{"id":39185,"date":"2017-12-16T15:03:24","date_gmt":"2017-12-16T15:03:24","guid":{"rendered":"http:\/\/www.bnreport.com\/what-will-quantum-computing-do-for-banking-jp-morgans-about-to-find-out\/"},"modified":"2017-12-16T15:03:24","modified_gmt":"2017-12-16T15:03:24","slug":"what-will-quantum-computing-do-for-banking-jp-morgans-about-to-find-out","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/what-will-quantum-computing-do-for-banking-jp-morgans-about-to-find-out\/","title":{"rendered":"What will quantum computing do for banking? JP Morgan’s about to find out"},"content":{"rendered":"

JP Morgan will begin exploring the potential of quantum computing and how it might be applied to trading strategies, portfolio optimisation, asset pricing, and risk analysis in a new partnership with tech giant IBM.<\/p>\n

The investment bank is one of two financial institutions, along with Barclays<\/a>, taking advantage of the commercialisation of quantum technology, which has more computing power than any other device on earth.<\/p>\n

Read more<\/strong>: Quantum computing has just gone commercial to solve mind-boggling problems<\/a><\/p>\n

German carmaker Daimler, electronics giant Samsung<\/a> and Honda are also among the 12 top businesses and researchers to be the first to work with IBM on exploring the technology.<\/p>\n

IBM believes one of the potential applications of quantum technology could be to wrangle the huge amounts of financial data available to better assess risk. <\/p>\n

The firms will have access to IBM's 20 qubit Q system and eventually 50 qubit. It first announced a five qubit system for business use earlier this year.<\/a> Qubit is the unit of measurement in quantum computing in the same way as bits in classical computing.<\/p>\n

\u201cJoining the IBM Q Network allows us to bring our technologists alongside IBM\u2019s researchers and leverage cutting-edge quantum systems to learn about how we may be able to apply these technologies in the future," said JPMorgan<\/a> chief information officer Lori Beer. <\/p>\n

IBM is also establishing quantum research hubs around the world, including at Oxford University and IBM's research facility in the UK. <\/p>\n

Read more<\/strong>: Unilever, Walmart, Nestle and IBM are starting a major blockchain project<\/a><\/p>\n

"Working with one of the world's leading information technology companies to develop new applications for a quantum computer will enhance Oxford\u2019s and the UK\u2019s capability in quantum technology, by providing a unique resource for the Oxford-led Networked Quantum Information Technologies Hub,\u201d said professor Ian Walmsley.<\/p>\n

\u201cNQIT\u2019s emulator programme will work with IBM to convene scientists, engineers and industrial researchers and developers across a wider range of fields, from simulating new molecules to enhancing artificial intelligence to show how quantum computers can dramatically transform their ideas and businesses.\u201d<\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf] [contfnew] <\/p>\n

CityAM<\/a><\/h5>\n

[contfnewc] [contfnewc] <\/p>\n

The post What will quantum computing do for banking? JP Morgan's about to find out<\/a> appeared first on News Wire Now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

JP Morgan will begin exploring the potential of quantum comp..<\/p>\n","protected":false},"author":1,"featured_media":39186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"class_list":["post-39185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"yoast_head":"\nWhat will quantum computing do for banking? 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