Why might businesses be interested in using quantum computers?

• Recent developments have revealed the potential for quantum computing to deliver business value by solving difficult problems in entirely new ways. • Quantum computing is well-suited to solve optimization problems—sorting through vast potential solutions to arrive at the best decision. • Enterprises that experiment and innovate now will be prepared to capitalize on the opportunities that the quantum revolution is bound to bring. Quantum computing substantially enhances how information is stored and processed, allowing it to perform more efficient algorithms than traditional computing. While quantum computing has been an important part of research for more than three decades, building an actual quantum computer has always challenged scientists and engineers. That’s changed. In the last few years, we’ve seen hardware and software capabilities move out of university labs and into real-world business products. Still, the technology needs to mature to become fully enterprise-ready and deliver meaningful, cost-effective results. Accenture Labs examines the science behind quantum computing, potential use cases by industry and recommended steps for business leaders who want to be best positioned when this emerging technology reaches maturity. Recent developments have revealed the potential for quantum computing to deliver business value by solving difficult subsets of problems in entirely new ways. Although the marketplace is growing, consistent enterprise use of quantum computi...

In the tech sector, pundits are always hyping the next, disruptive technology on the verge of changing, well, everything. “Embrace this transformative new force or ignore it at your peril,” they warn. Sometimes, they even get it right. Quantum computing may very likely be one of those times. If you haven’t heard, the race is on to build the world’s first commercially viable quantum computer. If you believe the buzz, anyone with a quantum computer—be it a hostile government, business competitor, or lone hacker—would be able to crack any cybersecurity encryption on the planet instantly. Before you run screaming for your information security officer, let me put your mind to rest. Despite the hype, quantum computing is not right around the corner—nor can it instantly crack any encryption. That said, quantum computing will no doubt arrive, and it will be an immensely powerful tool for good as well as for evil. Here’s what you need to know. Encryption is everywhere To understand why cybersecurity experts are concerned, you need to know a little bit about how encryption works, where it is used, and how quantum computers are fundamentally different from today’s digital computers. Encryption is a cryptography method for protecting digital data by making it unreadable in the event it is stolen or intercepted by an unauthorized party. Encryption transforms readable text into unintelligible code or cyphertext that requires a “key” in order to decrypt the data and make it readable. The...

Q&A With Jonathan Ruane Quantum Computing is fast transitioning from a scientific possibility to a technical reality. The history of the The researchers showed at a theoretical level how a quantum computer could beat any classical computer hands down in solving certain problems, if a sufficiently large one could someday be built. But no one knew how to go about building even the most basic elements of a quantum computer then. Today, the field is advancing in important areas, but many challenges lie ahead. We can’t be sure if recent progress will continue, decline, or increase. What is clear, though, is that given the potential magnitude of impact quantum computers could have on the world, it is time for business leaders to start engaging with the technology. In an Harvard Business Review, co-authors, IDE Editorial and Content Director, Paula Klein, spoke with Ruane about the article and the state of quantum computing. Highlights of the conversation follow. IDE: Let’s establish a quick definition of quantum computing and how it departs from current or ‘classical’ computing models. Ruane: One important difference is that while a classical-computing binary unit, or bit, can hold a value of either 0 or 1, a qubit (short for quantum bit) can represent 0 or 1 – or an entirely different state that has an arbitrary weighting of 1’s and 0’s simultaneously. In the article we explain that an 8-bit classical computer can represent only a single number from 0 to 255, but an 8-qubit qua...

Specifically, quantum computers excel at constrained optimization problems. An example of a constrained optimization problem is finding the most efficient route between multiple points. Some industries that often deal with these kinds of problems include finance, transportation and pharmaceuticals. Multivariable constrained optimization problems are time-consuming, even impossible in some cases, for traditional computers to perform. Quantum computers are expected to solve multivariable constrained optimizations with relative ease. This ability is of interest to many industries that regularly grapple with constrained optimization problems as they can solve large problems faster while increasing margins and ultimately building a competitive advantage. Leaders In Quantum Computing The oldest player in the quantum space is IBM. Since the 1990s, it has been active in developing QPUs. In 2016, it connected a quantum computer to the cloud and parlayed this advance by offering the public use of its prototype quantum processors, called the IBM Quantum Experience. This platform allows people and businesses to familiarize themselves with quantum. The company also plans to build a As a semiconductor chip company that produces processor, memory and storage chips, Intel also creates quantum chips, which are used to improve communications with QPUs. The company has heavily invested in research and is on its third generation of quantum processors. The unveiling of the first commercial cry...

Scott Buchholz Managing Director | Deloitte Consulting LLP As a leader and visionary in new and emerging technologies, Scott Buchholz helps clients use technology to transform their organizations, missions and businesses. He works across industries to provide actionable advice and insights to use technology to improve performance, effectiveness, and efficiency. Scott serves as the national emerging tech research director for Deloitte Consulting. He also leads efforts in exploration of quantum computing and related technologies, working to solve customer challenges with these advanced technologies. In his role as CTO for Deloitte Consulting LLP’s Government and Public Services practice, he works with government clients to use technology to innovate in their operations, technology and mission delivery. Deborah Golden Deloitte US Cyber & Strategic Risk Leader Deborah (she/her) joined Deloitte over 25 years ago and currently serves as the US Cyber & Strategic Risk leader for the Risk & Financial Advisory practice at Deloitte & Touche LLP, as well as a member of the US Extended Leadership Team and previously of the US Board Council. In her role, Deb leads one of Deloitte’s largest growth and business transformation Offering Portfolios in the company’s 175-year history with over 8,000 professionals (across the U.S., India, and Israel) in an interdisciplinary Cyber, Extended Enterprise, Crisis & Resilience, and Strategy & Brand business. Growth and change are inevitable in the ev...

