JPMorgan hires scientist Charles Lim just in time for the feared quantum-supremacy moment.
Charles Lim, an assistant professor at the National University of Singapore, plans to investigate next-generation computing technology in secure communications.
According to Marco Pistoia, Lim is a "recognised worldwide leader" in quantum-powered communications networks.
Pistoia, who joined JPMorgan from IBM in early 2020, has built a team focused on quantum computing and other emerging technologies.
Unlike conventional computers, which store data as either zeros or ones, quantum computing is based on quantum physics.
Qubits, rather than being binary, can be a combination of zero and one, as well as any value in between.
Alphabet and IBM are racing to build a reliable quantum computer, and financial firms such as JPMorgan and Visa are investigating potential applications.
"New horizons will open up, things we didn't think were possible before," Pistoia said in a JPMorgan podcast interview.