BBVA is stepping up its interests in quantum computing, presenting the results of six proof of concept trials across financial business use cases.
BBVA Research and Patent’s team have shared the results of a project that ran over the course of last year, with the objective of identifying those use cases where quantum technology delivers a steep advantage over traditional computing techniques.
Working with with Spain’s Senior Council for Scientific Research (CSIC), Accenture, Fujitsu, Zapata Computing, and Multiverse, the project has focused on the development of quantum algorithms, static and dynamic portfolio optimisation, credit scoring, currency arbitrage and derivatives valuations.
BBVA began its quantum journey almost two years ago and now has a team specialised in quantum development, business units involved in the initiative, strategic alliances agreed, and various lines of research in place.
The project is still in an exploratory phase, but the results so far point to a set of advantages this technology has compared to tools currently used to resolve certain complex problems, says Carlos Kuchkovky, BBVA global head of research and patents.
“Although this technology is still in an early stage of development, its potential to impact the sector is already a reality," he says. "Our research is helping us identify the areas where quantum computing could represent a greater competitive advantage, once the tools have sufficiently matured. We believe this will be, for certain concrete tasks, in the next two to five years."