BANKING
“Quantum supercomputing will lead to a range of banking capabilities , such as analysing large areas of unstructured data to make financial predictions or simulate investment portfolios ”
SUHAIL BIN TARRAF GROUP CHIEF OPERATIONS OFFICER , FIRST ABU DHABI BANK
US $ 1.77bn by 2026 , up significantly from US $ 472m in 2021 , recording a compound annual growth rate in excess of 30 %. If adopted correctly , financial services could be one of the biggest proponents of quantum computing , benefitting from this value creation in the process .
Speed a considerable advantage of quantum banking One of the most considerable advantages that quantum banking provides over alternative methods of banking and moving money is the increased speed . Quantum computing can process data 10 million times faster even than supercomputers , highlighting the astounding capacity that this emerging technology possesses .
The authors of an IBM report into quantum banking explain the technical advantages that lurk beneath the hood : “ The solution space of a quantum computer is orders of magnitude larger than traditional computers – even immensely powerful ones . That ’ s because doubling the power
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