The era of quantum computing's targeted benefits is coming – are you ready? | VTT (2024)

The era of targeted benefits in quantum computing lies within a 3–5-year time horizon. A quantum computer will then compute a particular useful problem better than a classical computer. Companies and industry should consider how the coming era could benefit their own business. There is still some time to create your own strategy.

Quantum computing is the subject of intense research and debate. Businesses are feverishly considering whether to react and opinions are divided. Some are waiting to see the first breakthroughs, others have already set up quantum computing teams to practise applying it to their own industry. Are the pioneers wasting their resources or should even sceptical companies join the experimenters? The hype generated by the lively debate can prevent people from seeing the true nature of the technology and make decision-making more difficult. Expecting too much can lead to disappointment, while ignoring the progress can be risky and give competitors too much of a head start.

One topic of discussion is the number of qubits. There is a wide range of figures, which makes it difficult to understand the subject. Canadian quantum computing company D-Wave offers 5,000 qubits, IBM has announced 1,000 qubits, Quantinuum from the US and UK has 32 qubits and VTT is building 50 qubits. Does the superiority of the machines depend on the number of qubits?

Another confounder of the debate is quantum computing algorithms whose computational power has been theoretically proven, but whose usefulness awaits the era of error-corrected quantum computing. At present, there are still errors in quantum computing due to the sensitivity of qubits, which can lead to erroneous computational results. Algorithms can be run on today's machines, but only for problems so small and with such poor accuracy that experimenters may lose interest from the start.

The era of practice

In an ideal quantum computer, the number of simultaneous states increases exponentially as the number of qubits increases. Already at 50 qubits, the memory capacity of supercomputers is approaching its limits, as a 50-qubit quantum computer computes at 250 or 1015 complex numbers. So why doesn't IBM's 1,000-qubit machine already outperform all other quantum computers and supercomputers in the world? The number of qubits does not tell the whole story as the quality of the qubits, their interconnectivity and the amount of noise are also essential factors.

Today's quantum computers are noisy, and the qubits are only finitely coupled, so they do not match the computing power of a theoretical quantum computer – not even close, even with 1,000 qubits. We are now living in an era of quantum computing practice, and the whole world is practising to build, use and apply quantum computers.

Towards targeted benefits

The quality of qubits is called fidelity, which tells you the probability of whether one operation on a qubit will succeed without error. As fidelity improves, it will be possible to perform more and more operations in sequence with a reasonable success rate and the quantum computer will be able to solve increasingly complex problems.

Current fidelity enables 2,000–3,000 operations between two qubits. This number can be used to solve targeted problems that fit the architecture of the quantum computer's inter-qubit coupling. These include simulations of certain quantum phenomena. The quality and speed of the solution approaches that of a calculation using classical methods.

Fidelities have improved even faster than predicted. It is therefore expected that, within a timeframe of about 3–5 years, we will have machines with fidelities to run 10,000 two-qubit operations. In this case, a quantum computer will be able to compute a problem faster, in a more environmentally friendly way or with better quality than the best classical algorithm on a supercomputer. We are entering an era of targeted benefits. The benefit is not a general computing advantage, but will revolutionise the world by showing that a quantum computer can compute a useful problem more efficiently than a classical computer.

Business and industry should start exploring the potential of targeted benefits now, so that they can be harnessed as soon as possible. The advantage should not be given to competitors that may already be investigating their own problems.

The era of quantum computing's targeted benefits is coming – are you ready? | VTT (1)

VTT’s five-qubit quantum computer is available for both commercial and research purposes.

Now is the time to explore the benefits of quantum computing

This improvement in fidelity will eventually enable error-corrected quantum computing, which will affect all industries. Several noisy qubits together can form a single computational qubit, and errors in noisy qubits can be detected and corrected by other qubits. This will further improve the fidelity of this computational higher-order qubit.

When we have hundreds of thousands or millions of sufficiently high-quality noisy qubits, we can form hundreds or thousands of sufficiently high-quality error-corrected qubits from them. Error-corrected qubits make it possible to run quantum algorithms with a theoretically proven advantage over classical computing. Then it's just up to the algorithm and the problem how many error-corrected qubits are needed to gain an advantage.

The era of error-corrected quantum computing is 10–15 years away. Although this is still a long way off, it is important for companies to start exploring their own computational cases now and to identify which problems are suitable for error-corrected quantum computing and which are not. Understanding and learning take time.

There is still time to practise quantum computing and improve your own quantum computing strategy. The era of targeted benefits will dawn in the coming years. Not all businesses and sectors can benefit from it, but for some it can be a lifeline. The open question is who will benefit who will not. The only way to find out is to jump in and explore.

