Laura WilesThe FCA has published a research note on the potential applications of quantum computing in UK financial services.
Key findings included:
- Quantum computing in financial services presents a national growth opportunity;
- Near-term commercial applications may be viable, but the full quantum stack needs attention;
- Leading firms are already building quantum readiness strategies;
- Quantum applications for financial services broadly fall into three problem domains: optimisation, machine learning, and stochastic modelling;
- The sentiment landscape varies across these domains: optimisation is seen as potentially promising but requiring more mature hardware; quantum machine learning is at an exploratory stage; and stochastic modelling offers a clear theoretical speed-up, which may not suffice for commercial advantage;
- New regulations are unlikely to be required in the near term;
- Quantum readiness relies on interdependent actions across the ecosystem;
- For financial services firms, readiness strategies can balance direction with flexibility;
- Regulatory awareness is low among quantum computing vendors;
- Regulators could adapt or create innovation tools to support quantum development; and
- A new Applications Regulatory Readiness Framework could support effective regulatory engagement.