Paris, 30/01/2024
After the 10 quantum packs already set up in the energy sector, the discovery of new drugs, manufacturing processes for the semiconductor industry, the aeronautics, space and defense industries and insurance, the Ile-de-France region has decided to extend this scheme further by supporting the projects led by La Matmut and QbitSoft and the one led by Natixis CIB and Multiverse Computing. While the Paris region is thus helping to reinforce its European leadership in the deployment of quantum technologies, the insurance and banking professions are confirming their leading interest in using the advantage provided by quantum computing.
In partnership with Teratec, GENCI and Lab Quantique, the Ile-de-France Region is supporting the 11th and 12th initiatives benefiting from the quantum packs, in order to encourage the appropriation and development of quantum computing by economic players - industrialists and startups - in Ile-de-France and beyond. Young innovative companies receive funding from the region to explore the potential of quantum technologies for usecases proposed by industrial companies, today exploiting digital simulation codes that are particularly consuming in terms of computing power.
A Quantum Advantage for Fraud Detection: AQADEF
This first project brings together insurer La Matmut and startup QbitSoft, who had already presented a joint exploration approach on the Quantum Village by HQI stand at Vivatech, in June 2023. In a context where insurance fraud is on the rise, the amount of data to be processed and the regulations surrounding its use are an obstacle to effective detection. However, the use of probabilistic graphical models (PGMs) can reduce exposure to fraud, despite several limitations linked to the large size of data sets, which makes identifying the best graph, on the one hand, and optimizing the model, on the other, complicated. The postulate made by La Matmut and QbitSoft for the AQADEF project, is that quantum computing could overcome both these problems.
Risk assessment of derivative portfolios using quantum regression of GAUssian PROcesses: GAUPRO
Successive financial crises have highlighted the need to better monitor, quantify and detect financial risks. The GAUPRO project brings together Natixis CIB and Multiverse Computing to explore the potential of kernel models to optimize the evaluation of financial products and their risk metrics:
- Factor risk sensitivities of financial products, which allow potential losses to be anticipated based on the dynamics of risk factors.
- Value-at-risk (VaR) and Expected Shortfall (ES), which estimate expected losses at given quantiles
These calculations are performed using Monte-Carlo methods, among others. Recent developments in kernel models (Gaussian processes) seem to show that they are well suited to the problem. However, when there are many risks, these models lose their predictive capacity. The use of quantum and quantum-inspired algorithms would improve these capabilities via an increase in learning capacities, thus facilitating the evaluation of complex financial portfolios."
These two projects have already started, and will run for two years. They will exploit the computing capabilities provided by the HQI (France Hybrid HPC Quantum Initiative) platform, funded by France 2030 as part of the National Quantum Strategy. The results obtained will be published by the participants, who will ensure their adoption by the various target communities: those of hybrid quantum computing, but also players in banking and insurance.
The Île-de-France Region's quantum pack
In partnership with Teratec, GENCI and Lab Quantique, the Île-de-France Region is reinforcing its leadership in acquiring the quantum advantage by promoting the appropriation and development of quantum computing by economic players, manufacturers and startups. Spread over three years, this program will help reinforce the Paris Region's - and more broadly France's - leadership in the quantum field on a European scale, and enhance the international competitiveness of local companies. It thus aims to promote the dynamism and attractivenesś of the Île-de-France region to attract new companies.
Press and media contacts
GENCI Nicolas Belot - nicolas.belot@genci.fr - +33 (7) 60 99 95 10
TERATEC Emmanuelle Vergnaud - emmanuelle.vergnaud@teratec.fr - +33 (6) 33 69 65 58
Le Lab Quantique Kenzo Bounegta - kenzo@lelabquantique.com - +33 (6) 18 75 63 25
About GENCI
Created by the public authorities in 2007, GENCI (Grand Équipement National de Calcul Intensif) is a major research infrastructure, a public operator aiming to democratize the use of digital simulation through high-performance computing associated with the use of artificial intelligence and quantum computing to support French scientific and industrial competitivenesś.
GENCI pursues three missions:
- Implement the national strategy for equipping French scientific research with high-performance computing resources associated with Artificial Intelligence, storage, massive data processing and quantum computing, in conjunction with the 3 national computing centers (CEA/TGCC, CNRS/IDRIS, France Universités/CINES)
- Support the creation of an integrated HPC ecosystem on a national and European scale, and contribute to strengthening European computing capacities within the framework of the PRACE infrastructure and the EuroHPC initiative.
