Exploring Quantum Computing Use Cases for Finance and Healthcare
Recent years have witnessed rapid increases in financial and healthcare data, due in part to advancements in financial data analytics tools, medical imaging, and the increasing availability of real-time data to infer most-probable narratives (see example use cases here and here). Professionals in these areas are making more decisions and must navigate increasingly complex systems. Significant investments are being made to deliver the right data and powerful insights. However, accounting for the exponential possibilities arising from this new data is stretching the capabilities of classical computing systems.
Enter quantum computing. It has been proven that quantum computing can have an advantage over classical approaches. Quantum computing does not merely provide an incremental speedup. It is the only known technology that can be exponentially faster than classical computers for certain tasks, potentially reducing calculation times from years to seconds. Quantum computing harnesses a different way of thinking, and necessities new and highly sought-after skills, distinct IT architectures, and novel strategies.
The potential applications of AI-quantum hybrid methods in solving highly-complex optimisation problems are drawing attention. In finance and healthcare, the use of quantum computing in parallel with classical computers is likely to bestow substantial advantages that classical computing alone cannot deliver. This is mainly due to the existence of complex multi-criteria decision-making scenarios in these two fields. Some potential quantum use cases include: banking security; financial optimisation, and; public health decision making scenarios, such as those required for large-scale pandemics.
The project funding is awarded by Nottingham Trent University's Strategic Research Fund.
Aims
To develop quantum computing use cases for finance and healthcare. We expect to exploit our research in ambient intelligence and quantum computing, and engage with industry leaders in finance and healthcare.
To translate quantum computing research at NTU from theory to practice. We will showcase the potential of quantum computing in solving real-world problems through pilot AI-quantum hybrid methods.
We will use some public cloud services to implement our quantum computing algorithms, including Microsoft Azure Quantum Services, IBM-Q and DWave.
Project Team
Senior Lecturer in Computer Science, NTU
Senior Lecturer in Mathematics, NTU
Research Fellow on Quantum Computing, NTU
In Collaboration with:
This website is being updated while the project is being developed.