Tuesday, June 25, 2024

How quantum computing will benefit your business

Quantum computing may seem like something out of a science fiction movie but the truth is that it’s a real concept that is already being used by enterprise-sized companies.

Although quantum computing is in its infancy, over the next few years we can expect it to be rolled out and used by more companies. Quantum computing has many advantages over the computers we use today and in this article, we will highlight some of the ways that quantum computing can benefit your business and make it more profitable.

What is quantum computing?

Let’s start with what exactly is quantum computing. To understand quantum computing we first need to look at a traditional computer. A traditional computer is something called binary, this means that it works if the bytes within the computer are either a 1 or a 0. This is known as the state of the bit.

This may sound a little confusing so breaking it down a little further, the bytes in our computer system can either be “on” or “off”. Computing decisions are then made on these states.

With quantum computing, bytes can be in multiple states so they can be both 1 and 0 at the same time. This allows the computer to make decisions at a faster rate than ever before.

Computations that would have taken millions of years to complete could take less than 15 minutes when it comes to quantum computing. The power of quantum computing is like nothing we have seen before and will help us with big data and many real-life applications in which we will see below.

1) Improved experiments

Companies are often limited by the technology that is available to them. With quantum computing, new experiments will be cheaper to run and outcomes will be quicker to see. For example, Carbon nanotube supplier company Tuball run experiments to improve the properties of materials to make them stronger. These additives improve the materials they are added to making them more suitable for the industries in which they are used in. 

However, experimenting and creating new materials is expensive and quantum computing can help. For example, conducting experiments on graphene nanotubes could be very expensive in the real world but using computer simulations on a quantum computer would be much cheaper.

Now this may not sound like it benefits you at all, after all you may not be inventing new materials or running high tech experiments but these savings can be passed on to you as a consumer and you will benefit from the advancements in technology.

2) Improved security

Businesses especially smaller ones are often targeted by hackers and thieves. If a small business is attacked by a cybercriminal then it can be a worrying time for them. After all most businesses that suffer a cyber attack end up going out of business.

Quantum computing can break traditional passwords and encryption in seconds, however, it can also be used to make your systems more secure. Experts say that encryption from quantum computing is virtually uncrackable. With quantum computing, it wouldn’t be worth it for cybercriminals to try and attack your business because the risk wouldn’t be worth the reward to them.

3) Greener Companies

Protecting the environment is something we all should be working towards but we also have a business incentive too. Some countries give business tax cuts to greener companies and using quantum computing we can cut down on the energy used through our computing systems.

Quantum computing is said to be far more efficient when it comes to energy usage than traditional computers. It’s more likely too that one quantum computer would be needed instead of multiple to do similar jobs.

Fewer computers and more efficient quantum computers will mean that companies will see reduced energy usage which will save them money and also make them more profitable as one computer could be doing the jobs of hundreds while being more energy-efficient.

When can I buy a quantum computer?

Unfortunately for most of us, quantum computers aren’t available to us yet and it will be a few years before quantum computers are delivered to everyday people like us. Larger enterprises however are starting to use quantum computers with their big data problems. Over the next few months, we should see quantum computer uptake increase and as more enterprise companies jump on board we should see this trickle-down effect on small businesses.

According to experts, quantum computing will be a multi-billion dollar industry by the year 2030 so we should see adaption over the next few years.

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