Quantum Computing is the use of quantum-mechanical phenomena found in elementary particles to perform computation. It is a new way of computation which will allow us to solve problems that are unsolvable by the classical computers. Computers that utilize the power of quantum mechanics could provide revolutionary breakthroughs in human health and longevity, climate change and energy production, artificial intelligence, and more. Here is why:
McKinsey’s research defines three areas of quantum technology – computing, communications, and sensing. Quantum computing (QC) is a new technology for computation, which leverages the laws of quantum mechanics to provide exponential performance improvement for some applications and to potentially enable completely new territories of computing. Quantum communications (QComms) is the secure transfer of quantum information across space. It could ensure security of communications, enabled by quantum cryptography, even in the face of unlimited (quantum) computing power. Quantum sensing (QS) is the new generation of sensors built from quantum systems. It could provide measurements of various quantities (e.g., gravity, time, electromagnetism) that are orders of magnitude more sensitive than classical sensors. By 2030, QC has an estimated market of up to $93 billion, QComms with $6 billion, and QS with $7 billion.
Solutions to those problems could change the way the world uses energy, revolutionize drug research and development, lead to discovery of new materials, optimize supply chain logistics and more - in short: The application of Quantum computing will change the world.
Quantum Computing is projected to become a $850 billion annually market by 2050 according to the Boston Consulting Group, and enterprises from industrial chemistry and materials through to finance and logistics which engage early stand to gain enormous first-mover advantages. The difficulty of gaining a deep and useful understanding of what quantum computing is and how it works poses a true strategic risk to enterprises who may otherwise be left behind.
Quantum Technology will disrupt in Chemicals & Materials. Simulation of quantum physics is limited by classical computers: simulations are small-scale, inaccurate, and heuristic. Quantum computers provide a path forward: simulations can be large-scale, chemically accurate, and exact. We expect quantum computers to be a central part of an industry-wide transformation to fully digital chemistry and material simulation platforms. Chemistry and materials simulation expected to surpass classical techniques by 2025.
Quantum Computing technology could accelerate disruption and provide a winning competitive advantage. According to IBM research, quantum simulation will enable faster and more accurate characterizations of molecular systems than existing quantum chemistry methods.
According to Google Quantum development. a useful, error-corrected quantum computer is within reach for humanity that we might be able to accomplish our goal within the decade.
According to Gartner Research: By 2023, 50% of organizations with crypto-agility projects will create pilot programs to harvest business value from quantum-safe cryptography. By 2025, nearly 40% of large enterprises will devise quantum initiatives to build management skills ahead of quantum computing (QC) opportunities. By 2025, 25% of large enterprises will deliver evolutionary advantage over (non-quantum-enabled) peers through quantum-inspired initiatives. By 2027, quantum annealers will become viable for 20% of optimization problems, driven by qubit technology advances foundational to enabling gate-model systems.
The Future of Computer-Aided Drug Discovery Is Quantum. According to Deloitte Insight research, the average cost to develop a new pharmaceutical is nearly $2.2billion. A large portion of this cost is due to the inefficiency of pre-clinical research: it takes 10,000 small molecules initially screened to yield just 10 candidates for clinical trials, and fewer than 10% of clinical trial candidates result in a new drug. Large-scale quantum computers will offer many potential improvements to this process, including more accurate computational chemistry and effect modeling. Reducing the cost of development by just 10% would translate to a customer benefit of $200 million.
According to IONQ research publications, a leading Quantum Computing manufacturer, Chemistry and many other biomedical applications will be unlocked with a full-scale fault Tolerance by 2028.
According to IBM Quantum Roadmap, Orchestrating quantum and classical is where real potential of the quantum computing power comes to the real world. The unique power of quantum computers is their ability to generate non-classical probability distributions at their outputs. In 2023 IBM will introduce Quantum Serverless to the stack and provide tools for quantum algorithm developers to sample and estimate properties of these distributions. These tools will include intelligent orchestration and the Circuit Knitting toolbox. In 2025, powerful tools for developers will be able to deploy workflows seamlessly across both quantum and classical resources at scale, without the need for deep infrastructure expertise. Finally, at the very top of the stack, IBM plans to work with the partners and wider ecosystems to build application services into software applications, empowering the widest adoption of quantum computing. Video of IBM Quantum Roadmap