Standard Chartered gets into Quantum Computing

A trend we are seeing is that increasingly more and more financial organizations are looking at exploring quantum computing. Companies such as Goldman Sachs and JP Morgan already have teams exploring quantum algorithms. Standard Charted is the latest to join the quest for financial use cases with quantum algorithms.

One of the first use cases for quantum computing is likely to be in the financial space, along side sectors such as drug discovery and pharmaceuticals. Certainly banking and financial institutions have the funds to be able to deploy resources into exploring deep technology to provide a competitive and financial edge.

Standard Chartered is collaborating with US-based Universities Space Research Association (USRA) to develop quantum computing applications for use in a number of key areas such as risk and portfolio optimization. The aim to produce real use cases with quantum advantage.

Similar to other major technological advancements, quantum computing is set to bring widespread benefits as well as disrupt many existing business processes. This is why it’s important for companies to future-proof themselves by adopting this new technology from an early stage. The partnership with USRA gives us access to world-class academic researchers and provides us with a unique opportunity to explore a wide range of models and algorithms with the potential to establish quantum advantage for the real-world use cases.”

Kahina Van Dyke, Global Head of Digital Channels

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