- IBM teamed up with major companies including Samsung and JPMorgan to develop quantum computing
- These companies and others including Barclays and Daimler will look at quantum computing applications across different sectors such as automotive and financial services
- IBM also said it will establish regional hubs at universities across four continents to help research quantum computing
IBM has teamed up with major companies including Samsung, JPMorgan, and Barclays, to develop quantum computing for commercial use, the U.S. technology giant announced Thursday.
Those firms along with nine others are working with IBM to build out quantum computing using the company's open source software and developer tools.
Quantum computing is seen as the next generation of computing, able to solve problems that current machines can't.
It's still in its early stages, but IBM is hoping to become a leader in the quantum computing space by bringing large companies on board to help commercialize the technology.
JPMorgan said it will focus on quantum computing applications for the financial industry including trading strategies, portfolio optimization, asset pricing and risk analysis.
Another partner Daimler, the owner of Mercedes Benz, said it was researching how quantum computing could be used to find and develop new materials for automotive applications, and how it could help optimize manufacturing processes, fleet logistics, and driverless cars.
Samsung said it will explore use cases where the technology may impact the future of the semiconductor and electronics industry.
"IBM sees the next few years as the dawn of the commercial quantum era — a formative period when quantum computing technology and its early use cases develop rapidly," Dario Gil, vice president at IBM Research, said in a press release.
IBM Q is the name the company has given to its quantum computing development initiative. It is aiming to establish regional hubs at universities across four continents to help research quantum computing.
The planned locations for the hubs are at IBM Research, Keio University in Japan, Oak Ridge National Lab in the U.S, the U.K.'s Oxford University and the University of Melbourne in Australia.