The CPCC Logo depicts the parametric process in a 2nd-order nonlinear crystal. It signifies both the classical as well as quantum properties -- wave-particle duality -- of this process. At the classical level, an input signal wave (green) of a frequency lower than a pump wave (blue) undergoes amplification in the presence of the pump wave while an idler wave at the difference frequency (red) is simultaneously generated. This parametric gain process is extremely fast with response time on the order of a femtosecond (one millionth of a billionth of a second). Research at CPCC has shown that this and a similar process in optical fibers can lead to devices which have applications in advanced ultrahigh-speed (hundreds of gigabits per second) optical communications and signal processing. At the fundamental quantum level, in the parametric scattering process an incident pump photon (blue) spontaneously splits into two daughter photons to create a quantum mechanically entangled pair of photons. Such down-converted signal (green) and idler (red) photon-pairs violate Bell's inequalities upon detection -- a signature of their nonlocal character -- and are referred to as EPR pairs. They are akin to the pair of particles Einstein, Podolsky, and Rosen (EPR) considered in their famous paradox, which led Einstein to declare "God does not play dice." Research at CPCC has shown that EPR photon-pairs can be efficiently created in the telecom band of widely deployed optical fibers and can be utilized for advanced applications such as quantum communication, cryptography, imaging, and computing.