HSBC's Quantum Trading: A Breakthrough or Blunder?

HSBC recently reported a "world first" in bond trading, utilizing a quantum computer to achieve superior results. The bank suggested this experiment positions them "on the cusp of a new frontier of computing in financial services." However, prominent quantum experts are challenging these assertions, with some deeming them "zombie claims" due to a lack of verifiable quantum mechanical influence.

This event is part of a broader trend where numerous companies, including Google and D-Wave, have claimed "quantum advantage" or "quantum supremacy." Yet, intense scientific disagreement persists. Classical computers have significantly advanced, sometimes matching or even surpassing quantum systems' performance, making verification difficult. Even Google noted a problem they estimated would take 10,000 years on a classical computer could now be solved in 200 seconds.

While companies like Algorithmiq and Quantinuum report promising results, the commercial utility of quantum computers remains distant. Current machines are too small for precise, real-world calculations. Experts predict practical, fault-tolerant quantum computers might be a decade or more away, requiring significant breakthroughs in building stable qubit systems.