Quantum Ready: The State of Quantum Computing in 2021
Four Part Series: Part 1 — The Overview
In my experience with the evolution of Artificial Intelligence, business leaders tried to implement AI as any other technology and the majority of projects failed. The black box, job insecurity, bias, people challenges and hype were all part of the AI reality. Quantum computing is maturing even faster than AI (the speed at which quantum breakthroughs are taking place), so business leaders need to be prepared today for this complex technology.
‘Quantum computing’ phrase searches have moved little over the past 5 years, yet in the last 12 months, searches for ‘quantum computing stocks’ have risen 500%, for ‘bitcoin quantum computing’ 250% and ‘quantum computing companies 180%.
In terms of media coverage, quantum computing saw a 64% increase in 2020. Headlines such as; “Google’s supremacy,” “progress in IBM’s quantum volume”; “leaps in D-Wave Advantage qubits to 5,000”; “China’s photonic advances,”; and “Cambridge Quantum Computing (UK) receives the largest funding for a software firm” Every day there is a new development in quantum computing.
So what is the Quantum World doing in 2021?
· growing a standards-based quantum community
· making quantum more widely available to diverse groups of users
· providing learning opportunities online
· Combining classical and quantum technologies seamlessly
· Broadening the use case applications
· Increasing number and kind of developers
· Offering open source (like the Unitary Fund)
· Offering cloud-native deployment
· Improving security through quantum cryptography
· Developing Quantum Ethics for things like military and human DNA applications
· Doubling of participants at Q2B 2020
· More quantum conferences like Quantum Business Europe
According to an ITProPortal September 2020 article and a 451 Research study the majority of “decision-makers plan to harness quantum computing in the near future.” One Gartner representative says“by 2023, 20% of organisations will be budgeting for quantum computing projects compared to less than 1% in 2019. There could be between 2,000 and 5,000 quantum computers worldwide by 2030 and $1 trillion in global market value according to McKinsey & Co.
So, what’s driving this interest in quantum computing? Tangible returns. Faster development times. Greater efficiency. 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.
Is quantum computing a viable technology for organizations planning their future? According to Owen Rogers, Research Director at 451 Research, “the majority (81%) have use cases in mind for where quantum computing could make an impact”. Quantum computing progressed in the last few years beyond merely academia or research labs and has been embraced by large organizations looking for financial returns and a competitive edge.
While quantum computers are not expected to replace traditional computers completely, their use is manifold and expanding daily. Moore’s Law, which predicted that the number of transistors in a dense integrated circuit (IC) doubles about every two years “will finally begin to degrade,” predicts former Google CEO Eric Schmidt. Traditional computing may be reaching its computational limit just in time for quantum computing to emerge from the lab.
Articles published online appear daily, reporting on some discoveries related to this technology. If you seek to be a pioneer in computing, the time is now. If you aspire to be a fast follower/early adopter, the curve is accelerating and it becomes more likely followers and adopters will fall behind. Quantum computing is not just for decision-makers in the largest of organizations. Within a few years, quantum computing will be more relevant for smaller-sized companies seeking to solve similar complex problems.
This relatively new and extremely complex technology has a big future and that’s why my new book, “Quantum Boost: Using Quantum Computing to Supercharge Your Business” is highly relevant today. Quantum Boost will inform decision-makers on what quantum computing is and its’ advantages over traditional computing while being a proponent of continuing to use traditional computing as well. Being a disruptive technology, only now illustrating its potential, quantum computing is at an inflection point with significant barriers to cross yet a world of opportunity ahead.
Find out more in “Quantum Boost: Using Quantum Computing to Supercharge Your Business” available now for pre-order on Amazon.
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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 quantum computing. His new book “Quantum Boost: Using Quantum Computing to Supercharge Your Business” will be released in early 2021.
Email: ceo@aquitaineinnovationadvisors.com
Aquitaine Innovation Advisors: www.aquitaineinnovationadvisors.com
LinkedIn: https://www.linkedin.com/in/brian-lenahan-innovation/
