The Finnovate Show
The Finnovate Show

Episode · 2 months ago

Simone Lettieri Dezan: How Quantum Computing will revolutionize your business!

ABOUT THIS EPISODE

Get ready for perhaps the biggest game changer in the financial services sector. What if we told you that a quantum computer will break most of the encryption that protects transactions on the internet, and soon? Or that leading physicists are on the verge of building faster computers that will revolutionize everything. Or that the benefits of quantum computing applied to the management of financial portfolios and customer solutions will be renowned. The truth is that although there is some hype, quantum computing presents major opportunities. Forward thinking organizations are already in the game, and those who are successful will have “tangible first mover advantage” over their competitors.  

Simone Lettieri Dezan, CDO of Meta IT talks about the power of quantum computing, what it is, and what it isn’t, the knowledge and processing power it enables and the need for industry leaders, or those who wish to be, to develop their quantum muscles now. 

...as a leader of your company you muststay up to date with your strategies and execution or risk obsolescence.Welcome to the Fin of a show financial services innovators bringing you thefuture today and now here's your host jerry Purcell. It's the fin of eight show brought toyou by Innovation 3 60 groups. I'm jerry Purcell. Get ready to think aboutyour biggest challenges and capitalize on your biggest opportunities. Afterthis. Executives depend on external consultants to fill knowledge andexperience gaps or to have an experienced mine audit. They'rethinking the Innovation 3 60 group brings together a wide range of proventhought leadership from around the globe and cost effectively makes itavailable to you. Get the insights advice and systems you need to succeed,learn more at www dot innovation 3 60 dot com. Our guest today is SimoneLettieri design. Simone's background is in technology and digital marketing inthe financial media, healthcare and startup industries. She is the Ceo andchief digital officer at meta I. T. Which is a technology solutions companyfounded in brazil and now in the U. S. And in Canada With employees in morethan 100 cities around the world. Experienced in strategy, thedevelopment and launch of digital platforms, applications, artificialintelligence and customer experience. Simona studied the power andimplications of quantum computing for many years. What if I told you that aquantum computer could break most of the encryption that protectstransactions on the internet or that leading physicists were on the verge ofbuilding faster computers that will revolutionize everything. Actually bothare somewhat true and false at the same time. The truth is that there is somehype, but quantum computing presents a major opportunities for financialservices and other industries exactly how and how much remains unclear today.Simone and I will talk about quantum computing what it is and what it isn'tand how it may just revolutionized financial services. Welcome to the showSimone. Oh, hi there, thank you for the invitation. So let's start sort ofsetting some context about traditional computing. What can it do and whatcan't it do in the context of quantum? Okay, so, well, today's classicalcomputers can do much more than we could ever imagine in the beginning ofit some years ago. So the supercomputers are largely usingwhether previews and economic scenarios also. But still they work in a binaryway when 13 0 or one. As for quantum...

...computers, they make direct use ofquantum mechanical properties such as superposition and entanglement and theyused zero and 1 therefore, they can calculate certain answers financiallyfaster than the classical might change. So how's quantum computing? Differentwhat makes it different than from traditional computing? So completelyWell, neighbor technic business problems that are more complex is suchas factoring searching for information and other data bases, for example, inUganda is using this quantum mechanical properties. So the position andentanglement counter computer helping neighbor try to explore the enormouspossibilities to and then find an optimal answer that could drivebusiness value for example are going to come here could quickly solve a complexoptimization problem that considers how specific resources such as time moneyenergy can best be used in a given scenario. Especially in financial. It'svery important to help people to calculate the best answer forprobabilities and difficult scenarios and spice classical computers,limitations, computers are not to replace them. It's very important tosay. So we're going to use classical and quantum computers in a hybrid waythat our new ways that are expected to emerge to to solve their problemsbusiness problems. So talk about a couple of the businessproblems that might be a target of quantum computing solution. So inchemistry for example, simulations for chemistry the health care industry andthe elephant batteries went completely appears to set potentially turned fromcertain industries. For instance the current competition chemistry methodsrely on approximation because the exact expressions cannot be solved byclassical computers. They don't have enough processors for it. And thequantum algorithms they expected to deliver accurate simulations ofmolecular over longer time scales. And there is a excrement done by accidentrate and one chief that is uh startup Qantas setup that provided all theboundaries the chemical bonds of a molecular something that the classiccomputer cannot resolve. And also this could be naval life saving drugsdiscoveries form people significantly especially for one person. So we'vekind of completing, we could read the D. N. A. Of a person and discover thediseases that this person could have and Come to a solution to a new drugfor that person. So 1-1 solution using...

