JPMorgan hires scientist Charles Lim just in time for the feared quantum-supremacy moment.

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Charles Lim, an assistant professor at the National University of Singapore, plans to investigate next-generation computing technology in secure communications.

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According to Marco Pistoia, Lim is a "recognised worldwide leader" in quantum-powered communications networks.

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Pistoia, who joined JPMorgan from IBM in early 2020, has built a team focused on quantum computing and other emerging technologies.

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Unlike conventional computers, which store data as either zeros or ones, quantum computing is based on quantum physics.

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Qubits, rather than being binary, can be a combination of zero and one, as well as any value in between.

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Alphabet and IBM are racing to build a reliable quantum computer, and financial firms such as JPMorgan and Visa are investigating potential applications.

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"New horizons will open up, things we didn't think were possible before," Pistoia said in a JPMorgan podcast interview.

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