Artificial Intelligence: AI and Advanced Analytics Solution Provider Fractal Bets Big on Quantum Computing

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Chennai: Artificial intelligence (AI) and advanced analytics solutions provider Fractal believes quantum computing is a big trend that will take shape in the long term.

“It’s not the need for today or tomorrow. It’s the need for the day after tomorrow,” said Srikanth Velamakanni, co-founder, managing director and vice president of ET Group. “But to be ready for the day after tomorrow you have to invest today and this is the approach taken by Fractal.”

He said the company is exploring a number of use cases across different areas. Some of these are in the health field, where the application of quantum computing in protein folding is expected to speed up research into diseases such as cancer, find new drugs, and launch new regimens. processing. Finance is another industry where quantum computing is expected to solve issues like asset pricing, dynamic portfolio optimization, and risk management. In addition, the supply chain and logistics offer immense opportunities.

Fractal also works with AWS to drive quantum computing use case development for its customers, as part of its vision to create a world-class Center of Excellence in Quantum Computing (CoE). Quantum Computing CoE will aim to achieve Fractal’s goal of inventing on behalf of its customers.

“We’re really interested in how we can help Fractal leverage, improve, and speed up the research part, but then how do they go into the information generation, the discovery part, bringing the performance of their existing solutions to a whole new level, or even solve problems that were not solved until now and cannot be solved on an ordinary regular computer.Health, finance, logistics and raw material optimization … these are the areas with which we are very happy to partner with Fractal for, ”said Kanishka Agiwal, Head of Service Lines, AISPL, AWS India and South Asia.

Fractal, an AWS advanced consulting partner, will use Amazon Braket to help leverage, improve and accelerate information search, discovery and generation, taking their performance to a whole new level, the company said.

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“Our intention is how can we help the Fractal team drive skill behavior when using Braket and once that is done can we provide a programming and subject matter expert to take advantage of? some of these quantum computers for their innovative solutions. ”

Last week, Fractal announced that it had raised $ 360 million in a new funding round from TPG Capital Asia. The company said the transaction is expected to close by the first quarter of 2022 and that the investment will accelerate its ability to scale and meet growing demand globally.

“We added around 41 new customers to our list and 2021 has been particularly good as part of the acceleration has come from Covid and its aftermath, as it has accelerated most of the trends already in play,” he said. he declares. “One of them is the need for digital transformation, the need to migrate to the cloud and the need for better intelligence in systems and across the organization. ”

Velamakanni said the company works with around seven of the top 10 consumer goods companies. In addition, Fractal also serves nearly three of the top five tech companies and some of the top tech companies in addition to the top five global banks. Important sectors are financial services, insurance and health care. The United States, Europe and Australia are the company’s most important markets.

“I’ve been doing this for a long time, but I’ve never seen an environment like I see it right now where all the attention has shifted from demand, which is unlimited, to supply because that’s where it is. find the challenges. How do we hire staff and meet the demand, which is really booming, “he said.

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