In a recent interview conducted by Yuval Boger, Carmen Recio, and Sergio Gago of Moody’s Analytics, they delve into the intersection of quantum computing and artificial intelligence (AI) in the financial services industry. Recio describes herself as an applied researcher in quantum computing, specifically focusing on its application in the financial sector. She leads the Moody’s Analytics team alongside Gago, who is the Managing Director of AI and quantum computing at Moody’s.
During the interview, the topic of hype surrounding AI and quantum computing arises. Gago expresses that there is often a misunderstanding about how these technologies merge and mentions that AI, particularly the ChatGPT model, has been overshadowing the attention and budget for quantum computing. He explains that many innovation teams may have limited resources and struggle to balance the adoption of multiple emerging technologies. However, the practicality and clear use cases of AI, exemplified by ChatGPT, have made it more digestible for companies to integrate it into their existing processes.
Despite the attention received by AI, Moody’s acknowledges the potential of quantum computing. The company primarily focuses on data analysis and generating insights from large volumes of information, specifically at Moody’s Analytics. Quantum computing presents an opportunity to disrupt, enhance, or complement the traditional solutions currently used in financial risk modeling. Whether it be improving machine learning, simulation, optimization, or portfolio optimization, Moody’s is exploring all avenues to stay ahead in the ever-evolving landscape.
Moody’s Analytics acts as a bridge between quantum computing companies and end users, helping businesses understand how quantum computing integrates into their operations. While the future might hold the possibility of AI or machine learning led by quantum computing, for now, quantum computing remains on a different horizon, separate from AI technologies like ChatGPT.
The interview sheds light on the importance of staying informed about emerging technologies and their potential impact on industries. As companies, such as Moody’s, navigate this landscape, they seek to leverage the benefits and opportunities offered by quantum computing while adapting to the constantly evolving role of AI.
Quantum Computing: A field that utilizes principles of quantum mechanics to perform computations, enabling faster and more complex processing, especially in handling large datasets and solving optimization problems.
Artificial Intelligence (AI): The simulation of human intelligence in machines, enabling them to perform tasks that typically require human intelligence, such as speech recognition, problem-solving, and data analysis.