Ionq hires the former research chief applied Jpmorgan Chase

Ionq hired the former chief of research applied to JPMorgan Chase To help customers of quantum business companies adopt new generation equipment, algorithms and security, CNBC has learned.

Marco Pistoia, who was at the head of the internal JPMorgan research group from 2020 to this year, will join Ionq as the main vice-president of relations with industry, the Company Quantum IT should announce on Monday.

JPMorgan, the largest American bank by assets, recently revised the management of his research group, which worked on quantum computers and other advanced technologies. Quantum IT has the potential of enormous advances in relation to traditional IT, and the technology giants as well as small companies listed on the stock market is underway to market it.

Ionq is one of the largest examples of quantum pure game companies. The company and competitors, including Rigetti Computing and D-Wave, have seen their actions increase in the past year, fueled by excitement in the emerging field.

In its new role, Pistoia will be directly under the CEO of Ionq, Niccolo de Masi, and will focus on businesses to adopt both quantum IT encryption and quantum encryption, he said in an interview last week.

A sufficiently powerful quantum computer could theoretically break the encryption methods that keep global financial data in security.

“There is a huge risk that the quantum poses against cryptography, so we need the whole world to move on to quantum cryptography,” said Pistoia.

Bad players could “take any public and retro-engineer key the corresponding private key,” he said.

The advent of a commercially usable quantum computer approaches quickly, according to Pistoia.

“I believe that the usable quantum computers are much closer now; we are talking about two to three years,” he said.

Pistoia said he hoped to continue collaborating with JPMorgan on quantum projects, as well as with other financial companies.

JPMorgan refused to comment on the issue.