Quantum computing has been on the radar for decades. It always held promise for greater speed and connectivity than our most sophisticated supercomputers today.
Major companies spent billions of dollars on this disruptive technology. However, progress has been slow and the technology faced many hurdles. The number of errors generated by such complex, multi-faceted computations was a major problem.
Nonetheless, like all technologies, breakthroughs occur and when they do, they usually happen quickly. For instance, research conducted by the University of New South Wales and other institutions recently confirmed that near error-free quantum computing is now possible.
Suddenly, quantum computing has moved out of the realm of the theoretical into a real, useable resource for the business world.
Quantum Devices Can Now Blend With Current Technologies
The guarantee of near error-free quantum computing reveals countless possibilities for business. It rivals traditional computing standards, which means quantum devices can now blend with current technologies. However, it will offer more complex computing at break-neck speeds.
Experts estimate quantum computers operate 158 million times faster than the most sophisticated supercomputer today. Basically, they can accomplish within minutes what would normally take 10,000 years to complete.
Embracing Quantum Computing
Companies such as Google, Amazon, IBM, and Microsoft led research and development, because they realized it held great potential. However, recent advancements have moved this disruptive technology out of the exclusive realm of hugely profitable multinationals into the hands of everyday business.
Companies can access a physical or simulated device through a paid service through the cloud. They don’t need to own quantum devices – they only need to connect, spark innovation, and instigate change.
Even if companies aren’t in a position to embrace quantum computing in the near-term, they definitely need to understand it. They can also build a roadmap towards change. Otherwise, they won’t be able to reap the benefits or avoid catastrophic disruption over the following years.
Quantum Computing Can Affect All Sectors
Change is coming and it will occur very quickly in some industries. However, no business is immune to change. Quantum computing will disrupt all sectors. It is just a matter of when.
Drastically speeding up computations and interlinking information will affect how companies do business. If they don’t explore new technologies, their competitors will. Instead of forging ahead as a leader, their company wastes valuable resources playing catch up.
Areas such as customer analyses, pattern matching, forecasting, optimization, energy consumption, and data analytics are obvious candidates for substantial change. However, any operation offers potential advantages when quantum computing performs it quicker and more efficiently.
Examples include simulating scenarios, scheduling and allocating resources, providing real-time financial data, and monitoring supply chains. Since quantum computing provides results quickly and with fewer resources, it could also reduce research and development costs drastically. It could also help business improve encryption and digital privacy to reduce their risk of cybercrime.
However, quantum computers aren’t used in isolation. They are used in conjunction with existing technologies to create economies of scale and accelerate progress.
Nonetheless, business owners may not know how to move forward, even if they realize quantum computing can offer a competitive advantage. At the very least, they need to identify future needs, opportunities, and potential vulnerabilities. However, this takes guidance and expertise.
Fortunately, EarlyBirds can help your company chart your course. Let us help you identify your business challenges and where quantum computing could provide an advantage. We can develop a viable roadmap through actionable insights and steer you towards change that aligns with your business strategy.
We offer Subject Matter Experts, an expansive marketplace of new and disruptive technologies, and programs for ad hoc or supplementary needs, as well as ongoing transformational support.
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal that connects leaders or influencers in an organisation with new and disruptive technologies.
The Ecosystem has a data pool of over 4 million global innovations that may already address your business challenges. Alternatively, companies can list challenges and request solutions from innovators.
EarlyBirds Explorer Program
The Explorer Program is tailored towards businesses who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single business or technical challenge. It looks for the most relevant innovators that meet business, technical, commercial, and business risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who collects requirements. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and SME drafts a roadmap of next steps, POC, trial, or implementation.
Register at https://earlybirds.io/, or contact us to discuss your needs. We can help you create the quantum advantage you need to strengthen your company, increase performance, and reduce risk.