In this series, Enter Quantum asks industry experts for their insights into what quantum computing adopters should know about the technology.

As part of a recent interview, JPMorgan Chase head of global technology applied research Marco Pistoia offered his insights on the potential impact of quantum computing on the financial services industry.

“The financial services industry is expected to benefit from quantum advantage even in the short term, as financial institutions house extremely complex problems for which time is of the essence,” Pistoia said. 

“Furthermore, scientists conjecture that financial use cases might be more tolerant to the errors typical of near-term quantum computers than use cases in other industry sectors.

“For example, a small error propagating through the quantum computation of a portfolio-optimization problem may affect the precision of the final result. But that result might still be valuable and more accurate than what one would obtain on a classical computer, where the complexity of the problem requires researchers to resort to approximations and reduced data sampling.”