Quantum Computing Goes Global
February 18, 2022 (Investorideas.com Newswire) With a significant edge over traditional computer systems, quantum computing has the potential to transform industries like never before. From public investments to academic research and innovations from tech startups, a global push to unlock the potential of quantum computing is well underway. As of late, several quantum computing companies have emerged as frontrunners in the race to bring the next generation of computing to life.
The quantum edge
You may be wondering why, in an age of rapid technological advancements, regular computing is insufficient. This is because quantum computing is capable of a higher level of problem solving than even the strongest supercomputers.
Because traditional computers use binary signals (the “0s and 1s” of code) to solve problems, they struggle to perform calculations called combinatorics, which involve assessing different outcomes based on combinations.
Quantum computing, on the other hand, is based on weighing up the probabilities of different combinations of outcomes, meaning that quantum computers should be able to solve certain complex problems with greater ease than traditional computers. As a result, an enormous wave of worldwide research on the topic is underway.
Global Demand
To date, an array of world powers have placed great efforts into furthering their understanding of quantum computing and its applications. China, the United States, and Europe have each committed billions of dollars to public investments in quantum computing and continue to pledge future contributions. On the academic side, thousands of research papers on the subject have been published.
The innovators on the front lines, however, are those quantum computing companies that are transforming envisioned use cases into tangible, real-world applications.
Untapped potential
Recent global computing trends have given rise to a major opportunity for quantum computing to advance cybersecurity. According to bodies such as the U.K.’s National Cyber Security Center, the COVID-19 pandemic was a major driver for an increase in cyber attacks.
With remote working becoming an increasingly popular trend, fewer workers enjoy the protection of secure, on-site security infrastructures provided by their offices. As a result, they are more susceptible to cyber threats. Quantum computing, together with AI and machine learning, should be able to repel larger waves of attacks as well as more sophisticated threats than is possible with existing solutions.
Quantum computing also has a great potential to transform pharmaceuticals. Because of its ability to better analyze combinations and predict outcomes, quantum computing could beat its traditional counterparts in analyzing the properties of medications and determining how to optimize their effectiveness.
As a result of this advantage, quantum computing should also be able to optimize manufacturing of other materials, for example, plastics and fuel cells.
Leading the pack
One of the leading quantum computing stocks that is bringing this technology to life is IonQ. Together with fellow computing company QC Ware and investment banking company Goldman Sachs, IonQ is focused on transforming the financial services industry.
The three companies recently released a research paper in which they revealed how IonQ’s quantum computers are powerful enough to run an advanced algorithm that has been formulated by Goldman Sachs and QC Ware. The algorithm, used to speed up an advanced problem solving technique called the Monte Carlo simulation, could help financial service providers to assess risk and simulate the prices of financial instruments at a faster rate than ever before.
Quantum computing is also impacting telecommunications. A research team from the University of Science and Technology of China in Hefei has developed an integrated quantum communication network. This network is able to support advanced online tasks that are performed by the likes of state and local banks, municipal power grids, and e-government websites.
Another quantum computing stock that is leading on multiple fronts is IBM. The company supplied a quantum computer to the Fraunhofer research institute in Germany. According to the German Chancellor Angela Merkel, this computer is expected to play a pivotal role in the nation’s understanding of how quantum computers operate, thereby fueling quantum computing research.
IBM also set up a quantum computing hub at the Kawasaki Business Incubation Center in Tokyo. A group of 12 Japanese companies, including Toyota, Hitachi, and Toshiba, will have the opportunity to make use of them. While Mitsubishi is expected to use them to run simulations as part of their chemical manufacturing process, Toyota may use the computers to analyze big data from car trips to advance autonomous driving development.
Accelerating into the future
As more research and development is carried out, the applications of quantum computing continue to multiply. If you happen to be an investor with a keen interest in emerging technologies, then an investment in some rising quantum computing stocks may be worth your attention.
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