Quantum Computing – A Game-Changing Tech Investors Are Excited About
Quantum computing, as one of the quickest routes to real-world applications, is garnering massive attention among businesses and investors. The future potential of qubits (quantum bits) based devices in different industries is anticipating significant revolutions ahead.
According to the IDC survey report 2021, “the market size of quantum computing is anticipated to hit $1.76 billion by 2026 from $472 million in 2021 and at a CAGR of 30.2% during this period.”
The world’s most prominent organizations invest in quantum computing programs, including IBM, Accenture, Google, Honeywell, Intel, etc. The main aim is to remove the hardware constraint to resolve complex problems. It means we are about to move into the era of advanced computing in which the required calculations could be achieved in minutes and even seconds that would otherwise take years by classical systems.
Quantum Computing Use Cases:
From discovering new medications and simulating more efficient materials to weather and stock predictions, the significance of this technology for businesses is potentially huge. Here are four use cases that world’s biggest companies are exploring and that could radically revolutionize the game across all walks of life.
Predicting Climate Changes
Even from modern supercomputers, weather forecasts could be disappointingly inaccurate because a climatic event, particularly with a more extended range, might manifest itself. In this situation, the classical systems cannot make precise predictions because they cannot handle and compute all relevant data.
Quantum computing programs can help cope with climate changes and better prepare for natural disasters. For example, they can help model how different environmental factors converge to create a major heatwave, cyclone, etc.
Combating climate change through predictive modeling is possible with quantum computers because they are capable of simulating and predicting the behavior of all of the particle interactions occurring within a molecule, all at the same time. Moreover, they can virtually analyze all relevant data for accurate weather forecasts and support climate-change research.
Improving Traffic Efficiency
The overall traffic state and congestion are getting worst with time. Quantum computing technology can be leveraged to improve traffic flow, efficiency, and safety. It can help optimize traffic management in the cities, thereby leveling the flow of the vehicles at any time of the day to avoid traffic congestion at busy intersections.
Again, this is the problem that conventional computing systems find hard to solve. Moreover, with the varying and increased numbers of the variables (time of the day, number of traffic signals, the volume of vehicles, etc.), the possibilities of computational requirements to be calculated by the classical device also increases, making it difficult for these devices to reach the most optimal outcome such as efficient signaling time.
On the other hand, you can access multiple scenarios at once using quantum computing technology, and it can help reach the best solution quickly. Moreover, the quantum-inspired algorithms aim at reducing traffic congestion in simulated city environments. As a result, it will help decrease carbon emissions and inefficient idle time besides getting rid of frustrating driving experiences.
Finding New Cures
Molecular simulation is a field of science that plays a significant role in discovering new medications. It is based on the model created with the particles interacting inside a molecule and creates a configuration capable of fighting against disease. Now, these interactions are too complex in terms of having multiple shapes and different forms. It means it requires massive amounts of intricate calculations to predict the behavior of that particular molecule accurately.
These complex structures and related calculations are manually impossible. And, the size and difficulty level of this problem is also beyond the scope of conventional computing devices. For example, do you know classical computers can take billions of years to model a molecule with only tens of atoms? Yes, this is so true. Therefore, it takes so long to discover new drugs because scientists depend on traditional systems and adopt a trial-and-error approach for testing thousands of molecules against the target disease. And, the chances of finding a successful match are pretty rare.
In contrast, quantum computation is expected to perform this molecular simulation problem quickly within a few minutes. This is because these systems are designed in a way that they can rapidly do numerous calculations at once. It means that their computing algorithms are designed to simulate all complex interactions at the particles level, making up the molecules. As a result, these molecular simulations enable medical scientists to rapidly and accurately find suitable candidates to discover life-saving drugs successfully.
Protecting sensitive data is one of the cornerstones of surviving in digital transformation, which significantly relies on a massive amount of big data. Modern cryptography with high-end encryption algorithms depends on the security keys. The data can be accessed and encoded by those having these keys. No other person can decrypt the message.
However, this is not a fully secured approach because hackers with powerful computers can intercept or predict the key generated by classical security algorithms. This is mainly because despite being technically advanced, these algorithms are deterministic; same output for the given input or same initial state. Furthermore, it has zero randomnesses for developing the system’s future state, which means hackers can easily predict the outcome from the provided starting condition.
Well, this is not a near-term risk for data protection. However, with the improved hardware, the data security experts keep warning about the need for more secure cryptography for protecting data in the future. The most controlling way is to generate illogical and random security keys, making it impossible for cyber attackers to guess mathematically.
This way of strengthening the keys depends on randomness, which is a vital part of quantum behavior. For example, the particles or qubits structuring the quantum processor behave in entirely unpredictable ways. This approach can be used to build complex and stronger cryptography keys that cannot be reverse-engineered even through the most powerful supercomputers.
From drug discovery and protecting sensitive data to climate change, quantum computing is expected to be the most transformative solution to all types of business, cryptography, and optimization problems despite being at an early stage. However, the application of quantum computers is not limited to these use cases only. It can also be used in picking stocks, language processing, supporting banking and finance activities. For this reason, investors are showing great interest in this revolutionary technology, and governments are also investing in quantum research.
In brief, quantum computers are a game-changer for all walks of life with improved results than classic computers.
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