Elena Canorea
Communications Lead
According to McKinsey, the quantum computing market could grow to around $80 billion by 2035 or 2040. We are currently at a point where many qubit technologies are competing to become the basis for the first universal, faultless quantum computer, but there are still many challenges to be faced.
We look at its future prospects, its potential, and the impact it will have on individuals and businesses.
A few months ago we shared with you other articles on whether companies should prepare for quantum computing and the fundamentals around Quantum Computing.
In short, quantum computing harnesses the power of quantum mechanics to help us overcome the limitations that today’s computing world has been encountering. However, because the quantum state of a particle is a natural phenomenon, it means that it can be reproduced in many different ways.
It has the potential to transform many industries, as such computers solve problems exponentially faster and with less power consumption than traditional computers.
As a result, it will allow companies to better optimize their investment strategies, encryption, or discover new products. And some of its most widespread applications will be in cryptography, data analysis, predictions, pattern search, drug research, etc.
A key turning point in the history of quantum computing has been reached with the concept of “quantum supremacy”, which refers to the point at which a quantum computer outperforms the most powerful classical supercomputers. This achievement shows how quantum computers have the ability to tackle complicated problems ten times faster than classical computers.
In fact, in 2019, Google reached a turning point in this area by achieving quantum supremacy, indicating that the use of quantum computers for useful purposes is feasible.
No approach has yet emerged to evaluate and compare qubit technologies that can produce a perfect quantum computer. However, we did find 6 key considerations and challenges for evaluating them:
Because the industry and the technology are still at a relatively early stage of development, McKinsey has chosen the five main qubit technologies:
Despite remarkable advances, quantum computing still faces many technological hurdles that limit its applications, scalability, and reliability for the time being.
Due to their fragility, qubit interconnection, decoherence, and external noise, quantum systems are prone to errors. Therefore, there is a need to improve fault-tolerant quantum structures, qubit coherence times, and error correction methods.
On the other hand, the creation of quantum hardware (cryogenic cooling systems, control circuits, and qubit fabrication) remains a technical challenge that requires interdisciplinary cooperation and creativity.
Compared to classical computers, quantum computers are extremely susceptible to noise, as the quantum state of qubits is very fragile and any perturbation, such as a slight vibration or a change in temperature, can affect them uncontrollably, causing the stored information to be lost.
Decoherence poses a challenge in quantum computing, since, in order to avoid errors, calculations must be completed before decoherence occurs. While increasing the coherence time of a qubit is an important area of research, a popular approach to address it is the development of error-correcting codes.
While error-correcting codes are not a new concept, they become much more challenging in the quantum environment than in the classical one and can manifest themselves in phase shifts, bit shifts, or a combination of both. Furthermore, qubits cannot be replicated in the same way as classical bits, requiring much more complex correction codes.
In this process, quantum information stored in a logical qubit is protected from errors by encoding it in several physical qubits. There are now many widely used error-correction codes, each of which represents a different way of encoding quantum information, such as the Shor code, the Steane code, or the Surface code.
Scalability refers to the ability to increase the number of qubits in a quantum system to enable more complex problems to be solved.
It is a very complex process due to the difficulty of connecting a large number of qubits to create larger systems. One possible solution is the use of error correction techniques that involve creating redundancy in the system to allow for error detection and correction.
However, to be successful, these techniques require the use of additional qubits and complex algorithms, which can further complicate the scaling process.
There are different methods for building quantum computers, such as superconducting circuits, trapped ions, and topological qubits. Each method has its own difficulties, and it is not yet clear which will be the most feasible for large-scale quantum computing.
Currently, quantum computers are expensive and require very specialized environments to operate. Therefore, one of the big challenges for this technology is to make it accessible for widespread use.
The field of quantum computing requires a deep understanding of quantum mechanics, computer science, and engineering, profiles in which there is already a shortage of individual talent.
Finding professionals with expertise in all three is difficult, which may slow down the development and adoption of quantum computing technologies.
As we have discussed previously, quantum computing has the potential to revolutionize many fields, and the marriage of quantum computing and artificial intelligence is particularly promising.
Although we are still in the early stages of understanding the implementation of AI with quantum technology, numerous potential benefits and innovations can arise from this synergy, including significant advances in AI capabilities.
According to Capitol Technology University, some of the areas in which quantum computing could enhance AI include:
As for the possible challenges and the future of quantum-powered AI, they are the same as computing itself, such as scalability, error correction or software and programming.
Despite the challenges facing quantum computing, its future looks promising. Technology giants such as IBM, Google, and Microsoft, along with other research companies, are investing large sums of money in the field.
It will become a fundamental tool for scientific research, making it easier to solve problems that were previously impossible.
Researchers are making continuous progress in increasing the coherence times of qubits, reducing error rates, and developing new quantum algorithms. As a result, governments are also beginning to see the strategic importance of quantum computing, resulting in increased funding and collaborative efforts.
As the technology matures, it will be crucial to keep abreast of developments in quantum computing. It is very important to identify these use cases early on, as well as to clarify the challenges involved in managing expectations. They can be proven to work on a small scale and, as quantum computers grow in qubits, the same algorithms can be run on larger amounts of data. The growth of quantum capacity is exponential, so every computer that gets one more qubit will double its computational capacity.
At Plain Concepts we can help you prepare for this new wave of technology that will change the way we do business as we know it.
Elena Canorea
Communications Lead
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