The Banking Executive Magazine - February 2023 Issue

Quantum Computing P ENERATION OF QUANTUM COMPUTING IN VARIOUS INDUSTRIES Most applications of quantum com- puting fit into four categories: quan- tum simulation, quantum linear algebra for Artificial Intelligence AI and machine learning, quantum op- timization and search, and quantum factorization. Quantum computing penetrated various industries so far including: • Financial industry: The most prom- ising application of quantum com- puting in finance are in portfolio and risk management. For exam- ple, efficiently quantum-optimized loan portfolios that focus on collat- eral could allow lenders to im- prove their offerings, possibly lowering interest rates and freeing up capital. • Pharmaceutical industry: Quan- tum computing has the potential to revolutionize the research and de- velopment of molecular structures in the biopharmaceuticals industry as well as provide value in produc- tion and further down the value chain. Quantum computing could make Research and Development (R&D) dramatically faster and more targeted and precise by mak- ing target identification, drug de- sign, and toxicity testing less dependent on trial and error and therefore more efficient. • Automotive industry: The automo- tive industry can benefit from quantum computing in its Re- search and Development (R&D), product design, supply-chain man- agement, production, and mobility and traffic management. • Global energy and materials in- dustry: Quantum computing can better help in the transition to clean and sustainable energy. • Advanced industries: Quantum computing can better support re- search and development in ad- vanced industries such as aerospace and defence, advanced electronics, and semiconductors. • Telecom, media, and technology industries: Quantum computing can help telecom, media, and technology industries in better har- nessing the power of data. ISSUE 170 FEBRUARY 2023 the BANKING EXECUTIVE 13