Kiran Raj, Principal Disruptive Tech Analyst at GlobalData, comments: Qubits can allow to create algorithms for the completion of a task with reduced computational complexity that cannot be achieved with traditional bits. Given such advantages, quantum computers can solve some of the intractable problems in cybersecurity, drug research, financial modelling, traffic optimization and batteries to name a few.

An analysis of GlobalDatas Disruptor Intelligence Center reveals various companies in the race to monetize quantum computing as an everyday tool for business.

IBM's latest quantum computer, accessible via cloud, boasts a 65-qubit Hummingbird chip. It is an advanced version of System Q, its first commercial quantum computer launched in 2019 that has 20 qubits. IBM plans to launch a 1,000-qubit system by the end of 2023.

Alphabet has built a 54-qubit processor Sycamore and demonstrated its quantum supremacy by performing a task of generating a random number in 200 seconds, which it claims would take the most advanced supercomputer 10,000 years to finish the task. The company also unveiled its newest 72-qubit quantum computer Bristlecone.

Alibabas cloud service subsidiary Aliyun and the Chinese Academy of Sciences jointly launched an 11-qubit quantum computing service, which is available to the public on its quantum computing cloud platform. Alibaba is the second enterprise to offer the service to public after IBM.

Not just big technology companies, well-funded startups have also targeted the quantum computing space to develop hardware, algorithms and security applications. Some of them are Rigetti, Xanadu, 1Qbit, IonQ, ISARA, Q-CTRL and QxBranch.

Amazon, unlike the tech companies competing to launch quantum computers, is making quantum products of other companies available to users via Braket. It currently supports quantum computing services from D-Wave, IonQ and Rigetti.

Mr Raj concludes: Albeit a far cry from the large-scale mainstream use, quantum computers are gearing up to be a transformative reality. They are highly expensive to build and it is hard to maintain the delicate state of superposition and entanglement of qubits. Despite such challenges, quantum computers will continue to progress into the future where companies may rent them to solve everyday problems the way they currently rent cloud services. It may not come as a surprise that quantum computing one day replaces artificial intelligence as the mainstream technology to help industries tackle problems they never would have attempted to solve before.

See original here:

Race for quantum supremacy gathers momentum with several companies joining bandwagon, says GlobalData - Quantaneo, the Quantum Computing Source