...the quantum algorithms. So one of theearly stories that I heard about quantum computing was that all thesecurity passwords and that kind of stuff would be not useful anymorebecause the computer could just figure them out with with the sort of bruteforce of our quantum computer can do. Is that true? It could happen. So cybersecurity is one of the aspect of quantum computing that is veryimportant to speak here. Blockchain can be broken by quantum computers becauseof this the properties so they want to computers they work with zero and oneso they open all the doors for the answers at the same time. So it's goingto be easy to break Blockchain. It's important to say that for that to cometo that it's necessary to have the network the quantum network And we arestill far from that. Quantum networks evolves along with the new techniquesand the boosting uh computers and approach but still due to the delicacyof the cubits and environments there are some limitations to control theinformation related nowadays. Many countries such as china japan germancities Australia so and others they are helping wider developed the developmentof this quantum networks which significantly fundraising and back toalso for some corporations like google intel and IBM and others. So you needthe network the quantum network to evolve through the cryptography to thequantum cryptography. So there is a threat for the Blockchain. So how it'sgoing to be solved by quantum cryptography. It's another way ofapproaches of getting to the cybersecurity, clinton, cybersecurity.So it's gonna be a new word for us given that the data is king nowadaysAnd and you know there's at least some people to think that that's the answerto everything. The it seems to me that there's a relationship betweenartificial intelligence and quantum computing. How does that work? What isthe relationship and and how can quantum computing help us, you know, inartificial intelligence. Okay, so want to comparing is going to help us toprocess the information is financially artificial intelligence is based on theprinciple of learning from experience become more accurate as Phil back isgiven and as more faster it's given more faster it's going to improve forexample, who was creating a i based on quantum computing or the other wayaround funds computer based on ai so in the reserve is they create a machinelearning system that used reinforcement...

...learning. Try and error and using thequantum computing is going too fast sir. The assessment of that and they arethey've got to this auto machine learning that projected automated. Oneof the most difficult parts of the deep learning software project, choosing theright neural architecture uh for the neural natural architecture. And what'svery interesting is that doing that with the Quantum comparing the oldmachine learned resolve it problems that all the best extractors therecould not even they corrected some part of the in your architecture that we'renot very well done for this for the ai they are developing also facebook isdoing the same and they had a problem, you know that they had a problem withthe too much and learned that they emerged uh creating a new language andtalking between each other. So facebook had to turn it off so that theseartificial super intelligence is a concept of recursive self improvementthat's gonna be boosted by quantum computer by the time we have it moremajors so we can imagine all kinds of applications I think of the technologyas I sort of did some research, I found that there's a number of the banks thatare thinking about the use of quantum technology in terms of portfoliomanagement and investments and stuff like that. How are they using that?What could quantum computing do for investments? Actually there are somebanks, the networking event, some of them in the IBM network and anotherother banks with other uh do wave and the other companies that are workingwith content comparing uh an example, J P. Morgan chase is a case and tastevery very well known. They are working with IBM is if I'm not wrong trumpsince in 2017 and they are evaluating new new new ways of having the bestportfolio, best scenarios using the processes of the idea and clintoncomputer. So if they are improving every year with the cubits andimproving the performance criteria with the quantum computing it's a projectnow and they are even Hying people to work with the quantum computing thereat J. P. Morgan Chase that's a problem that we have a quantum computing. Soit's since this is an exponential technology it's growing faster everyyear and there is a shortage of people who knows how to program quantumcomputing. So companies that ahead of...

