JPMorgan Chase & Co. Collaborating with IBM for Future Quantum Computing Dividends
(WSJ) JPMorgan Chase & Co. has been collaborating with researchers at International Business Machines Corp. to experiment with quantum computing since late 2017. JPMorgan has seen some minor successes, including one that proves, in theory, that quantum computing can radically speed up certain financial models. While JPMorgan Chase & Co. sees potential in using quantum computing as a way to significantly speed up financial calculations, but it is still years away from deploying the technology.
Timelines regarding when companies will start to see measurable business value from quantum computing vary from about three years to a decade, but that’s not stopping companies such as JPMorgan from early experiments. Lori Beer, JPMorgan’s global chief information officer, said in 2017 that the bank began experimenting with quantum computing to understand how it would affect the company and its customers. “We’re optimistic that this is a core capability we need to think about for the long term.”
IBM is collaborating with more than 60 companies, national laboratories and academic institutions to experiment with its early-stage quantum-computing technology via the cloud. Big companies are experimenting with the technology now because they understand the deep correlation between computation and business value, said Dario Gil, IBM’s director of research.