Allstate Corporation has joined the Chicago Quantum Exchange (CQE) as a corporate partner, becoming one of the first major insurance companies to explore quantum computing’s potential for transforming the industry. The move positions Allstate within a leading research and innovation ecosystem as it seeks to leverage quantum technologies to improve customer service, operational efficiency, and long-term business strategy.
The company views quantum computing as a frontier tool for accelerating data analysis, enhancing risk assessment, and advancing fraud detection. While the technology remains in development, Allstate aims to explore its near-term use in boosting AI, machine learning, and digital decision-making. The CQE partnership will connect Allstate with academic researchers, startups, and quantum technologists across the Illinois–Wisconsin–Indiana region, allowing the insurer to shape use cases specific to financial services.
Welcoming the announcement, David Awschalom, Director of the Chicago Quantum Exchange and professor at the University of Chicago, emphasized the value of early industry engagement. “Companies like Allstate that are working now to develop sector-specific future applications will be among the first to reap the benefits,” he stated.
Read the original CQE press release here.
May 6, 2025