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The era of quantum computing's targeted benefits is coming – are you ready? | VTT (2024)

FAQs

The era of quantum computing's targeted benefits is coming – are you ready? | VTT? ›

The era of quantum computing's targeted benefits is coming – are you ready? The era of targeted benefits in quantum computing lies within a 3–5-year time horizon. A quantum computer will then compute a particular useful problem better than a classical computer.

Are we ready for quantum computers? ›

The current field of quantum computers isn't quite ready for prime time: McKinsey has estimated that 5,000 quantum computers will be operational by 2030 but that the hardware and software necessary for handling the most complex problems won't be available until 2035 or later.

What are the future benefits of quantum computing? ›

It has the potential to transform many industries, as such computers solve problems exponentially faster and with less power consumption than traditional computers. As a result, it will allow companies to better optimize their investment strategies, encryption, or discover new products.

What is the future era of quantum computing? ›

A Gradual Revolution

Instead of a sudden revolution, we will likely see a more gradual integration of quantum computing into existing frameworks. This progression will allow industries to adapt to the new technology and grow over time. History teaches us a lesson through the invention of the transistor.

How soon will we have quantum computers? ›

As of 2022, they predict to have over 1000 qubits by 2023, and 1 million qubits in 2030. Google even thinks of building a 1M qubit device by 2029.

Why did NASA shut down the quantum computer? ›

The abrupt shutdown of NASA's quantum computing project was triggered by an unforeseen incident during a routine test. During the analysis of a complex simulation, the quantum computer demonstrated unprecedented computational power, solving a previously intractable problem.

Has anyone built a quantum computer yet? ›

Quantum computers are being manufactured and used. But they cannot yet make the large-scale calculations that are expected to be possible in the future. You may be one of those waiting for the quantum computer, the arrival of which we have been told is imminent for several years.

What next after quantum computing? ›

We expect to see a transition from the era of noisy devices to small devices that can sustain computation through active error correction. Another is the advent of post-quantum cryptography. This means the establishment and adoption of cryptographic standards that can't easily be broken by quantum computers.

What can quantum computers do that normal ones can't? ›

However, a classical computer can only be in one of these one billion states at the same time. A quantum computer can be in a quantum combination of all of those states, called superposition. This allows it to perform one billion or more copies of a computation at the same time.

Is the US ahead in quantum computing? ›

America is the undisputed world leader in quantum computing even though China spends 8x more on the technology–but an own goal could soon erode U.S. dominance. China has earmarked at least $15 billion to develop its quantum computing capabilities.

Can quantum computing change the world? ›

Quantum Computing Will Change the World

And they're infinitely faster and more powerful than even today's fastest supercomputers. Again, the physics behind quantum computers is highly complex, but here's my shortened version…

Why quantum computing is the next big thing? ›

Using quantum computers to simulate quantum systems could allow researchers to model molecular dynamics more accurately, triggering innovation and revolutionizing the process of materials science and discovery for numerous industries.

Will quantum computers become a reality? ›

Yes. Quantum computers will become "useful" and "practical" in the short term future (less than 7 years). They won't be general purpose computers, but they will serve along side HPC systems as "co-processors" for specialized data processing such as optimization, physics simulations, and data encryption.

What company is leading in quantum computing? ›

1. International Business Machines Corporation (IBM)

How expensive is a quantum computer? ›

In hardware alone, a useful quantum computer costs tens of billions of dollars to build. At that price point, quantum computers are only available to the largest and most wealthy enterprises, barring the majority of people from access to the technology.

How likely are quantum computers? ›

The first commercial general-purpose quantum computers are likely to appear in over a decade's time - in the 2030s. The 2020s will likely be a time of progress in quantum computing, but it is not likely to be until the 2030s that the larger market is able to develop.

Are we inside a quantum computer? ›

The universe, however, might have already invested in a quantum computer. After all, information is processed in a very quantum mechanical way both on a tiny and large scale. The efficiency of these processes in our universe may very well suggest its true nature—of a quantum kind.

Can quantum computers do anything yet? ›

As quantum computing is still a nascent field, most of the problems we know quantum computers will solve are phrased in abstract mathematics. Some of these will have “real world” applications we can't yet foresee, but others will find a more immediate impact. One early application will be cryptography.

Are quantum computers practical yet? ›

Quantum computers are currently only suitable for solving problems where their approach of harnessing the laws of quantum physics is superior to the approach of classical computers. Indeed, classical computers are still faster or better in many use cases.

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