IonQ has significantly bolstered its quantum finance team with the appointment of Dr. Ramis Movassagh to its Special Projects group. The applied mathematician and theoretical physicist, a Massachusetts Institute of Technology Ph.D. graduate supervised by Peter Shor, brings deep expertise in quantum algorithms and cryptography from previous senior roles at Google Quantum AI and IBM Quantum. Movassagh will focus on applying quantum computing to the complex challenges of the financial sector – including optimization, modeling, and risk aggregation – as institutions move toward evaluating “quantum advantage.” According to Marco Pistoia, this strategic hire will support banks and financial firms preparing for “the next computational paradigm,” building on IonQ’s recent successes with its quantum computer boasting 99.99% two-qubit-gate fidelity.
Ramis Movassagh Joins IonQ to Lead Quantum Finance Applications
His doctoral work at the Massachusetts Institute of Technology was supervised by Peter Shor, inventor of the algorithm with the potential to break modern encryption. Movassagh’s appointment reflects a shift within the financial industry, moving “beyond exploratory discussions toward rigorous evaluation of quantum advantage,” according to IonQ. He will concentrate on applying quantum computing to challenges inherent in finance—high-dimensional optimization, stochastic modeling, and risk aggregation—areas where quantum algorithms are uniquely positioned to excel. IonQ highlights that finance-relevant workloads are “already being executed on real quantum hardware,” and the focus is now on achieving “scalable advantage” and translating it into economic value. The company’s quantum computer boasts “world-record 99.99% two-qubit-gate fidelity and 99.9999% single-qubit-gate fidelity,” driving impact in the sector.
99% Two-Qubit Gate Fidelity Achieved by IonQ Computer
IonQ is demonstrating tangible progress in overcoming a major hurdle in quantum computing: maintaining qubit coherence and minimizing error rates. This level of precision is particularly relevant as financial institutions move beyond theoretical exploration toward evaluating the potential for “quantum advantage” in real-world applications. These advancements are enabling the execution of “finance-relevant workloads…on real quantum hardware,” according to IonQ, suggesting the technology is maturing beyond laboratory experiments. The company’s Special Projects group, now bolstered by the addition of Dr. Ramis Movassagh, is focused on applying quantum algorithms to challenges inherent in the financial sector, including high-dimensional optimization and risk aggregation. Marco Pistoia emphasizes that the question is shifting from if quantum computing will impact finance, to how quickly scalable advantage can deliver “measurable economic value.” IonQ intends to support banks and other financial entities as they prepare for this “next computational paradigm.”
It is exciting to see the dramatic impact that IonQ’s quantum computer, with its world-record 99.99% two-qubit-gate fidelity and 99.9999% single-qubit-gate fidelity, is having in the financial industry.
Quantum Algorithms Address High-Dimensional Financial Challenges
IonQ is bolstering its capacity to tackle complex financial modeling with the addition of Dr. The company highlights that financial institutions are now shifting from exploratory discussions to “rigorous evaluation of quantum advantage,” focusing on areas like high-dimensional optimization, stochastic modeling, and risk aggregation—challenges well-suited to quantum algorithms.
