Moody’s QFStudio offers benefits such as easy integration for efficient scalability and benchmarking classical algorithms against quantum or quantum-inspired algorithms.
Moody’s Analytics is now offering a Quantum-as-a-Service platform in partnership with Multiverse Computing. Moody’s Software-as-a-Service (SaaS) platform, QFStudio, has benchmarking capabilities that enable it to perform comparative analyses of both classical and quantum algorithms, “specifically for high-impact use cases within the finance sector.”
QFStudio seeks to aid leaders in the finance sector by allowing their clients to compare the performance of classical algorithms with that of quantum algorithms to help them choose the right solution to their unique problems ranging from optimization problems to risk calculations.
“In collaboration with Multiverse Computing, we are bringing to the market the Quantum for Finance platform, enabling our users to access Quantum and Quantum Inspired technologies via a Software as a Service offering. Provides both a Web and API access to edge algorithmic solutions to solve your hardest problems and challenges like optimization problems, risk calculations and many more,” Moody’s Analytics writes on its website.
Quantum Computing in the Finance Sector
Quantum computing is a nascent industry projected to grow from a market capitalization (the total value of all a company’s shares of stock) in the United States of about $138 million in 2022 to $1.2 billion by 2030. According to a Fortune Business Insights analysis, increasing investment in quantum technologies and a rise in strategic collaborations within the industry are expected to drive market growth.
Technology heavyweights IBM, Microsoft, Google, D-Wave, and Rigetti are already offering quantum, cloud-based quantum and hybrid quantum computing solutions largely tailored to innovators exploring use cases. With a focus on the finance sector, firms such as Multiverse Computing are investigating the “quantum advantage” feature based on the premise that there are problems, such as accurate forecasting of market movements, that can easily be handled by a quantum system but not by binary computers.
According to Moody’s, with many use cases that require large amounts of live data and complex computational tasks, the finance sector is poised to be the first to profit from quantum technology.
“The methods used to tackle these problems take a lot of time, space, and resources via today’s classical computers. However, some of these can be adapted and will potentially be solved effectively with quantum or quantum-inspired techniques, providing a business advantage versus the classical approach […] We are excited to announce a quantum leap forward with our exploration of quantum computing, which promises extensive improvements for computationally expensive problems that could impact on some of the core problems our clients face,” the firm states, adding that such innovation is expected to help clients make decisions faster than before.
Moody’s QFStudio offers benefits such as easy integration for efficient scalability and benchmarking classical algorithms against quantum or quantum-inspired algorithms. Another benefit is direct and managed access to multiple quantum hardware providers and algorithms.
next
Source: https://www.coinspeaker.com/moodys-quantum-as-a-service-qfstudio/