Connects decision-makers and solutions creators to what's next in quantum computing

Rigetti, Moody’s Partner on Quantum Financial Forecasting

Moody’s sees path to quantum advantage through collaboration with business

Berenice Baker, Editor, Enter Quantum

January 8, 2024

1 Min Read
A digital financial chart
Riggeti and Moody's aim to predict recessions more accurately using quantum computing. Getty Images

Quantum computing hardware vendor Rigetti Computing is collaborating with financial intelligence and analytics company Moody’s Analytics to develop quantum machine learning methods for the financial sector.

Rigetti developed a new approach to forecasting recessions using machine learning techniques with quantum simulation in collaboration with Moody’s and Imperial College London. The team published results demonstrating the method could forecast recessions more accurately than industry standard baseline models.

The partners now plan to use more complex and varied data sources from a wider macroeconomic environment, using hardware with more qubits that can cope with the added complexity, Rigetti’s 84-qubit Ankaa system, along with error mitigation methods.

“Moody’s is investing in quantum computing to better understand how it can provide an advantage over classical solutions,” said Moody’s managing director of AI and quantum computing analytics Sergio Gago. “By partnering with the algorithm and application teams at Rigetti, and leveraging their QPUs, we get access to the expertise needed to make meaningful progress in our quantum computing strategy.”

“The potential for quantum computing to have a transformative impact on the financial sector has led to increasingly more financial institutions building in-house teams dedicated to exploring quantum computing,” added vice-president of finance solutions Marco Paini.

“Achieving quantum advantage will require collaborating with end users who truly understand how to apply quantum computing to their business. This is why our work with Moody’s is so valuable – partnering with Moody’s quantum experts allows us to work on valuable problems and in turn feed improvements back into our hardware and software stack to enhance our capabilities.”

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.

Sign Up for the Newsletter
The most up-to-date news and insights into the latest emerging technologies ... delivered right to your inbox!

You May Also Like