A Quantum Update in Worldwide Banking

A Quantum Update in Worldwide Banking

This IDC Perspective provides insight into the current state of quantum computing technology; its promise of unprecedented speed, unimaginable power, and unbreakable security; and its relevance to the banking industry that will revolutionize the way we operate. In an increasingly digital and data-generating world, computing power must keep up with rising demands. Classical computing is reaching its limit.While today's quantum machines still have stability and error-correcting issues to resolve, the ecosystem of software and quantum simulators that have sprung up in anticipation of more mature technology represents a dynamic and forward-looking potential to transform many of the processes we count on in the banking industry."Quantum technology is maturing at an increasing pace, with widespread adoption in the banking industry soon to follow," said Jerry Silva, research vice president, IDC Financial Insights. "Banks should start now to better understand the quantum advantage within their organizations so they can be ahead of the game when a significant breakthrough arrives that can reach faster speeds more reliably and economically to a broader banking market."

Please Note: Extended description available upon request.