Quantum-Enhanced Machine Learning with Moody’s Analytics
Rigetti is laser-focused on achieving narrow quantum advantage, the point at which a quantum computer is able to solve a practical, operationally relevant problem significantly better, faster, or cheaper than classic alternatives.
We believe that the finance sector has problems that could benefit from the unique properties of quantum computing. This is why we are delighted to announce the signing of a collaboration agreement with Moody’s Analytics — one of the world’s leading financial intelligence and analytics companies — to develop quantum machine learning methods for the financial sector.
In April 2023, we shared the initial results of our novel approach to forecasting recessions using cutting edge machine learning techniques, developed in collaboration with Moody’s and Imperial College London. Our methods combine classical signature kernels with quantum-enhanced data transformations. Performing noiseless quantum simulation, we showed that signature kernels can leverage quantum-enhanced data and forecast recessions more accurately than industry standard baseline models.
In the first half of 2024, building on our initial findings, we plan to use higher dimensional datasets from variegated and interdependent macroeconomic areas, leveraging a higher qubit count. This work, differently from the simulations of the initial collaboration, will be executed on Rigetti’s 84-qubit Ankaa™ system using error mitigation methods.
“Moody’s is investing in quantum computing to better understand how it can provide an advantage over classical solutions. By partnering with the algorithm and application teams at Rigetti, and leveraging their QPUs, we get access to the expertise needed to make meaningful progress in our quantum computing strategy,” says Sergio Gago, MD of AI and Quantum Computing at Moody’s Analytics.
“We need to work hand in hand with industry experts who will be relying on hardware vendors like Rigetti to provide quantum computers capable of tackling their complex computational problems. Partnering with Moody’s to use quantum machine learning techniques to improve time series prediction gives us valuable insight into how we can continue to improve our quantum computing systems for real-world applications,” says Dr. Subodh Kulkarni, Rigetti CEO.
“The potential for quantum computing to have a transformative impact on the financial sector has led to increasingly more financial institutions building in-house teams dedicated to exploring quantum computing. Achieving quantum advantage will require collaborating with end users who truly understand how to apply quantum computing to their business. This is why our work with Moody’s is so valuable — partnering with Moody’s quantum experts allows us to work on valuable problems and in turn feed improvements back into our hardware and software stack to enhance our capabilities,” says Marco Paini, VP of Finance Solutions at Rigetti.
About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides high performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at rigetti.com.
About Moody’s Analytics
Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.
