It’s Time For Financial Institutions To Place Their Quantum Bets

Good morning, as readers will know, Archer is a materials technology company with a focus on developing innovative deep tech in quantum computing. I’d like to take this opportunity to share a recent expert report by Boston Consulting Group (BCG) titled It’s Time for Financial Institutions to Place Their Quantum Bets.

A key focus of the report is how a growing number of financial institutions are positioning themselves for a quantum future. BCG indicates that quantum computing could be both a strategic game-changing opportunity and an existential threat to the financial services business sector.

At a glance

• The size of the prize is enormous – up to US$70 billion in additional operating income for banks and other financial-services companies as quantum computing tech matures over the next several decades.

• Quantum computing can deliver a step-change in the ability of financial institutions to solve four problems: optimisation, machine learning, simulation and pricing, (e.g. cash management in ATM networks).

• In the past 18 months, several companies – including BBVA, CaixaBank, and JPMorgan Chase – have announced or publicly discussed experiments involving quantum computing.

• Since quantum computing is a truly disruptive technology, and one that is not plug-and-play, financial institutions are building their quantum capabilities, acquiring skills, and exploring partnerships in the quantum ecosystem.

You can find the full BCG report here. You can also find an infographic on how digital champions across Asia, Europe and the US are investing in digital solutions like quantum computing.

Sincerely,

Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)

Click here to view the full commentary.