Goldman predicts quantum computing 5 years away from use in markets

Goldman predicts quantum computing 5 years away from use in markets

Quantum computing could be brought to bear on some of the most complex calculations in financial markets within five years, considerably earlier than expected, according to research jointly conducted by Goldman Sachs.

The findings come as banks and other companies at the leading edge of quantum research have turned their attention to trying to get practical results using the imperfect quantum computers that are expected to be in use in the next few years, rather than wait for the much more powerful systems that are one day expected to bring a revolution in computing.

The bank's research, conducted with quantum start-up QC Ware, suggests that programmers looking to harness the machines could achieve practical results sooner in return for giving up some of the huge gains in performance that quantum systems promise.

The work reflects a recent effort by companies investing in the field to search for "quantum advantage“, or a marginal practical improvement compared with existing computers. That is a more modest goal than waiting for full "quantum supremacy“, the term used for when quantum systems are able to solve problems that are essentially impossible for a classical computer.

The research looked into using quantum machines to price complex derivatives, one of the