Chase and IBM Research Continue Partnership With or Without Quantum Computing
JPMorgan Chase preparing for a quantum world, just in case
Excerpts and salient points ~
+ JPMorgan Chase has been looking into how quantum computing would impact the financial services space, and even though a general-use machine is still many years off, the company’s quantum computing quantitative researcher Nikitas Stamatopoulos said it is important to be prepared.
For the last couple of years, JPMorgan Chase has been a part of the IBM Q Network, which is Big Blue’s initiative aimed at advancing quantum computing.
+ “The error mitigation we recently used in our option pricing actually came from chemistry, it was part of the chemistry paper — one challenge that we have … our world is classical, in finance we deal with financial data which is completely classical, prices and distributions and things of that sort and it’s always a challenge to represent and manipulate that data directly as a quantum state.
+ Calling it “mind-boggling”, Stamatopoulos said JPMorgan Chase’s quantum research might also force it to rethink its classical approach, given what the quantum world could teach it, with lessons able to be learned both ways.
Source: ZD Net. Asha Barbaschow, JPMorgan Chase preparing for a quantum world, just in case…
Content may have been edited for style and clarity.