BPS Condensates, Matrix Models and Emergent String Theory
  A prescription is given for computing anomalous dimensions of single trace operators in SYM at strong coupling and large $N$ using a reduced model of matrix quantum mechanics. The method involves treating some parts of the operators as "BPS condensates" which, in certain limit, have a dual description as null geodesics on the $S^5$. In the gauge theory, the condensate is similar to a representative of the chiral ring and it is described by a background of commuting matrices. Excitations around these condensates correspond to excitations around this background and take the form of "string bits" which are dual to the "giant magnons" of Hofman and Maldacena. In fact, the matrix model approach gives a {\it quantum} description of these string configurations and explains why the infinite momentum limit suppresses the quantum effects. This method allows, not only to derive part of the classical sigma model Hamiltonian of the dual string (in the infinite momentum limit), but also its quantum canonical structure. Therefore, it provides an alternative method of testing the AdS/CFT correspondence without the need of integrability. 
Samuel E. Vazquez