JPMorgan Chase & Co. sees potential in using quantum computing as a way to significantly speed up financial calculations, but it is still years away from deploying the technology. JPMorgan has seen some minor successes, including one that proves, in theory, that quantum computing can radically speed up certain financial models. “You need a lot of knowledge, a lot of understanding before you really get to any real applications,” Mr. Shen said. While traditional computers store information as either 0s or 1s, quantum computers use quantum bits, or qubits, which represent and store information as both 0s and 1s simultaneously. The team’s experiments have proved that, in theory, a scalable, commercial-grade quantum computer could run similar calculations using quantum computing-based algorithms in seconds.

Source: Wall Street Journal June 11, 2019 17:48 UTC