Quantum computing is a completely new paradigm of computing based on the principles of quantum mechanics, which in turn is based on the behavior of atomic and sub-atomic particles. Simply put, unlike classical computers that represent information using bits that are binary in nature, quantum computing represents information using qubits that can assume an infinite number of values between 0 and 1. This fundamentally different way of representing information along with certain other characteristics of quantum behavior results in tremendous computing power.
The promise of quantum computing
With the performance of classical computers likely to plateau due to physical limitations on the number of transistors that can be packed on a microchip, quantum computing promises a breakthrough that could provide the power required to solve problems that are characterized by complexity that cannot be practically handled by even the most powerful supercomputers of today. Such problems, typically referred to as intractable or NP-complete, are widespread across domains, and include diverse use cases such as portfolio optimization, vehicle routing, drug discovery, chemistry simulations and so on. Quantum computing technology thus has the potential to impact and transform a wide range of industries and create new opportunities for businesses to gain competitive advantage.
The flip side
On the other hand, however, it has been established that the power promised by quantum computing will make it easy to break current cryptographic practices and render these ineffective. It is therefore important for businesses to not only look at the opportunities that quantum computing would enable for them, but to also concurrently ensure that they are ready with the right measures to protect them against any new threats that may arise as a result of this technology.
Where are we today?
The last few years have seen a multifold increase in the number of hardware and software players in the quantum computing space – both established giants as well as startups. Current quantum computers are however severely constrained by their limited number of qubits, and their sensitivity to temperature and other ‘noise’ leading to decoherence. Different technologies and approaches are being tried out and tremendous progress is being made on multiple fronts. The technology is evolving faster than what was thought possible and it is safe to say that the future of quantum computing holds exciting competitive promise for business and industry overall.
The journey of quantum value discovery
Given the above developments and trends, we believe that quantum computing is now entering the mainstream. Many organizations, across verticals, have already started investing in exploring this in the context of their businesses. While the technology itself is evolving, the time is right to start investing in experimenting with this new technology to understand the opportunity that it may hold. Here are a few pointers on how you could kick off your journey to quantum value discovery:
The role of a technology ally
Considering that most of the current work is likely to be of an exploratory and experimental nature, the right approach for most organizations would be to remain open on decisions related to investments in specific technology stacks, and instead focus on decisions related to investments in specific use cases.
Most organizations will therefore benefit from having a technology neutral partner who could help them navigate through this early journey of exploration and experimentation without binding long-term commitments to specific technologies. Such a partner will not only bring in tremendous value as a collaborator in the steps proposed above, but also significantly reduce the risks of experimenting with an evolving technology of this nature.
Considering the nature and state of the technology, here’s what we recommend an organization should look for while choosing their technology transformation partner:
Having said this, there’s just one little question that begs to be asked:
Is your business on the quantum computing super highway yet?