SEA’s logistic market value expected to reach $55.7 billion by 2025
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Quantum advantage is the milestone the field of quantum computing is fervently working toward, where a quantum computer can solve problems that are beyond the reach of the most powerful non-quantum, or classical, computers.
Quantum refers to the scale of atoms and molecules where the laws of physics as we experience them break down and a different, counterintuitive set of laws apply. Quantum computers take advantage of these strange behaviors to solve problems.
There are some types of problems that are impractical for classical computers to solve, such as cracking state-of-the-art encryption algorithms. Research in recent decades has shown that quantum computers have the potential to solve some of these problems.
If a quantum computer can be built that actually does solve one of these problems, it will have demonstrated quantum advantage.
This frontier of scientific and technological innovation not only promises groundbreaking advances in computation but also represents a broader surge in quantum technology, including significant advancements in quantum cryptography and quantum sensing.
Central to quantum computing is the quantum bit, or qubit. Unlike classical bits, which can only be in states of 0 or 1, a qubit can be in any state that is some combination of 0 and 1. This state of neither just 1 or just 0 is known as a quantum superposition. With every additional qubit, the number of states that can be represented by the qubits doubles.
This property is often mistaken for the source of the power of quantum computing. Instead, it comes down to an intricate interplay of superposition, interference and entanglement.
Interference involves manipulating qubits so that their states combine constructively during computations to amplify correct solutions and destructively to suppress the wrong answers. Constructive interference is what happens when the peaks of two waves – like sound waves or ocean waves – combine to create a higher peak.
Destructive interference is what happens when a wave peak and a wave trough combine and cancel each other out. Quantum algorithms, which are few and difficult to devise, set up a sequence of interference patterns that yield the correct answer to a problem.
Entanglement establishes a uniquely quantum correlation between qubits: The state of one cannot be described independently of the others, no matter how far apart the qubits are. This is what Albert Einstein famously dismissed as “spooky action at a distance.”
Entanglement’s collective behavior, orchestrated through a quantum computer, enables computational speed-ups that are beyond the reach of classical computers.
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Quantum computing has a range of potential uses where it can outperform classical computers. In cryptography, quantum computers pose both an opportunity and a challenge. Most famously, they have the potential to decipher current encryption algorithms, such as the widely used RSA scheme.
One consequence of this is that today’s encryption protocols need to be re-engineered to be resistant to future quantum attacks. This recognition has led to the burgeoning field of post-quantum cryptography.
After a long process, the National Institute of Standards and Technology recently selected four quantum-resistant algorithms and has begun the process of readying them so that organizations around the world can use them in their encryption technology.
In addition, quantum computing can dramatically speed up quantum simulation: the ability to predict the outcome of experiments operating in the quantum realm. Famed physicist Richard Feynman envisioned this possibility more than 40 years ago.
Quantum simulation offers the potential for considerable advancements in chemistry and materials science, aiding in areas such as the intricate modeling of molecular structures for drug discovery and enabling the discovery or creation of materials with novel properties.
Another use of quantum information technology is quantum sensing: detecting and measuring physical properties like electromagnetic energy, gravity, pressure and temperature with greater sensitivity and precision than non-quantum instruments. Quantum sensing has myriad applications in fields such as environmental monitoring, geological exploration, medical imaging and surveillance.
Initiatives such as the development of a quantum internet that interconnects quantum computers are crucial steps toward bridging the quantum and classical computing worlds. This network could be secured using quantum cryptographic protocols such as quantum key distribution, which enables ultra-secure communication channels that are protected against computational attacks – including those using quantum computers.
Despite a growing application suite for quantum computing, developing new algorithms that make full use of the quantum advantage – in particular in machine learning – remains a critical area of ongoing research.
The quantum computing field faces significant hurdles in hardware and software development. Quantum computers are highly sensitive to any unintentional interactions with their environments. This leads to the phenomenon of decoherence, where qubits rapidly degrade to the 0 or 1 states of classical bits.
Building large-scale quantum computing systems capable of delivering on the promise of quantum speed-ups requires overcoming decoherence. The key is developing effective methods of suppressing and correcting quantum errors, an area my own research is focused on.
