A consortium made up of seven companies (Amatech, BBVA, DAS Photonics, GMV, Multiverse computing, Qilimanjaro Quantum Tech and Repsol), supported by five research centers (BSC, CSIC, DIPC, ICFO and Tecnalia) and a public university (Universidad Politécnica de Valencia), is launching the Cuco project for research into quantum computing applied to strategic industries of the Spanish economy: energy, finance, space, defense and logistics.
The Cuco project, subsidized by the CDTI and supported by the Ministry of Science and Innovation under the Recovery, Transformation and Resilience Plan, emerges as the first major quantum computing project at national and business level with the aim of advancing scientific and technological knowledge of quantum computing algorithms, through public-private collaboration between companies, research centers and universities to accelerate the implementation of these technologies for use in the medium term.
In addition, it will identify a series of relevant cases in the Spanish economy in which to carry out proofs of concept to study whether quantum computing could improve the performance of classical computing, responding to business needs and proposing the corresponding metrics. Use cases will be investigated in Earth observation, the fight against climate change and the environment, information traceability throughout the supply chain, optimization and simulation of complex financial calculations, signals intelligence, etc.
Quantum technologies, and specifically quantum computing, is set to play a disruptive role due to the impact it will have on many areas, given its massive computing capacity, and could mark a new technological era. Within the framework of this project, CSIC will collaborate with BBVA, developing quantum and quantum-inspired algorithms for the modeling and optimization of financial problems. As the principal investigator of the project, Diego Porras, explains, "we seek to understand the potential of quantum computers to accelerate the solution of these models, while advancing in the development of new algorithms that can be run on conventional computers, but which are inspired by quantum operation".