Creative Destruction Lab Offshoot is Developing a Solution For Financial Services Leveraging Classical & Quantum ML

Image by Philipp Marquetand from Pixabay

Infallibility 

There is a great discussion going on these days about how quantum technologies can assist in the financial sector. Banks, rating agencies, tax offices, and regulators will be — when the time comes — the main benefactors of this.

Finance, in its essence, is a discipline with plenty of hard problems. Or to be more exact, with plenty of hard mathematical problems.

One of these is how to optimize a portfolio of assets to find great opportunities to make a profit while estimating the risk involved. Currently, we have powerful computers leveraging ML at hand and super intelligent individuals called quants to do this work.

But they’re not infallible.

To improve upon present applications in the industry more and more financial institutions are adapting quantum optimization and quantum ML to carry out this difficult task.

In the current quantum ecosystem, a whole host of startups are using this technology to make better financial decisions for their clients, namely CogniFrame, Jos Quantum, Multiverse Computing, Nordic Quantum Computing Group (NQCG), and QuantFi.

And there will be more, that’s guaranteed.

An alumnus of the Creative Destruction Lab’s 2017/18 Quantum Stream incubator program, Adaptive Finance Technologies (AFT) — a Toronto-based startup established in 2017 to leverage classical and quantum ML for portfolio optimization — is like the above mentioned doing some serious work in this area.

Adaptive Finance Technologies (AFT)

AFT was founded by Roman Lutsiv, Vlad Anissimov, Amine Laghaout and Edward Tang as a “unique collective of Ph.D. level experts in the field of AI and quantum computing, and business visionaries with extensive financial industry experience.”

A pioneer in quantum-enabled, Al-driven investment strategies and scalable enterprise solutions

— Adaptive Finance Technologies

The startup uses an AI-driven system that learns and adapts to evolving market dynamics with more than 450 different features and metrics per stock. With this, the user gains more insight by discovering hidden patterns and anomalies so they can exploit market inefficiencies that ultimately deliver superior results.

 

With more than a decade’s experience before starting AFT as a quantitative researcher and analyst, CEO Roman Lutsiv has a BA in mathematics from The University of Waterloo.

Vlad Anissimov is AFT’s CTO. Like his CEO, he has over ten years in financial services, with a particular focus on wealth management and capital markets. Anissimov has a BA in commerce from the University of Toronto and an MBA in strategy and finance from the Rotman School of Management.

Edward Tang, AFT’s CSO, has a passion for quantum computing and algorithms. With a Ph.D. in quantum computation from the University of Waterloo, he’s the right man to lead AFT’s science charge in quantum.

 

With partners including D-Wave Systems, Bloomberg Beta, DCVC, and S28 Capital — while not forgetting the Creative Destruction Lab Toronto’s contribution to AFT’s rise — the startup’s innovative, AI-driven financial solutions, powered by quantum, is an exciting prospect.

Based in Toronto ourselves, TQD awaits the next chapter in AFT’s story and we hope it’s a good one.

James Dargan
James Dargan
James Dargan is a contributor at The Quantum Daily. His focus is on the QC startup ecosystem and he writes articles on the space that have a tone accessible to the average reader

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