In navigating these challenges, numerous quantum hardware and software startups have emerged alongside well-established technology industry players like Google and IBM. This industry interest, combined with significant investment from governments worldwide, underscores a collective recognition of quantum technology’s transformative potential.
These initiatives foster a rich ecosystem where academia and industry collaborate, accelerating progress in the field.
Quantum computing may one day be as disruptive as the arrival of generative AI. Currently, the development of quantum computing technology is at a crucial juncture. On the one hand, the field has already shown early signs of having achieved a narrowly specialized quantum advantage.
Researchers at Google and later a team of researchers in China demonstrated quantum advantage for generating a list of random numbers with certain properties. My research team demonstrated a quantum speed-up for a random number guessing game.
On the other hand, there is a tangible risk of entering a “quantum winter,” a period of reduced investment if practical results fail to materialize in the near term.
While the technology industry is working to deliver quantum advantage in products and services in the near term, academic research remains focused on investigating the fundamental principles underpinning this new science and technology.
This ongoing basic research, fueled by enthusiastic cadres of new and bright students of the type I encounter almost every day, ensures that the field will continue to progress.
Daniel Lidar, Professor of Electrical Engineering, Chemistry, and Physics & Astronomy, University of Southern California
This article is republished from The Conversation under a Creative Commons license. Read the original article.
STOCKHOLM – The Nobel Sustainability Trust, with the support of the Instittue of Advanced Study of the Technical University of Munich, has presented medals recognizing outstanding contributions in sustainabity to John Kerry, the US Special presidential envoy for climate, and Robin Yuqun Zeng, Chairman of CATL, the world-leading battery company.
NST and TUM IAS also presented an award for outstanding research and development in the field of energy to Elena Bou of the European Institute of Innovation and Technology and an award in leadership and implementation to Nicholas Stern of the London School of Economics and Political Science. This is the first year these two awards have been presented.
The recipients of the sustainability awards were selected by an independent committee managed by the Technical University of Munich. This committee includes professors appointed by various institutes and universities from around the world. The sustainability awards will be presented annually to individuals or institutions that have facilitated significant developments in or made outstanding contributions to the implementation of sustainable solutions for communities.
In 2022, TUM became NST’s academic partner. The TUM Institute for Advanced Study is responsible for selecting the academic award winners. The awards were handed over at the Nobel Sustainability Trust summit at the Bavarian Academy of Sciences and Humanities in Munich on November 9.
Nobel Sustainability Trust Chairman Peter Nobel remarks:
It is with great joy and pride that we jointly announce, here in Munich, the awardees for the first sustainability awards in energy and leadership and the medals, presented for the second time this year, for outstanding contribution in sustainability. The future of humanity and its survival largely hinge on our abilities to use the Earth’s resources and leverage technological innovations in a sustainable manner. We believe the sustainability awards and medals will play a pivotal role and become a powerful symbol within the sustainable field. Our objective is to inspire and mobilize individuals and organizations worldwide to develop sustainable technologies in key resource areas such as energy, water, and agriculture. Such efforts require substantial intellectual engagement and financial support.
President of the Technical University of Munich Thomas Hofmann says:
TUM’s core strategy is to promote the concept of sustainability and its implementation via promising and marketable technologies. I am pleased that we at TUM are helping to push sustainability even further with the sustainability awards and to demonstrate that science and technology are the keys to sustainability.
John Kerry, a US politician, served in the Senate (1985–2013) and later was secretary of state (2013–2017) in the administration of President Barack Obama. Kerry is one of the world’s most effective climate champions. As secretary of state in 2015, he helped negotiate the Paris Agreement on climate change. In 2019 Kerry was a key figure in the creation of World War Zero, an organization dedicated to fighting climate change. In 2020 he was named special presidential envoy for climate in the administration of President Biden. Kerry has been crisscrossing the globe rallying foreign allies and adversaries to make bolder commitments to fight climate change, urging governments and industries to bring concrete plans to boost renewable energy and cut greenhouse emissions by 2030.
Robin Zeng established CATL in 1999 and built it the world’s leading company in the field of lithium-ion batteries for consumer electronics. In a new endeavor in 2011 he established CATL, a world leading power battery provider and a global leader of new energy innovative technologies. The company has made continuous breakthroughs in key technologies of EV and energy storage batteries, providing premier solutions and services for new energy applications worldwide. CATL’s global market share of power battery ranks first in the world for six consecutive years. It also ranks first in the global market share of energy storage battery production.