...that time and it started to workingwith the project some years ago are facing this problem now is probably aproblem that will have in some years when the quantum computers major thannow. Sounds like the next career move for a data scientist. Is that likely?Yeah. Regardless that there is a research that government madethroughout the world two years ago there for uh artificial intelligencethere was only 2000 people all of the world's so two years ago. So it'simagined for counter computer. So yes there are I think that from from now onwe have many positions for data analytics. Physicians chemistry peopleworking with artificial intelligence 5G and quantum computer. Yeah The world is moving fast. It'sdifficult to keep up your executive team routinely needs new ideas to keepthem ahead of the competition. Imagine having a plan in place in 30 days tofocus your innovation efforts, improve customer experience, accelerate yourmove to digitization or increase speed to market. Our guide to acceleratingyour innovation agenda provides you with insights and time saving resourcesto plan your path forward contact jerry to book a quick call or for yourcomplimentary copy at www dot linkedin dot com backslash in backslash jerryPurcell, G E R R Y P U R C E L L or email jerry at jerry dot Purcell atinnovation 3 60 group dot com. So so it sounds like it has a lot ofpromise and people have been talking about it for a while. There are anumber of potential applications for it including predicting behaviors andoutcomes and all kinds of fancy stuff that could really change some of thecomponent parts of the banking business. You know the ability to predict longterm events and you know, all the all these sorts of things. What's in theway? Why isn't it in place already like what is it that holding it back besidesresources? Oh wow. Well in the beginning of collective computers as ithappened there now we're in the beginning of Quantum comparing so thereare moves to the possibilities that we don't know yet and the projects and wemoved to us so Cos incumbent startups and governments invest in humanmountains in research and having this process there are more than 2000approaches all around the world from the different approach to hardwarequantum devices and quantum sensors.

All of them working on 18. So I thinkthere multiple possibilities. Is it there's a company in the diamond sectorin Africa and the notes opportunity of chemical thought within literally invacancies there's another approach for quantum computer. So I think that wasworking on that. So whereas we are growing faster still there are manythings to to learn and the name things to discover. So there are mobile Ithink I I think I know I'm sure there will be many other opportunities thatwe don't know yet before the ones we know that is chemistries, cybersecurity,financial logistics organization and musicians for the climate for the worldthat so there are things that we still don't know. Yeah and there's stillpeople building quantum computers different ways to sort of see what'sthe best and like that. Yeah. Yeah there is a company in Canada calleddeal with and they are working with less complex approach and is workingfine with optimization and logistics. Uh Volkswagen has run a big projectwith them in china for logistics and with 10,000 taxes and it works verywell and the tradition of the best route for for the taxes worked so finethat they went to the Portugal Web summit two years later with thisexperiment and they worked there with people who are at the web summitshowing how the optimization could be better with better with the quantumcomputer. Uh so given the upheaval of the covid and the sort of holes that itsort of made obvious around supply chains and suppliers or whatever, Iwould also imagine that there's a fair bit of time and energy being spenttrying to figure out how to optimize supply chains, how to predict themovement of goods and and all that kind of stuff. Yes. Yeah, sure. Not not onlysupply chain but also how to, to help the autonomous vehicles. Hagel's to runbearer with all the components they have and finding the best it's the bestroad. Yeah. Mm So here's a question for you aroundfinancial services. How do you think quantum computing could be used toaddress some of the big issues in financial services which has enormouspotential in the financial service due to greater greater processing power.Direct audio about in this deep in general, the faster financeinstitutions can process transactions or make decisions the more profitablethey are likely to be today. And one of...

