Quantum Computing Could Offer a Step Change in Fraud Prevention

Caute_cautim — Tue, 25 Jun 2024 22:15:22 GMT

Hi All

Quantum Shield is a key project within The Block Tech Hub, part of a greater collaboration with the state of Illinois through Innovate Illinois and Chicago Quantum Exchange that intends to make Illinois a hub for quantum exploration, solutions, and the development of a quantum workforce.

Quantum computing has the potential to produce breakthroughs in a number of industries, such as aerospace, chemicals, pharmaceuticals, financial services and energy, creating $450-850B annually for businesses and offering a wide range of benefits for consumers and governments. One increasingly urgent potential application is fraud prevention. Today fraud carries staggering costs for consumers, governments and financial institutions with $2T in money laundered every year, more than $40B lost in 2 identity scams and nearly $30B lost in credit card fraud alone 1.These numbers are expected to rise in the future with the growth of GenAI and e-commerce.

Regards

Caute_Cautim

topic Quantum Computing Could Offer a Step Change in Fraud Prevention in Tech Talk

Quantum Computing Could Offer a Step Change in Fraud Prevention