GET F'IT: Quantum computers in financial services.
What lies beyond AI and blockchain? The answer could very well be quantum computers. Unbeknownst to many, a commercial market for quantum computers are much closer than previously conceived. As large companies such as Google, Intel, and IBM are increasing their investment pool for quantum technology and startups already selling early technology to combat cybersecurity threats, the market is expected to see a commercial breakthrough within next 3-5 years (Singularityhub, 2017). Analysts forecast global quantum computing market to grow at a CAGR of 35.12% during the period 2017-2021 to $5bn by 2020 (MarketWatch, 2017). Still an infant commercial industry, this is the next big thing.
Quantum computers are expected to revolutionize all industries and especially the financial sector where data, speed and timing are vital. All departments of larger financial institutions will most likely be influenced and powered by quantum technology. As quantum computers can scour through data with unprecedented speed – fraud detection becomes easier, cyber security measures more resilient, and portfolio and wealth optimization becomes cheaper. Financial institutions must embrace the era of quantum computing, or be left in the dust.
On August 29 2017 Copenhagen FinTech and the Innovation Network for Finance IT hosts Get F’iT: Quantum computers in financial services’. We have invited industry specialists, researchers and companies working with quantum technology, to present their work and a discussion on how quantum technologies will affect financial sector.