This review paper examines state-of-the-art algorithms and techniques in quantum machine learning with potential applications in finance. We discuss QML techniques in supervised learning tasks, such as Quantum Variational Classifiers, Quantum Kernel Estimation, and Quantum Neural Networks (QNNs), along with quantum generative AI techniques like Quantum Transformers and Quantum Graph Neural Networks (QGNNs). The financial applications considered include risk management, credit scoring, fraud detection, and stock price prediction. We also provide an overview of the challenges, potential, and limitations of QML, both in these specific areas and more broadly across the field. We hope that this can serve as a quick guide for data scientists, professionals in the financial sector, and enthusiasts in this area to understand why quantum computing and QML in particular could be interesting to explore in their field of expertise.
Interest-free promotions are a prevalent strategy employed by credit card lenders to attract new customers, yet the research exploring their effects on both consumers and lenders remains relatively sparse. The process of selecting an optimal promotion strategy is intricate, involving the determination of an interest-free period duration and promotion-availability window, all within the context of competing offers, fluctuating market dynamics, and complex consumer behaviour. In this paper, we introduce an agent-based model that facilitates the exploration of various credit card promotions under diverse market scenarios. Our approach, distinct from previous agent-based models, concentrates on optimising promotion strategies and is calibrated using benchmarks from the UK credit card market from 2019 to 2020, with agent properties derived from historical distributions of the UK population from roughly the same period. We validate our model against stylised facts and time-series data, thereby demonstrating the value of this technique for investigating pricing strategies and understanding credit card customer behaviour. Our experiments reveal that, in the absence of competitor promotions, lender profit is maximised by an interest-free duration of approximately 12 months while market share is maximised by offering the longest duration possible. When competitors do not offer promotions, extended promotion availability windows yield maximum profit for lenders while also maximising market share. In the context of concurrent interest-free promotions, we identify that the optimal lender strategy entails offering a more competitive interest-free period and a rapid response to competing promotional offers. Notably, a delay of three months in responding to a rival promotion corresponds to a 2.4% relative decline in income.
Removing the influence of a specified subset of training data from a machine learning model may be required to address issues such as privacy, fairness, and data quality. Retraining the model from scratch on the remaining data after removal of the subset is an effective but often infeasible option, due to its computational expense. The past few years have therefore seen several novel approaches towards efficient removal, forming the field of "machine unlearning", however, many aspects of the literature published thus far are disparate and lack consensus. In this paper, we summarise and compare seven state-of-the-art machine unlearning algorithms, consolidate definitions of core concepts used in the field, reconcile different approaches for evaluating algorithms, and discuss issues related to applying machine unlearning in practice.
Advancement of Photospheric Radius Expansion and Clocked Type-I X-Ray Burst Models with the New Mg22(α, p)Al25 Reaction Rate Determined at the Gamow Energy
J. Hu , H. Yamaguchi , Y. H. Lam , and 34 more authors
The 25Al(p, γ) 26Si reaction rate is one of the few outstanding uncertainties in modelling the contribution from novae to the galactic budget of the long-lived radioactive isotope 26Al. The rate is dominated by three key resonances in 26Si (J π = 1+, 0+ and 3+), of which only the 3+ resonance has been directly constrained. The first experiment described in this thesis used the 25Mg(d, p) reaction to measure the spectroscopic factors of the three analog states in the mirror nucleus 26Mg, including a spectroscopic factor for the 0+ state. The proton partial widths estimated from these spectroscopic factors established the 0+ state contributes .10% of the 25Al(p, γ) reaction rate, with the 3+ state dominating at higher temperatures. The upper limit extracted for the 1+ proton partial width, which disagreed with a previous (4He, 3He) study, found it only contributes to the reaction rate at low temperatures. Previous studies presented evidence for a negative parity state in 26Mg around 5.7 MeV, consistent with the angular distribution measured in the current work, which has not had an analog state in 26Si confirmed. Future work should focus on identifying such a state and further constraining the parameters of the dominant 3+ resonance. The amount of neutrons available for the weak s-process depends on the 22Ne(α, n) and 22Ne(α, γ) reaction rates, which proceed through natural-parity states of 26Mg above the alpha and neutron thresholds. The second experiment in this thesis used the 25Mg(d, p) reaction to populate states above the 26Mg alpha threshold. The shapes of the angular distributions constrained the ‘-transfers populating those states. This established the spin/parities of states at 10.82, 10.95, 11.08 and 11.11 MeV as 2+, 1−, 2+ and 2+ respectively. Combining these assignments with previous alpha-transfer studies allowed alpha partial widths to be extracted, which were used to calculate reaction rates for both reactions. Studies seeking to further reduce these rate uncertainties should focus on constraining the properties of the 10.95 and 11.11 MeV states, which dominate the reactions at temperatures whenever the 22Ne(α, n) rate overtakes that of the 22Ne(α, γ) reaction.