NTT DATA is part of the NTT group of companies and is one of the leading providers of IT and business services in over 50 countries worldwide. They will be working with Classiq to utilize Classiq’s software for credit risk analysis. Credit risk analysis is a very important function within financial institutions. It can also be very complex. These algorithms will look at a wide variety of factors involved in a lending situation and help determine the risk involved that may arise from a borrower defaulting on the loan or other factors. This data will help the lender make a decision on whether or not to approve the loan. In classical computing this is often accomplished using a Monte Carlo algorithm which can be quite compute intensive. The Classiq software will allow a user to specify the algorithm with a high-level functional model and then use the software to translate it into optimized, low-level gate based models that can be targeted for a variety of quantum hardware platforms which in the future will be able to provide either a more accurate or a faster result to the potential lender. You can view Classiq’s announcement about its work NTT DATA in a post located on their website that you can see here.
December 1, 2021