Why Is Quantum Computing Important and Its Impact on Society

Quantum computing is a game-changer, and its importance can't be overstated. With the ability to process vast amounts of complex data exponentially faster than classical computers, it's poised to revolutionize industries and transform the way we live.

Quantum computing has the potential to break complex encryption codes, making it a crucial tool for cybersecurity. This is particularly significant in today's digital landscape, where encryption is used to protect sensitive information.

The impact of quantum computing on society will be far-reaching, with applications in fields such as medicine, finance, and climate modeling.

Quantum computing promises to revolutionize several industry verticals, including medicine, machine learning, artificial intelligence, cryptography, finance, etc., over the coming decade.

The problems faced by earthlings today are far more complicated than what advanced tech can address, with some examples including modern cybersecurity problems, optimization problems, and protein modeling. These complex problems would take centuries for today's supercomputers to solve.

The National Quantum Initiative, launched by the U.S. government in 2019, focuses on broadening the quantum computing field and allocated $1.2 billion for its promotion. China is also investing heavily in quantum computing, allocating $10 billion for the 'National Laboratory for Quantum Information Sciences.'

Quantum computers will likely deliver tremendous speed-ups for only specific types of problems, particularly those related to optimization, which play key roles in everything from defense to financial trading.

Quantum computing is a game-changer because it's based on a fundamentally different way of processing information than classical computers. This is made possible by the use of quantum bits, or qubits, which can store zeros and ones simultaneously.

Qubits are the building blocks of quantum computing, and they can represent any combination of both zero and one. This is known as superposition, and it's a key feature of quantum states. Qubits can also interact with each other, which is known as entanglement. Entanglement allows qubits to scale exponentially, giving quantum computers much more power than classical computers.

A quantum computer can explore many paths in parallel through superposition, whereas a classical computer must conduct a new calculation every time a variable changes. This means that quantum computers can solve certain problems much faster than classical computers.

Computing is a fundamental part of our lives, from the websites we visit to the apps we use. Classical computers rely on bits, which can be either 0 or 1, representing the on and off positions.

These bits are the fundamental units of every digital device, and they're incredibly convenient to use. However, they don't reveal the full nature of our universe, which is governed by uncertainty.

Quantum mechanics, a science that decoded the sub-atomic world, laid the foundation for physics, chemistry, and biology. It discovered that physical laws don't apply at the sub-atomic level and are distinctly different from the ones we observe daily.

Today's computers can't process this uncertainty, creating a computing void. This is where quantum computing comes in, a technology that observes the behavioral pattern of matter and energy at the quantum level.

Quantum computing uses the principles of quantum mechanics, such as entanglement, superposition, and interference, to process and manipulate data. It's based on physical laws that govern the subatomic world, where elementary particles can simultaneously be in several states and places.

IBM's first commercial quantum computer was launched in January 2019, marking a significant milestone in this field. Google also made progress in quantum computing, developing a machine that could solve a complex problem in 200 seconds, which would take around 10k years for the world's fastest supercomputer to compute.

Computing works differently on quantum computers compared to classical computers. Quantum computers use quantum bits, or qubits, which can store zeros and ones simultaneously, a property known as superposition.

Classical computers, on the other hand, use bits that can only be in one of two states: 0 or 1. This is because classical computers rely on transistors to process information, whereas quantum computers use qubits that can exist in multiple states at the same time.

Quantum computers can explore many paths in parallel through superposition, allowing them to solve problems much faster than classical computers. This is because qubits can represent any combination of both zero and one simultaneously.

Here are the key differences between qubits and classical bits:

Quantum computers use two main principles of quantum mechanics: superposition and entanglement. Superposition allows qubits to exist in multiple states at the same time, while entanglement allows qubits to be connected in such a way that the state of one qubit affects the state of the other.

Entanglement is a phenomenon in which quantum entities are created and/or manipulated such that none of them can be described without referencing the others. This means that when qubits are entangled, any change to one qubit will immediately affect the other qubits.

Quantum computers can use entanglement to perform computations faster than classical computers. For example, a 60-qubit computer can evaluate 260 states concurrently when qubits are entangled.

Quantum computers are particularly useful for solving complex problems that are difficult or impossible for classical computers to solve. These problems often involve non-linear data and require the ability to process multiple possibilities simultaneously.

Quantum computers can be used to solve a wide range of problems, from optimizing energy usage to modeling complex systems like protein structures. They have the potential to revolutionize many fields, from medicine to finance.

Quantum computing has opened up opportunities across several industries, from pharmaceuticals to finance, and aerospace. It's transforming the way we approach complex problems and making breakthroughs in various fields.

