Rigetti Computing, Inc. (NASDAQ: RGTI), a pioneer in full-stack quantum-classical computing, today announced that it was awarded an Innovate U.K. grant as part of the Feasibility Studies in Quantum Computing Applications competition. The consortium aims to use quantum computing to improve current classical machine learning techniques used by financial institutions to analyze complex data streams. Joining Rigetti in this work is Amazon Web Services (AWS), Imperial College London, and Standard Chartered.
Financial institutions need to continuously interpret complex data streams to extract information necessary for providing accurate credit risk evaluation, managing market-making services, and predicting emissions in the context of green finance, among other things. Classical machine learning techniques used to assist and provide insights to these services have limitations as these data streams are, in general, complex.
By leveraging Rigetti’s quantum computer and software, Standard Chartered’s datasets and classical benchmarks, Imperial College London’s expertise on classical machine learning models for data streams, and AWS classical high performance computing resources, the consortium will aim to address the following research objectives: (1) further develop quantum signature kernels and quantum-enhanced feature maps, (2) benchmark the results against classical machine learning methods for streamed data, and (3) build and study quantum algorithms for computing signatures and signature kernels for long and high-dimensional data streams efficiently.
RGTI shares closed Wednesday at $1.13.
