Allstate Prepares for Quantum Computing with Expanded Team
Insurance company Allstate is preparing for the arrival of quantum computing by investing in its development. According to an interview with The Wall Street Journal, Allstate's Chair, President and CEO Tom Wilson believes that quantum computing will eventually be a game-changer for his industry.
Allstate plans to expand its existing quantum team from 10 people to further explore the use of quantum computing for tasks such as determining insurance prices. Wilson stated in the interview that he is certain quantum computing will have an impact, but unsure when exactly it will happen.
IBM CEO Arvind Krishna made a similar prediction, stating that quantum computing will start having a measurable impact on IBM's top and bottom lines by 2028 or 2029. By the end of the 2030s, he believes it could be worth $1 trillion in value.