We are fast approaching a technological era when quantum computing will become part and parcel of our daily lives. If you think about it, we’ll soon find ourselves sunk in the tech so deep that we won’t even imagine a world where it never existed.
The same happened with the internet. We practically do everything online. Rather than sending texts, we use messaging apps like WhatsApp, shop online on Amazon instead of going to the physical store and even use ride-hailing services such as Uber instead of waiting for a bus or taxi. Likewise, in countries like Japan, where there are currently no in-person casinos, players prefer playing on online casino Japan platforms instead of planning tedious and expensive tips to Macao or Singapore.
No doubt, if the internet is taken out of the equation today, life becomes intolerable because it has become a basic day-to-day tool. And soon enough, the same will be the case for quantum computing. Heck, with a global internet penetration rate of 63%, most of the world’s population has access to a computing device – which can be considered a bridge to the quantum computing realm. However, before we dive into the question of mainstream quantum computing adoption, we’ll take a few steps back and get to understand what it entails.
What is Quantum Computing?
To grasp how quantum computing works, you need first to understand how normal computing works. A digital computer is an arithmetic machine designed to perform cheap mathematical calculations. Of course, as technology has advanced, there has been a gradual rise of software programs designed to perform more complicated tasks.
As such, everywhere you go today, you will come across a computer performing a task that may seem mundane but has been made possible with a set of highly complicated software. Tasks such as dry-cleaning, loading gas on your vehicle, using your dishwasher or even adjusting your AC, wouldn’t be possible without computing power.
Quantum computing, however, takes things all to a whole new level. It is a new generation of technology that makes use of computers said to be 158 million times more powerful than what we are used to. As you can imagine, there’s insane potential for what a machine running on quantum technology can do. It essentially makes standard computers seem like glorified calculators in this context. So, how exactly does quantum computing work?
The Functioning of Quantum Computing
All the computers in the world work in a pre-defined manner such that they process and store information in the form of binary digits called bits. The bits can only exist in two values that is zero and one. Using these numbers, a computer can then create a binary code that the computer reads to carry out a specific task.
Quantum computing, on the other hand, borrows heavily from the quantum theory in physics, from which its name is derived. In a nutshell, the quantum theory deals with atoms and the smaller sub-particles inside them. And as you dig deeper into the subject, the world of quantum particles is very different from what we are used to. For instance, quantum particles can exist in several states simultaneously. This is sort of the same theory that quantum computing uses.
So, while regular computers can only use zero and one to create a binary code, a quantum computer makes use of both at the same time. Therefore, a quantum computer doesn’t need one process to end to begin another. For example, imagine you are trying to solve two equations at a go. A standard computer would try and solve one before going to another one. Instead, a Quantum computer would try to solve both at a go. This is what makes them exclusively faster than traditional computers.
How Soon Can We Expect Quantum Tech to hit Mainstream Channels?
Quantum computing is still in its infancy stages. However, it is anticipated that industries like finance will undoubtedly have a big boost and will start using it around 2025. Goldman Sachs, a global investment company, recently announced that they’d be able to introduce quantum algorithms to price financial instruments within the next 5 years.
Similarly, according to a recent report dubbed ‘The Next Tech Revolution: Quantum Computing’ from McKinsey & Company, we’ll see the widespread use of quantum computing strategies by 2026. McKinsey & Company is a global management consulting firm that has been in operation since 1926.
Let’s Prep for Quantum in the Meantime
When commercialized, the quantum tech will mean a different ball game altogether. The digital machines we are used to cannot get close to doing the things that quantum computing will be able to achieve. Rightly so, when quantum technology becomes the norm, the Harvard Business Review anticipates ground-breaking advances in the following fields:
- Chemical and biological engineering
- Cybersecurity
- Artificial intelligence
- Complex manufacturing
- Financial services.
That said, companies like Goldman Sachs need to lay a proper foundation to reap these gains. And as is the case with adopting any new commercial tech, the anticipated initial costs will likely be high. However, looking at the gains to be made, the investments will almost certainly be worth every penny in the long run.
