The exponential growth in computing power looks set to revolutionize a wide range of industries and applications across almost every aspect of modern life. Here are the most important real-world applications for quantum computing any tech-savvy individual should know.
Cybersecurity—Becoming Less Vulnerable to Threats
From virtual bank heists and huge data leaks to attacks from nation-states, the last couple of years have been pretty rough on IT security. Although organizations are implementing strong security protocols, the process can become daunting and impractical for classical computers. With the help of machine learning, quantum computing helps experts to develop various techniques to fight with these cybersecurity threats. Quantum computing can help create encryption methods, also known as quantum cryptography.
Healthcare—Research, Diagnostics, and Treatment
One of the most important uses of quantum computing is in the healthcare industry. Experts talk about huge gains in research, diagnostics, and treatment.
Research. Traditional computers are quite limited in terms of the size and complexity of molecules they can simulate and compare, an essential process in drug development. On one hand, quantum computers will allow much larger molecules to be simulated. On the other hand, researchers will be able to simulate interactions between a certain drug and all the 20,000+ proteins encoded in the human genome. Researchers believe quantum technologies can be an effective way of understanding a drug and its reactions on humans.
Diagnostics and treatment. Boosting AI capabilities means more efficient pattern recognition high-resolution MRI machines with greater detail levels. Quantum technologies could help doctors make faster and more accurate clinical diagnoses while reducing their workloads. Targeted treatments, especially cancer treatments, depend upon the ability to model and simulate complex scenarios to deliver the optimal treatment. Quantum computers would enable clinicians to run more simulations in less time, helping to minimize radiation damage to healthy tissue.
Wall Street—The Unexpected Beneficiary of Quantum Computing
One potential application for quantum computing is algorithmic trading. By applying quantum technology to perform massive and complex calculations, companies will not only be able to improve the quality of their solutions, but also reduce the time needed to develop them. The advantages of automated trading, especially for high-volume transactions, are significant. Another use is fraud detection, a process reliant upon pattern recognition, just like medical diagnostics. For example, J.P. Morgan Chase is already using Honeywell’s quantum computer with a variety of early applications.
Weather Forecasting—Mitigating the Negative Impact of Climate Change
With so many variables to consider (air pressure, temperature, and air density), accurate weather forecasts are difficult to produce. A quantum computer’s ability to crunch vast amounts of data in a short period of time could lead to improved weather system models. Machine learning using quantum computing could allow meteorologists to predict the changing weather patterns extremely fast and with excellent accuracy. Enhanced pattern recognition will make it easier for scientists to predict extreme weather events and potentially save thousands of lives. Furthermore, generating more detailed climate models will provide greater insight into climate change and the ways to mitigate its negative impact.
Logistics Optimization—A Quantum Approach
Just like weather forecasting, logistics managers have many variables to consider, such as optimal traffic routes management, fleet operations, air traffic control, freight, and distribution. Implementing machine learning powered by quantum computers can significantly optimize all supply chain decision-making processes. By analyzing large data sets at lightning speeds and applying intelligent algorithms, workers can balance demand and supply, while optimizing delivery processes at the same time.
IBM has recently reached its highest Quantum Volume to date (64), a new quantum computing milestone. IBM has made 28 quantum computers available on the IBM Cloud over the last four years, with eight systems running a Quantum Volume of 32. According to IBM, Quantum Volume is “a single number meant to encapsulate the performance of today’s quantum computers, like a classical computer’s transistor count.” IBM has a goal of doubling its devices’ Quantum Volume every year.
Just two months ago, Honeywell proudly announced that its team of scientists, engineers, and technicians had built what is currently the highest performing quantum computer available.
Due to its important real-world applications, Google, Microsoft, Honeywell, IBM, and governments around the world continue to make significant investments in quantum computers. This new technology has the potential to solve complex computational problems that cannot be solved by even the most powerful classical supercomputers. Undoubtedly, quantum computers will disrupt every industry and will transform the business world. AI machine learning will help humanity fight diseases, invent new materials, and solve health and climate problems.
