Each day millions of gigabytes of data are produced around the world. Businesses find it difficult to process the enormous amount of information collected from its users to find the place of improvements. Today, Big Data, Machine Learning, and Artificial Intelligence are providing solutions for organizations to increase productivity and take calculated risks. But with innovation in networking technology and the introduction of 4G & 5G connectivity, the amount of data that is produced is increasing exponentially. The algorithms used in Big Data are fast but still takes a significant amount of time and computing resources.
Moreover, our current computing solutions are power consuming. According to a prediction by Semiconductor Industry Association, we will no longer have the power to run all the computers around the world by 2040.
Quantum Computing in Simple Words:
Quantum computing is a new innovation in the traditional computing technology which uses quantum-mechanical phenomena, such as superposition and entanglement. To simplify this, let’s see how Quantum Computers are different from our current, binary digital electronic computers.
Our computers including laptops, enterprise servers or a smartphone work on transistors and capacitors and speak the language of 0s and 1s. They encode the data into binary digits each of which is always in one of two definite states either 0 or 1. But, quantum computers use quantum bits or qubits, which can be in superpositions of states.
Our traditional computers are like electric switches which can either be on or off, but not both at the same time. Quantum Computers can have more options because they are governed by the laws of quantum theory.
Why Does It Matter?
Quantum computing is trying to answer things that traditional computers have yet to figure out. They are designed to remove the limitation of the processing power of the current processors. They aim to solve problems that are too complex, powerful, timely and power consuming for which our current systems can only address one task at a time.
Business Applications of Quantum Computing:
Quantum Computing technology is still an infant. But practical and theoretical research is continuing to develop quantum computers for civilian, business, trade, environmental and national security purposes. Ultimately, the commercial utility and applicability of these machines matter. That’s why we have compiled a few areas in which you will see a major change in your business and the IT part of your industry.
“Quantum computing industry will be worth about $5 billion by 2020 according to a forecast by marketresearchmedia.com”
We have been fighting the cyber war since the computers emerged. And we haven’t won yet. Attackers are getting smarter each day. They find a way to breach a computer network and decipher or steal sensitive information.
With quantum computers having more processing capabilities, businesses will become more secure. They will be able to find vulnerabilities in their network, scan and detect malicious users and programs and have encryption of their information. Better encryption is highly dependent on larger prime numbers which current computers cannot generate. Attackers won’t be able to perform malicious operations with their traditional computers.
The key to successfully run any business is to constantly improve the products and services for your customers. You not to analyze the market, find how your customers are interacting with your products and figure out ways by which you can reduce your cost of operation. All this can be done by analyzing data collected from all the branch offices, online services, vendors and other business ecosystems.
Quantum Computing will simplify Data Analytics to interpret patterns and trends. Quantum computers can undertake very complex calculations and tackle huge data problems easily. This applies to all types of industries, including airlines, retail, manufacturing and many more. NASA is also working on using quantum computing for analyzing the enormous amount of data they collect about the universe.
Companies need to predict and forecasting various scenarios that will help in business expendability. But doing is very time-consuming due to large and complex data sets. They want agility in taking business decisions and adapt the current market trends. Quantum computing will make decision making very easy by employing Machine Learning and Artificial Intelligence to predict future trends in no time.
“Nearly 30% of the US GDP is affected by weather forecasts in some way or another”
Finding patterns in all types of data, including decades of data related to scientific research will be simplified using Quantum Computing. It will uncover insights that were previously undiscovered. Organizations will be able to deliver faster services in terms of preventative health measures and faster discovery of new pharmaceutical solutions.
Quantum computing currently is under development and it will take a few more years to see Quantum computers in our day to day life. But it is worth considering and preparing for investing in this technology. It has enormous potential for your business productivity and it will change how businesses and computing services currently work.