- Promote digital simulation and supercomputing to academic research and industry
GENCI is a civil companý 49% owned by the State represented́ by the Ministry in charge of Higher Education and Research, 20% by CEA, 20% by CNRS, 10% by the Universities represented by France Université and 1% by Inria.
About Teratec
A European competence cluster in high-performance digital technologies bringing together more than ninety companies, research laboratories and grandes écoles, Teratec was created in 2005 on the initiative of leading industrialists with the objectives of:
- Federate all industrial and academic players, suppliers and users,
- Give access to the most powerful systems,
- Promote and increase the attractiveness of the field by fostering economic development.
The Teratec Quantum Computing Initiative (TQCI) launched in 2018 federates industrial users, technology providers and research centers to develop skills in the field of quantum computing and support its members towards a better understanding of what the use of quantum technologies could bring them. https://teratec.eu
About Lab Quantique
Lab Quantique is an association under the French law of 1901, whose mission is to promote quantum technologies in France and internationally. To create synergies between public players, academics, major groups and startups, Le Lab Quantique organizes events (workshops, hackathons, scientific and artistic exhibitions) bringing together all the players in the ecosystem. It produces content to promote quantum technologies and help identify use cases, coordinates regional and national funding initiatives and supports workforce development by connecting innovation and talent.
The association's board is made up of members from QC Ware, Pasqal, Quantinuum, Quantonation, BMW Group and QuantX. The association has also received the support of leading French industrialists and public institutions such as BPI.
About QbitSoft
QbitSoft is a young French company, founded in early 2022, which designs and markets quantum algorithmic modules on a "Quantum-as-a-service" cloud platform enabling companies in various sectors, including logistics or finance, to optimize and boost their critical Business processes.
QbitSoft's innovative approach is to select mathematical models for optimization and Quantum Machine Learning to bring companies real benefits, today, from quantum computers already available, and then to support them, over time, to optimally exploit the value created by future quantum technologies.
QbitSoft's mission is to make quantum technologies simple and exploitable in order to help companies prepare for the "quantum revolution".
QbitSoft is based in the Île de France Region.
About La Matmut
With 4.5 million members and 8.2 million insurance contracts under management, the Matmut Group is a major player in the French insurance market. It offers everyone - individuals, professionals, companies and associations - a comprehensive range of personal and property insurance products (car, motorcycle, boat, home, liability, family protection, health, provident, legal protection and assistance) and financial and savings services (car loans, project loans, loan insurance, savings books, via insurance, retirement savings plans, etc.). The Matmut Group currently employs 6,500 people. SGAM Matmut achieved sales of 2.5 billion euros in 2022.
About Multiverse Computing
Multiverse Computing is a leading quantum software company, specializing in the design and development of quantum or quantum-inspired solutions to solve complex problems in various sectors, including finance, with the aim of delivering immediate value and contributing to a more resilient and prosperous economy.
The company's expertise in quantum and quantum-inspired algorithms enables it to achieve optimal results from both current quantum computers and high-performance classical computers. Its flagship product, Singularity, enables professionals in all sectors to use quantum computing to accelerate and improve the accuracy of optimization and AI models using familiar software tools. The company has also developed CompactifAI, a compressor that uses tensor networks to make large language models (LLMs) more efficient and portable. In addition to activities in finance and AI, Multiverse Computing offers its services to companies in the mobility, energy, life sciences and Industry 4.0 sectors.
The company is based in San Sebastian, Spain, with subsidiaries in Toronto, Paris and Munich.
About Natixis Corporate & Investment Banking
A leading international financial institution, Natixis Corporate & Investment Banking provides corporations, financial institutions, financial sponsors, sovereigns and supranationals with a range of advisory, investment banking, financing, commercial banking and capital markets services.
Our teams of experts, present in around 30 countries, advise customers on their strategic development, supporting them in the expansion and transformation of their activities while maximizing their positive impact. Natixis CIB is committed to aligning its financing portfolio on a carbon-neutral trajectory by 2050, while helping its customers to reduce the environmental impact of their business.
Natixis CIB is part of the Global Financial Services division of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d'Epargne networks. It benefits from the Group's financial strength and solid ratings (Standard & Poor's: A, Moody's: A1, Fitch Ratings: A+, R&I: A+).