Priya Patel
TLDR: Sandbox AQ is combining artificial intelligence (AI) with quantum computing, in a technology that could have significant implications for the financial services industry and other verticals. The AI-quantum computing hybrid, called AQ, allows for the development of better predictive models by leveraging the principles of quantum mechanics. AQ uses quantum sensing with advanced AI to unlock insights in various sectors. Some potential use cases include risk mitigation, fraud detection, and portfolio optimization in the financial services industry. HSBC is reportedly already using AQ to modernize encryption management.
Sandbox AQ is merging AI and quantum computing in a technology called AQ, which could have significant implications for the financial services industry. AQ allows for the development of better predictive models by leveraging the principles of quantum mechanics.
Through the combination of quantum sensing and advanced AI, AQ can unlock insights in various sectors, including financial services, navigation, medical devices, and imaging.
In the financial services industry, AQ has the potential to disrupt three areas: risk mitigation, fraud detection, and portfolio optimization. AQ’s quantum machine learning models can capture fraudulent transactions better than current alert-based systems, and can optimize diversification and asset allocation in portfolios. HSBC is already reportedly using AQ to modernize encryption management.
Sandbox AQ was spun out of Alphabet in 2022 and has since made several high-profile moves in the AI field. It raised $500 million in funding in 2023, enabling its first major acquisition, AI accelerator and simulator Good Chemistry. It also formed a partnership with Accenture to explore quantum solutions to security issues.
Sandbox AQ presented a paper at the World Economic Forum in January, which outlined the potential applications of AQ in the financial services industry. The company aims to educate the general public, as well as corporate and government entities, on the value, benefits, and risks of new technologies.
