Business Readiness: Get ready to leap forward with quantum computing

At the low end of the layer cake computer, it’s only 10 millikelvins, pretty much the coldest temperature anywhere in the universe. — © AFP

Throughout 2022, a larger proportion of companies have expressed interest in future quantum computing. There is an expectation that once real quantum computers work, they can solve many business problems along with complex computing requirements.

To understand how quantum computing will shape business and why there is a lot of interest, digital journal Owned by Christopher Savoie, CEO & Co-Founder of Zapata Computing & Gregg Carman, Chief Commercial Officer at Zapata Computing.

Savoie’s key message is ‘Get Ready’, as he notes: ‘Companies in every industry – from pharmaceuticals and banking to energy and supply chains – need to prepare for quantum computing now if they want any chance of first-mover advantage create .”

Regarding the preparatory steps, Savoie advises: “In the beginning there is the right infrastructure. Based on the conversations we’re having with companies around the world, it’s clear that most are now incorporating quantum computing into their budgets, showing that this message is resonating.”

Also important for the planning process, Savoie finds: “In addition, it is important for companies to understand that the near-term benefits will come from quantum-inspired techniques running on existing infrastructure; from machine learning to tensor networks to generative AI models that can analyze data – and even generate synthetic data if needed – to compute the most optimal outcomes, which can then be translated into measurable business improvements.”

Noting that post-quantum cybersecurity threats could emerge, Savoie warns: “We are seeing a trend where organizations are not fully aware of the threats that exist and only worry about them once a breach has occurred. We believe there is a common misconception that quantum computing threats are not going to materialize anytime soon – ie it will take a decade or more and they will only come from the more powerful quantum computers of the future. That’s not the case.”

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The reason why companies need to be concerned now is: “As our research has shown, heuristic algorithms – such as Variational Quantum Factoring (VQF) – running on soon-to-be-available NISQ devices can be as low as a few thousand qubits, some widely used.” Break encryption protocols use today. Being prepared for these threats now is important for all industries, especially governments and other large organizations that have access to sensitive information.”

Regarding the repositioning of companies in relation to new technological changes, Savoie foresees: “We expect that in 2023, as part of the natural flow and rhythm of enterprise software, there will be more consolidation in the market. We’re seeing more startups entering the market, which is a good sign — it means there’s a growing market opportunity. Consolidation is likely to take place in software, post-quantum cybersecurity, and even vertical applications like pharma and banking. With all these new expected players in the ecosystem, the bar is raised when it comes to bringing something unique and innovative to the table. But it also means that there are opportunities for collaboration and integration that transcend the bar.”