IonQ hires former JPMorgan Chase applied research head
Marco Pistoia is the President of Global Technology at JP Morgan.
Source: JP Morgan
IONQ He hired the former Applied Research President at this address JPMorgan Chase Quantum has learned CNBC to help the corporate customers of the company to adopt new generation of equipment, algorithms and security.
Marco Pistoia, the president of JPMorgan’s internal research group from 2020 to this year, will participate in IONQ as the senior vice president of industrial relations, and the quantum information processing company is expected to announce on Monday.
JPMorgan, the largest US bank according to assets, has recently overhauled the research group, which has recently worked on quantum information processing and other advanced technologies. Quantum Information Processing has the potential for tremendous progress on traditional information process, and technology giants and small public companies are competing to commercialize it.
IONQ is one of the larger examples of pure game quantum companies. Companies and competitors, including Rigetti Computing and D-Wave, saw that their stocks increased last year and fed with enthusiasm in the new field.
Pistoia will report directly to IONQ CEO Niccolo de Masi as its new role, and during an interview last week, it will focus on both quantum information processing and quantum safe encryption.
‘Big risk’
A strong enough quantum computer can theoretically disrupt encryption methods that keep the world’s financial data safe.
“There is a great risk for Quantum to pos against cryptography, so we need the whole world to switch to quantum safe encryption.” He said.
Bad actors can take any public key and reversed the corresponding special key. “
According to Pistoia, the emergence of a commercially available quantum computer is rapidly approaching.
“I believe that available quantum computers are much closer now, we’re talking about two to three years,” he said.
Pistoia said he hoped to cooperate with JPMorgan in quantum projects and other financial companies.
JPMorgan refused to comment on this.