Elena Bou co-founded EIT InnoEnergy in 2010 and, since 2011, has served as innovation director and member of its executive board. In her position, she leads the development of major InnoEnergy efforts in creating and accelerating startups and scaleups in the energy field, including the investment process in such ventures. EIT InnoEnergy is a knowledge and innovation community supported by the European Institute of Technology, which has supported since its foundation around 450 companies in the sustainable energy field, focusing on energy storage, sustainable buildings and cities, renewable energies, smart electric grid, energy efficiency, energy for circular economy and energy for transport and mobility.
As an associate professor in the Department of Operations, Innovation, and Data Sciences at the Spanish business school Escuela Superior de Administración y Dirección de Empresas (ESADE), Elena Bou is active in researching and teaching in the field of knowledge and innovation management. She holds a PhD in management sciences from ESADE and is the author of several publications in the fields of knowledge management, collaborative innovation, and entrepreneurship.
Lord Nicholas Stern is an expert in the economics of climate change. He has been chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science since its foundation in 2008.
Over the past 20 years, he has made an outstanding contribution to international climate policy, and to promoting the transition to sustainable, inclusive, and resilient economic development and growth. His report “The Economics of Climate Change: The Stern Review,” published in 2006 and commissioned by the British Government, had a broad impact nationally and worldwide on decision-makers and business leaders.
Through his advisory role at the United Nations, the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development and the World Economic Forum he improved the understanding of the costs of inaction on global climate change.
In his research activities, Nicholas Stern focuses on the topics of economic development and growth, economic theory, tax reform, public policy and the role of the state and economies in transition. His many honorary degrees, prizes, citations and publications in the most renowned journals testify to a high level of recognition from his peers.
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In order to assist the earth in learning about the features of its businesses, MDEC aims to be a catalyst.6 month event enables numerous meetings to take place around specialized activities.Can a six-week collection of technology events in Malaysia that culminate on Monday, November 6 to Wed, October 8 help propel…Continue Reading
79% of investors view ESG as central to their investment calculus
Playbook offers practical advice on foundational governance principles
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Potential to develop impactful innovations to meet energy transition
Committed to building partnerships locally, and regionally for startups
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South Korea and Saudi Arabia announced their intent to “deepen and advance” bilateral relations in a joint statement issued on the occasion of President Yoon Suk Yeol’s visit to Riyadh from October 21-24.
The announcement was a reminder that while the US and Europe focus on the conflict between Israel and the Palestinians, Saudi Arabia’s turn to Asia continues – and that China is not the only East Asian power displacing Western influence in the Middle East.
South Korean President Yoon led a delegation of government officials and business leaders that met with Crown Prince and Prime Minister Mohammed bin Salman and other Saudi counterparts to discuss trade and investment, infrastructure, energy and defense.
The result was a long and detailed list of initiatives building on the “Future-oriented Strategic Partnership” announced by the two sides when the Saudi leader visited Seoul in November 2022. A Strategic Partnership Council will be established to coordinate their joint activities.
The Saudi-Korean Investment Forum 2023 was held during Yoon’s visit, with representatives of both countries’ public and private sectors participating. It resulted in more than 50 agreements ranging from hydrogen energy, water desalination and agriculture to electric vehicles, tourism and cybersecurity. The total value of the deals was reported at $15.6 billion.
The Saudi Arabian Oil Company (Aramco) alone reached 10 agreements with Korean companies covering collaboration in ammonia off-take and logistics, low-carbon energy exploration, information exchange related to Aramco’s Thermal Crude to Chemicals technology and collaboration in venture capital investment and start-up financing.
Four of the agreements were with S-Oil, which is 63.4%-owned by Aramco. Agreements were also clinched with Doosan to establish a casting and forging facility in Saudi Arabia to produce valves, pumps, compressors, gas and wind turbines, and other products; Korea Electric Power Corporation for a study of the ammonia supply chain; POSCO and Hyundai Oilbank to explore potential collaboration in blue hydrogen and ammonia; and the Export-Import Bank of Korea to develop strategic financing.
