Some of the biggest banks have started to invest greater resources in quantum computing as they hope the technology is entering into a rapid advance phase; the potential of the new technology could be enormous for financial firms as it could help identify anomalies faster and save the banks time and money especially in risk management and trading; though many of the banks testing are aware that quantum computing is not around the corner but potentially 5 – 10 years away, potentially more as there is a lot of unknown; Ning Shen, Managing Director of Quantum Research at JPMorgan Chase, tells the FT about the potential of using quantum computing, “If you can recalibrate your models fast, you can give better execution to clients. The same technology could also make it possible to optimise the investment portfolios of wealthy clients on a case-by-case basis.” Financial Times
