Despite the development of artificial intelligence (AI), solving large mathematical problems still remains challenging.
But quantum computing might tackle such complex problems in parallel with AI that classical computers cannot.
According to Fortune Business Insights, the global quantum computing market was valued at $885.4 million in 2023 and is expected to grow to $12,620.7 million by 2032.
This article tells you everything you need to know about quantum computing, what it is, how it works, why is it important and its use cases.
What is Quantum Computing?
In simple terms, quantum computing is a relatively new field of computer science which works on the principles of quantum mechanics to solve highly complex problems that classical computers are incapable of solving.
Quantum mechanics deals with the physical features of nature at the scale of atoms and subatomic particles. It provides a framework to understand and predict the behaviour of these strange particles like superposition and entanglement, which often defies typical projections. This is necessary for quantum computers to perform calculations that massively outperform classical computers.
Quantum computing has the potential to transform various industries from medicine, materials science, and artificial intelligence to cryptography.
How Quantum Computing Works?
Quantum computing uses qubits also known as quantum bits, to solve complex problems. These qubits form a fundamental unit of information in quantum computers. Unlike classical bits, which can only be 0 or 1, qubits can exist in a superposition of both states simultaneously – meaning they can exist in multiple states at the same time.
Such a unique ability for qubits to exist simultaneously allows for massive parallel processing and exponentially heightened computational power. Qubits exploit quantum concepts like superposition and entanglement, equipping them to carry out complex calculations that are way beyond the reach of classical computers. Quantum mechanics provides the framework for understanding and manipulating these quantum phenomena.
What is Meant by Applied Quantum Computing?
Applied quantum computing is an application of quantum mechanics that aims to solve real-world problems using logic to manipulate and process qubit formation. The application leverages both superposition and entanglement of quantum mechanics to achieve an outstanding computing technology.
Superposition and entanglement essentially change formations of qubits into a state of quantum coherence, enabling them to exist in multiple states simultaneously and interact in complex ways. This allows for the exploration of vast solution spaces and the execution of parallel computations, leading to major computational advantages over classical computers.
Quantum computing is the foundational technology that allows quantum computers to function by manipulating qubits while applied quantum computing is a practical application of quantum computing principles to solve real-world problems.
The latter develops quantum-based algorithms and software to optimally take advantage of the power of quantum hardware. This could include applications like drug discovery, materials science, optimization, and cryptography.
Who Invented Quantum Computing?
Richard Feynman and Paul Benioff, both theoretical physicists first proposed the idea of quantum computers. However, quantum computing as a concept became prominent because of David Deutsch in 1985. He is often referred to as the father of quantum computing.
In a research paper, David Deutsch proposed the idea of a universal quantum computer which could perform any computation which classical computers cannot. Deutsch's work built on the ideas of Feynman and Benioff. They laid the theoretical groundwork, while Deutsch formalized the idea and developed the first theoretical model of a universal quantum computer at the University of Oxford in 1985.
Why is Quantum Computing Important?
Quantum computing has increasingly become an important invention as it opens up new possibilities for solving some of the most complex mathematical problems in the world. For instance, it could potentially solve the problem of integer factorisation according to TUDelft.
TUDelft says that factorization is notoriously difficult, and the ability of quantum computers to excel at this problem over their classical counterparts has become symbolic of the supposed power of quantum information. Integer factorisation is the problem of breaking down a large number into its prime factors. While this may seem like a simple mathematical task, it becomes incredibly difficult as the numbers get larger.
The organisation added that the existence of a quantum computer large enough to break RSA encryption would have profound implications for modern technology. The technology also shows promise for various optimisation problems, machine learning, sampling and simulation and more.
Will Quantum Computing Replace AI?
While Quantum computing could enhance the capabilities of artificial intelligence, it likely will not replace it. Instead, it could work in conjunction with classical computing to solve complex problems that are currently intractable.
For instance, quantum computing algorithms can speed up training and inference processes for machine learning models. It can help with the development of more complex and smarter AI models. Additionally, quantum computers could find top solutions to complicated problems that are necessary for AI applications such as scheduling and resource allocation.
Quantum computing can also analyse huge datasets more efficiently, leading to deeper insights and better decision-making. However, quantum computing is still in the early stages of development and is challenging to access at the moment.
What is Quantum Computing Used For?
Quantum computing has use cases in multiple industries such as pharmaceuticals, finance, cybersecurity, manufacturing and even climate change.
1. Pharmaceutical
Janssen Pharmaceuticals, a Belgian pharmaceutical company collaborated with Aqemia, a French pharma tech start-up to utilise quantum physics for drug discovery. They aim to predict the potency of small molecules for specific targets, hastening the drug discovery process.
2. Finance
According to McKinsey and Company, Quantum-computing use cases in investment banking can be most readily found in portfolio optimisation and derivatives pricing. “With quantum computing, investment banking teams could create full digital twins of a bank's positions that they could use to simulate various macroconditions and pathways.”
3. Cybersecurity
EM360Tech reported a solution of quantum computing that strengthens security systems against both present and future cyber threats. Quantinuum, a quantum computing company provides this solution called Quantum Origin, the world's only source of verified quantum entropy to generate high-quality keys for digital certificates.
4. Climate change
Quantum computing can be leveraged to tackle the fight against climate change in various ways. For example, energy management like scheduling and dispatch of generation resources on the power grid or simulating large complex molecules to uncover new catalysts for carbon capture that are cheaper and more efficient than current models.
