Overview

The goal of the Global Technology Applied Research (GTAR) center at JPMorgan Chase & Co. is to design and conduct research across multiple frontier technologies, in order to enable novel discoveries and inventions, and to inform and develop next-generation solutions for the firm’s clients and businesses. The immediate areas of focus include the field of Quantum Technology, Augmented Reality and Virtual Reality, Cloud Networking, Internet of Things and Blockchain and Cryptography.

The Global Technology Applied Research, headquartered in New York, is part of the researchers distributed across the world in all strategic technology areas.

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.

Additionally, JPMorgan Chase and QC Ware, a quantum software and services company, have just completed a study of quantum “deep hedging,” paving the way for future increased risk mitigation capabilities in financial services.

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 multiple approaches for mitigating the quantum threat through cryptography: the study of secure communications that includes ways to guarantee confidentiality and integrity.

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.

Immersive Technology is inevitably maturing, and we are seeing 3-D content embedded throughout web and mobile, scientific and e-commerce applications.

As this technology is widely adopted, it is getting easier to create and embed immersive data into workflows, with the goal of eventually offering fully immersive AR/VR experiences with insightful data visualization/collaboration.

These meaningful data driven experiences require data controls. To properly share and stream immersive data, JPMorgan Chase can build solutions for entitling and controlling these immersive and unstructured data representations.

There is as an opportunity create an Immersive Data Technology Platform for onboarding, enabling, and managing immersive data, runtime, and developer experience in the firm.

This work aims to enhance the developer experience, offering immersive and unstructured data management, providing runtime capabilities and aligning with industry standards and tools.

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 distributed ledgers are an emerging technology in financial banking. JPMorgan Chase is a dominant player and a pioneer in the development of blockchain technology for digital assets. However, the use of distributed ledgers in banking applications is limited due to privacy concerns as certain clients are not comfortable sharing transaction details or other forms of data across banking institutions.

Research efforts are focused on enhancing confidentiality requirements that do not naturally exist in in public/private blockchain products. This work will aim to attract more banks/clients to participates in JPMorgan Chase’s digital assets (where their data activity is not compromised to any participant), align with strict regulatory requirements for data sharing (e.g. GDPR) and create new opportunities for international finance products.

Also, in preparation for the arrival of cryptographically relevant quantum computers, the team is conducting research into methods to adapt blockchain technologies to be quantum resistant.

Leadership team

Marco Pistoia, PhD

Head of Global Technology Applied Research, Distinguished Engineer, JPMorgan Chase & Co.

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Blair MacIntyre, PhD

Head of of Immersive Tech, JPMorgan Chase & Co.

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Charles Lim, PhD

Global Head of Quantum Communications and Cryptography, JPMorgan Chase & Co.

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Richard Chen

GTAR Research Director

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Joe Ligman

GTAR Research Director

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Shaohan Hu, PhD

GTAR Research Director

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Global Technology Applied Research Team

The core Global Technology Applied Research team includes researchers with diverse technical backgrounds. The team partners with internal stakeholders to embed directly into the business for a more applied research focus, in addition to external research organizations to maximize collaboration with renowned scientists in the field.

Flare team members

Global Techhnology Applied Research core team

 

Engagements with Government Organizations

Oak Ridge National Laboratory Industry Advisory Council for the U.S. Department of Energy's Quantum Science Center

Argonne National Laboratory Industry Advisory Council for the U.S. Department of Energy's National Quantum Initiative Center

Q-Next Industry Advisory Council for the U.S. Department of Energy’s Argonne National Laboratory

Academic Engagements

Offering grants to renowned professors and talented Ph.D. students in the academia allows Global Technology Applied Research to be on the forefront of research.

Grant recipients

University / Consortium Professor Research Area
University Of Milan, Italy Pierangela Samarati
Vincezo Piuri
k-Anonymity for BiometricData
Chicago Quantum Exchange, USA David Awschalom Quantum Computing
Quantum key Distribution
Quantum Science and Engineering Consortium, USA Aram Harrow Quantum Computing for Finance

PhD fellowship recipients

University / Consortium Recipients Research Area
University Of Oxford Arthur Rattew Quantum Computing

Industry Partnerships

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