Once fully scaled, quantum computers can lead to breakthroughs on many fronts: medicine, finance, architecture, logistics.
First, it’s important to understand why quantum computers are superior to the conventional computers we’ve been using for years:
In conventional electronic devices, the memory consists of bits with only one value, either 0 or 1. In quantum computing, a quantum bit (qubit) displays both values to different degrees simultaneously. This is called quantum superposition. These ubiquitous states of each qubit are then used in complex calculations, which read as regular bits: 0 and 1.
Since qubits can store more information than regular bits, this also means that quantum computers can process larger amounts of information. With four bits, 16 possibilities are possible, but only one at a time. However, with four qubits in quantum superposition you can calculate all 16 states at once. This means that four qubits are equal to 65,500 regular bits. Every qubit added to the quantum computing system increases its power exponentially.
To put things in perspective, a top supercomputer can currently accomplish as much as a five to 20 qubit computer, but it is estimated that a 50 qubit quantum computer will be able to solve computational problems unlike any other conventional device. can dissolve in any amount of time.
This “quantum supremacy” has been achieved many times over so far. It is important to state that this does not mean that the quantum computer can beat a traditional computer in every task, but it only shines in a limited set of tasks specifically tailored to its strengths. A quantum computer also has many obstacles to overcome before it can become a mainstream device.
But once it does, its computing power will boost the science and industries that benefit from it.
Major companies working on quantum computing in their respective industries include AT&T T,
Google holding company Alphabet GOOG,
GOOGL,
IBM IBM,
and Microsoft MSFT,
Here are a few industries that can benefit the most:
Quantum Chemistry
Quantum chemistry, also called molecular quantum mechanics, is a branch of chemistry that focuses on the application of quantum mechanics to chemical systems. Here, quantum computers help model molecules, taking into account all their possible quantum states – a feat that is beyond the power of conventional computers.
That, in turn, helps us understand their properties, which is invaluable for new material and medical research.
Quantum Cryptography
Quantum cryptography, also known as quantum encryption, uses the principles of quantum mechanics to facilitate encryption and protection of encrypted data from manipulation. Taking advantage of the peculiar behavior of subatomic particles, it is possible to reliably tamper or eavesdrop (via the Quantum Key Distribution method).
Quantum encryption is also used for secure encryption key transfer, which is based on the entanglement principle. Both methods are currently available, but due to their complexity and price, only governments and institutions dealing with delicate data (particularly in China and the US) can afford them for the time being.
Quantum Financing
Quantum finance is an interdisciplinary field of research that applies theories and methods developed by quantum physicists and economists to solve financial problems. This mainly includes complex calculations such as the pricing of various financial instruments and other computational financial problems.
Some scientists argue that quantum price models offer more accuracy than classical models because they can account for market inefficiency, something that classical models ignore.
Quantum computing will also improve the analysis of large and unstructured data sets, which will improve decision-making in a variety of areas – from better-timed offers to risk assessment. Many of these calculations require a quantum computer with thousands of qubits to solve, but as things are progressing in recent times, it’s not unrealistic to see quantum computers reach this processing potential in a matter of years, rather than decades.
Quantum Artificial Intelligence
While the principles of quantum mechanics are still in the realm of conceptual research, quantum computers will achieve significantly greater speed and efficiency than what is currently possible on classical computers when running AI algorithms – this is especially true for machine learning.
Weather forecast
Current calculation models used in weather forecasting make use of dynamic variables, from air temperature, pressure and density to historical data and other factors involved in creating climate prediction models. Due to the limited processing power available, classic computers and even conventional supercomputers are the bottlenecks that limit the speed and effectiveness of forecasting calculations.
To predict extreme weather events and limit the loss of life and property, we need faster and more robust forecasting models. By harnessing the power of qubits, quantum computing is able to provide the raw processing power needed to make that happen. In addition, machine learning provided by the quantum AI can further improve these forecasting models.
Despite its rapid progress, quantum computing is still in its infancy, but it is clearly a game changer capable of solving problems previously considered insurmountable for classic computers.
This power will bring the most benefits not only to science and medicine, but also to businesses and industries where rapid processing of large data sets is paramount.
As a marketing specialist, I see a tremendous benefit to my industry, but others, especially finance and cryptography, will no doubt find the quantum cost of their decision-making processes and the quality of their end product hugely beneficial.
The real question is, who will be the first to harness this power and use quantum computing as part of their unique value proposition and competitive advantage? The race is on.