Ally partners with Microsoft Azure to prepare quantum computing-ready workforce

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US fintech Ally Financial will collaborate with Microsoft on Azure Quantum solutions to develop quantum computing skills and explore how new algorithms and future quantum hardware could improve customer experience. With claims that the industry is reaching the limits of classical computing, quantum computing has become an attractive proposition. A quantum computer can perform calculations based on the probability of an object's state before it is measured - instead of just 1s or 0s and process more data compared to their traditional counterparts. Ally is collaborating with Microsoft as part of its Enterprise Acceleration Program (EAP) to resolve optimisation issues, as well as utilise available, rich data to support financial services professionals make better decisions, learn why a customer may contact a...

Ally Teams With Microsoft For Quantum Computing

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Share Tweet Share Share Share Email The FinTech Ally is partnering with Microsoft to advance quantum computing’s role in the financial services sector and explore how it can be used to solve intricate problems, according to an Ally blog post. The strategic collaboration between the two companies will leverage the latest research on quantum-inspired algorithms to better understand how the technology can be applied to benefit a wider range of commercial processes.  “Quantum-inspired optimizers run on classical hardware, allowing us to explore quantum use cases today, while quantum hardware continues to develop toward broad commercial use,” according to the post. Ally teamed with...

Ally explores fintech products using quantum computing with Microsoft

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Join Transform 2021 this July 12-16. Register for the AI event of the year. Microsoft today announced that fintech firm Ally will join the former’s Azure Quantum program to explore how quantum computing can create opportunities in the financial sector. The two companies say that they’ll apply research on quantum-inspired algorithms to understand ways they can be tapped to solve complex optimization challenges. Experts believe that quantum computing, which at a high level entails the use of quantum-mechanical phenomena like superposition and entanglement to perform computation, could one day accelerate AI workloads compared with classical computers. Scientific discoveries arising from the field could transform energy storage, chemical engineering, drug discovery, financial portfolio optimization, machine learning, and more, leading to new...