the largest Japanese bank Mitsubishi UFJ will use quantum computing – Kommersant

2023-07-12 14:52:10

The largest bank in Japan and one of the largest banks in the world, Mitsubishi UFJ Financial Group (MUFG, with about $3 trillion in assets), intends to use quantum computing in its work. According to the Japanese agency Nikkei, the bank invested in the Japanese startup Groovenauts, which is engaged in quantum technologies. He specializes in quantum normalization / quantum annealing (quantum annealing) – a separate quantum computing model that optimizes the search for a solution given a set of many options.

According to the agency, MUFG bank invested “several billion yen” in Groovenauts, taking an 18% stake in the startup. In addition, MUFG will delegate one of its representatives to the Board of Directors of Groovenauts. A financial company can use quantum computing to conduct complex transactions and trades in derivatives, derivatives, in risk assessment and management operations, etc.

According to the Nikkei, recently several Japanese corporations have been thinking about using quantum computing in their work. Among them are Toyota, Sony, Mitsubishi Chemical Group, Sumitomo Mitsui Financial Group. According to Boston Consulting Group forecasts, the global market for quantum computers and computing by 2035 will be about $850 billion.

Evgeniy Khvostik