BBVA and the Spanish National Research Council (CSIC) have set up a joint team of researchers that will work together on the design and testing of quantum algorithms applied to financial use cases.
Escolástico Sánchez, head of R&D at BBVA New Digital Businesses says that integrating the fundamentals of quantum mechanics into computer science will bring about a sea change in the depth and breadth of computing power.
“Even though these technologies are still in an exploration phase, at BBVA we are already trying to understand how they can contribute to improving the way we help our clients make better decisions using data,” he says. “The applications of this technology can have a positive impact on both the financial sector and customers and society at large.”
He says prototype machines developed by Google and IBM could be used to implement and demonstrate the potential of the algorithms developed jointly by BBVA and CSIC to solve different use cases.
The research programme will also explore the development of ‘quantum inspired’ methods: new algorithms in traditional computing that take ideas from quantum computing to solve complex problems.