Spain’s CaixaBank is Testing Quantum Computing Algorithms to Assess Financial Risk
CaixaBank develops the first R&D projects aimed at applying quantum computing to financial activity in Spain
Selected notes ~
+ CaixaBank has conducted the first real tests using a quantum computer in order to study the applications of this technology within the scope of risk analysis. The projects have been developed using IBM’s Framework Opensource Qiskit, an infrastructure that includes a simulator and a 16-qubit quantum computer. This framework provides the scientific community with tools to develop and execute quantum algorithms.
The bank has set up a team of experts with IT technicians, mathematicians and risk analysts
+ The objective of this phase was to validate quantum computing’s capacity to improve processes. The financial sector currently performs tasks that require enormous computational resources and that are carried out faster by implementing quantum computing. This is exactly what CaixaBank has been trying to test with the developed projects.
+ By developing these projects, CaixaBank has become the first bank in Spain, and one of the first in the world, to incorporate quantum computing into their R&D activity.
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