Megatrends 2024: Exploring the Convergence of Artificial Intelligence and Quantum Computing

Today, emerging trends and innovative technologies are redefining the global landscape at an unprecedented rate. In this context, the Bankinter Innovation Foundation invites us to immerse ourselves in the Megatrends 2024 report. This in-depth and detailed study, presented by Marce Cancho, Director of the Future Trends Forum & Communication, anticipates the key transformations that will shape our future. With the collaboration of more than 775 international experts, this report gathers consensus and projects new avenues of development in critical and promising areas, anticipating the innovation trends that will mark the future of humanity:

1. Advanced artificial intelligence: beyond generative artificial intelligence.
2. Mixed reality: recreating our future.
3. Urban revolution: from the smart city to the wise city.
4. Precision medicine to cure the incurable and live better.
5. Educating to innovate: the future of talent.
6. Connect sustainability to today’s world.
7. Investigate space to improve life on earth.
8. Neuroscience and Neurotechnology to better understand the brain.
9. Digital security in constant transformation.
10. Hybrid computing: the revolution of classical computing.

This report is a unique opportunity to anticipate the future, understanding the forces that are shaping tomorrow and how we can prepare for the changes that are to come. Each of these trends will be explored to better understand how innovation can connect to sustainability, improve education and safety, and even expand our frontiers into space.

With the presentation of the report, we begin a series of events focused on the analysis of megatrends, with the participation of two leading experts in the first webinar: José Ignacio Latorre and Fernando Domínguez, who will explore the convergence between quantum technologies and artificial intelligence. These fields promise to advance our current knowledge and open new frontiers in solving complex problems and creating unprecedented opportunities.

In the field of disruptive technologies, few figures are as prominent as José Ignacio Latorre and Fernando Domínguez. Both experts bring with them an impressive background in the world of quantum computing and artificial intelligence.

José Ignacio Latorre is an undisputed benchmark in quantum computing, convinced that the synergy between this discipline and artificial intelligence represents a transformative future. Professor of theoretical physics at the University of Barcelona, José Ignacio leads the Centre for Quantum Technologies in Singapore and plays a crucial role as chief researcher at the Abu Dhabi Institute for Innovation Technology. In addition, he is a co-founder of Kilimanjaro Quantum, a company dedicated to democratizing access to quantum technologies.

Fernando Domínguez has dedicated his career to using technology to generate a positive impact on society. He currently holds the position of Vice President at Sandbox AQ. This company is a pioneer in integrating both technologies to solve complex problems with a positive social impact. Prior to his role at Sandbox AQ, Fernando was a key part of Google Alphabet, leading the expansion of services and products in Latin America from Google Mexico, and later, he joined Alphabet’s secret innovation lab, Google X, where he spent six years incubating tech startups in sectors as diverse as energy, aerospace, transport and robotics.

These two visionaries bring their deep technical knowledge and also a philosophical and practical approach to face and solve the challenges presented by the modern world through the most advanced technologies.

If you want to watch the webinar, you can do so here:

Megatrends 2024 with José Ignacio Latorre and Fernando Domínguez

Below, we summarize the ideas discussed in the webinar:

Recent Advances in Quantum Computing: José Ignacio Latorre’s Perspective

José Ignacio Latorre shares the significant progress in the field of quantum computing that has been achieved over the last year, since he participated in our Future Trends Forum Quantum Computing and Artificial Intelligence, a time that he describes as very intense and not at all boring.

José Ignacio begins by explaining the reason for the excitement surrounding quantum computing: we are managing to manipulate matter at its most fundamental level. He exemplifies this by mentioning how an ion is used today to create extremely precise clocks or how a single nitrogen atom can detect magnetic fields with surprising accuracy.

Then, it focuses on describing four key platforms that represent the most outstanding advances in this field:

• Superconducting currents: Despite technical challenges, such as the need to cool these systems to 10 milli kelvin, advances have been made in using superconducting currents to encode quantum bits, or qubits. However, José Ignacio openly points out persistent problems such as interference (“cross-talk”) between qubits and limited coherence times, although he also acknowledges significant improvements in materials.

