Quantum computing use cases are getting real—what you need to know

January 17, 2022 Enterprise, Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Fintech International, Innovation and Resources, Research No comments

McKinsey Digital | Matteo Biondi, Anna Heid, Nicolaus Henke, Niko Mohr, Lorenzo Pautasso, Ivan Ostojic, Linde Wester, and Rodney Zemmel | Dec 14, 2021

harvard physicists - Quantum computing use cases are getting real—what you need to know

A burgeoning quantum-computing ecosystem and emerging business use cases promise to create significant value for industries—if executives prepare now.

Accelerating advances in quantum computing are serving as powerful reminders that the technology is rapidly advancing toward commercial viability. In just the past few months, for example, a research center in Japan announced a breakthrough in entangling qubits (the basic unit of information in quantum, akin to bits in conventional computers) that could improve error correction in quantum systems and potentially make large-scale quantum computers possible. And one company in Australia has developed software that has shown in experiments to improve the performance of any quantum-computing hardware.

As breakthroughs accelerate, investment dollars are pouring in, and quantum-computing start-ups are proliferating. Major technology companies continue to develop their quantum capabilities as well: companies such as Alibaba, Amazon, IBM, Google, and Microsoft have already launched commercial quantum-computing cloud services.

Of course, all this activity does not necessarily translate into commercial results. While quantum computing promises to help businesses solve problems that are beyond the reach and speed of conventional high-performance computers, use cases are largely experimental and hypothetical at this early stage. Indeed, experts are still debating the most foundational topics for the field (for more on these open questions, see sidebar, “Debates in quantum computing”).

See: Documentary (30mins): Quantum technologies role in our sustainable future

Still, the activity suggests that chief information officers and other leaders who have been keeping an eye out for quantum-computing news can no longer be mere bystanders.

Quantum computing startup activity and investments growing - Quantum computing use cases are getting real—what you need to know

A Growing Ecosystem

China and European union lead significantly for public funding on quantum computing
Startup activity and investments have sky rocketed since 2015
Hardware is a significant bottleneck in the ecosystem - Multiple quantum-computing hardware platforms are under development.
Most known use cases fit into four archetypes: quantum simulation, quantum linear algebra for AI and machine learning, quantum optimization and search, and quantum factorization. Industry use cases in pharmaceuticals, chemicals, automotive and finance.

Continue to the full article --> here

NCFA Jan 2018 resize - Quantum computing use cases are getting real—what you need to know The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org