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To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here. Quantum computing has the potential to be a transformative innovation in processing financial data. Quantum computers enable the simultaneous processing of multiple pieces of data by using the unknown quantum state of very small particles, rather than the classical use of transistors, as the basis of computing. The hope is that this could lead to far quicker processing times over standard classical machines.
Collaboration between universities and businesses is an effective way to foster innovation, especially when backed by government grant schemes. Experimenting with new technological applications can be very costly due to the low likelihood of a successful result — namely a profitable and market-suitable solution.