

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May 04, 2023

IonQ (NYSE: IONQ), an industry leader in quantum computing, in collaboration with the Fidelity+Center+for+Applied+Technology (FCAT), today announced an efficient and reliable design as a critical first step in the application of quantum computing to Monte Carlo methods. The first-of-its-kind state preparation technique is scalable and has been demonstrated on IonQ hardware for up to 20 qubits. The achievement may not only benefit financial institutions in tasks like portfolio management, but also other industries including science and engineering, where Monte Carlo algorithms are used. A research paper outlining the new technique is available here for viewing.