JP Morgan Chase steals IBM Brain
J.P. Morgan Chase has hired Marco Pisotia, an IBM veteran and prolific inventor, to lead the bank’s Future Lab for Applied Research & Engineering. This new group is working on financial applications for emerging technologies including quantum computing, edge computing, 5G wireless and the Internet of things. Pistoia has spent the past 24 years at IBM, most recently managing a quantum computing algorithms team, which is the technology J.P. Morgan will need to compete in the financial markets. J.P. Morgan Chase does not yet have any published patent applications in the area of quantum computing.
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