Quantum Computing Quantum News

CaixaBank uses hybrid of conventional and quantum computers to classify risk

April 20, 2020

CaixaBank uses hybrid of conventional and quantum computers to classify risk

Artificial intelligence (AI): Making facets of AI, such as machine learning, much more powerful when datasets can be too big, such as searching images or video. In the future, quantum computers will be able to crack encryption methods, and today’s security systems for internet and mobile banking will no longer be sufficient. CaixaBank has used quantum computing technology to develop a machine learning algorithm to calculate customer credit risk as part of its analysis of the technology’s application in banking. It is working with Delft University of Technology and the Netherlands Organisation for Applied Scientific Research, to prove that quantum key distribution can be used to secure data traffic. It uses quantum mechanics to process huge amounts of data through its ability to be in multiple states, and perform computations in powerful new ways not possible with today. The results of this test demonstrated that “hybrid computing can achieve results comparable to those offered by the conventional solution in less time”, said Caixabank. Supply chain and logistics: Finding the optimal path across global systems for ultra-efficient logistics and supply chains, such as optimising fleet operations for deliveries during the holiday season.

Article from ComputerWeekly.com.