"Needs Assessment"
- Identify needs that justify an electrical and computer engineering problem-solving effort
- The idea of quantum computing has been around since the 1980s when Paul Benioff put forward the idea of a Quantum Mechanical Turing Machine
- Since then, there have been many technical advancements in using quantum computers in various applications
- Objective:
- Further the application of quantum computers in finance and financial modeling
- Background:
- Microsoft and IBM both have available, online quantum computing resources using IBM's QISKIT and Microsofts Q#
- Stevens' Center for Quantum Science and Engineering has researchers working with furthering the applications of quantum computers
- Methodology:
- With the help of the researchers in the Center for Quantum Science and Engineering and the Hanlon Financial Laboratory, quantitative analysis algorithms will be adapted for quantum computing resources
- Expected Results:
- Existing algorithms will be adapted for use with quantum computing resources
- or a Novel method of financial analysis will be created using quantum computing resources
- Costs
- The costs for this project are rather minimal as many online quantum computing resources are free or charge low amounts for non-commercial applications