Standard Chartered has partnered with the Universities Space Research Association (USRA) on quantum-inspired machine learning for ESG applications. The team aims to develop advanced machine-learning approaches to forecasting natural disasters like floods.
They also want to investigate how current-generation quantum processors, future quantum computer designs, and physics-based hardware solvers can be used to improve beyond what is achievable with classical machine learning.
“At Standard Chartered, we are excited to be renewing our partnership with our USRA colleagues in an area of such vital importance for the Bank, our clients, and our communities. We are keen to learn and to explore how quantum computing can help to accelerate the global goal to Net Zero, which is so critical for the future of our planet.”
Elena Strbac, Global Head of Data Science and Innovation at Standard Chartered.
Long-term advances in quantum computing technology have such broad applicability that they could benefit all 17 United Nations Sustainable Development Goals. Creating quantum-advantageous solutions necessitates careful testing and assessment and a thorough grasp of the limitations of present and future digital and quantum technologies.
The USRA quantum team at the Research Institute for Advanced Computer Science (RIACS) will test, analyze, and improve parts of highly performant classical models and create hardware-software systems that use the most advanced quantum machines available on the cloud.
“USRA is committed to advancing capabilities in environmental data sciences to help mitigate the impact of disasters such as wildfires and floods. This partnership brings together an interdisciplinary team of scientists in quantum computing, environmental data sciences, and machine learning to examine how emerging technologies can be developed and applied to address computationally demanding problems in ESG.”
Dr. David Bell, Director of the Research Institute for Advanced Computer Science (RIACS) at USRA.
The two organizations have already worked together on quantum annealing research at three universities, producing technical articles on topics ranging from portfolio optimization to scheduling.