Pritzker Taps IBM, Discover in Bid for Federal Quantum Funds

Firms plan to use tech to fight credit-card, identity fraud
Illinois wants to win $70 million from Biden Tech Hubs program

Laser heads and laser controllers at the quantum computing lab inside the University of Chicago’s Eckhardt Research Center.Photographer: Taylor Glascock/Bloomberg

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By Isis Almeida

June 18, 2024 at 2:50 PM UTC

This article is for subscribers only.

Illinois Governor J.B. Pritzker has turned to a consortium that includes International Business Machines Corp. and Discover Financial Services to help win federal funds to develop quantum technology.

The companies will work together with Boston Consulting Group and P33, a nonprofit started by the governor’s sister and former Secretary of Commerce Penny Pritzker, to develop quantum tools to fight financial fraud. The plan is part of a bid to win $70 million from President Joe Biden’s Tech Hubs program established as part of the 2022 Chips and Science Act.