Quantum Evolution — Recent Progress
One thing any outsider with a panoramic view would see entering the world of quantum computing is the variety of technologies, questions of hype vs over-hype and the pace of the progress in quantum research and breakthroughs. Universities, research labs and corporations are pumping out new research on a daily basis about memory chips, qubit stability, temperature variations, energy efficiency, fidelity, reliability, cost, let alone the promises of advantage or supremacy over traditional computers. How does one make sense of it all?
In the span of one article, that’s a tall order. (Sure, you can read my book “Quantum Boost: Using Quantum Computing to Supercharge Your Business” from Amazon, to get that panoramic view within just 250 pages). Yet we’ll give it a whirl.
Business decision-makers need to understand first and foremost that the quantum technology is evolving, and quickly. To be sure, quantum vendors have already made practical in-roads (consider D-Wave, ID Quantique, and Cambridge Quantum Computing to name just a few) where customers are benefitting from faster processing, better optimization and simulation results, new security paradigms and more.
The CEO of The Quantum Daily recently posed a significantly relevant question on one of my LinkedIn posts around quantum hype that decision-makers need to be aware of. In fact, he issued a survey to gain greater insights from industry experts and enthusiasts — it’s results should be enlightening. Gartner, the global research and consulting firm, produces an annual Hype Cycle chart for all types of technology — quantum remains in the early stages of technology maturity (in fact, at the peak of inflated expectations) according to Gartner.
The quantum industry is far from static. The current generation of quantum computers, called NISQ or Noisy Intermediate Scale Quantum computers lie in front of the ultimate goal of Universal Fault Tolerant (UFT) Quantum computers. UFT computers occur where “the quantum logic gates used in the design of a quantum computer should be both universal, meaning arbitrary quantum computations can be performed, and fault-tolerant, meaning the gates keep errors from cascading out of control.” With at least 10 different leading quantum computing types available on the market today, dominance does not yet exist and convergence appears a long way away. Photonics (light-based), nitrogen vacancy diamonds, trapped ion, superconducting, annealing and the list of quantum computers goes on. Some are more effective at solving certain problems than others.
Waiting however is not a viable option for those planning on future success. At a minimum, business leaders/decision-makers need to understand the foundations and capabilities of the technology, compounded by its evolution. What’s driving this interest in quantum computing? Tangible returns. Faster development times. Greater efficiency. Vastly greater amounts of data to cope with. Security of that data. The ability to address more complex problems that traditional computers cannot. The risk of falling behind the competition, some of which may not even exist yet. Many of the advantages of artificial intelligence in the last decade pose equal opportunities for quantum computing. According to Owen Rogers, Research Director at 451 Research, “the majority [of companies surveyed] (81%) have use cases in mind for where quantum computing could make an impact”.
I read a dozen articles a day related to quantum computing, and at least one contains a step forward, if not a breakthrough, in quantum technology. The following are just a small sample of the progress I’ve written about in just the last 7 days.
Technology Progress:
Specially created memory chip extends photon qubits life at room temp (University of Copenhagen)
One Need Look No Further than Nano-Lit Technologies For Practical Applications of Quantum Dots — Exciting opportunities to leverage quantum technology for greener energy use in lighting.
Tired of Road Traffic? You may be Airborne on a Future Taxi-Ride Because of Quantum Computing — The Quantum Daily article on Sumitomo Corporation and partners places transportation squarely in the quantum crosshairs.
Institute for Quantum Computing (IQC) at University of Waterloo Pioneering in Hybrid Computing Without Gates — Companies who expect to combine their classical computing power with the advantages of quantum computing should look to the research being led by IQC.
600 Km Achieved by Toshiba for Quantum Communication — Overcoming traditional instability challenges over long distances, Toshiba Corporation used Dual Band Stabilisation. The quantum internet is one step closer to reality.
Quantum Goes Compact — Thanks to the EU Flagship Program and the University of Innsbruck, data center server rack compatible, ion trap #quantumcomputers are being developed. “By next year, we want to be able to provide a device with up to 50 individually controllable quantum bits,” says the University, having 24 fully functional qubits today.
Quantum Biomimetics & Artificial Life — Quantum Madrid Meetup today featured Dr. Lucas Lamata of University of Sevilla, Spain. Biomimetics refers to simulating and emulating biological systems in relation to quantum systems with some unexpected results.
Investment Progress:
Global quantum technology industry estimates are staggering in size and scope with a broad geographic dispersion — so wherever you are, start thinking quantum. The Worldwide Quantum Technology Industry will Reach $31.57 Billion by 2026 — North America to be the Biggest Region. Quantum computing will lead the market at $14.25 billion by 2026 and 38.4% CAGR. (PRNewswire).
Surge in Investment & Focus on Practical Applications — The quantum technology ecosystem is growing and changing daily. According to The Quantum Daily’s latest report, “Data show that about $600 million (US) in new private capital flowed into quantum startups during the quarter. That figure is more than doubled to $1.3 billion (US) in total private capital, including special acquisition company (SPAC) funding, year-to-date.” TQD also argues that while game-changing breakthroughs are absent this quarter, groups are active on the practical side of quantum.
C12, Pasqal, Numerous Other Quantum Companies Attracting Large Investments — 2021 appears to be a banner year for quantum technology investments around the world. Reports from The Swiss Quantum Hub, The Quantum Daily and The Quantum Hubs consistently sharing new funding.
Conclusion
Hype or no hype, there’s enough evidence for business leaders to take this technology seriously. Get the full story by reading “Quantum Boost: Using Quantum Computing to Supercharge Your Business” available for Amazon today.
Copyright 2021 Aquitaine Innovation Advisors
Brian Lenahan is the author of four Amazon-published books on artificial intelligence including the Bestseller “Artificial Intelligence: Foundations for Business Leaders and Consultants”. He is a former executive in a Top 10 North American bank, a University Instructor, and mentors innovative companies in the Halton and Hamilton areas. Brian’s training in quantum computers comes from CERN/University of Oviedo, and Technische Universiteit Delft, and he writes extensively on artificial intelligence and quantum computing.
Email: ceo@aquitaineinnovationadvisors.com
Aquitaine Innovation Advisors: www.aquitaineinnovationadvisors.com
LinkedIn: https://www.linkedin.com/in/brian-lenahan-innovation/
