BBVA collaborates with Fujitsu on quantum tech proof of concept
BBVA has revealed a collaboration with technology firm Fujitsu on a proof of concept (PoC) based around quantum computing.
The PoC revolves around Fujitsu’s optimisation solution Digital Annealer. BBVA seeks to determine whether the Digital Annealer could outperform traditional computing techniques in optimising asset portfolios.
BBVA says it is conducting multiple studies on quantum computing. The bank aims to test whether new technologies could represent an advantage over traditional tools.
It has instigated a programme of signing partnership deals to this end. BBVA’s Research and Patents team wanted to explore how Digital Annealer could be deployed to optimise an investment portfolio.
“All industries have multiple areas that would benefit from optimisation,” says Carlos Cordero, chief technology officer at Fujitsu.
“While true quantum computing as a technology is still in the laboratory testing phase, Digital Annealer represents a bridge to this future technology, thanks to its ability to evaluate multiple different combinations extremely rapidly.”
Fujitsu says Digital Annealer is already solving “multiple” different problems for many industries.
Carlos Kuchkovky, BBVA’s global head of research and patents, says the quantum technology sector is advancing rapidly.
“We believe that the collaboration with various partners, public and private alike, is key in order to translate the benefits of the technology into tangible progress.
“Although this technology is still in an early stage of development, its potential to impact the sector is already a reality.”
Kuchkovky says BBVA believes quantum technology “will be key” to solving “some of the major challenges facing society this decade.”