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  • Writer's pictureChesapeake Group

Quantum Computing – Future of Information Processing



Overview:


Quantum computing is an emerging field that promises to revolutionize computing as we know it. Corporations are looking to build a first mover advantage and lead the field in years to come.


The potential applications of quantum computing are vast, from improving scientific research in fields such as chemistry and physics, to revolutionizing industries such as finance, logistics, and telecommunications.


Redefining the limits of computing power:


Unlike classical computing, which uses bits (either 0 or 1) to represent information, quantum computing uses quantum bits, or qubits, which can exist in multiple states simultaneously, known as superposition. The ability to process vast amounts of data in parallel gives quantum computers a significant advantage over classical computers when solving certain types of problems.


As programmers write problems in the form of algorithms for classical computers to resolve, similarly quantum computers will carry out calculations based on quantum algorithms. Researchers have already identified that some quantum algorithms would be particularly suited to the enhanced capabilities of quantum computers.


Quantum simulation algorithms are also expected to deliver unprecedented results, as qubits enable researchers to handle the simulation and prediction of complex interactions between molecules in larger systems, which could lead to faster breakthroughs in fields like materials science and drug discovery.


With quantum computers capable of handling and processing much larger datasets, AI and ML applications are set to benefit hugely, with faster training times and more capable algorithms.


Large corporations are launching quantum computing programs and governments are pouring money into quantum research as quantum computers, although still far from having reached maturity, are expected to eventually usher in a whole new era of computing - one in which the hardware is no longer a constraint when resolving complex problems.


Current market landscape:


While the technology is yet to be widely adopted across businesses today, this will begin to change in the next several years with the increasing prevalence of enterprise applications.


ExxonMobil and IBM are working together to find quantum algorithms that could one day manage 50,000 merchant ships crossing the oceans each day to deliver goods, to reduce the distance and time traveled by fleets. IBM has also developed a series of experimental quantum computers and offer cloud-based access to these systems for researchers and developers.


Microsoft has been developing a quantum computing platform called Azure Quantum, which allows developers to write quantum algorithms and rum them on Microsoft’s quantum computers.


Honeywell and IonQ are developing quantum computer based on trapped ions.

Xanadu and PsiQuantum, are investing in another method that relies on photons to encode data and create qubits. Qubits can also be created out of silicon spin qubits – which Intel is focusing on – but also cold atoms or even diamonds.


Near term applications can result in new services and partners; however, mid-term applications may completely transform business models. Within one to five years, we can expect quantum simulators, control, and cryptography. Within five to 10 years, quantum computing will be enhancing traffic optimization, materials discovery, satellite communications and machine learning.


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