Most quantum computers rely on the “quantum bit” or qubit. Unlike traditional bits in a computer, which are set to 0 or 1, qubits can be set to zero, one or a superposition of 0 and 1. Though the mechanics behind this is highly complex, qubits allow quantum computers to process information in a fraction of the time a traditional computer could. To offer an idea of the scale, 500 qubits can represent the same information as 2^500 normal bits. While a typical computer would need millions of years to find all the prime factors of a 2,048-bit number (a number with 617 digits), a quantum computer can do the job in minutes. 1998 saw the development of a two-bit quantum computer, which serves as a proof of concept for the technology. Further developments have increased the bit count and reduced the rate of errors. Researchers believe that problems currently too large to be solved by traditional computers can be solved using quantum computers. Recent developments Given the substantial improvements that quantum computing can provide to computing power, research into quantum computers has been going on for decades. However, important breakthroughs have been seen in recent years. Last week, Australian engineers announced the discovery of a way to control electrons within quantum dots that run logic gates without the need for a large, bulky system. This could help with building quantum computers that are reasonably sized. Also, researchers at MIT recently developed an architecture for...

Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • All • A-Z • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Featured • • About • • • • • • • • Follow • • • • • • • • Subscriptions • • Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn icon The word "in". LinkedIn Fliboard icon A stylized letter F. Flipboard Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Link icon An image of a chain link. It symobilizes a website link url. Copy Link Read in app • Quantum computers are able to process information millions of times faster than classic computers. • The quantum computing market is projected to reach $64.98 billion by 2030. • Companies like Microsoft, Google, and Intel are racing to build quantum computing tools. • This article is part of a series about cloud technology called Today, our phones are Technologists are now exploring the power of quantum computers that are "The differences between quantum computers and classical computers are even more vast than those between classical computers and pen and paper," Peter Chapman, CEO of quantum startup IonQ, told Insider. "Because quantum computers process information differently, they are expected to be able to address humanity's greatest challenges." Companies and researc...

In the tech sector, pundits are always hyping the next, disruptive technology on the verge of changing, well, everything. “Embrace this transformative new force or ignore it at your peril,” they warn. Sometimes, they even get it right. Quantum computing may very likely be one of those times. If you haven’t heard, the race is on to build the world’s first commercially viable quantum computer. If you believe the buzz, anyone with a quantum computer—be it a hostile government, business competitor, or lone hacker—would be able to crack any cybersecurity encryption on the planet instantly. Before you run screaming for your information security officer, let me put your mind to rest. Despite the hype, quantum computing is not right around the corner—nor can it instantly crack any encryption. That said, quantum computing will no doubt arrive, and it will be an immensely powerful tool for good as well as for evil. Here’s what you need to know. Encryption is everywhere To understand why cybersecurity experts are concerned, you need to know a little bit about how encryption works, where it is used, and how quantum computers are fundamentally different from today’s digital computers. Encryption is a cryptography method for protecting digital data by making it unreadable in the event it is stolen or intercepted by an unauthorized party. Encryption transforms readable text into unintelligible code or cyphertext that requires a “key” in order to decrypt the data and make it readable. The...

Q&A With Jonathan Ruane Quantum Computing is fast transitioning from a scientific possibility to a technical reality. The history of the The researchers showed at a theoretical level how a quantum computer could beat any classical computer hands down in solving certain problems, if a sufficiently large one could someday be built. But no one knew how to go about building even the most basic elements of a quantum computer then. Today, the field is advancing in important areas, but many challenges lie ahead. We can’t be sure if recent progress will continue, decline, or increase. What is clear, though, is that given the potential magnitude of impact quantum computers could have on the world, it is time for business leaders to start engaging with the technology. In an Harvard Business Review, co-authors, IDE Editorial and Content Director, Paula Klein, spoke with Ruane about the article and the state of quantum computing. Highlights of the conversation follow. IDE: Let’s establish a quick definition of quantum computing and how it departs from current or ‘classical’ computing models. Ruane: One important difference is that while a classical-computing binary unit, or bit, can hold a value of either 0 or 1, a qubit (short for quantum bit) can represent 0 or 1 – or an entirely different state that has an arbitrary weighting of 1’s and 0’s simultaneously. In the article we explain that an 8-bit classical computer can represent only a single number from 0 to 255, but an 8-qubit qua...

Scott Buchholz Managing Director | Deloitte Consulting LLP As a leader and visionary in new and emerging technologies, Scott Buchholz helps clients use technology to transform their organizations, missions and businesses. He works across industries to provide actionable advice and insights to use technology to improve performance, effectiveness, and efficiency. Scott serves as the national emerging tech research director for Deloitte Consulting. He also leads efforts in exploration of quantum computing and related technologies, working to solve customer challenges with these advanced technologies. In his role as CTO for Deloitte Consulting LLP’s Government and Public Services practice, he works with government clients to use technology to innovate in their operations, technology and mission delivery. Deborah Golden Deloitte US Cyber & Strategic Risk Leader Deborah (she/her) joined Deloitte over 25 years ago and currently serves as the US Cyber & Strategic Risk leader for the Risk & Financial Advisory practice at Deloitte & Touche LLP, as well as a member of the US Extended Leadership Team and previously of the US Board Council. In her role, Deb leads one of Deloitte’s largest growth and business transformation Offering Portfolios in the company’s 175-year history with over 8,000 professionals (across the U.S., India, and Israel) in an interdisciplinary Cyber, Extended Enterprise, Crisis & Resilience, and Strategy & Brand business. Growth and change are inevitable in the ev...