Sberbank and ROSATOM Partner to Develop Quantum Technologies

Two Russian financial and research giants report that they are combining forces to explore the development of quantum technologies. Sberbank and joint venture Quantum Technologies (JV Kvant Ltd.), a ROSATOM company, have agreed to cooperate on quantum technology development, according to a joint statement from the organizations.

Sberbank is a state-owned Russian banking and financial services company headquartered in Moscow and ROSATOM is a Russian state corporation headquartered in Moscow that specializes in nuclear energy.

Albert Yefimov, Vice President and Director of Research and Innovation at Sberbank, and Ruslan Yunusov, Head of Rosatom’s project office for quantum technologies and the National Quantum Lab, signed the agreement.

According to the statement, the organizations will explore a variety of ways to work together to develop quantum tech. Joint expert groups, as well as seminars and conferences, will allow the sides to establish a mutual exchange of information and experience. Sberbank will bring its many years of technological expertise and its experience in the implementation of large-scale computer complex projects.

“In their turn, quantum technologies are capable of changing business models in multiple areas – from AI to pharmaceuticals and transport. Of course, Sber considers ensuring the unequivocal security of the data exchange process and high-speed computing power to be of key importance.”

ROSATOM will contribute its research and applied competencies in one of the most complex and dynamically growing fields of modern technology. In August 2020 the Russian government approved the Quantum Computing Roadmap developed by ROSATOM and experts from the Russian Quantum Center (RQC) – the first quantum roadmap.

“Partnerships like this, allowing the partners to analyze their accumulated experience together and constantly receive new information, are necessary for the timely launch of contemporary practical solutions based on quantum technologies and for us to reach the required level of technological maturity,” said David Rafalovsky, CTO of Sberbank. “In their turn, quantum technologies are capable of changing business models in multiple areas – from AI to pharmaceuticals and transport. Of course, Sber considers ensuring the unequivocal security of the data exchange process and high-speed computing power to be of key importance. Quantum technologies have the potential to provide this.”

The organizations plan to pay particular attention to the possibility of using quantum technologies, including quantum computing, to resolve practical domestic issues. In 2017, Sberbank and the Russian Quantum Center launched a secure quantum communication line between two Moscow branches. Now it may be a question of analyzing existing market solutions, participating in consortia, joint ventures, competence centers, other alliances and partnerships, and in particular the National Quantum Laboratory consortium, established November 25, 2020. Significantly, the implementation of such projects corresponds to 2021, which has been declared the Year of Science and Technology in Russia.

“The introduction of quantum technologies will bring about a qualitative change in the Russian financial sector, making it more advanced, modern, and competitive on the global market,” said Ruslan Yunusov, head of Rosatom’s project office for quantum technologies and the National Quantum Lab. “Coordinating our actions and working together with the leading financial institution of Russia, Central, and Eastern Europe will result in synergy in the fintech industry and significantly strengthen national positions.”

The officials said that Sberbank and ROSATOM complement each other well in the field of contemporary high tech, which, of course, includes quantum technologies. The agreement creates a legal framework for the exchange of information on research and development in this area.

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