Embracing the Quantum Economy 2024

Use case impact analysis for financial services FIGURE 11 Quantum sensing Quantum communications and security Quantum computingLow Medium High Very high FeasibilityBusiness value Research PoC/PoV3Scaled Pilot4 213 9 1067 53 121 81142 139 106 753 121 8 11Currency trading (being used by companies such as Toshiba and Dharma Capital) Financial crash estimation in enterprises (Yapi Kredi Bank, D-Wave) Reinsurance optimization (AXA) Credit card payment fraud detection (Rigetti, HSBC, University of Edinburgh, National Quantum Computing Centre) Detecting magnetic anomalies in transactions Infrastructure integrity monitoring (gravimeters) Accurate time stamps for financial transactions (quantum clocks) More resilient keys for secure encryption and authentication (QRNG,¹ used by HSBC, Quantinuum) Detection of tampering of ATM machines (quantum acoustic sensors) Distributed quantum sensor detection systems Physical encryption network (PQC/QKD,² used by HSBC, BT, Toshiba; JP MorganChase, Ciena, Toshiba) Synthetic data generation for traditional ML Settlement optimization of securities transactions (Bank of Italy, Intesa Sanpaolo, IBM, universities of Exeter and Verona) In the rapidly evolving landscape of financial services, prioritizing security while managing regulatory requirements is of paramount importance. Examples in optimization, ML and simulations offer a great start to challenge the existing technologies and systems used in businesses today that leverage conventional computing and sensing systems. To support strategic decision-making, here’s a concise synthesis of the quantum technology use cases in financial services, focusing on actionable insights: 1. Prioritizing an upgrade to quantum for banking transactions by adopting approaches such as QRNG (use case 8), QKD and PQC (use case 11). These technologies can offer increased protections against future quantum computers in two ways: (1) protecting data that is stolen today from being decrypted later and (2) protecting future systems from being impersonated once a cryptographically relevant quantum computer (CRQC) is available to break encryption. Quantum communication and security is capable of scaling in the near term so strategic investments today will grow with time and safeguard financial infrastructure for years to come.3.2.1 Financial services Source: World Economic Forum in collaboration with Accenture Note: 1 Quantum random number generator, 2 Post-quantum cryptography/quantum key distribution, 3 Proof of concept/proof of value Embracing the Quantum Economy: A Pathway for Business Leaders 30