Why Quantum Computing is so important?
KEY AREAS of QUANTUM COMPUTING ADVANTAGE
Chemistry
Qubits Offer Natural Way to Model Chemical Bonds and Molecular Structure
Applications Include:
- New materials with advanced properties
- Carbon sequestration
- Chemical / catalytic reactions, e.g., Haber-Bosch process
- Pharmaceutical research and discovery
- Nitrogen fixation
- Solar technology
Artificial Intelligence
More Efficient at Solving Large Linear Systems - Enhanced Machine Learning and Simulation
Applications Include:
- Pattern Recognition
- Better model training
- Fraud detection
- Differential equations (fluid dynamic, heat transfer, etc.)
- Financial option pricing
- Genomics research
Optimization
Simultaneous Testing of Multiple Variables Leads to Exponential Improvements
Applications Include:
- Portfolio optimization
- Logistics and supply chain optimization
- Risk analysis
- Loans & credit scoring
- Manufacturing processes optimization
- Optimal control of technological processes
Quantum Computing market and Value
Quantum Computing Value Use Case
Current Example
- In the summer of 2022, Quantum Computing Inc. announced that it had solved the BMW Vehicle Sensor Placement optimization problem in six minutes, a complex problem consisting of 3,854 variables and over 500 constraints
In 2023, SEEQC partners with BASF to explore applications of quantum computing in chemical reactions for industrial use
Many leaders in automotive, chemical, pharmaceutical, financial services, communication, electronics, health, and logistics industries are developing quantum computing approaches to solving real-life practical problems
Quantum Computing Market (Hardware and Software) is growing fast
Market research firms expect that quantum computing Market will grow at a 32% rate for the next 10 years
Market Size - annual revenue realized by Quantum Computing hardware and software
Value - annual benefits realized by all applications of Quantum Computing technology
Estimated Quantum Computing Market Size
$ Millions
Quantum Computing Value
However, the Value of quantum computing from all applications will significantly exceed the size of QC hardware and software Markets.
QWG assumptions
- McKinsey & Co estimates that the incremental value of quantum computing “…could be up to $700 Billion” by 2035
- BCG estimates the annual value creation from quantum computing in the range of $450 – $850 Billion by 2040
- At QWG, we conservatively assume the quantum computing value of $500 Billion in 2040
Quantum Computing Value Increase
$ Millions
The disruptive potential of Quantum Computing will be a crucial weapon for achieving competitive advantage for companies and nations
China announced more government funding of quantum computing initiatives than the 12 following countries combined
Timelines for investment vary per country
Source: McKinsey & Co.
Timing for Quantum Computing
Quantum computers are available NOW for both corporate and individual users. Some examples include:
Practical applications of quantum computing are expected soon
One Million Qubit quantum computers arrive this decade
Algorithms to solve practical problems and unlock the value of quantum computing would require thousands of fault-tolerant qubits. Currently, the leaders in quantum technology are making quantum processors with only a few hundred physical qubits, and these qubits are far from being fault tolerant. Available error-correction approaches can turn approximately thousand of physical noisy qubits into one nearly fault-tolerant “logical” qubit. Therefore, a processor with at least a million physical qubits would be required to solve the most impactful practical problems.
For Quantum Wargaming, we have developed an approach to estimate the timing for solving specific business and environmental problems using quantum computers
Timing Estimation Approach
