Global Technology Applied Research 

Exploring the frontiers of Quantum Technologies as they are applied to the business, covering Quantum Computing and Quantum-Secured Communications, to address Quantum Computing’s inevitable disruption to today's cryptography.

Quantum Computing

In classical computing, the smallest unit of information is a bit, represented as a one or zero. With quantum computing, the smallest unit of information is the quantum bit (qubit), which can exist as one, zero or simultaneously as both. When two or more qubits are brought together and entangled in a closed system, they form something similar to a network that, when paired with a quantum algorithm, can unleash computational capabilities that are more powerful than those of classical computers. Quantum computers have the ability to operate on multiple inputs simultaneously, and their computational power doubles with every new qubit added to them -- an exponential growth. Quantum algorithms can harness this property to solve certain types of problems significantly more efficiently than the best known classical computers. For example, for option pricing, the classical Monte Carlo simulation needs millions of samples, but its quantum counterpart achieves dramatic speedup with only a few thousand samples. Once quantum computers exceed the capabilities of classical computers, they will reach what is known as quantum supremacy.

JPMorgan Chase is one of the first financial institutions worldwide to invest in quantum computing and to build an internal team of scientists to work on new quantum algorithms and applications to address business use cases in finance, AI, optimization and cryptography. There is a need for standardization across the quantum industry in areas including consistent metrics to quantify hardware fidelity, post-quantum cryptographic algorithms, and quantum secure channel communication protocols. We also believe that there will be a shift from optimizing an entire algorithm to breaking it apart into a hybrid classical/quantum algorithm where quantum will be used only for portions of the computation that are exponential in nature, thereby creating the need for smart compilers that automatically perform this hybrid mapping.

To date, the program has produced new quantum algorithms for use cases such as portfolio optimization, option pricing, risk analysis, and numerous applications in the realm of Machine Learning, ranging from fraud detection to Natural Language Processing. The ultimate goal is to implement quantum solutions for the firm’s relevant use cases and embrace an industry-leading position in the chase for quantum advantage and quantum supremacy. The ultimate goal is to implement quantum solutions for the firm’s relevant use cases and embrace quantum advantage and quantum supremacy before its competitors. Additionally, JPMorgan Chase, Toshiba and Ciena completed an experiment that demonstrated the full viability of a first-of-its-kind Quantum Key Distribution (QKD) network for metropolitan areas, resistant to Quantum Computing attacks and capable of supporting 800 Gbps data rates for mission-critical applications under real-world environmental conditions. The success of this prototype shows that the firm now has a proven and tested method for preventing quantum attacks, and that it can be used to secure a Blockchain application—something that, up until now, has been unattainable.

Quantum Key Distribution for Quantum-Secured Communications

The advent of quantum computers has created a potential threat to the current data encryption methodologies. Based on the principles of Quantum Mechanics, Quantum Key Distribution (QKD) can establish unconditional secure communication channels. QKD will play a crucial role in securing JPMorgan Chase’s critical network infrastructure against any eavesdropping attempts, hence largely nullifying the threat of Quantum Computers. For this reason, Global Technology Applied Research is actively conducting research on QKD technology.

Conducting research around Service Mesh optimization and automatic refactoring of monolithic applications into microservices.

In the field of Cloud Networking, Service Mesh represents a dedicated infrastructure layer for handling service-to-service communication, while providing reliable delivery of requests through complex topologies typically associated with cloud-native, microservice-based applications. The mesh consists of a data plane and a control plane for orchestration:

• A data plane is an array of lightweight network proxies, deployed alongside distributed application nodes. It intercepts all network traffic, enforces the policies set by the control plane, emits logs and metrics, and performs various service-level functions, such as discovery, health checks, authentication, and load balancing
• A control plane is a central manager for defining policies, orchestrating the data plane, and collecting telemetry

The Global Technology Applied Research research team is conducting research on how to optimize Service Mesh for a multi-cloud network infrastructure. Specific areas of interest include maximizing the portability of microservices across a hybrid cloud, while increasing security, resiliency, and adherence to firmwide governance. Another direction of research consists of utilizing program analysis and artificial intelligence to automatically discover the optimal refactoring of monolithic, legacy applications into microservices.

Integrating AR/VR with novel discoveries in computer vision, privacy and anonymity, and exploring ways to make client and employee experiences come to life.

The firm is enhancing the employee capabilities and customers’ experience with audiovisual technology that mixes the physical and digital dimensions together. The goal will allow connected individuals to superimpose digital data over the surrounding environment in order to enhance learning and memory processes in the brain.

Augmented reality

AR technology superimposes digital objects over the surrounding environment. At JPMorgan Chase, AR is particularly attractive for its ability to transform the workplace and customer environment with 3D work instructions and guidance, optimize daily operations, improve field service experience, accelerate training and onboarding, enhance sales and marketing efforts and save costs. 

Virtual reality

VR technology can virtually transport a user into another location entirely. VR lends itself to training scenarios that require a controlled simulation environment.

Research Aspects

At Global Technology Applied Research, we are investing in engineering the AR/VR infrastructure by optimizing device interconnectivity and augmenting the technology with Computer Vision, privacy and anonymity enforcement.

Investigating how to use IoT to enhance user experience for its employees and customers.

The Internet of things (IoT) is a system of interrelated computing devices, mechanical and digital machines provided with the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. Our research is focused on data, network and device management, edge computing, Computer Vision and enforcement of privacy and anonymity.

Blockchain and cryptocurrency technologies are a prime example of technologies at risk from the advancement of quantum computers The Global Technology Applied Research team, in preparation for the arrival of cryptographically relevant quantum computers, is conducting research into methods to adapt these technologies to be quantum resistant. These research efforts include both the use of quantum cryptographic technologies as well as classical cryptographic tools, and indeed the combination of the two. More broadly, the Global Technology Applied Research efforts also include the design of more robust and efficient blockchain and cryptocurrency platforms, alongside the other business units of JPMC.