Quantum computation promises to advance a wide range of computational tasks. However, current quantum hardware suffers from noise and is too small for error correction. Thus, accurately utilizing noisy quantum computers strongly relies on noise characterization, mitigation, and suppression. Crucially, these methods must also be efficient in terms of their classical and quantum overhead. Here, we efficiently characterize and mitigate crosstalk noise, which is a severe error source in, for example, cross-resonance based superconducting quantum processors. For crosstalk characterization, we develop a simplified measurement experiment. Furthermore, we analyze the problem of optimal experiment scheduling and solve it for common hardware architectures. After characterization, we mitigate noise in quantum circuits by a noise-aware qubit routing algorithm. Our integer programming algorithm extends previous work on optimized qubit routing by swap insertion. We incorporate the measured crosstalk errors in addition to other, more easily accessible noise data in the objective function. Furthermore, we strengthen the underlying integer linear model by proving a convex hull result about an associated class of polytopes, which has applications beyond this work. We evaluate the proposed method by characterizing crosstalk noise for two chips with up to 127 qubits and leverage the resulting data to improve the approximation ratio of the Quantum Approximate Optimization Algorithm by up to 10% compared with other established noise-aware routing methods. Our work clearly demonstrates the gains of including noise data when mapping abstract quantum circuits to hardware native ones. History: Accepted by Giacomo Nannicini, Area Editor for Quantum Computing and Operations Research. Accepted for Special Issue on Quantum Computing. Funding: This work was supported by Bavarian state government; Bayerische Staatsministerium für Wirtschaft, Landesentwicklung und Energie. Supplemental Material: The software that supports the findings of this study is available within the paper and its Supplemental Information ( https://pubsonline.informs.org/doi/suppl/10.1287/ijoc.2024.0551 ) as well as from the IJOC GitHub software repository ( https://github.com/INFORMSJoC/2024.0551 ). The complete IJOC Software and Data Repository is available at https://informsjoc.github.io/ .

We present and analyze a quantum algorithm to estimate credit risk more efficiently than Monte Carlo simulations can do on classical computers. More precisely, we estimate the economic capital requirement, i.e. the difference between the Value at Risk and the expected value of a given loss distribution. The economic capital requirement is an important risk metric because it summarizes the amount of capital required to remain solvent at a given confidence level. We implement this problem for a realistic loss distribution and analyze its scaling to a realistic problem size. In particular, we provide estimates of the total number of required qubits, the expected circuit depth, and how this translates into an expected runtime under reasonable assumptions on future fault-tolerant quantum hardware.