Quantum-Inspired Computing to Find Cost-Effective Logistical Solution for Energy Sector
Optimising energy storage and transport with Fujitsu
Points to note…
+ The transportation and storage of oil and gas, with its associated costs and fees, is certainly one of the more challenging aspects, particularly as any amended strategy will still need to factor in speed, safety and scheduling predictability while still keeping to the lowest cost possible.
+ Although the quest for greater efficiencies for transport and storage has always existed to a degree, the fluctuating prices of fossil fuels have made it a newly strategic method for mitigating against profit losses.
+ The current climate has made this difficult: an article by Brown Brothers Harriman found that LOOP Crude Oil Storage Futures’ costs had risen 500% (100,000 barrels of crude stored for one month previously cost US$7,000, but, after 20 April, had risen to $55,000).
“These kinds of logistical problems, involving hundreds or thousands of variables, are among the most difficult mathematical equations to solve […] they can have quintillions of possible solutions,” Fujitsu states.
+ Inspired by the key characteristics of quantum computing, Fujitsu’s Quantum-inspired Digital Annealer solution can evaluate multiple potential options simultaneously and deliver incredibly fast results; The Digital Annealer is the perfect tool for helping companies solve storage and transport challenges at a time when they are most needed.
+ “The mathematics needed to find the quickest, most cost-effective allocation is well beyond what the fastest conventional computing systems can provide. There is, however, one technology model perfectly suited to answering these questions: quantum-inspired computing.”
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