Classical computers are great for simple calculations, but they can't handle complex problems that require multiple variables. Quantum computers, on the other hand, can work with many variables simultaneously, making them ideal for complex problems.

One of the key applications of quantum computing is in the field of pharmaceuticals. Quantum computers can model complex molecules, which may eventually help reduce development time for new drugs. This is because each atom interacts with other atoms in complex ways, making it difficult for classical computers to provide accurate simulations.

Quantum computers can also be used in finance and logistics to solve multivariable problems. They can narrow the range of possible solutions, helping companies reach the best solution faster. This is already being used in some industries, where quantum computers are being used alongside classical computers to solve complex problems.

Here are four fundamental capabilities of quantum computers that differentiate them from classical computers:

These capabilities are already being used in various industries, and as quantum computing power advances, we can expect to see even more innovative applications.

Quantum computers are expected to become available in the next few years, with major players and start-ups increasing the number of qubits their computers can handle.

Progress in quantum computing will be slow, with 72% of experts believing a fully fault-tolerant quantum computer will be achieved by 2035, while 28% think it won't happen until 2040 or later.

Businesses will start to derive value from quantum computing before then, with some receiving quantum services via the cloud, a service already offered by several major computing companies.

Computers have been available to the general public since the 1970s, with the first personal computer, the Altair 8800, being released in 1975.

The first commercial computers were available in the 1950s, but they were extremely expensive and only accessible to large organizations and governments.

The cost of computers decreased dramatically in the 1980s, making them more affordable for the average consumer.

Quantum computers will become more available over the next few years, with major players and start-ups increasing the number of qubits and improving the technology's functioning.

Progress in quantum computing is expected to be slow, with 72% of experts believing a fully fault-tolerant quantum computer will be achieved by 2035.

Businesses will start to derive value from quantum computing before then, receiving quantum services via the cloud from major computing companies that have already announced their quantum cloud offerings.

Companies will initially use quantum computing alongside classical computing to solve multivariable problems, such as finance or logistics issues.

Quantum computers can narrow the range of possible solutions, helping companies reach the best solution faster.

Quantum computing has the potential to revolutionize various industries by leveraging its four fundamental capabilities: quantum simulation, optimization and search, quantum AI, and prime factorization.

In the pharmaceutical industry, quantum computing can model complex molecules, enabling faster development of new drugs and potentially transformative cures. This could be a game-changer for companies like Ford, GM, and Volkswagen, which are already using AI to teach cars to make crucial driving decisions.

Quantum computers can process vast amounts of data in ways existing computers can't, making it possible to create a fully connected, intelligent, and environmentally friendly mobility ecosystem. This could result in significant savings on existing production processes in the chemicals industry, and even enable the replacement of petrochemicals with more sustainable feedstock.

The automotive industry could benefit from quantum computing in R&D, product design, supply chain management, production, and mobility and traffic management. For example, quantum computing could be applied to decrease manufacturing costs by optimizing complex multirobot processes.

Quantum computing use cases in finance are slightly further in the future, but the long-term promise of quantum computing in finance lies in portfolio and risk management. By the time a fault-tolerant quantum computer is available, we estimate that the use cases in finance could create $622 billion in value.

Here are the five industries that likely stand to gain the most from quantum computing:

Quantum computing is just one part of the quantum puzzle, and there are other technologies that could have a huge impact on our daily lives.

Quantum communication, or QComms, will enable strong encryption protocols that could greatly increase the security of sensitive information. This is crucial for protecting our personal data and sensitive information from cyber threats.

Quantum sensing, or QS, allows for more accurate measurements than ever before, including of physical properties like temperature, magnetic fields, and rotation. This technology has the potential to revolutionize industries such as healthcare and manufacturing.

The markets for QComms and QS are currently smaller than the market for quantum computing, but McKinsey expects both to attract serious interest and funding in the future.

Here are some examples of the benefits of QComms and QS:

By 2030, QS and QComms could generate $13 billion in revenues, making them a significant player in the quantum technology market.

Quantum computers have the potential to revolutionize computation by making certain types of classically intractable problems solvable.

Great progress is underway, with a few large companies and small start-ups now having functioning non-error-corrected quantum computers composed of several tens of qubits.

These quantum computers are even accessible to the public through the cloud, making it possible for anyone to experiment with quantum computing.

Quantum simulators are also making strides in fields like molecular energetics and many-body physics.

A field focused on near-term applications of quantum computers is starting to burgeon as small systems come online.

This progress may make it possible to actualize some of the benefits and insights of quantum computation long before a large-scale, error-corrected quantum computer is complete.