JPMorgan Chase joins Argonne National Lab-led Q-NEXT research center
JPMorgan Chase has become a member of the Q-NEXT, quantum research center operated by Argonne National Laboratory. With the addition of the global financial services firm, the Q-NEXT collaboration now comprises 27 institutional partners, 14 companies, 10 universities and three U.S. Department of Energy (DOE) national labs. The other two are the SLAC National Accelerator Laboratory and Pacific Northwest National Laboratory.
According to this news release, JPMorgan Chase will collaborate with Q-NEXT to advance the use of quantum technologies for fundamental algorithms and advance the state of quantum information research. Additionally, the firm is interested in engaging with community members to build algorithms specific to financial use cases for future impact and application.
“JPMorgan Chase’s research team is thrilled to be joining Q-NEXT to foster new research collaborations, engage with quantum experts across top research institutions in the industry and academia, and continue to uplift the national quantum information science community,” said Marco Pistoia, Managing Director and Head of Quantum Research at JPMorgan Chase.
In 2020, JPMorgan Chase opened its Applied Research Lab to design and conduct research across multiple frontier technologies, enable novel discoveries and inventions, and inform and develop next-generation solutions for clients and businesses. Among many research areas, the program is focused on advancements across quantum computing and quantum communications. The program includes research in the area of quantum key distribution, a method in which two parties share a secret key to decode encrypted quantum information.