(IBTimes) The potential power of quantum computing in financial services is especially beneficial for three specific areas: targeting and forecasting, trade optimization and risk profiling.
From spotting new business opportunities to detecting fraud, the data modelling capabilities of quantum computers can help improve finding patterns, performing classifications and making better predictions. The technology could also help cut through the complexity of today’s trading environments. Using combinatorial optimisation, it could enable investment managers to improve portfolio diversification, rebalancing portfolio investments to more-precisely respond to market conditions and investor goals.
Researchers are already looking into the problems how quantum computers can help on small risk analysis or options pricing problems. This is now being extended to larger, more realistic applications to further investigate the potential and the required quantum resources.
There are infinite possibilities to investigate how quantum technology could help navigate the intricacies of today’s trading environments, and to accelerate this discovery, there needs to be a C-Suite knowledgeable enough to build a strategic quantum roadmap. Executive leadership should also appoint quantum champions to drive change and explain the technology to customers and investors.
There also needs to be a combination of qualified, creative, and result-oriented specialists able to program and use quantum computers, and employees with extensive industry knowledge aiming to gain quantum computing skills.