• Trapped ions: In this area, the development of a quantum computer by the company Quantinuum stands out, which will soon launch 56-qubit machines and before the end of the year, 96-qubit machines. This evolution is particularly significant because it marks a milestone in quantum computing: the ability to explore computational domains that are completely inaccessible to classical machines. According to José Ignacio, these advances demonstrate the technical superiority of Quantinuum’s devices, and open the door to a new era of discoveries and applications in computing, comparable to the great geographical discoveries of the past. These new models promise to expand the frontiers of knowledge and technology, allowing scientists and technologists to enter entirely new terrain—true “uncharted lands” in computing.
• Neutral atoms: Highlights a Harvard experiment that has made breakthroughs in correcting quantum errors within a gas cloud of cold atoms, an impressive achievement in academic research that also has very interesting potential practical applications.
• Photons: Regarding research with photons, José Ignacio expresses some uncertainty and caution. He stresses that, in this field, the level of secrecy and the lack of clear and definitive results greatly complicate the evaluation of progress. To date, a complete prototype has not yet been developed that would allow the fidelity of the system as a whole to be effectively assessed, and not just of the logic gates as the individual components. The absence of such an assessment makes it challenging to formulate firm opinions on progress in this area, thus maintaining an atmosphere of expectation and speculation among experts and the scientific community.

José Ignacio concludes that progress in quantum computing continues to be unstoppable and is developing at the pace of cutting-edge science, something he considers spectacularly exciting and fundamental for the future control of matter at its most essential level.

Why quantum technologies

Latorre’s focus is not limited only to the “how” of these technologies, but, more profoundly, to the “why”.

José Ignacio states that his dedication to science is not only a career choice, but a passion driven by the understanding of nature and the search for an unbiased truth. He compared science to great art, highlighting its role in understanding the universe and its ability to lead humanity to achievements comparable to the exploration of new territories, such as Antarctica, or dimensions of time so brief that they can hardly be imagined, such as times on the scale of attophysics.

In addition, José Ignacio touches on a crucial point about the practical application of these theoretical advances. He mentions his work in Singapore, where the pressure to translate these scientific discoveries into business applications is intense. As Director of the Center for Quantum Technologies and other national programs, he faces the challenge of balancing pure exploration with the need for actionable results. In a resource-limited country like Singapore, this task is especially challenging but crucial.

Through these programs, José Ignacio is working hard to bring quantum science from the lab to the market, showing what can be done with these technologies and how they can be integrated into society to solve real and tangible problems. This vision of applied science is reflected in their dedication to thinking first about the end goals and then about the methods to achieve them, an approach that enriches both the scientific community and the business sector.

Key Strategies at Singapore’s National Quantum Computing Hub

José Ignacio Latorre delves into the core strategies that are defining the direction of the National Quantum Computing Hub. It highlights four broad areas of focus, selected after extensive discussions and considerations about the talent and resources available in Singapore.

• Computational biology: highlights computational biology as one of the most promising and powerful areas, comparing it in importance to artificial intelligence. He stresses that no other area has as much potential as the study of human ageing and the improvement of quality of life. This field, he says, is crucial and is advancing as we better understand, in a mathematical way, fundamental structures such as DNA and RNA.
• Quantum chemistry: Quantum chemistry was identified as the second main pillar. This field is gaining relevance not only in academia but also in industry, especially in regions rich in oil resources such as Abu Dhabi, where large oil companies are beginning to explore the possibilities that quantum chemistry can offer.
• Finance: The financial sector is another critical area where quantum computing is creating high expectations, especially when it comes to energy savings and cost reduction. José Ignacio mentions that they are collaborating with renowned financial institutions such as JP Morgan and OCBC Bank.
• Optimization: Optimization was identified as the fourth fundamental pillar. Although other topics such as fluid dynamics are also considered important, optimization has been chosen as a safe bet due to its universal application and its ability to significantly improve efficiency in various fields.

In addition, it highlights the importance of having well-informed and bias-free decision teams, and the importance of global cooperation in the advancement of quantum computing.

Ethical Implementation Strategies and Experimentation

How to turn these technological innovations into sustainable and ethical businesses? Latorre stresses the importance of an approach that respects fundamental ethical principles, arguing that any economic progress that ignores these principles is bound to generate social tensions and compromise the overall happiness and well-being of society.

Therefore, it stresses the importance of establishing conscious limitations in technology to protect vulnerable sectors of the population, such as children and the elderly, emphasizing that technological capacity should not exceed the limits of what is safe and ethical.

Practical implementation: the sandbox concept

The specific strategy for implementing these principles in Singapore involves the use of “sandboxes”. A “sandbox” in this context is a controlled, experimental environment where scientists, banks, and consultants can collaborate on concrete projects without the worry of administrative bureaucracy. This approach allows participants to focus on innovation with controlled risk and protected data. José Ignacio details the creation of a finance sandbox in Singapore as an example of how these challenges are being addressed. In this collaborative space, the real issues presented by banks are explored in a safe and regulated environment, with the support of financial and administrative experts. The idea is that, if an experiment is successful, it will expand; otherwise, the losses and risks will be minimal.

