Quantinuum Collaborates with HSBC to Research QC Use Cases in the Financial Industry

How many announced they will be working with a global bank HSBC to explore some of the different use cases for quantum computing that are important to the financial industry. HSBC is Europe’s largest bank with nearly $3 trillion in assets. The first use case is using Quantinuum’s Quantum Origin a product to strengthen cybersecurity by using quantum technology to create highly strong, completely random cryptographic keys.

The second application will explore the use of Quantum Machine Learning (QML) for issues such as fraud detection. This will consist of using data analytics to look for patterns that might indicate fraudulent transactions have taken place. Because a large number of different parameters can be involved, quantum computer programs may potentially do a better job than classical computers. This research will utilize Quantinuum’s TKET software for optimizing qubit routing and circuit optimization.

And the third area the company will explore is the use of Quantum Natural Language Processing (QNLP) to train quantum states and processes that encode word meanings. This can be used for things like answering customer questions or finding text similarities. This research will use a product called Quantinuum LAMBEQ which enables the design and implementation of end-to-end QNLP pipelines. Quantinuum’s press release announcing their collaboration with HSBC can be accessed Here.

June 1, 2023