(Fujitsu) Fujitsu announced its collaboration with BBVA in late July. Carlos Cordero, Chief Technology Officer at Fujitsu in Spain comments: “All industries have multiple areas that would benefit from optimization however generally the sheer complexity of the problems means that guesswork or trial and error are the most common methods. While true quantum computing as a technology is still in the laboratory testing phase, Digital Annealer represents a bridge to this future technology, thanks to its ability to evaluate multiple different combinations extremely rapidly. Bringing this optimization to the financial industry, for example to identify the optimal portfolio and the ideal time to acquire or offload assets can make a huge difference to the returns it delivers.”
BVA is Spain’s second largest bank, on a proof of concept (PoC) of its quantum-inspired optimization solution Digital Annealer1. The bank wants to determine whether the Digital Annealer could outperform traditional computing techniques in optimizing asset portfolios, helping minimize risk while maximizing returns, based on a decade’s worth of historical data.
Carlos Kuchkovky, BBVA Global Head of Research and Patents, explained: “The quantum technologies ecosystem is evolving very quickly and we believe that the collaboration with various partners, public and private alike, is key in order to translate the benefits of the technology into tangible progress, for the banking sector and for society at large. Although this technology is still in an early stage of development, its potential to impact the sector is already a reality. Our research is helping us identify the areas where quantum computing could represent a greater competitive advantage, once the tools have sufficiently matured.”