Value Still Expected in Quantum Computing Says BCG

A new era of technological advancements is on the horizon. This era promises significant breakthroughs in secure communications. It also promises complex system simulations and national security. Financial institutions will soon be able to process vast amounts of data for risk assessment and portfolio optimization, giving them a competitive edge in the market.

According to experts, the focus of development will shift from increasing the number of qubits in quantum processors to encompassing additional criteria as users seek to harness emerging value. Key challenges include noise reduction, clock speed improvement, and efficient data loading. Companies like Alice & Bob and AWS are working on resolving these issues.

Laurent Prost, Elie Gouzien from Alice & Bob, and Helmut Katzgraber from AWS have contributed significantly to the research. As quantum computing becomes more accessible, it will create enormous value in sectors where it can solve business problems faster or better. With the technology still on track to achieve significant advances, end users must build partnerships with providers and develop their skill sets to stay ahead of the curve.

The article from BCG highlights the immense potential of quantum computing to revolutionize various industries. These industries include chemicals and agricultural companies, pharmaceuticals, defense and space, and financial institutions. By leveraging quantum computing’s capabilities in molecular modeling and simulation, these industries can achieve breakthroughs in material science. They can also achieve breakthroughs in crop protection, drug discovery, and secure communications.

However, the article also acknowledges significant challenges to overcome before quantum computing can reach its full potential. One primary focus today is increasing the number of qubits in a quantum processor. Still, the authors argue that this focus will broaden to encompass additional criteria as users seek to harness emerging value fully.

Four key areas require improvement: noise reduction, clock speed, data loading, and connectivity and computer performance. Noise reduction is critical, as low fidelity rates prevent NISQ-era algorithms from providing real ROI in the near term. Implementing an error correction code will be necessary to reduce noise and permit increased circuit depth drastically.

Clock speed is another variable that needs improvement, as quantum computers are currently slow compared to their classical counterparts. The article highlights the significant differences in clock speeds among different quantum computing modalities, with cold atom systems operating in the kHz range and superconducting qubits potentially reaching MHz ranges.

Data loading is a key bottleneck, as qubits are scarce, and smart algorithms can only map data into the computer with a minimum of requirements. An alternative approach would be to compute directly from a native quantum state, avoiding the need for classical data loading.

Connectivity and computer performance are also crucial, as they enable the efficient implementation of error correction code. Some quantum technologies, such as trapped ions and neutral atoms, already benefit from high intrinsic connectivity, while others, like superconducting and silicon qubits, are limited to near-neighbor connectivity.

The article concludes that the focus of financial assessments will shift over time from expectations for long-term return to near-term ROI. While quantum computing is currently more expensive than classical computing, the gap is expected to shrink with increasing scale over time. Corporate buyers will prioritize use cases that promise a rapid ROI, and end users need to build out their partnerships with providers and develop their own skill sets to fully harness the potential of quantum computing.

Overall, the article provides a comprehensive overview of the current state of quantum computing and its potential applications. While challenges remain, the authors argue that the overall picture remains stable, and quantum computing is still on track to create enormous value in various sectors.