Moody’s Launches Quantum Group

Moody's has already created powerful proprietary models for these use cases using classical computers, but quantum computing promises to improve model accuracy in far less computing time.

Consequently, the quantum analytics team plans to embed many of Moody's current products with a proof-of-concept quantum application. Once the team finalizes product development, it will seek to roll out these applications throughout the company.   

According to Moody's, its quantum endeavor will ultimately provide its key clients with advantageous solutions and facilitate strategic partnerships with hardware and algorithm providers.

While practical quantum computers remain a few

Moody's Analytics quantum computing team managing director Sergio Gago Huerta said: “Moody's has some of the best quantitative analysts, the best models, and the best data sets. By researching quantum possibilities, we increase our options to solve those problems exponentially faster and create a unique and compelling competitive position.”

In addition to finding potential opportunities, Moody's is also keenly aware that quantum computing may disrupt the financial services industry and Moody's products.  

As a result, Moody’s says it is hiring quantum application specialists to help position it as “a referent in the quantum computing sector for finance”.