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JPMorgan Chase: What You Should Know About Quantum Computing

The financial service industry is likely to see quantum advantage in the shorter term

Berenice Baker, Editor, Enter Quantum

April 6, 2023

1 Min Read
Marco Pistoia,the head of global technology applied research at JPMorgan Chase.
Marco Pistoia is the head of global technology applied research at JPMorgan Chase. JPMorgan Chase

In this series, Enter Quantum asks industry experts for their insights into what quantum computing adopters should know about the technology.

As part of a recent interview, JPMorgan Chase head of global technology applied research Marco Pistoia offered his insights on the potential impact of quantum computing on the financial services industry.

“The financial services industry is expected to benefit from quantum advantage even in the short term, as financial institutions house extremely complex problems for which time is of the essence,” Pistoia said. 

“Furthermore, scientists conjecture that financial use cases might be more tolerant to the errors typical of near-term quantum computers than use cases in other industry sectors.

“For example, a small error propagating through the quantum computation of a portfolio-optimization problem may affect the precision of the final result. But that result might still be valuable and more accurate than what one would obtain on a classical computer, where the complexity of the problem requires researchers to resort to approximations and reduced data sampling.”

About the Author(s)

Berenice Baker

Editor, Enter Quantum

Berenice is the editor of Enter Quantum, the companion website and exclusive content outlet for The Quantum Computing Summit. Enter Quantum informs quantum computing decision-makers and solutions creators with timely information, business applications and best practice to enable them to adopt the most effective quantum computing solution for their businesses. Berenice has a background in IT and 16 years’ experience as a technology journalist.

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