Quantum computing is still in its infancy, easily beaten by traditional computers. One of the biggest challenges? The fact that quantum bits — qubits — are much more fragile than the bits in silicon computers, so a lot more redundancy is required. In fact, today’s quantum computers require thousands or even tens of thousands of qubits in order to create one, usable, functional, logical qubit.
The solution? Error correction.
“Error correction is vital for enterprise users of quantum computing,” says Yoram Avidan, CTO of Citigroup’s Innovation Lab and global head of Citi Accelerator.
Error correction ensures the accuracy and reliability of quantum computations, he says, which is particularly important for financial monitoring. “Error correction capabilities are crucial for enabling stable, predictable, and accurate quantum-based solutions, especially in the context of financial applications we are running in the bank,” Avidan says. “Error correction will definitely accelerate the adoption of quantum-based solutions in the bank.”
But while Citigroup waits for that to happen, it’s already experimenting with the technology that’s available. Citi is using Amazon Braket, a cloud-based service, to see how well quantum computers could handle portfolio optimization tasks. Amazon Braket supports a number of physical quantum computers, including computers from IonQ, Rigetti, Oxford Quantum Circuits, and QuEra.
