Analytics Insights. The challenges and potential of quantum computing
In 2019, Google made a groundbreaking announcement - the achievement of quantum supremacy. This marked a significant milestone in the world of computing, where quantum machines showcased their ability to solve problems that were once deemed insurmountable for conventional computers.
Analytics Insights recently dove into the subject, reaching out to 555 vCTO founder and virtual CTO Vaclav Vincalek for his expertise. He highlighted quantum computers’ ability to come up with ‘probabilistic’ answers.
First off, what’s quantum computing?
Quantum computing is basically supercharged information processing. While traditional computers rely on binary bits, which can be either 0s or 1s, quantum computers utilize qubits. These qubits, short for quantum bits, are the fundamental building blocks of quantum computing. Unlike classical bits, qubits can exist in multiple states simultaneously, thanks to the strange and fascinating principles of quantum mechanics. This property gives quantum computers a tremendous advantage in certain computational tasks, potentially outperforming even the most powerful supercomputers.
But there’s a major difference in the way quantum computers supply answers, versus traditional computers.
“Unlike conventional computers, quantum computers only offer a likely response,” says 555vCTO.com founder Vaclav Vincalek.
The 30+ year tech advisor says quantum computers aren’t designed to give definitive answers.
“A quantum computer may calculate the most likely solution for cracking an encryption scheme, but it will require a classical computer to test the solution to see whether it starts breaking,” Vincalek explains further.
Influence of quantum technology on security
Quantum computing isn't all about groundbreaking achievements and limitless potential. It also poses a significant challenge to conventional encryption methods. The computing power of quantum machines threatens the effectiveness of current encryption techniques, making data security a critical concern. This is an area where IT leaders need to develop strategies and plans to adapt to this coming shift in the cybersecurity landscape.
What is the monetary value of quantum computing?
Although quantum computing is still in its developmental stages and faces many challenges, it promises to transform numerous sectors, including banking, medicine, automobiles, and artificial intelligence, in the years to come. Companies need to be proactive in their approach to quantum computing to maintain a competitive edge.
The impact of quantum computing will be far-reaching, revolutionizing various industries such as financial services, pharmaceuticals, and information sciences. The ability to perform complex computations and simulations that were once beyond the reach of classical computers will open doors to new discoveries and innovations.
Quantum computing as it is now
In its current state, quantum technology is already making significant strides in various fields. But as Vincalek has pointed out in previous articles, it’s still very much in its infancy. IBM and Daimler, for instance, used a quantum computer to simulate lithium-containing molecules, offering a glimpse of more powerful and cost-effective next-generation batteries. IBM's collaboration with JPMorgan on financial use cases highlights the growing interest in applying quantum computing to solve complex problems.
And quantum technology doesn’t limit itself to computers. It extends to everyday devices, such as mobile phones, where quantum phenomena are being harnessed to enhance security and functionality.
If quantum computing technology intrigues you, 555 vCTO advisors can help
Think your business is one that should intertwine itself with quantum computing technology? It’s a long-term commitment that requires a specialty skill set. Get in touch with 555vCTO.com advisors to get started on team planning, so that the right expertise is in place to take full advantage of quantum computing’s benefits as the technology evolves.