Quantum Computing Predicted to “Redefine Banking”
(Engineering&Technology) Elisabetta Zaccaria, chairman at Secure Chorus, an organization that promotes multi-stakeholder cooperation in information security, says that quantum computing will “redefine” banking. “Yet while quantum computers present an opportunity to solve many challenges, they also create problems for data security,” she says.
JPMorgan Chase’s senior engineer and quantum project lead Constantin Gonciulea is investigating a limited range of financial services areas where quantifiable operational benefit could be derived from a phased transition to quantum enablement.
Areas under investigation include the redefinition of trading strategies, optimisation of portfolio management, asset pricing and risk analysis.
Profitability is likely to derive from a quantum computing industry formed around similar lines to IT and computing markets – hardware, software and services. The hardware has already started to arrive. IBM consolidated its prediction at the start of 2019 with the launch of its Q System One, a standalone platform running at 20 qubits that claims to be the first integrated general-purpose quantum computing system designed for commercial use.