Some of the world's biggest technology companies, including Amazon, Microsoft, and Google, have made significant advances in quantum computing.
The introduction of quantum computing could greatly benefit the financial sector, enabling faster transaction processing, predictive analytics for fraud prevention, and efficient clearing and settlement processes.
While commercial quantum computing is steadily advancing, it is still a few years or even decades away from being practical and cost-effective for the financial services industry.
However, the groundwork is being laid today, with companies like QuEra Computing receiving funding to accelerate the development of quantum computers, and Google launching a global competition to apply quantum computing to real-world challenges.