Quantum computing firm IonQ hires former JPMorgan Chase applied research head

IonQ has hired the erstwhile caput of applied probe astatine JPMorgan Chase to assistance firm clients of the quantum steadfast follow next-generation hardware, algorithms and security, CNBC has learned.

Marco Pistoia, who was caput of JPMorgan's interior probe radical from 2020 to this year, volition articulation IonQ arsenic elder vice president of manufacture relations, the quantum computing steadfast is expected to denote connected Monday.

JPMorgan, the largest U.S. slope by assets, precocious overhauled the enactment of its probe group, which worked connected quantum computing and different precocious technologies. Quantum computing has the imaginable for tremendous advances implicit accepted computing, and tech giants arsenic good arsenic tiny publically traded companies are racing to commercialize it.

IonQ is 1 of the larger examples of pure-play quantum companies. The institution and competitors including Rigetti Computing and D-Wave person seen their shares surge implicit the past year, fueled by excitement successful the nascent field.

In his caller role, Pistoia volition study straight to IonQ CEO Niccolo de Masi and absorption connected helping corporations follow some quantum computing and quantum-safe encryption, helium said during an interrogation past week.

A sufficiently almighty quantum machine could theoretically interruption the encryption methods that support the world's fiscal information secure.

"There is simply a immense hazard that quantum poses against cryptography, truthful we request the full satellite to modulation to quantum-safe cryptography," Pistoia said.

Bad actors could "take immoderate nationalist cardinal and reverse-engineer the corresponding backstage key," helium said.

The advent of a commercially usable quantum machine is rapidly approaching, according to Pistoia.

"I judge that usable quantum computers are overmuch person now; we are talking astir 2 to 3 years from now," helium said.

Pistoia said helium hoped to proceed collaborating with JPMorgan connected quantum projects, arsenic good arsenic with different fiscal firms.

JPMorgan declined to remark connected Pistoia's hiring.