BBVA runs successful trial of distributed quantum simulation

Following this announcement, BBVA completed a successful pilot test of distributed execution of quantum algorithms, across several conventional services in the AWS cloud. The BBVA pilot is expected to provide the bank with a proprietary architecture to further explore the overall use of quantum computing in complex financial tasks and processes. 

In addition, the company will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More information on the announcement

In order to run the test, BBVA worked with the Quantum Computing team of the digital transformation firms VASS and AWS, while also leveraging Qiskit software to distribute the overall execution of quantum algorithms across multiple classical compute servers that were located in the AWS cloud. In addition, it also developed a platform that automates and streamlines the distribution process. 

Throughout this distributed quantum simulation, BBVA will have the possibility to run quantum algorithms scaling up to a total computing power of 38 qubits, a scale that is difficult to reach while using a single classical computer. The higher the number of qubits, the more complex the problems the system will be enabled to tackle and solve. 

The trial was also used in order to demonstrate that classical computers can be used to test quantum algorithms at scale, as well as in an ideal computing environment. Quantum computing represents an emerging technology, and the hardware available currently is highly susceptible to noise. In addition, running large-scale simulations will allow BBVA to explore potential applications in a noise-free environment, with the potential to bring these apps to a larger quantum hardware as it matures. 

In addition, BBVA will be able to have a proprietary architecture for executing quantum algorithms, which are expected to optimise the exploration of their use in complex financial tasks. The company will continue its process of exploring the potential of quantum computing in order to find improved solutions to business problems and strengthen the overall security of communications and data.