In a significant move for the artificial intelligence landscape in business, the quantum startup SandboxAQ has announced that its large quantitative models (LQMs) will soon be accessible on Google Cloud. The announcement was made to Reuters on Tuesday, highlighting a strategic partnership aimed at leveraging AI technology to stimulate growth within cloud services.
The LQMs are specifically engineered to handle large-scale numerical datasets, enabling them to perform complex calculations and statistical analyses. Businesses can employ these models for developing advanced financial strategies as well as automating trading processes. This partnership marks a notable expansion for SandboxAQ, which was spun off from Alphabet, Google's parent company, in 2022, allowing the firm to broaden its platform reach to a wider array of potential customers.
Jack Hidary, CEO of SandboxAQ, stated, “More than 80% of the economy is run by math and quantitative relationships. And that's where quantitative AI really shines, and it's very complementary to language models.” This remark underscores the growing significance of quantitative AI in an increasingly data-driven economic landscape.
This announcement also marks the first occasion where SandboxAQ's models will be made available through a third-party platform, enhancing accessibility for enterprises looking to integrate these advanced models into their operations. The Palo Alto-based company recently secured a significant $300 million in funding, raising its valuation to $5.6 billion. The financial support comes from notable investor firms including Fred Alger Management, T. Rowe Price, and Breyer Capital, further cementing the company’s position within the burgeoning quantum sector.
SandboxAQ's models cater to an array of industries, including life sciences, financial services, and navigation, illustrating the versatile applications of quantum technology across different sectors.
Meanwhile, Google has been ramping up its efforts in quantum computing, having announced in December its progress in developing a new generation of quantum chips. This advancement addresses a longstanding challenge in the quantum computing realm. In addition, Microsoft recently unveiled its "Quantum Ready program" and has been vocal about the future potential of quantum computing. However, Nvidia's CEO Jensen Huang cautioned that practical applications of the technology might still be two decades away, indicating the ongoing complexities within the field.
The developments from SandboxAQ and its collaborations mark a pivotal moment for the integration of quantum computing and AI in business practices, signalling a transformative era ahead.
Source: Noah Wire Services