Towards the end of 2018, it was predicted by Phillip Gerbert and Frank Ruess (in their article “The Next Decade in Quantum Computing – and How to Play“) that the quantum future would hold enormous possibilities for this new technology in the years to come. Disruptive developments were expected, specifically in logistics, manufacturing, finance, and energy fields, which are historically difficult to foresee. Key players were being incorporated, including “Tech companies“, “End-to-End Providers“, “Hardware and Systems Players“, “Software and Service Players“, and “Specialists“, with applications highlighted in:
- High-tech
- Industrial goods
- Chemistry and Pharma
- Finance
- Energy
It is precisely in the field of finance where the economic aspect of the quantum universe is linked. Indeed, the so-called quantum economy, an emerging field intersecting quantum mechanics and economics, is intended to experience significant development in the coming years. Specifically, in finance, the most well-known use cases include:
- Trading strategies
- Portfolio optimization
- Asset pricing
- Risk analysis
- Fraud detection
- Financial simulation
Entities of the stature of J.P. Morgan, Commonwealth Bank, Barclays, and Goldman Sachs are already involved. Startups such as D-Wave Systems, Rigetti Computing, Silicon Quantum Computing, Cambridge Quantum Computing, 1QBit, and IonQ were already immersed in developments that could favour the necessary advancement in the ability of quantum systems to process and analyze large volumes of data at speeds and efficiencies unattainable by classical systems.
The advancement, already written in “Quantum Economy. The Era of Consciousness“, requires broader adoption in the economic-financial sector, with increasing collaboration between researchers in economics, quantum physics, and computer science, leading to innovations that are currently difficult to predict. Laboratories like QETEL are determined to work and will work on the unique challenges of developing specific algorithms for complex economic problems and applying robust and scalable quantum computing to create practical applications.
