Classiq, which offers a breakthrough Quantum Algorithm Design platform, has announced that it is working with NTT DATA to implement ‘”novel” credit risk analysis algorithms using quantum computers.
Credit risk analysis “exists to determine the creditworthiness of borrowers or vendors to quantify and limit the risk of loss to the lender,” according to an update shared with Crowdfund Insider.
Shunichi Amemiya, Head of Research and Development HQ, NTT DATA, stated:
“NTT DATA is looking forward to collaborating with Classiq. We are interested in applying quantum computer technology to financial engineering and believe that the need to compute complex business models will increase in the future. Classiq’s platform enables us to effectively generate and run quantum algorithms for the issues in applying to our supposed use case.”
Classiq’s platform should enable NTT DATA to capture, synthesize, analyze, optimize quantum computing algorithms that are able to scale, the update explained.
The announcement also mentioned that this will “allow NTT DATA, a global digital business, and IT services leader, to implement novel credit risk analysis algorithms in a way that is hardware-independent and not limited by historical approaches to creating quantum algorithms.”
Nir Minerbi, CEO, Classiq, remarked:
“Sophisticated algorithms typically require a greater number of qubits. The Classiq Quantum Algorithm Design platform is the best way to general intricate quantum circuits with ease without resorting to the process of manual, tedious gate-level programming.”
As mentioned in a release, NTT DATA – a part of NTT Group – is “a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, digital & IT modernization and managed services.”
NTT DATA enables them, as well as society, to “move confidently into the digital future.” They are “committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries around the globe.”
As noted in the update, Quantum is disrupting computing. Classiq’s Quantum Algorithm Design platform is “revolutionizing quantum software development.” Forward-thinking firms use their platform to “solve real-world problems with quantum circuits that could not be created otherwise.”
Their patented breakthrough tech “automatically transforms high-level functional models into optimized quantum circuits for a wide range of back-end systems, turning months into minutes of work and making it possible to harness the true power of today’s and tomorrow’s computers.”
