JPMorgan and IBM tap quantum computing tech

Written by Chris Lemmon

JPMorgan Chase and Barclays are collaborating with IBM to accelerate the practical applications of quantum computing technology in the financial services industry.

The two financial institutions have joined a number of other clients, including Daimler AG, Samsung and Oxford University, in gaining early access to IBM’s Q commercial quantum computing systems to explore potential implementations of the technology.

JPMorgan Chase will be the global financial services partner to IBM, and will focus on use cases for quantum computing including trading strategies, portfolio optimisation, asset pricing and risk analysis.

The Q network will provide organisations with quantum expertise and resources, and cloud-based access to what IBM describes as the most advanced systems available.

Lori Beer, chief investment officer at JPMorgan Chase, commented: “As a leader in financial services technology, JPMorgan Chase is excited to collaborate with IBM Research in exploring how quantum computing may impact the industry. Joining the IBM Q Network allows us to bring our technologists alongside IBM’s researchers and leverage cutting-edge quantum systems to learn about how we may be able to apply these technologies in the future.”