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JoS Quantum will provide software algorithms for quantum computers to speed up and improve risk management and fraud detection within the financial industry.

Recent developments in science have enhanced quantum information from a physicists’ theory to a source of benefit for mankind, particularly business enterprises. This new technology has the potential to add value to businesses by solving various difficult problems in entirely new ways. Quantum computing exploits quantum mechanical phenomena to greatly enhance the way information is processed. It allows more efficient performance than ever possible in classical computing by significantly reducing the complexity of algorithms.

JoS Quantum will deploy this quantum computing speed boost by focussing on optimization problems within the financial sector. Optimization problems are prevalent in almost every sector in which businesses operate, yet they are typically difficult and time-consuming to solve. In the current situation, the financial business conducts their risk analyses using classical computers with long and often unpredictable processing times, which impacts banks and insurance companies in properly operating their business. By concentrating on risk calculations in which a huge amount of data needs to be processed within a short time, the quantum computer can show its full potential. JoS Quantum will provide implementations of optimization algorithms readable by quantum computers and will provide the necessary infrastructure to access quantum computers remotely.