Quantum computing has created prospects in numerous industries and fields, including medicines, chemical engineering, and information and communications technology, as well as finance, automotive, and aerospace.
Let's examine the top eight applications made possible by quantum computing.
Machine learning techniques, such as neural networks, can be fine-tuned by quantum computing. In addition, popular deep learning and machine learning techniques, which are widely used to address optimization problems, can be refined further with quantum computers, which mix classical and quantum simulations to solve problems.
Quantum computing's ability to handle massive amounts of data enables it to improve decision-making and prediction in applications such as facial recognition, object recognition, and fraud detection. Quantum-enabled machine learning research is also leading to the creation of quantum algorithms that can accelerate artificial intelligence (AI) processes.
Quantum-inspired machine learning can potentially contribute in the development of countermeasures against cybersecurity attacks. It can also aid in the development of encryption algorithms, propelling the science of quantum cryptography forward.
Quantum computing can play a major role in medication research, enabling the testing of pharmaceuticals for stable molecular configuration utilizing molecular modeling procedures. In addition, quantum computers are able to execute sophisticated simulations on various organic molecules to determine their eligibility for the medicine.
Quantum computing is often suited for addressing combinatorial optimization problems in the absence of specific molecules required for drug development. In addition, simulation-based trials can expedite the delivery of medications to the market and significantly reduce their research and development costs.
The creation of molecular structures, such as the nitrogenase enzyme found in ammonia-based fertilizers, relies heavily on quantum computing. Chemical processes and intricate atomic interactions can be modeled using quantum-based simulations, which are more efficient than conventional lab experiments that rely on trial-and-error techniques. Consequently, quantum computing can change chemical engineering.
Traditional algorithms with poor performance in time-sensitive financial transactions can be surpassed by quantum computing. It can aid in stock portfolio management, investment decisions, and financial trading.
Consider a typical "high-frequency trading model" as an example. In such models, there is a large time lag between two successive financial transactions. Due to this time lag, investors may experience losses since they cannot rebalance frequently. Quantum computing can alleviate this issue because it speeds up the financial calculations involved in trading.
Banks can employ quantum computing to optimize their portfolios by analyzing, scheduling, and prioritizing multiple financial transactions. Quantum computing can be accessed using quantum processors, a collection of numerous qubits that utilize quantum features to get the optimal solution.
Quantum computing is also useful for identifying financial risks, as it accelerates the Monte Carlo simulation by constructing models that produce alternative outcomes via probability distribution for uncertain elements. It does several calculations using distinct values and probability functions.
Companies can apply quantum computing in the aircraft design process. The capability to model and digitize the entire aircraft expedites simulation. Modeling the flow of air currents over an aircraft's wing now requires a significant amount of time, typically months or years. Quantum computing may conduct mathematical computations more quickly, hence enhancing the efficiency of aircraft design. Quantum concepts can also be used for other purposes, such as improving fuel usage and regulating aircraft speed, thereby meeting the industry's sustainability goals.
The car industry is already reaping the benefits of quantum computing. Volkswagen, a leader in this area, has teamed with D-Wave, a producer of quantum computing, to enter the quantum-enabled world. A few of Volkswagen buses were outfitted in 2019 with a navigation app developed by D-wave that provides real-time quantum services, such as information on congestion data and the best feasible routes to a destination on a millisecond timescale.
Similarly, Mercedes-Benz Group (Daimler AG) collaborated with IBM in January 2020 to build lithium batteries of the future generation using a quantum computer.