Quantum Computing Proofs of Concept Results May Improve Currency Arbitrage & Portfolio Management
Financial Giant BBVA Shares Results of Quantum Computing Tech Proof of Concepts for Improving Currency Aribtrage, Porfolio Management
Selected notes ~
+ BBVA (Banco Bilbao Vizcaya Argentaria, S.A.), a Spanish multinational financial services company based in Madrid and Bilbao, Spain with nearly €700 billion in assets, has introduced the results of six proof of concept (PoC) trials that leverage quantum computing for several different potential business use cases.
According to Carlos Kuchkovky, the global head of research and patents at BBVA: “Although this technology is still in an early stage of development, its potential to impact the sector is already a reality. Our research is helping us identify the areas where quantum computing could represent a greater competitive advantage, once the tools have sufficiently matured. We believe this will be, for certain concrete tasks, in the next two to five years.”
+ BBVA started its quantum computing projects around two years ago. The financial services giant has managed to bring together a team of professionals who are focused on quantum development. The BBVA has established relevant business units that also focus on quantum computing, along with strategic alliances, and has planned various other research projects.
+ The initiative is currently in its initial or exploratory stage, however, the results reported so far seem to suggest that there’s an advantage in using quantum technology, because it can solve complex problems in the traditional financial sector.
Content may have been edited for style and clarity. The “+” to the left of paragraphs or other statements indicates quoted material from “Source:” document. Boldface title is original title from “Source:” Italicized statements are directly quoted from “Source:” document. Image sources are indicated as applicable.
