The three banks hope quantum will help them increase their computing capacity and reduce how much time it takes to analyze risk positions. (The Wall Street Journal)

Talking point: The interest from some of Wall Street’s largest banks follows a series of breakthroughs in quantum computing. In September 2019, Google claimed “quantum supremacy”—that it had built a machine exponentially faster than the world’s most powerful supercomputer. Last week, Amazon Web Services announced a quantum computing service. For the banks, the big hope is making the once-a-day calculation of overall risk positions into a calculation that can take place on an as-needed basis. There’s a lot of money flowing into quantum right now. Canada has invested $1 billion in the past decade and is first in the G7 for per capita quantum research spending. However, all of this is still a long way off. JPMorgan predicts it will take at least five to 10 years to get results from its research.