VASS, a global digital transformation company, has successfully led a pilot test of distributed quantum simulation in the cloud for BBVA, in collaboration with AWS. This project marks a milestone in the digital transformation of the financial sector, demonstrating the potential of quantum computing to address complex financial tasks.
Innovation and Digital Transformation
Quantum computing, known for its applications in sectors such as medicine and drug development, is proving to be equally revolutionary in the financial sector. VASS has developed tools and distributed quantum algorithms on conventional servers, optimizing the time and costs of quantum project development. This advancement allows financial companies to reach faster and more competitive solutions.
Collaboration with AWS
Collaboration with AWS has been crucial to the success of this pilot test. Distributing quantum algorithms across multiple conventional servers in the AWS cloud has allowed BBVA to deeply explore the potential of this technology. This test involved the execution of quantum algorithms with a computing power of up to 38 qubits, exceeding current standards of between 16 and 32 qubits.
Results and Expectations
The results of the quantum simulation have been outstanding, demonstrating that the use of classical servers can overcome issues associated with quantum computers, maximizing their potential. The technology developed enables rapid execution of algorithms on real quantum computers, optimizing costs and expanding the complexity of problems that BBVA can address.
Javier Recuenco Andrés, Head of Innovation in Technical Architecture at CIB BBVA, highlighted the importance of these advances: “With these tests, we have shown that at BBVA we can have our own architecture for the execution of quantum algorithms, which will help drive our exploration of their use in complex financial tasks.”
Francisco Javier Díaz García, Main Quantum Developer at VASS, added: “At VASS, we are committed to technological innovation, focusing on applied quantum solutions, mainly in the financial and security sectors. We believe that quantum simulation will play a crucial role in this process.”
Future Implications
Quantum computing has enormous potential to transform the banking sector, offering advanced solutions in product personalization and financial analysis. This pilot project not only demonstrates the commitment of VASS and BBVA to innovation but also paves the way for the integration of fault-tolerant quantum computers in the future.
With this advancement, VASS and BBVA position themselves at the forefront of quantum technology in the financial sector, showcasing how innovation and collaboration can drive digital transformation and offer more efficient and competitive solutions.
Source: Vass Company