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Quantum Computing

A responsible approach to quantum readiness in the insurance sector

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Overview

  • Since its inception in 2022, AIOI R&D LAB-OXFORD has been dedicated to cutting-edge research and addressing business problems, with a special focus on the development and societal impact of quantum computers. In collaboration with Mind Foundry, known for its expertise in quantum technology, and Aioi Nissay Dowa's robust risk management and customer network, we aim to bring quantum computing solutions to the public.

Detail

Background

  • AIOI R&D LAB-OXFORD, established in 2022, is actively engaged in pioneering research and business problem-solving, particularly in the realm of quantum computing, anticipated to have a profound societal influence.

  • Mind Foundry, part of the UK's AutoQT consortium, brings valuable expertise and connections in the quantum field. Leveraging this, we launched a project aimed at utilizing quantum computers for societal solutions.

Hypothesis

  • We believe quantum computers, like classical computers, have the potential to revolutionize our world. One key area is optimization using annealers, particularly relevant to the insurance sector—for instance, optimizing logistics during disasters or for fleet management.

  • Innovations may also arise from other types of quantum computers. Being 'quantum-ready' could provide a competitive edge.

  • Integrating Mind Foundry's quantum technology and data science know-how with Aioi Nissay Dowa's insurance expertise and extensive customer network, we aim to transform theoretical quantum applications into practical business solutions, benefiting both commercial and academic spheres.

R&D

  • We have identified critical business challenges where quantum computing is likely to offer an advantage over classical methods, such as modelling accident risk and optimal traffic flows across a road network.

  • For scenarios suitable for annealers, we'll demonstrate real business value by addressing small-scale practical problems.

  • For future applications requiring advanced hardware, we're preparing by developing algorithms on classical computers.

Next Steps

  • Focus on developing solutions deployable with annealers.

  • Prepare for future projects requiring universal quantum computers.

  • Quantify the advantage offered by quantum computers across the business use cases identified.

Additional Resources

Learn more about our project

Link to Mind Foundry blog
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