(E.Financial) Author Sarah Butcher cautions, “You should probably be thinking of adding quantum computing to your repertoire if you want to maintain your long term employability in finance”. Both Goldman Sachs and JPMorgan have been investigating the application of quantum computers to their businesses, and many say it’s less a question of if than when quantum computing is more widely applied.
Over time, the researchers say banks will use quantum computers for everything from creating value at risk and liquidity coverage ratios to running simulations to enable more accurate calculations of net stable funding ratios and pricing financial instruments. In preparation for this future they suggest you familiarize yourself with the following six quantum algorithms:
1. The Variational Quantum Eigensolver
2. The Quantum Approximate Optimization
3. The Quantum Amplitude Estimator
4. Quantum Support Vector Machines
5. Harrow, Hassidim, and Lloyd
6. Quantum Semideﬁnite Programming
As the financial services industry is subject to the combined demands of, ” sophisticated risk analysis, dynamic client management, constant updates to market volatility, and faster transaction speeds,” IBM’s researchers predict quantum algorithms are primed for take-off. Now might be a good time to start familiarizing yourself with how they work.