JPMorgan Hires Quantum Computing Expert To Safeguard Financial System

JPMorgan, a popular investment firm, has decided to hire a quantum-computing expert from Singapore, Charles Lim. According to CNBC, Lim’s job will be to head the company’s quantum communications division. 

Meanwhile, Lim is an Associate Prof at Singapore’s National University. He will focus on exploring the next-level computing tech in secure communications. 

Financial And Tech Firms Working On Quantum Computing Advancement 


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According to Marco Pistoia, the head of applied global technology at JPMorgan, Lim is popular and famous in the sphere of quantum-powered communications. Pistoia has formed a team that works on quantum computing and the latest technologies. 

Furthermore, quantum computing is different from the computers of today. Today’s computers store information as ones or zeros, which is binary.

However, quantum computing uses quantum physics. Hence, qubits can combine zeros, ones, and other values instead of a binary system. 

According to scientists, quantum computing has the potential to solve today’s problems much faster and more efficiently. Besides, tech firms like IBM and Alphabet are working to build quantum computers. 

Even financial companies such as Visa and JPMorgan are exploring the potential of quantum computers. In a JPMorgan webcast interview, Pistoia stated that new boundaries will become available.”

He said machine learning techniques in finance would advance to assist with detecting fraud in transactions. It would also cater to tasks requiring “prohibitive complexity,” such as portfolio optimization and options pricing.

Additionally, this will significantly improve computers and will also revolutionize other fields. This includes drug research materials science for batteries.

Quantum Computing To Increase Security Of Financial System

However, the encryption methods that support the world’s financial and communications networks may become obsolete. This will happen when advanced computer technology actually materializes.

As a result, this has inspired the need for an expert in quantum-resistant communication to develop the next generation of computers. The company is preparing for what Pistoia calls the age of quantum supremacy. 

Quantum supremacy is the day when quantum computers can execute computations that are beyond the capabilities of conventional computers. Then, companies would need new types of cryptography and message are required.


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In addition, he said the quantum advantage comes before that advancement and may occur soon. At that moment, the new computers are competitive with those of today while being more potent and accurate.

Pistoia concluded by saying that:

“Lim will pursue both basic and practical research in quantum information. He will concentrate on novel digital solutions that will increase the effectiveness, robustness, and security of banking and financial systems.”


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