All tagged Quantum Computing
Quantitative Analysts, or “quants”, use complex algorithms and mathematical models to analyze data and predict outcomes, critical skills in the world of stock trading. Before the 1970s and 80s, successful traders sat down with CEOs and economists to gain exclusive information that, when combined with their intuition, allowed them to hedge educated bets on stocks. As market news became digitized, people with a background in math began to realize that stock markets displayed patterns, and complex models could be used to predict whether a stock was going up or down. They started using computers to analyze vast amounts of data, putting information through algorithms designed by mathematicians and computer scientists that returned instructions on buying or selling a particular stock. As computer technology advanced, algorithms became more complex, and the field of quantitative finance grew. Today, almost every trader, from day traders to massive hedge funds, uses research done by quants to help them decide which stocks to buy and sell.
A quantum computer is a computing device that uses quantum bits (qubits), which can exist in multiple states simultaneously due to superposition and be correlated through entanglement, enabling it to solve certain complex problems much faster than classical computers.
The journey to quantum computing began with the early developments in quantum mechanics. Max Planck's pioneering work revealed the concept of discreteness at sub-atomic levels. J.J. Thomson's discovery of electrons in the cathode ray tube, followed by Rutherford's description of electrons orbiting the nucleus, laid crucial foundations. An unexpected source of insight came from a bad cigar, which played a role in uncovering the concept of spin as intrinsic angular momentum in electrons (Friedrich & Herschbach, 2003).
You may have heard of a unique computer known as a quantum computer. These computers are similar to traditional computers as they both need to be programmed to perform tasks, process information, and perform logical operations such as AND, OR, and NOT. While the two types of computers have some similarities, quantum computers differ in how they compute data, how they are programmed, the hardware and settings that are required to run them, and more. Quantum computers are of great benefit to us globally due to the fact that they can solve complex problems and create accurate predictions that would take a classical computer an exceptionally long time to compute.
