IBM Chairman, President and CEO Ginni Rometty arrives for her keynote address at CES 2016 January 6, 2016 in Las Vegas.
IBM has teamed up with major companies including Samsung, JPMorgan, and Barclays, to develop quantum computing for commercial use, the U.S. technology giant announced Thursday.
Those firms along with nine others are working with IBM to build out quantum computing using the company’s open source software and developer tools.
Quantum computing is seen as the next generation of computing, able to solve problems that current machines can’t.
It’s still in its early stages, but IBM is hoping to become a leader in the quantum computing space by bringing large companies on board to help commercialize the technology.
JPMorgan said it will focus on quantum computing applications for the financial industry including trading strategies, portfolio optimization, asset pricing and risk analysis.
Another partner Daimler, the owner of Mercedes Benz, said it was researching how quantum computing could be used to find and develop new materials for automotive applications, and how it could help optimize manufacturing processes, fleet logistics, and driverless cars.
Samsung said it will explore use cases where the technology may impact the future of the semiconductor and electronics industry.