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What is Quantum Computing & how could it change the future?
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In this issue of Future Thinking, we look at the state of the quantum computing universe as it stands today, and five ways that it's development can, and likely will, tackle significant global challenges.
There can be no doubt that quantum computing will dramatically change the landscape of the future - from multidisciplinary fields such as physics and chemistry to the pharmaceutical, security and transportation industries. It also raises important philosophical and ethical questions. It is a technology that will likely revolutionise the way that we live our lives.
Globally, research labs at companies like Google and IBM are spending extensive resources on improving quantum computers, and with good reason. At the end of last year, Google announced to much fanfare that it had demonstrated “quantum supremacy” – that is, it performed a specific quantum computation far faster than the best classical computers could achieve.
IBM promptly critiqued the claim, saying that its own classical supercomputer could perform the computation at nearly the same speed with far greater fidelity and, therefore, the Google's announcement should be taken “with a large dose of scepticism.”
What does this all mean, how can we make sense of it, and how could Quantum Computing define the future?
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Watch the video above from the Institute for Quantum Computing to discover what makes quantum computers very different and a lot more powerful than the computer you use every day. This video is part of QUANTUM: The Exhibition, a traveling 4,000 square foot, bilingual exhibition
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Thanks to advances at leading universities around the world and industry research centers, a handful of companies have now rolled out prototype quantum computers. But the field is still wide open on fundamental questions about the hardware, software and connections necessary for quantum technologies to fulfill their potential.
One of our key partners, Oxford Sciences Innovation, is working with its academics - the University of Oxford has been a world leader for quantum computing research - to build companies that are challenging the corporates in this space with incredible pace. OSI's portfolio includes four quantum companies - each using a different kind of qubit - and one quantum security company.
So the quantum computing market is most definitely here - and is projected to grow strongly through the next decade. As PwC's report last year outlined, we have seen strong innovations in recent years and McKinsey suggests that some companies may reap real gains from quantum computing within five years. Quantum computing will enable industries to tackle global challenges they never would have attempted to solve before: quantum computers have the potential to revolutionise computation by making certain types of classically intractable problems solvable.
It is an incredibly exciting space - and this newsletter will explore five ways that Quantum Computing might just alter our future...
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How will quantum computing change the world? | The Economist
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Five ways that Quantum Computing can tackle global challenges
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2. Significant advancement of AI: Quantum Computing will change artificial intelligence by giving massive computing power to enable a faster and more robust AI. An AI on a Quantum Computer has the potential to hold a real conversation with humans and actually understand what is being said - it is also possible for quantum computing to result in The Singularity, the hypothetical future creation of superintelligent machines.
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3. Industrial opportunities: This “4th Industrial Revolution”, as dubbed by Morgan Stanley, will yield explosive opportunities. Immediate applications include more energy-effcient materials, as well as better weather forecasting, financial modeling, and other applications of AI. But as with any new technology, the most exciting applications are those which we cannot yet even conceive.
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4. Significant threat to cyber-security: What is considered safe encryption today will soon be undermined by quantum computing. It has been estimated that it would take quantum power of 4,000 qubits to break today’s ”strong” encryption keys - the clock is clearly ticking on all of today’s methods.
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5. Quantum technologies can help to save the world: Alongside improved modelling, the World Economic Forum has discussed how advances in quantum computing could help simulate large complex molecules. These simulations could uncover new catalysts for carbon capture that are cheaper and more efficient than current models.
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Challenge Investing
Within our universe, we have a significant number of companies that are helping to profitably address this exciting global challenge. If you’d like to invest in some of the most promising growth companies based on top research then please don't hesitate to get in touch.
This comes with very best wishes from everyone at Future Planet Capital.
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