Innovative quantum algorithm wins sustainable finance hackathon at Hanken School of Economics

The winning team included Anh Nguyen, Matti Sarjala and Tuomas Sorakivi. Anh Ngyen, who is a doctoral researcher at the Department of Finance at Hanken School of Economics, explains that the algorithm was tested on both IQM and IBM quantum computers, with the results compared against classical computing systems.

“We tested the algorithm across various industries, from flying robots delivering groceries to the financial sector. The goal is to find ways to improve companies’ financial operations and minimising CO2 emissions, among other things”, says Anh Nguyen.

Next, the team will present their idea to venture capital funds in the Helsinki area.

Anh Nguyen was the first doctoral researcher to compete in the hackathon, and she wants to encourage her fellow doctoral researchers to get involved.

“It was very exciting to work intensely with new people and solve problems in a short period of time. As a researcher, I aim to use the most modern research technologies in finance. This hackathon was a huge opportunity for me to use quantum computers, as I’m not in the industry. We need to be really open-minded since quantum is probably the next big wave in innovation after AI.”

Participants in the hackathon were challenged to explore the intersection of alternative data, quantum computing, and AI to transform decision-making in the finance sector. Seven teams competed in the hackathon during the weekend on 3 – 5 October and each team took on challenges like green transition, carbon footprint calculation, ESG solutions, and quantum computing use cases. Read more about the event here: Sustainable Finance in the Quantum Era Hackathon.

Text: Jessica Gustafsson 
Photo: Aleksi Leskinen