Separately, Saudi Aramco signed contracts with Hyundai Engineering & Construction for the construction of a gas processing plant and with the Korea National Oil Corporation for a joint oil storage project during Yoon’s visit. South Korea is the third largest buyer of Saudi oil after China and Japan and depends on Saudi Arabia for nearly 40% of its crude oil supply.
Private investments in refining, petrochemicals and hydrocarbon resource technology are a priority for both sides. The joint statement noted that work on the Shaheen petrochemical project in Ulsan has been progressing smoothly since a groundbreaking ceremony last March.
The joint statement laid out a scenario that sums up the Future-oriented Strategic Partnership in the energy sector, with South Korea acknowledging Saudi Arabia’s “pioneering role” in the future of energy and avowing to “strengthen cooperation” across the gamut of nuclear, renewable, wind, solar and clean hydrogen energies.
On the latter, the two sides signed the Hydrogen Oasis Initiative (H2Oasis) to strengthen their partnership and support project developments in the fuel.
Moreover, Hyundai Motor and Saudi Arabia’s Public Investment Fund will form a joint venture to build an auto-assembly plant in Saudi Arabia with a capacity of 50,000 internal combustion engine and electric vehicles per year. Production is scheduled to begin in 2025.
Naver, South Korea’s largest internet company, signed an agreement with the Saudi Ministry of Municipal and Rural Affairs and Housing and Ministry of Investment to create a cloud-based digital twin platform for smart city urban planning, monitoring and disaster prevention in the cities of Riyadh, Medina, Jeddah, Dammam and Mecca.
Naver senior executive Chae Seon-ju hopes that “Naver will serve as a bridge for the export of Korean IT [information technology] startups to the Middle East.” His efforts should be supported by cooperation between the two countries in the protection of intellectual property.
The joint statement notes that the dispatch of South Korean experts has contributed to the development of Saudi Arabia’s National IP Strategy of Saudi Arabia and capacity-building for Saudi patent examiners.
In addition, a South Korean consortium led by food and beverage company Nongshim will provide “smart farm” infrastructure to Saudi Greenhouse for year-round production of strawberries. Temperature, humidity and sunlight in the indoor gardens are monitored and regulated automatically.
The two countries also celebrated the 50th anniversary of Korea-Saudi cooperation in the field of construction and agreed that South Korea would support Saudi Arabia’s large-scale economic development projects.
These include the NEOM industrial, residential and recreation project in the northwest of the country, which will be powered by renewable energy, and the Red Sea tourism project along the coast.
The joint statement does not provide much detail on military matters, but does contain a brief section entitled “Strengthening Cooperation in the fields of Defense, Defense Industry and Combating Terrorism.”
President Yoon was reported to have had a successful meeting with Saudi Defense Minister Khalid bin Salman Al Saud and Minister of National Guard Abdullah bin Bandar bin Abdulaziz Al Saud.
According to South Korea’s Yonhap news agency, Defense Minister Khalid “said that the two countries’ defense industry cooperation, which is close to producing results, will be a new milestone in their partnership. He also expressed hope for next-generation defense industry cooperation and proposed a comprehensive partnership that includes technological collaboration and joint production.”
Yoon’s office told the media that he had “called for deepening the scope of defense cooperation to include defense training, joint exercises, visits to military bases and people-to-people exchanges.”
His security advisor Kim Tae-hyo said that discussions in areas including missile defense and artillery are “in the final stage,” according to Yonhap.
This is the realpolitik side of Saudi Vision 2030, the long-term national development strategy developed by Prime Minister Mohammed bin Salman and his Council of Economic and Development Affairs to build “a vibrant society, a thriving economy and an ambitious nation.”
“In order to achieve a thriving economy, the kingdom will diversify its economy and create dynamic job opportunities… through commitments to education, entrepreneurship and innovation, unlocking underdeveloped industries such as manufacturing, renewable energy and tourism,” the vision statement says.
This is not the vision of a Saudi society that wants or needs to choose between only the US or China. And it’s a vision that fits with South Korea’s own modernization ambitions in an increasingly multipolar world.
Follow this writer on Twitter: @ScottFo83517667