Credit Agricole Looks into Quantum Computing
(30 June 2021 – Europe) The corporate and investment banking arm of Credit Agricole has teamed up with Pasqal and Multiverse to explore applications for quantum computing in finance.
French company Pasqal is developing a quantum computer based on neutral atoms arrays, a leading edge technology currently being trialled to build industrial quantum computers. Spanish company Multiverse Computing specialises in quantum algorithms which can be run both on quantum and classical computers.
The French bank says the project will seek to apply quantum computing to real world finance applications for capital markets and risk management, with the aim of outperforming current state-of-the-art algorithms.
Ali El Hamidi, Crédit Agricole CIB’s project sponsor, says: “Quantum computing is radically different from almost everything we know and use today, in terms of theory, hardware and algorithms. This project will assemble many different competencies around the table: bankers, physicists, mathematicians, computer scientists, IT architects, all cooperating to this remarkable journey. This is a huge challenge, and we are confident we will make it a success.”
Subscribe