Quantifying Quantum computing's value in financial services - Fintech News

The next great leap for computing may be a bit closer with the help of joint efforts between the U.S. government, the private sector -- and hundreds of millions of dollars. And along the way, we might see a benefit for the financial services sector in the form of reduced false positives in fraud detection. The U.S. Department of Energy said this week that it will spend $625 million over the next five years to develop a dozen research centers devoted to artificial intelligence (AI) and quantum computing. Another $340 million will come from the private sector and academia, bringing Uncle Sam together with the likes of IBM, Amazon and Google to apply the highest of high tech to a variety of verticals and applications. In an interview with Karen Webster, Dr. Stefan Wörner, global leader for quantum finance and optimization at IBM, said we're getting closer to crossing the quantum-computing Rubicon from concept to real-world applications. The basic premise behind quantum computing is that it can tackle tasks with blinding speed and pinpoint accuracy that aren't possible with "regular" computers.