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...