IEEE published paper on detecting payment fraud with quantum machine learning

Quantum Machine Learning could improve payment fraud detection and increase resilience of the banking sector.

The Institute of Electrical and Electronics Engineers has published a paper exploring payment fraud detection with quantum machine learning. Quantum machine learning (QML) is an active field of research that takes advantage of the capabilities of both quantum computers and machine learning techniques.

The paper names different examples of how quantum computing can be used for anomaly detection to train models, enhance machine learning models, such as quantum support vector machines (QSVMs), quantum classifiers, and quantum neural networks. It presents an end-to-end application of a QSVM algorithm using the IBM Safer Payments and IBM Quantum Computers via the Qiskit software stack.