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The goal of the FLARE program 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 Computing, Cloud Computing, Augmented Reality and Virtual Reality, and Internet of Things.
The FLARE team, 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.
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, FLARE 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 FLARE 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.
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.
VR technology can virtually transport a user into another location entirely. VR lends itself to training scenarios that require a controlled simulation environment.
At FLARE, 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 FLARE 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 FLARE research efforts also include the design of more robust and efficient blockchain and cryptocurrency platforms, alongside the other business units of JPMC.
Meet the Team
The core FLARE 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.
Marco Pistoia, Ph.D.
Head of FLARE, Distinguished Engineer, JPMorgan Chase & Co.
Marco Pistoia, Ph.D. is Managing Director, Distinguished Engineer, and Head of JPMorgan Chase's Future Lab for Applied Research and Engineering (FLARE), where he leads research in Quantum Computing, Quantum Communication, Cloud Computing, Confidential Computing, Augmented and Virtual Reality (AR/VR), Internet of Things (IoT) and 5G. He joined JPMorgan Chase in January 2020. Formerly, he was a Senior Manager, Distinguished Research Staff Member and Master Inventor at the IBM Thomas J. Watson Research Center in New York, where he managed an international team of researchers responsible for Quantum Computing Algorithms and Applications. He is the inventor of over 250 patents, granted by the U.S. Patent and Trademark Office, and over 300 patent-pending applications. Over 40 of his patents are in the area of Quantum Computing.
Dr. Pistoia received his Ph.D. in Mathematics from New York University in May 2005. He is the lead author of two printed books: Enterprise Java Security (published by Addison-Wesley in English and by Tsinghua University Press in Chinese) and Java 2 Network Security (published by Prentice Hall), both used as textbooks in many universities worldwide. He is also a coauthor of the online textbook Learn Quantum Computation using Qiskit, published in 2020.
He has published and presented at numerous conferences worldwide, such as NeurIPS, OOPSLA, ECOOP, PLDI, ICSE, ACSAC, ISSTA, CCS, VMCAI, ICST, ICCAD and the IEEE Symposium on Security and Privacy. He has received five Best Paper Awards (three ACM SIGSOFT Distinguished Paper Awards, an ACM IUI Best Paper Award, and an IEEE VL/HCC Honorable Mention). He has published articles in numerous journals, including Physical Review Research, Journal of Chemical Theory of Computation, Journal of Chemical Physics, Journal of Physical Chemistry, Bulletin of the American Physical Society, IEEE Computer, ACM TOSEM, and IEEE TSE. He has also been invited to lecture at several research institutions worldwide, including Harvard, MIT, Dartmouth, New York University, University of Chicago, University of Maryland, Rutgers, Virginia Tech, Stony Brook, University of Texas at Austin,, Fordham, Stevens Institute of Technology and Oak Ridge National Lab in the United States; Tohoku University, Keio University, and the National Institute of Informatics in Japan; École Normale Supérieure in France; Dagstuhl School of Informatics and Saarland University in Germany; ETH Zürich in Switzerland; The Royal Society of London and University College London in the United Kingdom; La Sapienza University, Polytechnic University of Milan, and Tor Vergata University in Italy; Technion, Tel Aviv University, and Ben Gurion University in Israel; University of Porto in Portugal; Chalmers University of Technology in Sweden; University of Melbourne in Australia; and Danmarks Tekniske Universitet in Denmark.
He was the General Chair of ACM PLAS 2008, the Program Chair of the ACM Student Research Competition at PLDI 2009, the Program Co-Chair of the Industrial Tracks of MobileSoft 2016 and 2017, and ICST 2020. Furthermore, he has served as a Program Committee member on several conferences, including ASPLOS 2021, PLDI 2016 and 2017, CCS 2017, ICSE 2012, 2017 and 2019. ICST 2012, ISSTA 2011, NDSS 2009,. Dr. Pistoia has been a member of the Industry Advisory Council for the U.S. Department of Energy’s Quantum Science Center based at Oak Ridge National Laboratory since April 2020.
In April 2019, Dr. Pistoia received two IBM Corporate Awards – a Corporate Award is the highest technical recognition inside IBM. He is the only IBM employee worldwide, on a population of over 350,000 employees, to have received two Corporate Awards in the same year. He has also received an IBM Research Pat Goldberg Memorial Best Paper Award (3 papers selected our of 130), four IBM Outstanding Technical Achievement Awards, two IBM Outstanding Innovation Awards, and four IBM Research Division Awards. When he was a college student, he received an Erasmus Fellowship Award from the European Community.
Engagements with Government Organizations
Oak Ridge National Laboratory Industry Advisory Council for the U.S. Department of Energy's Quantum Science Center
Argonne National Lab Industry Advisory Department of Energy National Quantum Initiative Center
Offering grants to renowned professors and talented Ph.D. students in the academia allows FLARE to be on the forefront of research.
|University / Consortium||Professor||Research Area|
|University Of Milan, Italy||Pierangela Samarati||k-Anonymity for BiometricData|
|Chicago Quantum Exchange, USA||David Awschalom||Quantum Computing|
|Quantum Key Distribution|
Ph.D. Fellowship Recipients
|University / Consortium||Recipients||Research Area|
|University Of Oxford||Arthur Rattew||Quantum Computing|
When you join our technology team, you’ll thrive in a fast-paced, agile environment that encourages innovation through collaboration.
Artificial Intelligence Research
Artificial Intelligence Research
J.P. Morgan has teamed up with the association for Computing Machinery to host the first ever peer reviewed conference dedicated to AI in finance in October 2020.
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