Imagine that Wall Street traders could calculate all possible outcomes of financial contracts in the blink of an eye. Or an insurer could crunch all data on all his clients and his clients’ clients immediately. Pricing of financial contracts such as stocks, derivatives or insurance policies could come closer than ever to reflect the true value of an asset. With near endless computing power, it could be possible to get knowledge of one’s true exposure to systemic risk. This is soon to be reality as commercial quantum computers are flirting with the mainstream.
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 cyber security threats, the market is expected to see a 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 top $5bn by 2020 (MarketWatch, 2017). Of course, such power in the hands of ill-intended is a very real threat. As such many startups, such as D-wave systems, working with quantum computers are already designing the cryptography measures of tomorrow.
On Tuesday August 29 2017 Copenhagen FinTech hosts Get F’iT: Quantum computers in financial services’. Join us and listen to industry experts and scientists explaining the potential of Quantum computers. Ulrich Busk from DTU Quantum gives a primer on quantum computing and its societal benefits, while Thomas Brochmann Pedersen from Crypthomathic will present cryptography measures powered by quantum computers. Finally, KPMG will present short -and long-term trends of quantum computers in financial services
Links and further reading:
High Frequency Trading Trashed by Quantum Computers?: https://www.linkedin.com/pulse/high-frequency-trading-trashed-quantum-computers-ted-prince
Featured Futurist: Future of Insurance, Risk Management Solutions magazine: http://www.globalfuturist.org/2017/07/featured-futurist-future-of-insurance-risk-management-solutions-magazine/
Five reasons quantum computing is the future for traders:http://news.efinancialcareers.com/dk-en/262194/five-reasons-quantum-computing-is-the-future-for-traders/