Quantum computing has evolved from theoretical speculation to practical application, as the technology is being integrated into more real-world applications. The rise of generative AI, which demands substantial computing power, positions quantum computing as a critical technology to address new computational challenges, according to Ellie Brown, research analyst at 451 Research, a part of S&P Global Market Intelligence.
The quantum leap
Unlike classical computing which uses bits—0 or 1—as the basic unit of data, quantum computing uses qubit, which can be both 0 and 1 at the same time. This ability to exist in multiple states at once is known as superposition.
The quantum computing field is comprised of hardware vendors building the quantum computer sets, as well as software vendors specializing in quantum-specific developer tools, and Quantum-computing-as-a-service (QCaaS) providers that sell leased access to quantum computers, usually via cloud.
Faster than speed of light
Qubits can be transmitted at faster rates than existing telecommunications infrastructure, surpassing the speed of light. Early versions of quantum internet using quantum repeaters are in development. An interesting aspect of quantum communication is quantum key distribution, which enables detection of potential eavesdropping.
The advent of more potent quantum computers has spurred efforts to create quantum-resistant algorithms to safeguard against advanced computational abilities.
Quantum sensors
Vendors are also using quantum mechanical principles to create more accurate sensing technology. Some organizations in this space are entering the sensor market as an initial source of income, producing sensors used in geological and space navigation, as well as environmental sensors for the oil and gas sector, and autonomous vehicles.
Early adopters
Key vendors in both the hardware and software components of quantum computing include cloud players such as Microsoft Azure, Google Cloud, AWS a, IBM, as well as D-Wave and Rigetti.
Among the hardware vendors include Alice & Bob, Atom Computing, Diraq, Infleqtion, Intel, IonQ, Orca Computing, Oxford Quantum Circuits, PASQAL, PsiQuantum, Quantinuum, QuEra. The software vendors are 1Qbit, Classiq, Multiverse Computing, QCWare and Zapata AI.
Use cases
Quantum computing is now in the “era of quantum utility,” with practical applications across multiple industries including but not limited to:
- Finance – Financial institutions are leveraging quantum computing for optimization and risk analysis.
- Chemistry and pharmaceuticals – In the chemistry and pharmaceutical sectors, quantum computing is revolutionizing molecular simulation and drug discovery, such as the partnership with 1QBit, Accenture Labs and Biogen.
- Sustainability – Sustainability efforts are also benefiting from quantum computing through enhanced climate modeling and the development of eco-friendly materials.
- Communication and security – Communication security is a critical application, with the development of quantum-resistant encryption to safeguard against future quantum threats, as seen with Apple’s PQ3 encryption for iMessage.
- Artificial Intelligence (AI) and other technologies –The synergy between quantum computing and AI is creating new tools, such as Microsoft’s Azure Quantum Copilot, which supports users in various tasks and has contributed to the discovery of innovative materials for batteries.
Challenges and outlook
While quantum computing is advancing, challenges in scaling and consistency are to be addressed. Current quantum computers operate around 1,000 qubits, far from the future’s needs. IBM plans a 100,000-qubit system by 2033.
Hybrid models combining quantum and classical computing are being developed. Effective quantum computing requires maintaining qubit coherence and correcting errors, with IBM targeting error correction by 2029. Additionally, the development of accessible quantum programming tools is crucial due to expertise shortage.
Cloud Maturity Brings Organizational IT Change
Want insights on cloud computing trends delivered to your inbox? Join the 451 Alliance.
