How Banks Are Adopting Quantum Computing
JPMorgan, HSBC, Goldman Sachs etc etc.
The usual suspects!
But what about the rest of the banking world?
Are smaller banks being left behind??!?!
Lately, I have seen the image above pop up in my LinkedIn feed.
It highlights how major financial institutions have been investing in quantum computing technologies.
This is interpreted as an indication of these institutions’ "readiness" for quantum computing once the technology reaches maturity.
Of course, we all know that leading firms such as JPMorgan Chase and HSBC are investing in quantum computing.
Their efforts are commendable, and we should applaud them for leading this progress.
However, the rationale for adoption is vastly different for small and mid-sized financial institutions.
Unlike JPMorgan or HSBC, these firms don’t have millions to allocate to experimental technologies—nor do they have the same urgency.
Large incumbents, as they are referred to in financial jargon, often face pressure to stay ahead of emerging technologies in order to maintain their competitive edge.
But smaller institutions, paradoxical as it may seem, have the luxury of waiting.
History has shown that, in many cases, it is actually advantageous for smaller players to let industry giants take on the initial risk—absorbing the high costs of early adoption, validating the technology, and refining use cases.
Only when the technology is tested and prices drop do these smaller firms step in, adapting their services and products accordingly.
Want to dive deeper? My eBook is a great place to start → https://www.ozatp.com/qaf
