Wells Fargo and IBM ink deal on AI and quantum computing

IBM announced a multi-year, collaborative effort with Wells Fargo focused on research and learning that is intended to boost the bank’s artificial intelligence and quantum computing capabilities.

As part of the agreement, Wells Fargo will join the IBM Q Network, a community that includes Barclays and J.P. Morgan and works to advance quantum computing and explore practical applications. IBM will provide Wells Fargo access to quantum computing systems for commercial use case exploration and fundamental research at the IBM Quantum Computation Center.

Wells Fargo will also participate in the MIT-IBM Watson AI Lab, engaging with research scientists from MIT and IBM Research in pursuit of leading-edge AI advances.

“Wells Fargo is very excited to accelerate our learning efforts in artificial intelligence and quantum computing through this relationship with IBM Research,” said Ravi Radhakrishnan, head of Wholesale, Wealth and Investment Management, and Innovation Technology at Wells Fargo. “We are looking forward to exploring how advances in artificial intelligence and quantum computing can help make banking faster, easier, smarter, and safer — for our customers and the whole financial services industry.”

Read the release

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