Crédit Agricole CIB has deemed successful two quantum computing experiments involving the valuation of financial products and the evaluation of credit risk.
In order to conduct the experiments, the bank partnered with the French manufacturer of quantum computers Pasqal and quantum algorithms Multiverse Computing 18 months ago. The first examined how quantum computing could improve the performance of derivatives valuation.
The bank said that recent studies have demonstrated the effectiveness of neural networks for this kind of computation. However, because they require too much memory and have slow processing speeds, neural networks can be challenging to use in a number of situations.