The Limitless World of Quantum Computing
Quantum computers process information in a way that is different from that of classical computers. Quantum computing focuses on the principles of quantum theory, which deals with modern physics. In order to perform data operations, quantum computing uses quantum phenomena, such as superposition, quantum bits, and entanglement. This usage of quantum phenomena allows quantum computing to perform extremely complicated tasks with more ease.
Although still in its infancy, quantum computing is getting prominence across industries and market giants. As per a recent analysis by Research Dive, the global quantum computing market is envisioned to surpass a revenue of $667.3 million towards the end of 2027.
Classical computers function on binary bits. In simple terms, they process the information in the form of ones or zeroes. Quantum computers, on the contrary, transfer information by quantum bits, or qubits, which act either as one or zero or both at the same time.
Different Applications of Quantum Computing
1. Cyber Security & Cryptography
In recent years, cyber-attacks have become more debilitating and more sophisticated throughout the world. Online security spaces across the global village have become more vulnerable since the trend of remote work has risen. People today are dependent on digital platforms and technology to cope with the non-stop race of achievement and success, which has made us more vulnerable to cyber threats everywhere.
Organizations are implementing the best state-of-the-art security framework to minimize the risk of cyber-attack or any types of security breach. The lag of classical computers to identify and mitigate cyber attackers is the primary reason behind the continued concern regarding cyber security. Quantum computers are expected to be capable of bringing solutions to the problems a classical computer can’t. For instance, these computers can solve the algorithms behind encryption keys that protect recorded data and the infrastructure of the Internet. Most of the encryption used in systems nowadays is based on mathematical formulas, which can’t possibly be decoded by age-old computers.
Peter Shor innovated a quantum algorithm a few years back, which is referred to as Shor’s algorithm. This algorithm helps in factoring large numbers way more promptly than a classical computer. And that was just the beginning. The scientists and experts are focusing on the development of new quantum computers that can progressively factor larger numbers.
2. Financial Modeling
Financial institutes such as banks and insurance companies perform massive and complex operations on a regular basis. To achieve the best results, institutes depend on the Monte Carlo simulations technique on regular computers, resulting in consumption of large amounts of time. Quantum technology, instead, can help in performing these intricate and huge calculations, which improve the quality of solutions and reduce the time required.
The main benefit of financial institutions using quantum computing is the capability of a more effective scrutiny of large and unstructured databases. It can also help financial institutes to enhance customer service by reducing time and making smarter decisions while offering the customer a big-time deal.
3. Weather Forecasting
The analysis of weather conditions by classic computers takes a really long time. However, with the outstanding properties of a quantum computer and its ability to process a huge amount of data within a relatively small period, the weather scientists are able to forecast the changing patterns of climate in real-time with outstanding level of accuracy.
Weather predictions often get difficult because of different variables such as temperature, air density, and air pressure. With the help of quantum machine learning, the weather pattern recognition process is improved, and scientists can predict extreme weather conditions such as tsunamis, cyclones, or earthquakes beforehand giving the government enough time to prepare and save millions of lives. Computers with advanced quantum technology help meteorologists in analyzing and generating more accurate and effective climate infrastructures so that the challenges brought by climate change can be mitigated at the earliest.
Impact of Covid-19 on the Quantum Computing Industry
Unlike most of the industries, the quantum computing industry has been spared from the negative effect of the pandemic. This is because most of the tech companies are continuing their research remotely during the pandemic.
Even during the pandemic, market players continued to expand their cloud services.
- In March 2020, D-Wave Systems, a global leader in quantum computing, offered quantum computers at free of cost to researchers who are working on drug development or on any other essential research related to Covid-19.
- In July 2020, D-Wave Systems Inc., a global leader in quantum computing systems, software, and services, announced its topographical extension of the Leap™ quantum cloud service to countries Australia and India.
- In March 2021, Cambridge Quantum Computing (CQC), an independent quantum computing company, launched its latest version of tket (pronounced “ticket”), a high-performance quantum software development kit (SDK).
Apart from these developments by key players, governments of developed nations are offering heavy investments in the research and development of quantum computers for drug discovery. These are some of the major factors that will help the market to sustain the growth even after the pandemic.
Looking Forward to a Quantum Future
Quantum computing has limitless potential to transform and elevate the world towards a miraculous future. Experts and brightest scientists of our time are focusing on research and innovations to unleash its hidden potential and refurbish the world in an unexpected way. If the technology keeps developing and flourishing at the same fast pace, the world will get to experience the wonders of quantum computing in a future that is not so far away.
About the author
Upama Goswami is a creative writer, editor, aspiring poet, and life-long learner of philosophy, literature, technology, and all things interesting. Her works have been published in various online publications. Upama is quite creative in her craft and can engage her audience with a compelling style of storytelling. She loves to paint, travel, explore different niches of performing arts, watch movies, and learn new languages in her free time.
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