At Societe Generale, while promoting a diverse and inclusive environment, we are committed to providing an ecosystem that enables our women in tech to pursue their area of research while creating innovative solutions for the Bank. At the global solution centre in India (SG GSC India), Richa Kumari, one of our women technologists, submitted a paper on ‘Quantum Computing’ which has been selected to be presented at this year’s virtual Grace Hopper Celebration India (GHCI) event on 12 March.
GHCI is Asia’s largest gathering of women technologists which brings together a thriving community of women tech experts to learn and engage in a creative and constructive environment while enabling organisations to foster a more inclusive culture.
Richa sat down for a quick chat, ahead of the event, about her area of focus, its application in banking and support from Societe Generale to pursue her topic of choice.
Congratulations on your paper being shortlisted by GHCI. Can you share with us, briefly, the topic you will be presenting on?
Thank you so much! I submitted my paper on ‘Quantum Computing’, touted to be among the top 15 emerging technologies, has been shortlisted by GHCI. This technology works based on the old concept of quantum physics i.e. superposition, entanglement and interference. I have been invited to address the workshop at the event to explore – ‘How Quantum can be used to create algorithms for business needs for fast processing’. I have tried to cover some important concepts in my paper with hands-on experience using an open source tool to raise awareness and adapt quantum computing technology for creating innovative solutions. Key points covered in my paper include
- Key components of Quantum and its features to apply to solve business problems
- Use of different principles of Quantum separately to create new algorithms
- Ability to analyse and implement Quantum algorithms with different business use cases like expedite and secure the financial transaction and exponential growth problem
A quantum computer can do a computation in just 200 seconds; the world’s fastest supercomputer would have needed 10,000 years to solve the same problem.
– GOOGLE
How can quantum computing be applied to the banking industry? What are the different business areas where this emerging tech will significantly ease processes while obtaining key results?
Quantum computing is not going to replace classical computing. It is an emerging technology that can solve complex problems well beyond the capability of the classical system.
Nowadays, the banking industry is also adopting this technology. Some banks have already started investing in Quantum Computing technology to resolve key issues:
- To speed up intensive pricing calculations
- Simulate the future value of financial product
- Optimise transaction settlement process
Quantum computing can be used by banks and financial institutions to solve complex computational problems like pricing, trading optimisation, fraud detection, KYC processes, data security, risk profiling, financial forecasting to speed up business, etc.
At the GHCI tech workshop on 12 March, I will make a presentation along with a use case discussion and hands-on experience during the 80-minute session.
That’s great! What about the journey of presenting your paper at GHCI – can you share an inside view of how it happens at Societe Generale?
Firstly, I would like to thank the Women in Technology (WIT) team (an initiative by the Diversity and Inclusion stream at SG GSC India) and my team for supporting me during the overall GHCI selection process. I thoroughly studied multiple GHCI abstract papers and sought assistance from the WIT team and my managers to review my paper before submission. When required, they even helped me find a mentor from different business lines for an assessment.
Over the years, the global solution centre in India has been promoting women tech enthusiasts to engage in research around emerging technologies, encouraging us to submit our research papers and participate in key industry forums. I also had the opportunity to attend the GHCI conference from Societe Generale in 2019, a life-changing moment, motivating me to work on an important tech topic and present at the conference this year.
Thank you, Richa and congratulations once again.
Societe Generale wishes Richa good luck to scale even greater heights with invaluable contributions to the world of tech.
