IBM signs up JPMorgan Chase, Barclays to collaborate on its quantum computing project

IBM has signed up a group of big companies including JPMorgan Chase, Barclays, Samsung, Daimler, Honda to join IBM's Q network. The IBM Q network provides online access to IBM's experimental quantum computing systems.

IBM said JPMorgan will be its "premier global financial services partner," and will focus on use cases for quantum computing applicable to the financial industry, including trading strategies, portfolio optimization, asset pricing, and risk analysis. Meanwhile, Barclays will build its knowledge of general approaches to quantum computing and start investigating potential use cases in finance. Also, Samsung will investigate new materials for microelectronics and new processes to improve manufacturing.

Dario Gil, vice president of AI and IBM Q, IBM Research said, "The IBM Q Network will serve as a vehicle to make quantum computing more accessible to businesses and organizations through access to the most advanced IBM Q systems and quantum ecosystem."

The IBM Q network will provide organizations with quantum expertise and resources to explore practical applications for their business and scientific research, starting with a 20 quantum bit (qubit) IBM Q system, available via the cloud. IBM also hopes the collaboration will lead to more quantum software and developer tools, the other key to making the technology useful.

The other institutions to join the IBM Q Network include JSR Corp., Hitachi Metals, Nagase, Keio University, Oak Ridge National Lab, Oxford University, and the University of Melbourne.