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HSBC is collaborating with IBM...As of now, the partnership has been agreed upon for three years and is basically designed to boost HSBC’s stronghold in quantum computing
HSBC, a popular name in the finance sector, has recently made an announcement that it will be collaborating with the big blue IBM. The main motto of the partnership is to develop a new application for quantum computing specializing in financial services. As of now, the partnership has been agreed upon for three years and is basically designed to boost HSBC’s stronghold in quantum computing. This will also ensure that HSBC is fully ready to advantage of the technology and deliver outstanding services. According to the particulars of the agreement, HSBC will now be joining a program under IBM.
This will provide HSBC access to big blue’s quantum computing systems under premium plans, and it will also include eagle, a 127-qubit processor, and IBM’s quantum expertise. HSBC is expected to make use of the quantum capabilities for portfolio optimization and pricing, mitigate risk, improve net-zero goals, and identify fraudulent activities. Through an intense training program, HSBC wants to upskill colleagues and actively hire quantum research scientists to build a dedicated team capable of promoting innovation. CEO of HSBC Bank, Colin Bell, has stated that the latest investment boosts innovation for the future and makes banking easy for consumers worldwide.