Abstract Computing nonlinear functions over multilinear forms is a general problem with applications in risk analysis.
For instance in the domain of energy economics, accurate and timely risk management demands for
efficient simulation of millions of scenarios, largely benefiting from computational speedups. We develop a
novel hybrid quantum-classical algorithm based on polynomial approximation of nonlinear functions, computed
through Quantum Hadamard Products, and we rigorously assess the conditions for its end-to-end
speedup for different implementation variants against classical algorithms. In our setting, a quadratic quantum
speedup, up to polylogarithmic factors, can be proven only when forms are bilinear and approximating
polynomials have second degree, if efficient loading unitaries are available for the input data sets. We also
enhance the bidirectional encoding, that allows tuning the balance between circuit depth and width, proposing
an improved version that can be exploited for the calculation of inner products. Lastly, we exploit the
dynamic circuit capabilities, recently introduced on IBM Quantum devices, to reduce the average depth
of the Quantum Hadamard Product circuit. A proof of principle is implemented and validated on IBM
Quantum systems.
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