Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Quantum theory is the area of study that focuses on trying to explain the phenomenon of energy and matter on the quantum level. Often, these ads don’t even seem relevant. Add that to computing applications, and we get Quantum computing, which uses the principles of quantum theory to develop computer technologies. 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. What are the Challenges to Implement Business Process Reengineering. Portfolio optimization deals with selecting the best asset to invest in, which balances the risk with the expected returns. To date, quantum computers have been able to simulate small molecules like beryllium hydride (BeH2). Oh boy! Machine learning and neural networks are the underlying technologies behind AI. The operating models need to continuously calculate and recalculate optimal routes of traffic management, fleet operations, air traffic control, freight and distribution, and that could have a severe impact on applications. Even if this looks small now, the fact that a 7-qubit chip simulated this molecule holds significance as had there been more qubits at our disposal, it would’ve been possible to simulate bigger molecules. Algorithmic trading is another potential application where the machine uses complex algorithms to automatically trigger share dealings analysing the market variables, which is an advantage, especially for high-volume transactions. The various applications of Quantum computing involve weather forecasting, optimizing traffic flow, customized advertising, and simulating molecues amongst many others. With the exponential growth in computing power, quantum computing is getting ready for its close up. To achieve that, the technique of ‘Monte Carlo’ simulations are continually being run on conventional computers, which, in turn, consume an enormous amount of computer time. Quantum computing could be the key to breakthroughs in science, math and technology, but what is it and how is it currently being used? India Needs Quantum-Secure Encryption To Prevent Future Attacks, Says CTO of QNu Labs, How This Bangalore Based Startup Is Driving Innovation With Quantum Technology-Based Products, The Largest Ever Chemical Experiment For Quantum Computers, D-Wave Expands Its Quantum Cloud Service to India, Why Indian IT Professionals Are Looking To Upskill Themselves In Cloud Computing, Full-Day Workshop: Build your own GANs from Scratch | 28th November |, Webinar On Data Science In The Post-COVID World | 28th November |, Webinar – Why & How to Automate Your Risk Identification | 9th Dec |, CIO Virtual Round Table Discussion On Data Integrity | 10th Dec |, Machine Learning Developers Summit 2021 | 11-13th Feb |. Here are a few applications of quantum computing from the vast possibilities. We try to connect the audience, & the technology. A primary application for quantum computing is artificial intelligence (AI). With the help of the Dynamic Quantum Clustering (DQC) methodology, quantum computers are expected to speed up the data processing to give us more accurate weather forecasts. A quantum computer is expected to have computing capabilities far greater than those of abacus and a modern-day supercomputer. In 2017, Volkswagen tried to address the issue of traffic by tackling the traffic itself. Quantum computers are able to overcome this limitation. This treatment can include various methods such as surgery, chemotherapy, and radiation therapy. We hate spams too, you can unsubscribe at any time. Knowing which assets to invest in and which asset to divest is a challenge that cannot be solved using modern-day computing. They used the QUBO-Quadratic Unconstraint Binary Optimization technique along with the quantum annealing computers to find the optimal route for a certain number of cars in addition to all the possible routes in consideration. However, as the number of applications increased, it becomes a challenging task for traditional computers, to match up the accuracy and speed. Various methods of radiation have been developed in the past decade that uses our classical computers. The online security space currently has been quite vulnerable due to the increasing number of cyber-attacks occurring across the globe, on a daily basis. HiTechNectar’s analysis, and thorough research keeps business technology experts competent with the latest IT trends, issues and events. Artificial intelligence and machine learning are some of the prominent areas right now, as the emerging technologies have penetrated almost every aspect of humans’ lives. Researchers believe quantum computing can be an effective way of understanding the drugs and its reactions on humans which, in turn, can save a ton of money and time for drug companies. In 2017, a researcher from Russia published a paper proposing the possibility of quantum computers predicting the weather more accurately as compared to classical computers. I do remember how crazy simulations can get (even the puny ones I used to do at college). Currently, the process of analysing weather conditions by traditional computers can sometimes take longer than the weather itself does to change. However, by applying quantum technology to perform these massive and complex calculations, companies can not only improve the quality of the solutions but also reduce the time to develop them. But the truth is, quantum technology is here and ready to help us build a positive human future in a technology-driven world. It sure is clear that quantum computing is going to find applications in many more fields. Despite being computational, Quantum computers can reduce power consumption from 100 to 1000 times they use Quantum tunneling. Some of the widespread applications we see every day are in voice, image and handwriting recognition. Weather forecasts are never 100% accurate. IBM, once said, one of the most promising quantum computing applications will be in the field of computational chemistry. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies will be stored in your browser only with your consent. AI is based on the principle of learning from experience, becoming more accurate as feedback is given, until the computer program appears to exhibit “intelligence. It’s jaw-dropping to think that it all started from observing the weird properties of light! Till now, they have tested about 10000 taxis in Beijing to prove how this method optimizes traffic faster than what the classical computers can. And, therefore, cybersecurity has continued to be an essential concern around the world. Because financial leaders are in a business of handling billions of dollars, even a tiny improvement in the expected return can be worth a lot for them. Usually, to do these tasks, conventional computing is used; however, some of them could turn into more complex for an ideal computing solution, whereas a quantum approach may be able to do it. This in itself is a subfield of quantum information science; quantum computing is a field of study that encompasses quantum cryptography and quantum communication. We also use third-party cookies that help us analyze and understand how you use this website. We send you the latest trends and best practice tips for online customer engagement: By completing and submitting this form, you understand and agree to HiTechNectar processing your acquired contact information as described in our privacy policy. The possible applications of quantum computing are endless. Check out 8 quantum computing applications and examples of how it's already changing our world. If recognized in its early stages, some forms of cancer are treatable. Improved data analysis and robust modelling will indeed enable a wide range of industries to optimise their logistics and scheduling workflows associated with their supply-chain management. Often, along with the cancer cells, some surrounding parts of the healthy cells, too, are destroyed. Although companies are establishing necessary security framework in their organisations, the process becomes daunting and impractical for classical digital computers. It is believed that the number of quantum states, even in a tiniest of a molecule, is extremely vast, and therefore difficult for conventional computing memory to process that. Even though classical computers are able to simulate molecules, they have limitations on the complexity in a simulation that they can handle.