Quantum News Nexus

Professional services giant EY, which has dabbled in quantum computing over the years with partners like IBM, SandboxAQ, and more, announced the addition of an on-site quantum computer led by EY Canada and part of a global investment of more than US$3B in AI and other next frontier technologies,” according to a press release.

The release does not mention where in Canada the on-site quantum machine will be located, or who is building it. EY has been a member of the IBM Quantum Network since 2023, and worked with IBM on quantum projects well before then. This week’s announcement also comes several months after EY made headlines with a new quantum-related patent focused on improving how organizations “create and assess decision-making scenarios in challenging situations.”

EY said the new capabilities it is now investing in “will support the processing of highly sensitive workloads in areas such as optimization, fraud detection, data protection and large-scale risk management… Underpinning this investment is dedicated access and greater control over the development of new applications, including where data resides and how it is managed.”

Raj Sharma, EY Global Managing Partner – Growth & Innovation, said in the release, “AI may be the defining technology platform of this decade, and quantum will ultimately expand its horizons, creating entirely new opportunities for business and society. EY has already taken great strides in applying the power of quantum to cybersecurity and specific industry use cases. As the technology reaches its full potential over the next five years, it’s critical for global business leaders seeking competitive advantage to hone their data readiness and build strong foundations of data, trust, and governance in preparedness for the quantum age.”

Biren Agnihotri, EY Canada Chief Technology Officer, added that EY’s efforts are taking “…the conversation on quantum computing from concept to practical use for clients across markets.” Though it is not clear which vendors and technology developers will benefit most from EY’s increasing investment, that is exactly the kind of talk that is music to the ears of the entire quantum computing sector.

Having an on-site quantum machine will be beneficial for meeting data privacy requirements and other regulations relevant to a major professional services company, but it would be interesting to know what else led EY deciding it needed its own in-house quantum computer.

The announcement comes as EY launches ey.ai The Reimagination Engine, an AI-led technology system designed to help organizations move beyond pilots to realize enterprise-wide value – centered on the premise that “AI is only as valuable as the hands that shape it.” This marks the move as the latest merging of quantum and AI technologies.

In other news, IonQ cleared the last regulatory hurdle in its effort to acquire chip manufacturer SkyWater Technology as it received Federal Trade Commission approval for the $1.8 billion acquisition announced back in January. The deal is expected to close by the end of this week.

IonQ has its next quarterly earnings report coming up next week on Aug. 5, and next steps following the closing likely will be a hot topic of conversation. IonQ also has an investor day even in September that should feature a lot of discussion about SkyWater’s role, but at the very least the deal allows IonQ to establish an in-house and US-based source for its chips. The move also could have some big implications for the broader quantum processor supply chain.

There had been a lot of chatter in recent months about the FTC supposedly requesting more information about the acquisition, and company watchers wondering how long the deal might be held up, but all’s well that ends well, or something to that effect.

Image by DC Studio on freepik

Quantum News Nexus is a site from freelance writer and editor Dan O’Shea that covers quantum computing, quantum sensing, quantum networking, quantum-safe security, and more. You can find him on X @QuantumNewsGuy and doshea14@gmail.com.