What Should We Be Doing With Quantum Computing?

Volume 1 - Issue 6 ~ SEPTEMBER 7, 2022

Welcome to the sixth edition of the “CIO Two Cents” newsletter from me, Yvette Kanouff, Partner at JC2 Ventures. Read on for insights into what is on the mind of CIOs at this moment in time.

*The JC2 Ventures team (John J. Chambers, Shannon Pina, John T. Chambers, me, and Pankaj Patel)*

My "2 Cents" OF the moment

Quantum computing. It’s so exciting, but what are the potential use cases for quantum computing? When should we start implementing it into our business strategies? Some companies are well into using quantum cloud computing services, while others haven’t started – leaving themselves at risk of being left behind. So, I thought I’d give my “2 cents” on how CIO leaders should proceed when it comes to quantum.

I suppose the best place to start is with an explanation of quantum computing, although I suspect most people in high-tech industries are quite familiar with the concept by now. Quantum computing is a term derived from the physics theory of quantum mechanics, which describes interactions between atomic/subatomic particles and the discrete (quantized) value of various combined states of these particles. In traditional computing, we have bits (0 or 1). In quantum computing, we have qubits, which can be either a 0 or 1 or in a state called ‘superposition’ where they are 0 and 1 at the same time. This provides the possibility of infinite states. Once observed (i.e., measured), the qubit loses its superposition and can be measured as a 0 or 1.

A classical computer would have to run one path after the other up to the maximum possible paths to find the right one, whereas a quantum computer can work all possible paths at once and return the correct path.

- Yvette Kanouff

There are some fun examples of understanding quantum states, but for the sake of brevity, I like the common analogy of a maze. A classical computer would have to run one path after the other up to the maximum possible paths to find the right one, whereas a quantum computer can work all possible paths at once and return the correct path.

All that said, we must keep in mind that although quantum computers are obviously powerful, there are limitations. Specifically, they take a long time to build, and they are very susceptible to noise (vibration, electromagnetic signals, magnetic fields, etc.). Heat creates errors, so they must be kept at a temperature of about –460 °F. The more qubits, the better and faster the computation, therefore more complex models can be simulated. IBM, for example, plans to have its Osprey processor with 433 qubits ready this year and its Condor processor with 1121 qubits next year. The company’s goal is to have a 4000+ qubit processor in 2025. Each release is expected to provide improvements to noise mitigation, paving the way to error-corrected quantum systems in the future.

Programming a quantum computer requires a different way of thinking, compared to programming a traditional computer. Quantum computers are typically associated with the ability to solve very complex problems, whereas functions requiring simpler solutions (i.e., creating spreadsheets and documents) continue to be much easier to perform on traditional computers.

So, what are quantum computers good at? Here are a few of my favorite areas that quantum is being used for:

Artificial Intelligence & Machine Learning – With so much computational intensity, quantum computing has the potential to revolutionize the future of AI and ML applications, helping to enable more model complexity and processing than what is possible on classical computers.
Pharmaceuticals – Imagine quantum being able to process immense quantities of chemical interactions to help us bring new medicines to life.
Cybersecurity – You can hardly discuss quantum computing without a mention of the concern that existing encryption keys could be cracked with quantum computing algorithms. The White House, for example, issued a memorandum earlier this year that included plans to prepare against future cyber risks posed by quantum computers before they arise. I am keeping a keen eye out on the work being done to create new encryption systems and incorporate quantum key generation into traditional solutions.
Financial Market – We all know that the finance industry uses compute intensive Monte Carlo simulations (a mathematical technique used to estimate possible outcomes) to run complex financial scenarios. Now, imagine financial institutions harnessing the power of quantum computing to help run more complex algorithmic models at superfast speeds.
Supply Chain Optimization – Weaknesses exposed in global supply chains have driven this topic to the top of the corporate agenda. Quantum computing has the potential to make a huge impact on optimization of routes, as well as the evaluation and mitigation of other potential supply chain challenges.
Environment – From complex weather forecasting to building solid state batteries that offer better energy solutions, quantum computing has the potential to run the most complex scenarios to provide innovative solutions that benefit the planet. Given the vast amount of data and sophisticated models that quantum can support, many natural phenomena can be more accurately forecasted.

There is a lot of work in progress to combine quantum computing with more traditional computing implementations. There is also a significant amount of work happening to emulate quantum with traditional computers, and there is constant competition of what can be done better where. The quantum market forecasts vary, hindered mostly by quantum’s complexity and the lack of staff available to embrace it. Nevertheless, there are many quantum clouds available today – you can use commercial quantum cloud services from companies like Amazon, Google, IBM, Microsoft, and more – and I suspect many more coming in the future.

That’s why I think it’s crucial for every company to have a quantum strategy, especially in industries such as healthcare and pharmaceuticals, finance, as well as logistics and robotics, that have the potential to be transformed by quantum abilities. Having a quantum strategy doesn’t mean that you have to run out to hire physicists and mathematicians, but it does mean that you should be educated, so you can prepare for how quantum will change your company’s environment. Specifically, it means planning what do, when to do it, and understanding how quantum innovation will impact your industry. Given quantum’s complexity, it’s better to be prepared than start too late. There are various companies that can help you learn and develop your strategy with quantum computers today, many offering pre-built application models and open-source programming platforms.

As noted by IBM, which was the first company to offer cloud-based quantum computing access to researchers in 2016, “Forward-thinking companies are already exploring solving optimization problems using quantum computing in their quest to leap ahead of competitors.”

Moving fast? I've got you covered:

(1)

My favorite way to explain quantum computing is with the maze analogy, where classical computers have to run one path after the other up to the maximum possible paths to find the right one, while quantum computers can work all possible paths at once and return the correct path.

(2)

Areas that quantum computing has the potential to revolutionize business, processes, and innovation include, AI and ML, pharmaceuticals, financial markets, supply chain logistics, and the environment.

(3)

There is a lot of work in progress to combine quantum computing with more traditional computing implementations – but it is still crucial for every company to start thinking about a quantum strategy.