August 3, 2021 – Quantum technology is poised to impact the way financial institutions do business, and insurers should start integrating quantum readiness into their three-to-five-year IT strategy roadmaps. Data protection, risk modeling, portfolio management, and select processes enhanced by artificial intelligence and machine learning solutions may look very different in a quantum world.
This report offers an overview of quantum theory, applications in financial services, recommendations for insurers incorporating quantum strategy into their five-year IT roadmaps, and 30 select quantum vendor profiles.
Key Points and Findings
- Financial services firms are actively investing in quantum research. Interest in quantum business application development is at an all-time high.
- Quantum computing poses significant security risks for financial institutions. Quantum machines may be capable of breaking some widely used public-key encryption methods.
Quantum technologies offer financial services firms promising growth opportunities. Early adopters of quantum may achieve key competitive advantages in risk modeling and AI/ML.
About the Author
Datos Insights
We are the advisor of choice to the banking, insurance, securities, and retail technology industries–both the financial institutions and the technology providers who serve them. The Datos Insights mission is to help our clients make better technology decisions so they can protect and grow their customers’ assets.