...the main application of comparing isthe algorithm trading. So this is where the hours dips and didn't need initiatetalk trading according to predetermined strategists and ignoring arrow fromhuman praises. Other advantage including more accurate assessments onhow persons will perform and what investments accompanied, much fake suchas it goes. So it's going to help them to process all this informationdifferent scenarios. So one of the things that is big in the retailbanking is the customization of individual experiences. So it seemslike that would be something that would be a potential sort of application fora quantum computer to sort of understand everything there is to knowabout you and give you something that's unique to you. Yeah. Yeah like I saidbefore with the same as the chemistry. So it's going to help the researchersand also the finance people too To define a bearer uh want one bettersolution. Mm So do you think this is going to change the way we think aboutbusiness? Mhm. Sure. Oh I totally, yeah but pretty much yeah. Yeah. So uhQuantum computer states a set of circumstance that make it possible tostart up and also increments on good results in the revenues from the market.So Not only uh chemistry and the health care and to develop an effective drugas I said that 1-1 or new drugs, the research to evaluate from directionsbetween more lifeless molecular. So this dismount the chemistry bones thatquantum computer can help you to find. We have a lot of the chemistry andhealthcare industries in terms of logistical, large scale logisticsoperation depends on numerous variables as we said and it's constantly affectedby the number of factors. And so the content of the professors of thequantum computers will help them with new data and the increasingly definitethe village to process the all the information the companies need? Finance?Uh we have our talk so for finance to predict to have a new portfolio andpredicted the variables and advertising laboratory they need. So it's going tohelp. And cyber security is gonna be a new, I think that's gonna be a newindustry completely different of the quantum networks, not only the hardwareand the software but all the network...

...that we need to this cryptography, thisquantum cryptography. Mm So one of things that fascinated me in ourconversations before and in some of the research I've done is this this reallyis something where if you're a first mover you really have advantage becauseit is so difficult to understand because they are limited capabilitiesand stuff like that. That if you get ahead of the crowd you could actuallyfirst of all changed the industry but also you know, be in a position whereyour competitors couldn't catch up you for quite some time. Is that right? Nodoubt. Yes, by all means so the the adviser that it's uh tell them peopleis to step into your kind of a tour now don't wait for the next years. So youyou think the Angela Merkel just signed a big contract with IBM So the thecountries are red on it so you cannot be so far from that. So don't getbehind. No. What other what other advice would you give? Uh would yougive executives uh, today as it relates to taking advantage of quantumcomputing? Um start training people because we are in shortage of goodpeople, good developers in traditional classics computers. So quantum computeris not difficult but people are not used to that. So start training, startgetting your people and start building a small project. Try to test someransom pilots and get used to this new technology. Very interesting. It'scertainly something that's very thought provoking. I just wanted to ask ifthere's any any particular capability with inside meta that you think wouldbe helpful to clients. I mean is an area of your focus. Right. So how doesthat, how does that apply in terms of what you can bring to the table to helpuh, there are militias data and the fight on our this languages that we usewith data and artificial intelligence will help a lot to start with thiscomputer. And by next week we are going to launch our lab funds computer andnew technologies left by by the end of next next year. So you're going to helpour clients must be very exciting. Yeah. So, so thank you very much Simone thatwraps up our episode. As always. I look forward to hearing thoughts from youour listeners about today's show. Please keep the conversation going ifyou like the show. Tell your friends and please take a minute to radar showor post a comment. Go to Innovation 360 dot com or your favorite podcast site.To find out more and to listen to more shows. Simone, thank you very much forchatting with me. It was very...

...insightful. Thank you very much. Gary.Yeah. Stay safe and see you. Next week. You've been listening to the fine ofeight show with Jerry Purcell. If you like the show, share it on your networkand subscribe on itunes or wherever you listen to podcasts. And you can go towww dot innovation 3 60 dot com to listen to more shows, download thetranscription from today's show or to contact today's guest. This is theinnovate show, Financial services innovators bringing you the futuretoday.

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