An Argentine wants to lead investments of more than 100 million dollars in quantum computing

Published in Forbes

It is the estimated value that the venture /q99 will capture in the next 5 years in Latin America. The union with artificial intelligence can result in truly unimaginable scenarios. Today a quantum computer can be valued at 25 million dollars.

Quantum computing, specialists behind the research estimate, will bring phenomena and new rules that will change almost everything known about computing. Thanks to superposition, a particular physical behavior, this new computing can solve problems that not even all the memory of conventional computing could solve today.

Starting with the basics, current computing works in bits. Computers only know how to read information in two states: zero or one. The difference that makes quantum technology special, and why it has such immensely great potential, is that its bits also work with the superposition of both states. This happens because the process does not occur mechanically, but thanks to the rules of quantum physics. By applying quantum logic to the world of computing, problems can be solved at high speed, in parallel, and with multiple results for each variable.

In this scenario, Facundo Díaz, at 48, has not yet recovered from the success achieved with the TravelX platform for ticket sales through NFTs incorporated by FlyBondi, which is already taking the first steps of his new project: /q99, the startup that managed to summon an interdisciplinary team of scientists and technology professionals, to promote the creation of an ecosystem that enhances the development of these technologies in Latin America.

The company is already venturing into key fields with high-impact projects: from transforming companies and businesses through hyper-personalization of products and prices, eradicating diseases through advances in medicine, and innovating in sustainability from the development of hyper-efficient value chains and supplies with a positive impact on the environment. In conversation with Forbes Argentina, Díaz indicated that “in the financial area, on the other hand, we are developing automated investment portfolio models, capable of optimizing returns, minimizing risks," explained Díaz, CEO of /q99.

In theory, quantum computing, with qubits instead of bits as a computing unit, is exponentially faster, processing complex calculations in seconds that would take centuries in classic systems. This ability greatly expands the potential of AI and Machine Learning, allowing learning and the generation of solutions without precedent.

"Latin America joined the AI revolution late, a technology that dates back to 1950, but can still be a leader in Quantum Computing. At /q99, we seek to develop a research and collaboration ecosystem to fully leverage the possibilities offered by this convergence of AI, Machine Learning, and quantum computing. We seek, support, and incubate projects. With more than 30 patents in development, our focus aims to drive innovation and develop talent in the region through partnerships with companies and universities to lead the next technological revolution," adds the CEO of /q99.

Beginning of the revolution

The multinational technology company IBM managed to develop a 433-qubit quantum processor at the end of 2022. With it, it obtained the record for the world's largest quantum computing system and this opened up a large number of scenarios to think about this technology and above all to be delivered to companies, states, or universities and research centers. According to market estimates, a quantum computer today is valued at close to 25 million dollars, an accessible figure for some conglomerate of companies or multinational that wants to research in the area.

There are not yet a significant number of stable applications (software) that allow solving concrete problems and that is why it is necessary to allocate resources to investigate proprietary technology that works on that computer.

"Most companies waste more than 90% of their data, using management software that only generates predefined results. In the age of AI, and especially when combined with quantum computing, this approach becomes obsolete," points out Díaz in conversation with Forbes and adds: “Our first development is an engine that captures and synchronizes huge amounts of internal and external data with AI models and quantum computational power. Once trained, these systems can manage any business process faster, more efficiently, and more sophisticatedly than the best current market softwares."

With projected investments of more than US$ 100 million in the next 5 years and agreements with global leaders in quantum computing, this startup is positioned as a protagonist in the technological and economic advancement of the region. Essentially the venture that already operates in the United States, Mexico, Colombia, and Argentina, seeks to develop a research and collaboration ecosystem to maximize the convergence of AI, Machine Learning, and quantum computing, a development at the moment unprecedented locally. “I would like Argentina to be a power in quantum computing as it is in blockchain," concluded Díaz.