Upskilling everyone is vital for the quantum era
Quantum computing offers great promise for financial services, with the power to dramatically speed up tasks including portfolio optimisation and risk simulation. But it also poses a threat to digital security, with the potential to compromise current cryptographic methods.
Effective preparation for the quantum era will require lots of work and a workforce equipped with the right skills.
With nearly 80 per cent of major global banks already engaging with quantum technologies1, cultivating enterprise-wide quantum literacy is fast becoming a competitive necessity.
Banks that delay preparing their workforce are at risk of falling behind – in both the strength of their cybersecurity and their operational capabilities, according to benchmarking platform Evident.
Growing demand
As quantum technology in financial services transitions from theory to practical applications, demand for talent is rising sharply. The number of quantum professionals in banking has grown by 10% since August 2024 alone1.
Meanwhile, we’re seeing increasing activity among major financial regulators around quantum-safe readiness, with signs that it may soon become part of their supervisory frameworks. For large organisations, transitioning to quantum-safe systems is a major operation, requiring careful planning and specialised expertise to ensure comprehensive and timely implementation.
By prioritising enterprise-wide education and internal talent development, instead of relying solely on external recruitment, banks can reduce the risk of repeating the AI skills gap that has caught many organisations off guard.
Integrating quantum technology into banking is complex, requiring expertise from fields including physics, computer science, mathematics and financial engineering. Building broad awareness is crucial for bridging the gap between research scientists and business-focused teams. It helps everyone understand the areas that could be impacted or enhanced by quantum.
Upskilling all colleagues
At HSBC, we have rolled out Black Opal across our organisation. This interactive learning platform is designed to make quantum computing accessible to all colleagues, regardless of their technical background. It serves as the cornerstone of our quantum upskilling strategy.
In collaboration with its developers, Q-CTRL, we have built customised learning pathways, with modules tailored to specific roles and skillsets.
This targeted approach enables every colleague to start building the relevant quantum skills for their role, whether they require a basic understanding of potential applications or advanced knowledge in quantum programming. It’s just one of the reasons we have been recognised as a leading bank for quantum adoption2.
Strategic investment
Effective quantum upskilling is also about providing specialised training for specific use cases. At HSBC, we leverage the convenience of online learning alongside our in-house quantum experts to deliver targeted programmes. These include quantum defence masterclasses for cybersecurity architects, which equip them with the tools required for the quantum-safe transition.
For banks and large organisations across many sectors, achieving quantum readiness is more than just technical preparation. It is a strategic investment in future competitiveness.
By building awareness and upskilling workforces today, institutions can position themselves to harness quantum advantages as they emerge, protect against new risks and ensure they remain at the forefront of innovation in the quantum era.
1 According to benchmarking platform Evident
2 According to indexes from the Quantum Insider and Evident
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