Quantum Computing Shows Promise and Worry for Banks

Quantum computing has the potential to dramatically affect banking in the coming years, especially from a cybersecurity standpoint; banks like JPMorgan Chase, Barclays and Morgan Stanley have all started sinking capital into applications in hopes of trying to stay ahead of the next wave of innovation; quantum computing allows for the breakdown of large sets of data significantly faster than classical computing; this puts banks at risk if an attack were to happen and also gives them power is they were to develop an application; as AI and blockchain begin reaching certain levels of acceptance, quantum computing looks to be the next stage of innovation in finance. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.