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Standard Chartered and Universities Space Research Association Partner on Quantum Computing
29 September, 2020
Content level: 200 — Event is for the “Quantum Inspired”
Speaker: Alexei Kondratyev, Managing Director, Global Head of Data Science & Analytics, CCIB, Standard Chartered Bank
Standard Chartered Bank and Universities Space Research Association (USRA) have signed a Collaborative Research Agreement to partner on quantum computing research and developing quantum computing applications.
In finance, the most promising use cases with real-world applications include quantum machine learning models (generating synthetic data and data anonymisation) and discriminative models (building strong classifiers and predictors) with multiple potential uses such as credit scoring and generating trading signals. As quantum computing technology matures, clients should benefit from higher quality services such as faster execution, better risk management and the development of new financial products.
Standard Chartered’s team, led by Dr. Alexei Kondratyev, Global Head of Data Science and Innovation, and USRA have collaborated in quantum computing research since 2017. An earlier success in investigating the quantum annealing approach to computational problems in portfolio optimisation use cases led to this strategic partnership, where USRA will continue to support fundamental academic research in quantum physics and artificial intelligence and Standard Chartered will focus on future commercial applications.
In 2012, USRA partnered with NASA to found the Quantum Artificial Intelligence Laboratory (QuAIL): the space agency’s hub to evaluate the near-term impact of quantum technologies. With QuAIL, the USRA team has investigated the physics, the engineering and the performance of multiple generations of quantum annealing processors built by D-Wave Systems. It has also participated in U.S. government research programs that looked into application of quantum annealing for combinatorial optimization, aviation, earth science and machine learning. NASA Ames Research Center is currently hosting a D-Wave 2000Q annealing system, thanks to the support of this partnership.
Standard Chartered and USRA intend to develop this initial collaboration beyond quantum annealing to all unconventional computing systems that could provide an advantage to applications of interest, such as gate-model noisy-intermediate scale quantum (NISQ) processors and Coherent Ising machines.
Bio: Alexei Kondratyev
Managing Director, Global Head of Data Science & Analytics, CCIB
Standard Chartered Bank
Alexei is responsible for providing data analytics services to Corporate, Commercial and Institutional Banking divisions of Standard Chartered Bank. He joined Standard Chartered Bank in 2010 from Barclays Capital where he managed a model development team within Credit Risk Analytics. Prior to joining Barclays Capital in 2004, he was a senior quantitative analyst at Dresdner Bank in Frankfurt.
Alexei holds MSc in Theoretical Nuclear Physics from the University of Kiev and PhD in Mathematical Physics from the Institute for Mathematics, National Academy of Sciences of Ukraine. He was the recipient of the 2019 Quant of the Year award from Risk magazine.