One of the more significant applications for quantum computing will be within the financial industry to create financial models for credit ratings, risk, portfolio optimization, credit analysis, fraud detection and many other things. Moody’s, with over 2021 revenue of over $6 billion and over 13 thousand employees, is one of the largest service firms that provides such information to the financial and other industries. As part of their efforts, the Moody’s Analytics subsidiary has set up a new quantum computing team under the direction of Sergio Gago Huerta, Managing Director of Moody’s Quantum Computing, to explore how quantum computing can be leveraged for their business. The initial use cases they will explore include proprietary models for economic capital, risk modelling, and portfolio management in banking, insurance. The will also work on buy-side solutions the company has in the market. Moody’s already has powerful classical computing models for these use cases, but by working to improve their implementation through the use of quantum computing Moody’s is seeking to provide solutions which are even faster and more accurate with greater capabilities. Additional information about the activities of this new Moody’s Analytics Quantum Computing Team is available here.
September 17, 2022