The hub is now working to establish a more ambitious “big sandbox,” concentrating on areas such as computational biology and precision medicine. This new project involves only institutes that are truly competent in these fields.

The type of partners they seek to include in these projects are not those who have been successful in the past by traditional practices, but those who understand and are prepared for the complex future that advanced technology will bring. The focus is on collaborating with companies, both established and startups, that recognize that the future will involve non-trivial challenges and are willing to face them together.

Creating human teams: efficiency and excellence

José Ignacio Latorre reveals his preference for minimalist and highly competent work teams. Unlike organizational structures that have hundreds of members, where often only a few people are directly involved in innovation and critical solutions, José Ignacio advocates for small and agile teams. In addition, it highlights the importance of having exceptionally skilled individuals in these small teams. The key to success, according to him, lies in the quality and not in the quantity of the members. Their goal is to form teams that act as “platoons” in the field of technology: small, efficient groups with the ability to solve complex problems directly and effectively.

José Ignacio also mentions his intention to integrate outstanding talent from the business world into these teams, which suggests an interdisciplinary and highly selective approach in the formation of working groups within the National Quantum Computing Hub.

Innovation and collaboration: the strategy of Sandbox AQ by Fernando Domínguez

During his speech at the Megatrends2024 webinar, Fernando Domínguez, Vice President at Sandbox AQ, provides an in-depth insight into the company’s philosophy and operational strategy, highlighting its unique approach to the interaction between academia and industry.

Origins and philosophy of Sandbox AQ

Fernando explained that the name “Sandbox” comes from the idea of a play space, similar to the sandboxes of playgrounds, where it is possible to experiment and explore freely. Sandbox AQ originated as a “mini secret team” within the secret Google X lab, with a mission to create companies. The company’s first hire was Stefan Leichenauer, a professor of quantum physics at UC Berkeley, who is now the vice president of engineering at Sandbox AQ.

Integration of artificial intelligence and quantum technologies

Sandbox began by exploring the convergence of artificial intelligence and quantum technologies, two fields that, while not new, are finding new applications when combined. This integration seeks to use artificial intelligence to make quantum technologies accessible and apply quantum physics models to everyday software engineering problems.

Educational and collaborative approach

An essential part of Sandbox AQ’s strategy has been continuing education and collaboration. Professors from prestigious institutions such as Berkeley and Stanford were invited to teach courses at Google, teaching new techniques and models for solving complex data problems. These courses inspire and attract new talent.

Innovation through experimentation

Innovation in Sandbox AQ often starts with small, scalable experiments. For example, tensor networks, common in quantum physics, were used to explore computational chemistry using Google-designed GPUs. The result was so promising that it led to the development of larger projects.

Fernando highlights how Sandbox AQ differentiates itself in its approach to emerging talent, especially those who are in the final stages of their PhD or recent graduates. The company offers these young talents the opportunity to “play” in real projects for certain periods of time, providing them with the resources and freedom necessary to explore their interests. This method has allowed Sandbox AQ to maintain a strong relationship with academia and attract talent who deeply understands the company’s culture and mindset.

Success stories and future projections

One of the most prominent projects of Sandbox AQ began with an experiment conducted by a Harvard researcher, who developed a quantum sensor capable of making high-precision heart measurements. This initial project, which began with a prototype the size of a desk, has been miniaturized to something as small as a shoebox and is now used in hospitals. In addition to reducing costs by an order of magnitude (from several million dollars to hundreds of thousands), it makes it possible to bring advanced diagnostic technology to places that previously did not have access to it.

In summary, the strategy of Sandbox AQ, according to Fernando Dominguez, focuses on the rapport between academia and industry, the pragmatic use of emerging technologies, and a strong orientation towards listening and responding to market needs. Fernando tells us that, although they do not currently use quantum computers for their solutions, they are prepared to integrate them as soon as they prove useful to solve current problems and add tangible value.

Sandbox AQ Trading Applications and Strategies

Fernando Dominguez delves into how Sandbox AQ has managed to capitalize on the convergence between artificial intelligence and quantum technologies to create revolutionary applications. He highlights that this synergy has opened up a “new ocean” of opportunities, which led to the departure of Alphabet and the founding of a new company led by Eric Schmidt, with renowned investors such as Schmidt himself, Guggenheim Investments, Breyer Capital and T. Rowe Price.

