The international company has been using Classic's platform for several months in order to build unique quantum algorithms for assessing credit risks
Classic, a provider of advanced quantum algorithm design platform, announced today (December 1, 2021) that it is working with global cloud service provider NTT DATA to implement innovative algorithms for credit risk analysis using quantum computers. Credit risk analysis aims to determine the repayment capacity of borrowers or credit to suppliers in order to quantify and limit the risk of causing a loss to the lender.
"NTT DATA looks forward to working with Classiq," said Shinichi Amiya, Head of Research and Development, NTT DATA. "We are interested in applying quantum computing technology in financial engineering and believe that the need to calculate complex business models will increase in the future. Classiq's platform allows us to efficiently produce and run quantum algorithms for applied problems that are difficult to perform in classical computing.
Classiq's unique platform will enable NTT DATA to capture, synthesize, analyze and optimize quantum algorithms on a larger scale. This will allow NTT DATA, a global digital business that provides IT services, to implement innovative algorithms for credit risk analysis in a way that is not limited by historical approaches to creating quantum algorithms.
"Sophisticated algorithms typically require a larger number of qubits," said Nir Minrabi, CEO of Classiq. "The Classiq quantum algorithm design platform is the best way to easily design general complex quantum circuits without needing a manual and tedious gate-level programming process."
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