/Rigetti, CBA test quantum computing’s financial potential (via Qpute.com)

Rigetti, CBA test quantum computing’s financial potential (via Qpute.com)

Researchers from Rigetti Computing and the Commonwealth Bank of Australia say they have taken an important step towards the use of quantum computing in the financial services sector.

Rigetti’s Mark Hodson, Brendan Ruck, Hugh (Hui Chuan) Ong, and David Garvin, and CBA senior data scientist Stefan Dulman (who recently departed the bank), this week published details of their experiments using a quantum computer to optimise a portfolio rebalancing strategy.

Although the researchers relied on a simulator of a ‘gate’ model quantum computer for their experiments, Rigetti said the research will help with understanding the potential application of quantum computing by financial services firms.

“Our groups have been working together to accelerate the commercial feasibility of applying quantum computing to practical use cases,” said Michael Brett, senior vice president of applications at Rigetti.

“Bringing together quantum technologists with financial services experts was necessary to develop this application. It would not have been possible without close collaboration between domain experts from each field.”

.(tagsToTranslate)quantum computing(t)Commonwealth Bank of Australia (CBA)(t)QxBranch(t)Rigetti

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