Fernando explains how Sandbox AQ specializes in transforming advanced theories into practical applications that the market can understand and value. He gave as an example the development of a “quantum navigator” or magnetometer, which, although based on technology that has existed for some time, has been perfected using artificial intelligence to filter out noise and improve the accuracy of Earth’s magnetic measurements.

Fernando highlights the importance of effective communication to turn technological innovations into successful commercial products. In Sandbox AQ, even newcomers from academia are trained in public communication skills so that they can clearly explain the benefits of the technologies to potential customers, such as banks or governments. This strategy has enabled the company to translate complex technical capabilities into clear economic benefits, such as reducing fraud losses.

Finally, Fernando underlines the close relationship between Sandbox AQ and the scientific community, mentioning how collaboration with scientists such as José Ignacio Latorre allows Sandbox to identify and use research that is ready to be transformed into practical applications. This collaboration is critical to “building bridges” that connect theory to practice and ensure that innovations are commercially successful.

Perspectives on the future of Artificial Intelligence

José Ignacio and Fernando share their thoughts and experiences on the evolution and impact of AI.

José Ignacio recalls his beginnings in AI, highlighting how since the 90s, the perception and application of neural networks have changed radically. He recalls how, initially, his proposal to use AI to analyze data at CERN was met with skepticism, but today it is a standard and mandatory method. He predicts that AI exploration will continue to diversify, with research ranging from general intelligence to specific applications to specialized foundational models. He was optimistic about the future, expecting a steady increase in talent in the field and accelerated progress in multiple directions.

Fernando reflects on his daily experience with AI, describing it as a “drug” because of the constant desire to stay on top of the latest models and applications. He highlighted how AI is already improving productivity in routine and bureaucratic tasks, and how its application is expanding into science, promising advances in the development of new drugs and materials. He also expresses his vision for how AI can help democratize access to technology, simplifying interfaces so that older or less technologically educated people can benefit from technological advances.

Both speakers underline the importance of considering the right time for the introduction of new technologies. Fernando mentions the documentary “General Magic,” which illustrates how advancing certain technologies before society is ready can lead to failure. They agree that the responsibility of innovators includes developing new technologies and, at the same time, educating and preparing society for their adoption.

In short, both José Ignacio and Fernando see a vibrant and multifaceted future for artificial intelligence, full of opportunities for both the improvement of everyday processes and scientific and technological revolutions. However, they emphasize the need for a considerate implementation that is sensitive to the social and temporal context.

Questions and answers: implications and future of quantum computing

Integration of quantum computing into production processes

When asked about the integration of quantum computing in production processes, José Ignacio explains that the adaptability of quantum computing depends on the nature of the problem to be solved. He mentions that, just as different problems require different tools, quantum computing is ideal for problems that involve little data, but intense calculations, in contrast to classical supercomputers that handle large volumes of data with less intense calculations. He proposes that the future adoption of quantum computing in enterprises will likely be in the form of hybrid computing, combining classical and quantum as needed.

Impact of quantum computing on other technologies

In relation to which technologies could be affected by quantum computing, José Ignacio highlights that, rather than harming, quantum computing should be seen as complementary to existing technologies. He specifically mentioned cryptography as an area that will benefit from quantum computing, as it will drive the development of more advanced encryption methods. Fernando adds that this evolution is an opportunity to modernize encryption globally, mentioning collaborations with companies such as Deloitte and Microsoft to update security and encryption systems.

Innovation in European companies

When discussing the possibility of replicating innovation models in Europe from corporations, such as Telefónica Innovación Alpha, Fernando affirms that it is totally feasible. He highlights the importance of innovation labs and mentions that the combination of European and American mindsets in the Sandbox is providing a robust model for innovation.

The role of startups in quantum innovation

On the role of startups in the quantum field, José Ignacio shares his personal experience as co-founder of Qilimanjaro, highlighting that although it is challenging to compete, especially with the level of support startups receive in places like the United States and France, there are still many opportunities to innovate. He encourages entrepreneurs to actively participate in this emerging field, comparing the current potential of quantum technology to the beginnings of the internet.

In summary, the Q session sheds light on how quantum computing is being integrated into the current technological fabric, complementing and enhancing existing technologies, especially in the field of cybersecurity. In addition, it underscores the importance of supportive environments to foster innovation through startups and large enterprises, highlighting the crucial role of adaptability and continuous learning in long-term success in technologies with AI and quantum.

If you want to watch the webinar, you can do so here:

Megatrends 2024 with José Ignacio Latorre and Fernando Domínguez

If you are interested in the convergence of Artificial Intelligence and Quantum Computing, don’t miss our report: