Quantum Finance

Fintech boosted by Quantum Computing? Ally joins Microsoft Quantum Azure to explore use cases

April 24, 2021

Fintech is one of the hottest start-up sectors. Making sense of the vast array of financial possibilities, Ally the financial company providing banking to millions is exploring Quantum Computing with Microsoft’s Azure Quantum program. The aim is to explore quantum-inspired algorithms to solve optimisation problems. Microsoft’s Azure platform has been a successful service attracting many into the services, but the Quantum version aims to attract first and early adopters to the nascent but growing quantum computing field.

Azure Quantum from Microsoft can offer the benefits of cloud computing for running Quantum workflows.
Azure Quantum from Microsoft can offer the benefits of cloud computing for running Quantum workflows.

Ally aims to use Quantum Computing in some of their tasks such as financial risk. Some of these calculations can be intensive to compute using classical software algorithms and hardware and hence moving to Quantum could offer speed-up advantages. A new and emerging field of Quantum Machine Learning is also showing promise, where like classical ML (Machine Learning), computers can learn patterns and make predictions. One use-case is optimisation and many companies are exploring Quantum algorithms to help with problems as diverse as routing, stock portfolio optimisation and more.

Using optimisers designed to run on classical hardware in the Microsoft cloud, Ally will be able to explore potential quantum use cases without needing to invest in specialised hardware. Read more about it in VentureBeat.

Here is a video that explains how Ally is using Azure Quantum.

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