The Quantum Computing Revolution: A Glimpse into the Future
Major tech companies and innovative startups are intensely focused on quantum technology. Giants like Amazon, IBM, Google, Intel, and Microsoft are all investing heavily in this transformative field, alongside other key players such as Rigetti, IonQ, Quantum Computing Inc., and D-Wave Quantum Inc.
The latest significant entrant into this dynamic space is Nvidia. In March, CEO Jensen Huang announced plans to establish a quantum computing research center in Boston.
Matt Langione, managing director and partner at Boston Consulting Group, noted the current surge in excitement. “The surge in excitement now is driven by a convergence of technological advancements, funding and clearer pathways to real world applications,” Langione explained. “By some estimates, greater than $50 billion have been pledged to quantum technologies, of which quantum computing is one, by governments around the world.”
Potential and Limitations
Experts believe quantum computing can efficiently address problems that are either too difficult or impossible for traditional computers. However, this doesn’t signal the end of classical computing.
“Quantum computing will actually drive more classical computing because they’re very complementary,” Langione stated. “Future problems that are solved by quantum computers will always be solved by hybrid setups, where you have a classical computer doing the part of the algorithm where classical computers are more efficient, and a quantum computer performing the part of the algorithm where quantum computers are more efficient.” This synergy suggests hybrid systems will become the norm, leveraging the strengths of both types of computing.
One example of potential application lies in the development of new drug therapies or improvements in battery materials. The applications are vast and can solve very complex problems.
Economic Impact and Industry Applications
Analysts at McKinsey and Company predict that the industries most likely to see the earliest economic impact from quantum computing are mobility, chemicals, financial services, and life sciences. They project these industries could gain up to $2 trillion in value by 2035.
Peter Barrett, founder and general partner at venture capital firm Playground Global and a major investor in quantum computing startup PsiQuantum, emphasized its disruptive potential. “It’s a new class of computation that I think can dramatically change most aspects of industry, commerce and science.”
Current Challenges and Future Prospects
Despite recent advancements, quantum computers still face the challenge of solving large, real-world problems. CNBC recently visited PsiQuantum, a Silicon Valley startup, to assess the progress towards a useful quantum computer.
The transition of quantum technology from lab experimentation to commercial viability presents ongoing engineering hurdles. More on these challenges can be found in the video.
Kate Rooney of CNBC contributed to this report.
