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Big Banks Collaborate With IBM On Quantum Computing: Is Financial Services Industry Ready For Huge Opportunities?

Benzinga ·  11/16/2023 22:28

The financial services industry is unprepared for the next revolution in fintech which promises both huge benefits and substantial risk.Developments in quantum computing are happening at a fast pace and early adopters are few, according to research by Moody's Analytics. In a survey of 200 innovation leaders at financial institutions in Europe and North America, Moody's found that 87% lack the budget for quantum research, while 73% were yet to define any commercial advantage.IBM (NYSE:IBM), which last year unveiled its powerful 430qubit Osprey quantum processor, has worked with several large banks over the past five years including Barclays (OTCPK

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