Why Are Big Tech Giants Like Google & IBM Rushing To Commercialize Quantum Computing?

 Big Tech Giants

Big Tech Giants

Quantum computing is all set to go beyond labs into the cloud – tech giant Google announced Bristlecone, a quantum processor which will provide a provide a testbed for research into system error rates and scalability of qubit technology, as well as applications in quantum simulation, optimization, and machine learning. Announcing therelease Julian Kelly, Research Scientist at Google’s Quantum AI Lab noted that quantum supremacy can be achieved with Bristlecone and could be a compelling proof-of-principle for building larger scale quantum computers.

Well, Google is not really the first company to make an attempt to commercialize quantum computing – IBM has made significant progress across the entire quantum computing technology stack first brought it to the cloud in 2016 with a 5 qubit quantum computer. In November 2017, IBM raised the bar by announcing a third generation of quantum computers with a 50 qubit prototype, a huge milestone for quantum computing, but there is no news whether it is commercially available. The company was quick to point out that it is not ready for common use. However, the company made a 20-qubit system available through its cloud computing platform.

What’s behind the dash towards Quantum Computing?

According to a research report from Morgan Stanley, quantum computing could hold the key to double the high-end computing market from $5bn to $10bn – that explains the reasons why companies are accelerating the mass adoption by moving quantum computers from labs to commercial activities. Outside of big tech companies like Google, Microsoft, Intel, IBM & Nokia Bell Labs, there are a slew of emergent players like Rigetti, a full stack quantum computing company, ionQ & D-Wave.

However, the research also posits that quantum computing is not suited to all compute tasks and web servers will continue to store data but could gain a significant edge post 2025.

Let’s see why quantum computing has become a key enterprise strategy:

  • Usher the fourth industrial revolution: Quantum computing has moved from fundamental theoretical research to an engineering development phase and could trigger the fourth industrial revolution, with significant developments in sectors where more computer power is required for R&D efforts – drug discovery in pharma, plane design in aerospace, well data analysis in Oil & Gas, polymer design in Chemical and predictive maintenance in manufacturing.
  • Use cases go beyond traditional sectors: According to Dr Vijay Pande, entrepreneur and Stanford Professor, quantum computing will have a profound impact in area where classic computers fail – such as the ability to model the chemistry (more precisely, quantum chemistry) of molecules involved in drugs, or in industrial processes such as energy, new advances in machine learning and novel cryptography.
  • Add new revenue stream: According to Communications Industry Researchers (CIR),revenues from quantum computing are forecasted to grow from US$1.9 billion in 2023 to US$8.0 billion by 2027.

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Article Credit: Analytics

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