What is Quantum Computing and How Will it Impact the Business World?

Last month, computing experts and tech enthusiasts were buzzing when Google announced its latest quantum computing feat: One of their experimental quantum computers solved a problem so quickly that it achieved “quantum supremacy”. Unless you have a trained background in computer science or an extensive interest in the subject, it can be intimidating to join in on the fun when the ins-and-outs of quantum computing aren’t something that you’re familiar with.

Here’s the good news: The basic definition of quantum computing isn’t as complicated as you might think.

More good news: Quantum computing is projected to revolutionize the business world, making your life easier and your business’ impact deeper.   

So, what is quantum computing? Check out this quick video by IBM for the spark-notes version, which is all you need to know to understand its foundations.

A Brief Timeline of Quantum Computing History

  • 1981: Richard Feynman presents a basic quantum computer model to a research group at MIT. Although it was met with some skepticism, Faynman claims his model will undoubtedly outpace classical computers.
  • 1994: The Shor algorithm is developed by Peter Shor. This algorithm allows quantum computers to efficiently factorize large integers much quicker than even the fastest classical algorithm on traditional machines.
  •  1996: Lov Grover invents a quantum database search algorithm, which allows equations to be solved 4x faster.
  • 1998: The race into a new era of computer power begins with more applications being developed, after the first 2-qubit quantum computer was built.
  • 2017: IBM presents the first commercial quantum computer, taking the race to another level and enticing other major tech companies to develop their own models.
  • 2019: Google reaches quantum supremacy when one of its computers solves a problem that would take a traditional computer up to 10,000 years, in just minutes.

Source: Medium

How Will Quantum Computing Impact Business?

Scientists and business analyst are still in the process of finding out exactly what aspects of business quantum computing should apply to first. Overall, though, the quantum community agrees that showing more examples of where these computers can be useful in the real world is a current goal. So far, quantum computing is projected to have a profound impact on the following areas of business:

  • Cryptography
  • Data analytics
  • Travel & commuting
  • Budgeting and forecasting

Until now, these effects seemed so far off that they were nearly impossible to imagine. However, Google’s latest feat has renewed hope that businesses will reap the benefits of quantum computing with the next several decades, if not the next several years.

Leverage the Future

We know one thing for sure—the future of technology is exciting. To learn more about how you can leverage the latest technology innovation to meet your business goals using Grade A, click here.

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